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How to value/price airplane?

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douglassmt

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I'm looking for some ideas on how to best value/price an RV I'll be putting up for sale. Airplane prices have gone a little crazy so it seems it's whatever someone will pay for it at a given moment. Short of conducting an auction (which might not be a bad idea), what are suggestions for putting a price on the plane? I can look at other similar planes for sale and compare features to this one (and I have), but those are only asking prices, not sale prices.

Any brilliant suggestions would be appreciated. I want to get the best value for the owner but also to sell it fairly quickly and treat potential buyers fairly.
 
I seen your post earlier and thought, How do you expect a response if You don't tell anybody what you are selling.
Is it an old beat up RV-6 or a nice newer RV-10 with all the bells and whistles?
Ask anything for it cause nobody knows what you are selling.
Art
 
??

Well, it sort of doesn't matter what plane I'm selling. I want some ideas on what to ask for it, short of conducting an auction, considering the crazy market for airplanes right now. As it happens, it's a very nice, low-time, IFR RV-7A. But I'm not asking for a specific number, rather how to go about pricing it.

I could just pick an exorbitant price and let the offers come in but I don't like that approach. I would rather set a reasonable price...but I honestly don't know what that is these days.
 
Get on >>mod delete<< see what your type of aircraft is listed. Wait a month or less, see approx. the selling price and list it accordingly.

You might want to list a slight amount higher than what you will take, sometimes that works, not much higher or you may not have an offer. Work it like you would sell your car. :)
 
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I feel like planes are similar to houses when it comes to pricing, its worth what someone is willing to pay for it. Both commodities have almost doubled in price in the last 5 years. The only way to know what yours is worth is to find comparables and price it accordingly. You may not be able to find asking price vs selling price for anything, but if you look through Vans classifieds, theres a few planes that have been posted, and 2 days later have a "sold" post on them. That's a pretty good indication that they received a full asking price offer from someone.
 
Try this. Take what you consider the bottom level RV7A.....VFR panel, no paint, fixed pitch prop, rebuilt used engine, just average condition, etc., what would you consider a fair price for that? In today's market, in my judgement, a fair price would be say $100k. Now add $20k if it's professionally painted and another $20-30k for a newer glass IFR panel. Constant speed prop would add another $10k. Truly exceptional aircraft would add a premium to these numbers. So, now you have a basic guideline that you can add or subtract from a base to get you in the ball park. The additional costs above the base is about what it would cost to add the additional items if the plane the buyer is looking at doesn't have them. Does this help?
 
thanks

That's very helpful, thanks.

Try this. Take what you consider the bottom level RV7A.....VFR panel, no paint, fixed pitch prop, rebuilt used engine, just average condition, etc., what would you consider a fair price for that? In today's market, in my judgement, a fair price would be say $100k. Now add $20k if it's professionally painted and another $20-30k for a newer glass IFR panel. Constant speed prop would add another $10k. Truly exceptional aircraft would add a premium to these numbers. So, now you have a basic guideline that you can add or subtract from a base to get you in the ball park. The additional costs above the base is about what it would cost to add the additional items if the plane the buyer is looking at doesn't have them. Does this help?
 
I've been closely watching the 7, 6 and 9 market for the past 8 months. Working to help a good friend find a RV to give him his own long term grin.

From what I have seen, similar to what is stated above is the range for most listings is 90 to 140K for 7A's. 90 being a VFR (some glass, not a steam gauge setup) plane, maybe no paint or minor damage history. $140K is an almost perfect plane, low hours on a factory new engine, full interior. Over $140K are very few, and any that have popped up have been award wining level of fit and finish with things like a full glass Garmin suit - G3X, 650 or 750 GPS/NAV/COM, GFC500, 345 Xander, etc... this class ranges from 150-180K, never seen anything higher than that, and I doubt the 180K actually sold for that much, it was listed for months.

I go by the list it to sell, and in this market you can be aggressive and still make a sale happen in days. Over the past 4 months, we have inquired into 9 planes, the ones that lived up to their description sold to offers made within HOURS of listing.

If you'd like I'd be happy to chat about what my opinion is on value based on how the plane is setup, hours, engine/pro and finish. Although the guidance above is about right on add on values, I think the lower starting price for a bare bones example should be closer to 80K not 100K.

My opinion, YMMV....
 
Like anytrhing house, car, plane you look at compriables and what they SOLD FOR... I put SOLD FOR in Caps becasue asking is not sold. This gets you "market value". The market can go up and down. I think we are getting to the peak of crazy prices. However IT IS ONLY worth what someone is willing to pay for it. So to answer start looking at >>MOD EDIT<< this forum for prices o used planes similar to the one you are trying to value. Collect the data and put in a spread sheet. You will get max, min, avg. Of course you have to adjust for condition, engine, prop, avionics, paint, upholstery, hours. Chances are if it's a NICE RV it will sell fast and for asking price.
 
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But getting the SOLD price is the hard part. Thanks for the response.
Like anytrhing house, car, plane you look at compriables and what they SOLD FOR... I put SOLD FOR in Caps becasue asking is not sold. This gets you "market value". The market can go up and down. I think we are getting to the peak of crazy prices. However IT IS ONLY worth what someone is willing to pay for it. So to answer start looking at >>MOD EDIT<< this forum for prices o used planes similar to the one you are trying to value. Collect the data and put in a spread sheet. You will get max, min, avg. Of course you have to adjust for condition, engine, prop, avionics, paint, upholstery, hours. Chances are if it's a NICE RV it will sell fast and for asking price.
 
But getting the SOLD price is the hard part. Thanks for the response.

Speaking based on the planes I have worked offers on most have sold for asking +/- $5K, unless the asking price was out of line, which most have not been.

If you want some actual numbers post the info on the plane and I can bet we will collectively get you close to the right number to list at.

I have archives of most of the 6, 7 and 9As that have been listed/sold over the past 5 months and can use that for some guidance. I have sold prices for 3 of the 7As over this time period as well.
 
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