Selling a GA airplane is not like selling or trading in a used car. But, you can sell your airplane safely and professionally if you lean into something you’re already familiar with…checklists.
But first, the usual disclaimer. This isn’t legal advice, and I’m not an attorney. I’d feel comfortable giving a friend the following information, but run it past a real lawyer before acting on any of it.
Decide Who Is Selling the Plane
Broker
A good broker is essentially a project manager, marketer, gatekeeper, and therapist. The one you want is knowledgeable about the specific type (or willing to learn quickly) and where the market is currently.
They’ll handle advertising, phone calls, “Is it still available?” emails, and shoo away tire-kickers who only want free rides. They often already have a network of buyers, other brokers, and shops that can shorten the time-on-market. Most importantly, they can help with realistic pricing, contracts, escrow, and seeing trouble coming before you do.
Of course, the broker will want a little something for their trouble in the form of a commission from the sale. And, you’ll still need to do at least some work in the form of supplying and verifying logs, answering their pre-listing questions, and, importantly, making sure the broker you choose is reputable.
You should seriously consider using a good broker if you don’t have time (or patience) to manage a multi-month process, if you simply don’t like negotiating, or if you think there’s any complexity over your head, such as old liens, export considerations, LLC ownership, or a substantial damage history.
On Your Own
The pros include not paying commission to a broker and having control over the messaging, interactions, and pacing. In comparison to selling a $900k Baron with glass, selling a 20-year-old Cherokee is usually much more straightforward.
On the other hand, you’re a marketing, sales, support, fraud detection, quality assurance, accounting, and possibly legal team of one. You will be responsible for screening tire-kickers, spotting scams, and managing money safely. Be ready to draft a purchase agreement, arrange escrow, answer endless questions, and schedule prebuys.
But if you choose to go it alone, you don’t have to be completely without help. A realistic middle ground can be achieved by getting a pricing consultation from a broker or appraiser, talking to AOPA Legal Services or another aviation attorney, then running the sale yourself.
Price as Objectively as Possible
Let’s get the hard part out of the way first. Your airplane is not as special to buyers as it is to you. The market does not value your opinion, care how much you have “in” the panel, or what your next airplane costs.
A sane asking price comes from looking at recent sales of your make and model (or listing prices, at least), the engine and prop times (and their calendar ages), how relevant and supported the avionics stack is today, and the honest condition of the paint and interior. Put all that together, and you’ll land on a fair, defensible number that makes every subsequent step of the sale dramatically easier.
Give the Facts, Then Tell the Story
Serious buyers are not buying an airplane; they’re buying their next “baby,” and it had better be good. They want to know, “Where has this airplane been, how has it been treated, and what am I in for in the first couple of years?” Your job is to make the story clear, boring, and trustworthy.
Clean, Organized, and Digitized
- Put all airframe, engine, and prop logs in chronological order.
- Create a one-page summary with total airframe time, engine time since overhaul (and year), prop time since overhaul and year, date of last annual and next due, date of last IFR/altimeter/static and transponder checks, and any major mods (STOL kit, tip tanks, modern panel, etc.).
- Scan at least the last 5–10 years into a searchable PDF. Digital, well-organized records make you look like a professional and directly support your asking price. They also communicate to the buyer that you’re meticulous. Wouldn’t you want to buy from that kind of seller?
- Giving the physical logs to the buyer should be the very last step in the closing process. No one gets those until that point, no matter what.
- Create a comprehensive spec sheet including manufacturer info and mods/STCs.
|
|