If you are selling an airplane, you want to make sure you get the best deal, right?

And by that, we mean the best sales price while also reducing the costs and the work it takes to list it for sale.

Selling An Airplane – Options

There are several ways to sell an aircraft, and each has its advantages and disadvantages. In this article, we will explore some options available for selling an airplane. Some will improve your chances, and some may not.

Here are some options, with some ideas that might help you sell it sooner, and some tips on how to improve your chances of selling your aircraft for a higher price.

Option 1 – Sell to a Dealer

This is rarely discussed, but one option for selling an airplane is to sell it to a dealer. Dealers have a network of buyers and can quickly sell your aircraft. You might want to check Globalair’s detailed list of brokers and dealers to consider.

However, dealers typically pay less than the aircraft’s market value since they need to make a profit on the sale.

Additionally, if your airplane is not in top condition, a dealer may not be interested in buying it because it could be on the market too long, or take too much time and money to bring it up to what level the market dictates.

This is along the lines of trading in a car when you buy a new one, and understandably there are pros and cons to this approach, so you will want to research this before going in this direction.

Option 2 – Sell to an Auction House

A second option for selling an airplane is to sell it through an auction house.

Auctions can attract a large number of potential buyers, and the sale price may be higher than selling to a dealer.

However, auction houses charge a commission on the sale, and you will need to pay for transportation and storage fees if your aircraft is not at the auction location.

Option 3 – Sell Privately

Selling your airplane privately can often result in the highest sale price. You can advertise your aircraft on online marketplaces, such as YawDamper, or through aviation publications.

Just keep in mind that selling privately does require more work and time to find the right buyer. Additionally, you will need to negotiate with potential buyers, as well as make sure all documentation is available and correct.

We always caution that you may encounter scammers or fraudulent buyers along with all of the tire kickers, so keep that in mind.

Option 4 – Fractional or Partnership

If you are looking to possibly reduce your expenses and are more flexible about when you use your aircraft, you might consider creating fractional ownership (1/2, 1/4, 1/8th) or having partners. This way you can bring in 2 or more people who share in all expenses.

This can be more work from the legal, insurance, and accounting aspects, so it is highly recommended that you enlist the proper aviation professionals before doing anything.

You will want to ensure all your documentation is legal and correct, while always being mindful that you must meet any FAA regulations for fractional owners or partnerships, and for tax and liability purposes.

The following are things you will want to work towards. They can help you get the best price when selling an airplane, and the more of these you can accomplish, the fewer questions you’ll get in the sales process. These will also greatly reduce the amount of work required after listing it for sale.

Tips to Maximize Your Airplane Sales Price

1. Detailed Inspection and Maintenance: Ensure your aircraft has undergone a thorough inspection and all necessary maintenance tasks have been completed. A well-maintained plane commands a higher price.
2. Professional Cleaning: Get the airplane professionally cleaned, both inside and out. This not only improves the visual appeal but also gives potential buyers the impression that the aircraft has been well cared for.
3. Complete Logbooks: Ensure all logbooks are up-to-date and organized (and converted to a PDF that you can add to your listing). This will not only instill confidence but will answer lots of questions before they even come up! Buyers will want to review the aircraft’s maintenance history, so having complete and transparent records is critical.
4. Professional Photos: Invest in professional photography. High-quality images showcasing the aircraft from multiple angles (both interior and exterior) can make a big difference in online listings when selling an airplane. (if you have new tires, make sure they show in some pictures)
5. Video: Consider creating a video tour of the aircraft to give potential buyers a better idea of what they can expect. Keep the final editing tight and concise so people don’t get bored and click away.
6. Certifications and Upgrades: If you can, ensure that your airplane has the latest avionics upgrades and certifications. Modern equipment and tech upgrades can significantly increase the aircraft’s value and most likely speed up the sale of your aircraft.
7. Hire a Broker: Consider using an aircraft broker who specializes in selling airplanes similar to yours, and can leverage their network and expertise to reach a wider audience and potentially secure a higher selling price.
8. Price It Correctly: Do some market research and try to price your airplane competitively. While you don’t want to undervalue it, an overpriced plane can linger on the market for longer than you want.
9. Advertise Widely: Make use of multiple platforms, such as aviation magazines, online listings, and aviation-specific selling platforms such as YawDamper. The more exposure your aircraft gets, the better.
10. Highlight Unique Features: Does your aircraft have a unique paint job? Or perhaps a custom interior? Highlight these features in your listing to make your airplane stand out.
11. Offer a Test Flight: Potential buyers will appreciate the opportunity to test the aircraft before purchasing. It demonstrates confidence in the plane’s condition and can be a decisive factor in the sale.
12. Provide Detailed Information: Make sure when selling an airplane online that you take advantage of the ability to include details about your aircraft. The more information the better. Try your best to anticipate buyers’ questions and concerns, and address those in your listing.
13. Be responsive: Respond to inquiries promptly, and be transparent about the aircraft’s condition and history. If the service you choose to list it on has direct messaging or chat built in (like we do at YawDamper), then make sure to check your account regularly and respond as quickly as possible.
14. Provide Options: If at all possible, consider offering financing options or accepting trades. This can make your aircraft more appealing to potential buyers who may not have the funds to purchase outright.

Remember, this might be a first experience purchasing an aircraft for some buyers, so presentation and transparency play a critical role in instilling confidence in them, as well as any seasoned buyers.

Selling an aircraft can be a time-consuming process, but following these tips and doing the work up-front will remove a lot of stress for you.

If you list it online, be sure to include as much information as possible for any potential buyers and you WILL improve your chances of finding the right buyer and getting the best deal possible. Good luck with your sale!