What You Should Know about the Used Aircraft Market. Step 7 of 9.

Three Things About the Used Aircraft Market You Need to Know. 

Hello Jake Huling here with Aircraft Sales Advisor. I’d like to welcome you to the seventh video report in a new series called, 9 Steps to a Successful Sale or Purchase of Your Plane.

In the last report we covered Setting Aircraft Budgets, realistic expectations, and the three most common mistakes sellers and buyers make in that area. In addition to that, we talked about the importance of keeping your eye on the trade difference, when both selling and buying a plane. And I explained to you what in the world a build plane was?

In today’s report we’re going to look at the used aircraft market, and I am going to show you three important pieces of information you'll need to know in order to determine an accurate value of your current plane, and to find out what your next plane will actually cost. This information combined will give you what you need to know, in order to determine an accurate value of your current plane, and to know what you should really be paying for your next plane.

So let’s get right to it.

First let’s start by taking a look at advertised aircraft, because this is really where most people will start their search.

These are planes that anyone can find because they're advertised on many of the popular listing sites like Controller. And these are the same Aircraft Listing Sites that I covered in the last report, when we looked at some of the common mistakes buyers and sellers make when looking at aircraft on these sites. 

Now, the planes you'll find on these sites are listed by both brokers and owners and there’s a few things we can learn from the information that’s available to us on these sites.

Three Common Mistakes when Buying & Selling Jet and Turboprop Aircraft. Step 6 of 9.

Setting a budget and understanding the trade difference:

Hello, Jake Huling here with Aircraft Sales Advisor. I’d like to welcome you to the sixth video report in a new series called, 9 Steps to a Successful Sale or Purchase of Your Plane.

In the last report we covered one of the more confusing factors when determining a plane's value, and that is, aftermarket upgrades. We looked at upgrades from three different perspectives. 

One, if you own a plane with upgrades, what they are worth. 

Two, if you own a plane and are thinking of adding upgrades, what makes the best type of upgrades and where should you spend your money. 

And three, if you are buying a plane what type of upgrades you should be looking for, and how much you should pay for them.

In today’s report we’re going to cover budgets, realistic expectations, and the three most common mistakes sellers and buyers make in this area. 

And in addition to that, we're going to talk about the importance of keeping your eye on the trade difference, when both selling and buying a plane. And what in the world a build plane is? 

So let’s get right to it.

Setting your budget:

Two of most common and potentially challenging questions when setting a budget are: 

One, how much of what we want and need in a plane, can we get with our current budget? 

And two, how much of what we're hoping to get for our current plane is realistic? If that sounds at all familiar, you are not alone. 

These two very common questions both have very similar answers.

So let’s start by taking a look at the three most common mistakes sellers and buyers make in this area.   

·  #1 is What I originally paid for my plane.

Now stay with me, because this one gets a lot of owners in trouble and I'll give you an example of how it happens. 

Understanding the Value of Aircraft Aftermarket Upgrades. Step 5 of 9

The Value of upgrades:

Hello, Jake Huling here with Aircraft Sales Advisor. I’d like to welcome you to the fifth report in a new series called, 9 Steps to a Successful Sale or Purchase of Your Plane. 

In the last report we discussed Selling a Plane on Your Own and the pros and cons of this approach. We also talked about the importance of keeping control of your information; how to handle brokers when they call you about the plane you are selling or wanting to buy. And why, when you are buying or selling a plane on your own, it’s so important to know your numbers. And to know why a plane is worth what you are asking, or is only worth what you are offering.

You can also check out the first video in this series were we cover the Top Complaints about Aircraft Brokers.

In this report we’re going to cover one of the more confusing factors when determining a plane's value. And that is aftermarket upgrades. And we really want to look at this from three different sides. One, is if you own a plane with upgrades, what they are worth. Two, if you own a plane and are thinking of adding upgrades, what makes the best type of upgrades and where should you spend your money. And three, if you are buying a plane, what upgrades you should be looking for and how much you should pay for them. So let’s take a closer look.

Selling and Buying a Jet or Turboprop on Your Own, What You Should Know. Step 4 of 9

Keeping control of your price and information:

Hello, Jake Huling here with Aircraft Sales Advisor. I’d like to welcome you to the fourth report in a new series called, 9 Steps to a Successful Sale or Purchase of Your Plane. In the last report we discussed Bringing a Plane to Market and the Different Types of Buyers and Sellers. Why different asking prices require different buyers and different strategies to reach those buyers. And we looked at the different categories a buyer falls into, and why it’s important if you are a buyer, to know what type of buyer you are.

We also looked at how much the difference can be between Wholesale and Retail using a 2007 King Air B200 as an example. And we covered how to go about the search for your next plane, commission rates, what they should and should not be. And I showed you how you can save money when you are both selling a plane and buying your next one. You can also watch the first report in the series called, Selling and Buying a Jet or Turboprop Aircraft and the truth about selling your plane.

In this report we are going to cover selling a plane on your own, the pros and cons of this approach, the importance of keeping control of your information, and how to handle brokers when they contact you about your plane.

Selling a plane on your own.

Let’s start out by agreeing that we’re going to take a look at this one objectively, because generally people are very polarized with their opinions on this topic. 

The Importance of Knowing What Type of Aircraft Buyer or Seller You Are. Step 3 of 9

Bringing a plane to market and the different types of buyers and sellers:

Hello, Jake Huling here with Aircraft Sales Advisor. I’d like to welcome you to the third report in a new series called, 9 Steps to a Successful Sale or Purchase of Your Plane. 

In the last report we discussed the Aircraft Blue Book Appraisal and how it’s only one piece of the information needed to get an accurate appraisal on a plane. We went on to talk about the four different sources of information you’ll need for an accurate appraisal. 

We also covered the importance of not only looking at planes currently on the market, but also in finding at least three recently sold planes that are similar to your plane or the one you are looking to buy. If you haven’t watched the first and second video reports in this series, I recommend you check them out first.

Video #1 covers the Aircraft Brokers reputation and the top complaints from buyers and sellers.

Video #2 covers how Aircraft Brokers determine the value of a plane, the good, the bad, and how to use that to your advantage.

In this third video report, I promised you we would go over the different ways to bring a plane to market, the margin differences between wholesale and retail, and what that means to you when buying and selling. We’re also going to cover how to go about the search for a plane, and the different types of buyers and sellers. 

And lastly we’ll cover commission rates, what they should and should not be, and the different types of percentage based commissions. As I've said before, I like to keep my reports as short as possible, so hang on to your seats were going to get right down to business.

To begin with, let’s talk about bringing your plane to market and the different types of buyers and sellers: