Aircraft Appraisal N 5 6 2 7 7

Sunday, July 26th, 2015

Aircraft Identification

Make: PIPER                                  

Model: PA-32-260

Serial No: 32-73XXXXX

Reg. No.: NXXXXX                       

Yr. Mfg.: 1973

Type of Aircraft: Single Engine Piston

Airframe Total Time: 4193.65 Hrs.  

No. Landings: N/A    

Cycles: N/A

Airframe Condition:  Above average

Log Books in Aircraft Appear: Original and complete

Comments: The aircraft is stored in a locked hangar at the Frederick Municipal Airport (KFDK) in Frederick, Maryland. The current hobbs reading was 1117.2 and the current tac reading was 4193.65

Maintenance Status

Maintenance Annual Date: 11-07-2014     

On Progressive Inspection: No

Comments: The aircraft log books are original, legible and organized. There are 2 airframe log books, one engine log book, and a prop log book. They are clear and fairly easy to read. There are many yellow tags that indicate repairs to installed components. The aircraft has both a Tachometer and a Hobbs Meter. The Tachometer is used to track maintenance items and the Hobbs is used to track pilot’s flight time. Aircraft total TACH time at time of inspection was 4193.65 hours. The tac and hobbs readings at the November 2014 annual were: tac 4189.45 and the hobbs was 1111.8. At the November 2014 annual the engine had 649.54 SMOH.

Time Life Limited Systems: No    

Cycle Life Limited Systems: No

Comments: The Airworthiness certificate and Registration are located in a vinyl folder in pocket on the right side of the cockpit. Based on the November 2014 annual all ADs were complied with at that time.

Service Bulletin Status: Appear complied with

ADs Complied With: Yes            

Estimated Cost for ADs Compliance: N/A

Tires Condition: Good                 

Type Brakes: Disk Anti-Skid: No

Exterior Paint Condition: Above average

Repaint Date: March 1999                            

Repainted By: Alphin of Hagerstown MD

Comments: The aircraft has been stored inside since it has been painted. The exterior paint is in very good condition. No hail damage was visible at the time of the appraisal.

Interior Condition: Above average              

Cabin Configuration: Passenger

Cockpit Condition: Above average            

Panel Layout: Good

Pressurized Cabin: No                                  

Window Condition: Good

Comments: The cabin is in above average condition. The interior was redone at about the time it was repainted. There is little or no fading of the interior. The front and side windows are in very good condition.

Airframe Modifications

Date of Modification: Unknown

Modification: Upgraded instrument panel.

Damage History

Current Damage: There is NO accidents listed in the NTSB database for NXXXXX.

Historical Damage: None listed or noted in the airframe logs.

Engine & Props

Engine Manufacturer: Lycoming                                               

Model: O-540 series

Engine Type: Piston

Engine Fire Detection: No                            

Engine Fire Bottles: No

Prop Reversers: No

Prop Type: Controllable                                

Propeller TBO: N/A Hrs.

Time Since Major Overhaul: 654 Hrs.

Engine Overhauled By: Alphin of Hagerstown, MD in November 1996.    Recommended TBO: 2000 hrs

Comments: Compression check at last Annual was 72, 73, 72, 72, 76, 72.

Propeller Make: Hartzell              

Number of Blades: 2

Overhaul Date: May 15 2008

Engine Modifications

None known or reported.

Known Maintenance Problems with Engine(s): None known

Estimated Cost to Repair:

General Engine Comments: Engine and propeller appear to be in good working condition.

Instrumentation

Full Panel: Yes                                                

Dual Panel: No

Panel Configurations: Above average       

Panel Condition: Above average

IFR Equipped: Yes

Comments: The cockpit has a Garmin 696 with a custom mount. The 696 is equipped with a XM receiver.

Avionics

King KX 155 NAV/COM

Narco COM 120/120

Terra TMA 340D audio panel

Piper Auto Control III auto pilot

Sigtronics SPA-600 intercom

Narco self contained VOR/OBS

Garmin 696

Narco AT150 transponder

Avionics master

The panel has an ADF indicator however no ADF receiver is installed

Additional Equipment

Dual Controls: Yes                                               

Type: Wheel

Stall Warning System: Yes                                

Stick Shaker: No

Rotating Beacon: Yes                                         

Strobe Light: Yes

Taxi Lights: Yes                                                    

Navigation Lights: Yes

Long Range Fuel: No                                          

Fuel Qty: 25 gal main tanks & 17 gal aux tanks

Single Point Refuel: No

Toilet: No                                                                

Lavatory: No

Galley: No                                                               

Cabinetry: No

Other Equipment: The cabin layout is typical of a single engine aircraft with all forward facing seats. There are no brakes on the copilot side. The aircraft has a Midland AM FM cassette player mounted in the instrument panel.

Comments: The cabin was clean and appeared to be properly cared for.

De-Icing Systems

Known Ice System: No                                       

Ice Lights: No

Prop De-Ice: No                                                    

De-Ice Type: None

Wing Tail Boots: No                                            

Boots Condition: N/A

Windshield De-Ice: No                                        

Windshield Wipers: None

Jet Intake De-Ice: No                                           

Pitot Heat: Yes

Comments: This type of aircraft is not typically equipped for icing conditions.

Aircraft Appraiser’s Comments

This 1973 Piper Cherokee Six is in overall above average condition and appears to have been hangared for most of the time in recent years. It has 4193 total time on the airframe and 654 since major overhaul on the engine.

I conducted a NTSB Accident/ Incident Info and nothing was found for NXXXXX.

The only known item or equipment that is not functioning was the electric trim.

The last annual was in November 2014 and the last 91.411 & 91.413 certs were done in October 2013 by Landmark of Frederick.

This aircraft, NXXXXX, was personally inspected on 07-23-2015 by Harry Kraemer, at the Frederick Municipal Airport in Frederick Maryland.

Appraisal Computation    

Many resources were used to calculate a fair market value for NXXXXX. All comparables, references, and other values (actual sale prices, etc.) are referenced in the Flymall Market Watch found at Flymall.org – click on the Market Watch tab on the left side. Under model select Cherokee Six and click on Search.

Click here for the Cherokee Six Market Watch data

Click here for the 1973 Cherokee Six Market Watch data

Click here for all pictures taken for the appraisal

At the time of this appraisal there were NO 1973 Cherokee Six 260 aircraft listed for sale online. There were numerous Cherokee Six 260 aircraft for sale. The asking prices ranged from a high of $110,000.00 and the low was $49,900.00 USD. These are “ASKING” prices used for reference only.

NXXXXX is considered a low airframe, low engine time aircraft.

The information herein has been prepared from many sources and believed to be correct.

An inspection and inventory was conducted by a physical examination of the external surfaces of the aircraft, cockpit and passenger cabin. It includes an inventory and assessment of condition of avionics, instrumentation and aircraft systems. No inspection plates were removed for internal inspection. Further, the logbooks and other aircraft records were carefully examined for compliance with FAA regulations relating to Airworthiness Directives, damage and maintenance history, along with other required inspections. All aircraft records were presumed to be authentic, unaltered, and signatures and inspections therein by persons designated and appropriately licensed. AD compliance was attested to by referencing the date of last Annual Inspection or other appropriate Inspection.

The appraiser hereby certifies that he has no personal interest in this aircraft identified in this appraisal or any bias toward any of the parties who may be involved in the resulting transaction coincident to this report. The appraiser fee is not contingent upon a predetermined value being reported or a percentage of the value being reported.

A visual inspection and log book analysis was performed 07-23-2015 and it is the opinion of this appraiser that the fair market value of the above aircraft is: $75,700.00 USD

Harry Kraemer

Senior Certified Aircraft Appraiser

Appraiser’s Credentials

Harry Kraemer is an industry trained appraiser for aircraft, vintage/classic automobiles, and motorcycles. Harry has been in the industry since 1978. He is a FAA licensed aircraft dealer (His company Kraemer Aviation Services holds the license). Harry has been involved in the aircraft sales/appraisal business since the 1980s. Harry will usually conduct an average of 100 appraisals each year. Such appraisals have been used in estate settlements, divorce settlements, and insurance claims. As part of continuing his education Harry has also served as a judge for industry related shows judging vehicles, aircraft, and motorcycles. Harry has received appraisal training from such companies as Cessna Aircraft and several worldwide appraisal organizations. Harry is also a member of the Association of Online Appraisers.

Harry is also an active pilot and Master Flight Instructor with over 8000 flight hours in over 130 different type of aircraft including jets, gliders, helicopters, blimps, ultralights, and more. Harry has also flown numerous WWII aircraft including the B17 and the B24. Before starting Kraemer Aviation Services in 2002, Harry held numerous senior management positions in aviation including: Assistant Vice President of a Part 91 and 135 Flight Department, Chief Pilot for a 135 operation, Chief Pilot of a Part 141 Flight School, and Aircraft Sales Manager for Frederick Aviation Inc.

Harry holds an Airline Transport Pilot (ATP) certificate and is a Gold Seal Flight Instructor with Instrument Instructor and Multi-engine Instructor ratings. Harry has the distinction of being the only instructor (out of approximately 84,000) to have ever held three Master titles from the National Association of Flight Instructors: Master CFI, Master Ground Instructor, and Master Aerobatic Instructor. Harry has received dozens of aviation industry awards including several from the Federal Aviation Administration.

Harry has published over 90 papers in over a dozen different aviation publications including: FAA Aviation News, Aviation Maintenance, Avionics Magazine, and IFR Refresher. Harry has served as a contributing editor for several aviation publications. Harry is also a research consultant for Gleim Publications. Harry served as an Aviation Safety Counselor for the Baltimore FSDO for over 15 years and currently serves as an EAA Flight Advisor for the Experimental Aircraft Association.