Determining Your Aircraft’s Market Value
June 8, 2015
Thinking about selling your aircraft in the near future? If so, you are probably wondering how much your plane is worth.
Knowing the real market value for your aircraft is a huge key to success when you’re selling. If your aircraft is overpriced, you’ll miss out on great offers without knowing it. And if you price your aircraft under the current market, you could leave a lot of money on the table. We have seen the market for an individual aircraft jump by tens of thousands of dollars in just a few weeks. While huge fluctuations are more the exception than the rule, don’t be shy about contacting an expert you can trust to discuss the market for your aircraft.
There are numerous factors that make a significant difference when it comes to determining an aircraft’s current market value.
Here are some of the most important factors to consider when pricing your aircraft for sale:
- Aircraft Bluebook or vRef Values. Both Aircraft Bluebook and vRef Aircraft Value Reference have great appraisal software to help determine a fair market value for your aircraft based on pricing trends. Used appropriately, they can help you identify a good range for your asking price. Values indicated, however can be tremendously subjective and vary widely based on information entered by the user. Because of this, it’s important to already have a good understanding of many specifics in your market in order to land on an accurate value for your aircraft.
- Aircraft condition. Has the aircraft been through any accidents, or is it always hangared and rarely flown? The condition of your aircraft can make a tremendous difference when it comes to the amount any potential buyer will pay. It’s obvious that an aircraft that is well-maintained will bring a better price than one with a damage history; but don’t be surprised when your “well-maintained” aircraft doesn’t bring the higher price you were expecting. Well-maintained is the standard that buyers expect, and they deduct from there for any issues. Perhaps you can expect a bit more than standard if you’ve opted for premium maintenance at a manufacturer-approved service center; but don’t expect to have “added value” by simply keeping up-to-date with routine maintenance that was needed.
- Upcoming maintenance. If there’s any costly maintenance that will need to be scheduled in the next couple years, expect that to factor into your aircraft’s market value. For example, a CAPS parachute repack on a Cirrus aircraft or impending Airworthiness Directive will definitely affect the amount buyers will pay.
At Performance Aircraft, we spend time every day tracking aircraft prices and updating our exclusive Market Research Database so that we can provide the industry’s most in-depth and accurate understanding of the current aircraft market. We travel to every aircraft we represent to review and document the plane in person, which also helps us as we recommend a pricing strategy that will help you achieve your goals.
Want to learn more about the current market for your aircraft? Complete the form below or call us at 402.475.6000, and we’ll be happy to share more information with you!
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