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Last Updated on November 1, 2024
It can be awesome to own an airplane. There’s nothing quite like taking to the skies, ideally with your friends and family members in the passenger seats, and seeing a view of the earth that only a tiny percentage of all the humans who have ever lived have seen.
Alas, all good things must come to an end — and at some point, you might find that it’s time to sell your aircraft. At that point, the priority will be to ensure that you get as much money as possible. By using the tips we’ve outlined below, you can sell your plane quickly and achieve maximum value.
Work With A Professional
You don’t have to work with an aircraft broker to sell your airplane. However, it’s recommended that you do so. While you might get lucky and sell your plane for the highest value if you do it by yourself, it’ll be much less likely. A professional can help you to identify the right buyer (just because someone’s interested, that doesn’t mean that they’ll be a legitimate buyer!), negotiate on your behalf, and take care of the mountains of paperwork that are typically involved during the transfer of an aircraft.
As with all things, there are good and bad aircraft brokers. Do your research and read reviews to find the one that’s best for your needs.
Invest In Its Maintenance
People buy a plane because they expect to be flying it many years down the line. However, they’ll also want to fly the plane as soon as they can — and that won’t be possible if it’s a non-flying state. You’ll lose many potential buyers just because they know they’ll need to invest in its maintenance before they can take to the skies. The solution? Take care of the maintenance for them. Investing in a new battery, especially one of the teledyne battery products that’s available, will mean there’s one less thing that they have to do when they’re the owner of the aircraft — and that’ll increase the likelihood that they want to buy. Sprucing up the interior and taking care of any cosmetic defects can also make your aircraft more appealing to potential buyers.
Take Steps to Protect Yourself
Selling anything comes with risks, but there’s an unusually high number of dangers involved when selling an aircraft. Fraud can be a big problem, so you’ll need to put measures in place to ensure that you’re always dealing with legitimate buyers. Asking for a downpayment and working with an escrow company can significantly help reduce the risk of something going wrong.
Sell At The Right Time
Finally, if you want to get as much money for your plane, then you’ll need to sell it at the right time. It’s best to take the emotion out of it. You’ve had a great time flying your plane, but now that you’re selling it, it becomes an asset. And selling at the right time, rather than holding on because there’s an emotional connection, will ensure you get as many dollars as possible. You’ll be happy you did so once you’ve put the money in your child’s college fund!
