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Frequently Asked Questions


In the current regulatory environment, a lender has stringent due diligence requirements to meet. HeliValue$ performs the necessary check on the equipment to verify its the existence and condition, usually for valuation purposes.  With qualified on-site representatives throughout the world, asset verifications can be quickly arranged.  The information gathered during the onsite will provide HeliValue$:


• The aircraft’s cosmetic and general physical condition, including exterior and interior photographs;

• The aircraft’s Airworthiness status, with copies of photos of its Registration and Airworthiness Certificates;

• Verification of serial numbers on visible data plates of accessible major components against the aircraft’s permanent records and component status reports;

• Verification of the installed equipment/options/kits;

• Review of permanent maintenance records. An onsite verification is not a pre-buy inspection of the aircraft. If you require additional services, please contact our office.

Current component status reports, equipment lists, and information on power-by-the-hour programs are all needed.

Fair Market Value (FMV) is defined as an opinion expressed in terms of money, at which the property would change hands between a willing buyer and a willing seller, neither being under any obligation to buy or to sell and both having reasonable knowledge of relevant facts, as of a specific date. (Source: Machinery & Technical Specialties Committee of the American Society of Appraisers – July 25, 2010).

Orderly Liquidation Value (OLV) is defined as an opinion of the gross amount, expressed in terms of money, that typically could be realized from a liquidation sale, given a reasonable period of time to find a purchaser (or purchasers), with the seller being compelled to sell on an as-is, where-is basis, as of a specific date. (Source: Machinery & Technical Specialties Committee of the American Society of Appraisers – July 25, 2010).

HeliValue$ defines the Net Orderly Liquidation Value (NOLV) as the estimated net amount after sales expenses (brokerage fee, insurance, time value of money) that the inventory would bring in a liquidation sale, given a reasonable amount of time to find a purchaser, but where the seller is compelled to sell on an “as-is, where-is” basis.

The Appraisal Report consists of the premise of value, approaches to value, appraisal results, appraisal certification, and more. The calculation worksheet and Blue Book page is attached to and made part of each report. If it is an onsite verification, the supporting documents from the onsite representative are attached. All reports that HeliValue$ creates are USPAP compliant. The report length will vary depending on the number of helicopters being appraised.

In order to become a HV$ appraiser, our staff members are required to hold accreditation from the American Society of Appraisers. Each appraiser is further required to go above and beyond by taking the complete series of principles of valuation courses and the aircraft specialty exam. Our appraisers are accredited senior appraisers (ASA) with individual helicopter appraisal experience ranging from 7 years to 34 years. Our analysts are in training to reach the goal of ASA accreditation. The appraiser staff remains current with USPAP course updates every 2 years. HV$ senior staff are respected and warmly welcomed everywhere in the helicopter and aviation finance industries. They have published over 50 seminars, webinars and articles. These offerings have been presented to respected organizations and publications such as the National Aircraft Finance Association (NAFA), Equipment Leasing and Finance Association (ELFA), Helicopter Association International, Helitech International, American Society of Appraisers, IMN Structured Finance, AIRTEC and Corporate Jet Investor; feature articles published in Rotor Magazine, Rotor & Wing, M&TS Journal, Rotorcraft Pro, Helicopter Annual, Vertical, Valuation Strategies Journal, Aviation Business Daily, AIN Convention News, Monitor, Top Flight Magazine, and more. HV$’ appraisals uphold the highest industry standards, from the minimum requirement of the Uniform Standards of Professional Appraisal Practice and International Valuation Standards, to the Principles and Ethics of the American Society of Appraisers. We are regularly engaged in globally in legal opinions of value because of our recognized expertise, experience, and reputation.

Our methodology considers the three approaches to value, Income, Sales Comparison, and Cost. The income approach is a method whereby the net present income streams for the subject asset are capitalized to provide a value. The sales comparison approach utilizes sales, pending contracts, offers and the like of comparable assets to determine the mainstream market resale parameters. The cost approach derives a current value from the Replacement Cost New (RCN) by subtracting all forms of depreciation. The appraiser determines the most appropriate approach and provides an explanation in the appraisal report.

Helicopter appraisals require specialized knowledge and experience because they are uniquely different from fixed wing aircraft. Unlike pressurized airplanes and jets that have a finite useful life, helicopters can have unlimited life. As long as the aircraft is properly maintained and operated, it can fly. Which is why helicopters tend to hold their values well and in some cases even increase in value. An airplane is made up of a fuselage that support the wings that provide lift, engines, and then minor assemblies. Helicopters do not have wings. They have main rotor blades that provide lift. The rotor blades have a drive system that provides the rotive power to turn those blades. The drivetrain is made up of major assemblies such as the engine(s), main transmission, main rotor head, main rotor mast, the swashplate (which allows variable pitch settings for direction as well as vertical ascents and descents), tail rotor drive shafting, tail rotor gear box, and tail rotor blades. Many people have described a helicopter as “a collection of very expensive parts flying in close formation.” An airplane’s fuselage may be 65% of the value of the aircraft. A helicopter’s fuselage only makes up 20-25% of the value of a new aircraft. The major assemblies and components of a helicopter are much more valuable on a relative basis than that of an airplane. This is why knowledge of the new, overhaul, and retirement costs of these components is critical to the valuation process of a helicopter. Over our thirty-eight-year history, HeliValue$ has cultivated relationships with various resources such as original equipment manufacturers (OEMs), overhaul facilities, and many operators. These connections have aided HeliValue$ in building and maintaining an extensive database of new and overhaul component costs which is one of the vital elements of the proprietary algorithms that make up our appraisal programs.

There is an abundance of aviation appraisal firms out there. There are even some equipment valuation firms that appraise anything from a lathe, to a semi-trailer truck, to a commercial airliner. What makes HV$ stand out is our 100% complete focus on the helicopter industry for the past thirty-eight years. HV$ doesn’t just have a long history of helicopter valuations, we pioneered the very technical process of helicopter valuations. The process developed by Founder, Barry D. Desfor in 1979 is still used today and serves as a blueprint and standard in the appraisal profession and helicopter industry. So why choose HeliValue$ over other firms that offer helicopter or parts inventory appraisals? • We are the pioneers of the helicopter valuation process • Dedicated focus to the helicopter market; Helicopter values are our only business.


• Over 4 decades of service to the helicopter industry & aviation finance and lease sectors

• Appraisers and analysts that receive the highest level of training & education

• Nearly 2,500 helicopter appraisals performed annually

• Global network of qualified onsite asset verification representatives

• Transparent appraisal fees – All fees and discounts are listed on our website

• Independent, objective, unbiased third party - We are never involved in the buying or selling of aircraft.


Past invoices are available in the Orders/Invoices tab of the dashboard. To get there, click your name in the upper right, chose account, chose orders/invoices from the left menu.

To receive Newsletters and Market Updates, click on your name on your name in the upper right corner of the website and choose “Account”, choose the "Account Details" tab from the menu on the left.  There is a section on that page that will have the Newsletter/Market update information to edit.   You can also subscribe by completing the Newsletter Signup form found in the footer of the website.  Please contact us with any questions at 847-487-8258.

You can access your user account by clicking on your name in the upper right corner of the website and choosing “Account”, then choose the "Account Details" tab from the menu on the left. There will be a section to change your password. Please contact us if you have any questions: 847-487-8258

After registering, you will have access to a user account through your dashboard. You may access your dashboard by clicking on your name in the upper right corner of the web page and choosing “Account” from the menu. Take some time to explore all the tabs. Almost everything you are looking for may be found in your account dashboard.

You can access your user account by clicking on your name in the upper right corner of the website and choosing “Account”, from there choose the Account Details tab from the menu on the left. Contact information can be changed here. 

After registering, you will have access to a user account dashboard. You can also access your dashboard by clicking on your name in the upper right corner of the website and choosing “Account” from the menu. Take some time to explore all the tabs. Almost everything you need can be found in your user account dashboard.

Residual Projection Worksheets provide estimated future value curves of an aircraft based on the aircraft’s Blue Book value range or purchase price. Residuals are specific to the model, year of manufacture, configuration, and Power-by-the-hour (PBH) program. They are not based on actual component times, but rather return conditions of a lease agreement. *Residuals are not appraisals and should not be relied upon to the same extent.

The compare tool will display side-by-side data on resale trends, Perspectives, and Specifications for up to three models. The resale trends comparison gives you the ability to compare resale data for specific date ranges, and year of manufacture.

The Official Helicopter Blue Book® is the most complete reference guide for helicopters world wide. Helicopters have been HeliValue$’ only business for over three decades. The wealth of current and historical resale pricing and technical information in HeliValue$’ hands is simply the best in the industry. HeliValue$ thoroughly understands the world’s helicopter values. If you cannot find what you need in the HeliValue$ Blue Book, give our office a call. If we cannot help, we will direct you to someone who can.

Blue Book Contents

No. The new website is fully interactive, which prevents downloading the entire PDF books. Each screen being viewed is tailored to your specific criteria.

Low Time considers components at an average of 10% - 20% used. Mid Time considers components at an average of 40-60% used. High Time considers components at an average of 80-90% used.

Conversions are major modifications to the aircraft that usually increase the value. Conversions often involve an upgrade to the engine(s) and avionics, and are typically given their own nomenclature. For example, the Airbus AS-350B2 may be converted to an AS-350FX2 or AS-350SD2. To find the value, the original manufacturer model nomenclature is selected, then choose the appropriate conversion from the drop-down menu. Using the previous example; select Airbus, AS-350B2, select the engine installed, and then the conversion. This will populate the resale chart with the pricing specific to that model and conversion.

To view a list of all models and data available for each, please see the Blue Book Index.

Yes, individual pages of the Blue Book may be printed. The ability to print the entire Blue Book is no longer available. Since the Blue Book is now fully interactive you must select criteria for each page you would like to print. There is no need to change criteria for the component page or Perspectives.

The Hourly Maintenance Cost ("HMC") is the main expense in running the helicopter’s major components for one hour. The HMC includes the parts and labor required for scheduled and unscheduled maintenance and scheduled inspections which are accomplished at twenty-five flight hours or greater. Each HMC does not include the labor charges for routine inspections and servicing that are accomplished at intervals of less than twenty-five flight hours. HMCs are determined by computing the cost of each major-cost overhaul and retirement item, with its associated labor costs, then dividing that sum by its allowable flight hours. The resulting per-hour costs are then totaled. HMCs are given as a range of costs due to different parts costs, varied transportation and labor charges, discounts, and above- or below-average labor time. We then add an average dollar "shop rate" for labor to remove and replace parts, and compute the internal employee costs for all other labor. If an operator does not employ in-house Certificated maintenance technicians, that operator's HMC will likely be higher. An operator with complete in-house maintenance capabilities may find their HMCs are slightly lower than the published HMCs.

Resale Trends display historical pricing based on the chosen start and end dates. Trends are specific to model year and are only displayed as base pricing. They do not account for conversions or configuration. **Dates in the drop-down menu reflect a date when pricing changes were made to the model. However, the changes may not have affected all model years. As a result, there may not be a value change between selected data points for some model years.

Perspectives compiles over three decade’s worth of The Official Helicopter Blue Book® resale pricing data. Each data point shows the helicopter models’ average base resale prices at the first calendar quarter of each year, regardless of the helicopter’s year of manufacture. Compared to the components’ service-life used, the age of the aircraft has little impact on its value. Price spreads shown are based on the realities of then-current market scenarios. No adjustments have been made for inflation: 1979 values are given in 1979 dollars, 1989 values in 1989 dollars, and so on through the present. All values are given in US dollars and are net retail prices. Data points begin when resale data started to become available for a particular model. For instance, if a model started production in 1990 we may not have received resale transaction information until 1993. HeliValue$ Perspectives, registered as Perspectives: A Helicopter Resale History®, was once sold as a separate publication. In 2014 HV$ made Perspectives part of the Blue Book subscriptions.

Unlike pressurized airplanes and jets that have a finite useful life, helicopters can have unlimited life. The major assemblies that make up a helicopter are the main determining factor when valuing the aircraft. For this reason, the Blue Book breaks down resale values by average weighted component use. Weighted average is defined as an average resulting from the multiplication of each component by a factor reflecting its importance. The major drivetrain components of a helicopter have varying overhaul and retirement cost. More expensive parts hold a greater weight than lower cost components. HeliValue$ calculations for finding the average weighted use is proprietary to our appraisal programs. The columns (0%, 20%, 40%, 50%, 60%, 80%, 100%) are provided so subscribers can get a general idea of the spread of values based on component usage. If a specific value based on your helicopters actual component status and specific installed equipment is needed, we suggest a formal desktop appraisal performed by one of our ASA accredited appraisers. Alternatively, you may consider purchasing a HeliCalc™ report. HeliCalc™ requires knowledge of how to correctly read and analyze component status reports. Please see the FAQ section on HeliCalc™ for more information.

Power-by-the-hour (PBH) is a maintenance program. A predetermined hourly payment for the PBH-covered part is made for each flight hour that part has flown. This ensures that its major overhaul and/or time retirement is accomplished at the proper interval, with the parts provided by the Original Equipment Manufacturer (OEM) or their designated authorized service center. PBH covered aircraft retain a higher value because the covered parts are always qualified for restorations to a “zero” or “low-time” service life condition. There are many types of PBH programs. The Blue Book will adjust resale pricing on the four most common types; Engine, Gearbox, Engine & Gearbox, and Tip-to-Tail PBH. Tip-To-Tail refers to a program that covers all major drivetrain components.

Yes, a guide is available by clicking on the Resources then Blue Book Guide on the navigation bar.

At times, infrequently traded models and newer model year aircraft will not have current resale pricing available. If the Resale pricing is shown in gray, it represents values that have been calculated based on limited resale data. These values are primarily based on the Cost Approach theory and sales offerings worldwide. To see a complete list of models and available data, please see the Blue Book Index.

For over three decades, HeliValue$ has built strong relationships with owners, operators, lenders and lessors, brokers, and manufacturers worldwide. Resale information is diligently and continuously gathered from these many resources. It is then analyzed by senior staff and added to a value matrix that allows the information to remain confidential. Adjustments to the Blue Book resale values are only made when sufficient and verifiable evidence becomes available.

Frequently traded models are updated as soon as they begin to show variation from the previously published values. At the end of each quarter HeliValue$ reviews all models covered in the Blue Book to ensure overall accuracy. Resale pricing adjustments are based on actual sales transactions and current market conditions such as overall trends in asking prices, increase or decrease in supply, demand, and sales volume. We obtain resale pricing data from owners and operators, lenders and lessors, brokers and equipment manufacturers worldwide.

The Blue Book features over 200 civilian model helicopters. Information on specifications, current and historical resale values, current and historical manufacturer pricing, component overhaul and retirement intervals, and hourly maintenance cost is available for most models. Also included with your subscription is the model comparison tool that allows side by side comparison of data for up to three models. To see a sample of the Blue Book, click on the Resources tab. To see a complete list of models and available model data, please see the Blue Book Index.


For the purpose of a Blue Book value, an average complement of mission specific equipment and avionics are calculated when a configuration is chosen.

No. However, there is a fully interactive Blue Book sample and Blue Book Index available on the home page.