Selling Your Aircraft: 5 Ways to Safeguard Your Investment

Selling your aircraft is a significant decision, one that involves much more than simply finding a buyer. It's about ensuring that your initial investment is protected.

Selling Your Aircraft: 5 Ways to Safeguard Your Investment

Over the years, your aircraft may have paid off in terms of convenience, efficiency, and the joy of ownership, but as you transition to selling, it becomes crucial to navigate the process with care.

At Multiflight, we understand the intricacies involved in selling an aircraft and the importance of safeguarding your investment, and have explored five essential considerations to help you make the most of your sale and avoid any pitfalls along the way.

1. Know the value of your aircraft

An accurate valuation is crucial for setting a fair and realistic asking price and attracting serious buyers.

Conduct market research

Before contacting professionals to assess your plane, you may wish to conduct your own market research to discover the average price of your aircraft’s model. This can also give you an idea of the maintenance and vanity checks that you can mention preceding its appraisal, as well as manage your expectations of the process and price you are likely to get.

You should consider the age and mileage of your aircraft in your search.

Invest in a professional valuation

It is common for owners to attribute emotional sentimentality to their aircraft, and whilst this is understandable, it should not influence the price you ask for. Therefore, it is always wise to seek a professional valuation to remove any lingering bias and realistically assess the quality of the plane.

Professional valuations will consider a number of factors to determine the overall value of your plane, covering:

  • Damage history
  • Panel, engine and propellor value
  • Previous modifications and upgrades
  • Maintenance history
  • Avionics equipment evaluation

2. Prepare your aircraft for sale

To receive the best possible price for your aircraft, it is important to ensure it is in the best possible condition before it goes on the market. Just like a home or car, a dirty or unkempt aircraft can significantly impact how much a buyer is willing to invest.

If you fly in your plane regularly, then it can be difficult to notice the minor details that will be obvious to a prospective buyer so take a step back and walk through the aircraft as though you are inspecting it for purchase.

Some starting points to consider include:

  • Removing any personal items from back pockets and storage space
  • Hiring professional cleaners to polish the interior
  • Touching up any signs of wear and tear including paintwork, seating and controls
  • Fixing the cosmetic appearance of the exterior
  • Gathering maintenance logs and service records

By addressing these issues, you can create an immaculate image of the plane prior to market photography and inspection.

Keep up to date with maintenance

3. Keep up to date with maintenance

Maintaining the quality and safety of your aircraft is critical not only to your flying experience but it likewise preserves its market value. Missed or delayed servicing can imply an unsafe aircraft that is a risk to buyers, thus decreasing its overall price.

​​Buyers will be particularly attentive to the maintenance history, so it’s essential to keep all records up to date and follow recommended service intervals.

For more information, Multiflight has compacted the vital maintenance information into our blog: How Often Does An Aircraft Require Maintenance. Alternatively, we are happy to answer any questions you have prior to both the purchase and sale of aircraft when you get in touch.

4. Enlist expert aircraft brokers

Navigating aircraft sales can be complex, time consuming and expensive to manage in your free time, which is why we always recommend enlisting an expert aircraft brokerage service.

Brokers save you time and hassle through full management or partial involvement in the sale of your aircraft. They can be as involved as you need them to be. One of the most advantageous aspects of hiring a broker is that they have valuable insight into the market that allows them to find the right buyer for your aircraft at the highest possible price.

Brokers will take care of various aspects of aircraft sales including marketing, advertising, contracts, negotiation, inspection and closing the sale.

The value they bring cannot be overstated, as you are free to relax knowing your investment is in safe hands.

5. Invest in a professional pre-purchase survey

A professional pre-purchase survey is an essential step in selling your aircraft. This comprehensive inspection, conducted by an experienced mechanic or surveyor, identifies any issues that could affect the aircraft’s value or safety.

Addressing these issues before listing the aircraft can prevent surprises during the buyer’s inspection and facilitate a smoother transaction.

It will also open the door for an accurate valuation.

Safeguarding your investment when selling your aircraft involves strategic planning, meticulous preparation, and professional expertise. At Multiflight, we provide comprehensive aircraft brokerage services and pre-purchase surveys that take the hassle off your hands whilst achieving a profitable sale. We boast a team of industry professionals expert in aircraft sales and acquisition who take care of every aspect of the process, and endeavour to find the right buyer for your aircraft.