If the time has come to sell your private jet, there are few things you should know before you put it for sale. Sure, aircraft brokers are a powerful tool to boost the process of private jet sales, you need to map out a few details before hiring their services.
See that you are clear and precise regarding your expectations so that you can get what you want from the private jet sale and gain an edge over the potential buyers.
Jets are expensive and a rare piece of equipment. Trying to sell it off could be both time-consuming and sometimes impossible as you don’t find customers that easily. To ensure that you can sell off your jet fast, see that all the necessary documents are in order such as the registration certificates, engine and logbooks, aircraft equipment list, aircraft flight handbook, and airworthiness certificate.
Tips for Selling Your Private Jet
Here are a few handy tips that you can use to sell your plane quickly and gain advantage over other private jets for sale:
Be Careful About the Timing
You must pay attention to knowing the right time to sell your plane. This is where an aircraft broker could be of assistance. A pro-tip is putting up your aircraft on the market during the summer spring months. These are good times to sell aircraft as during the vacational month’s many people opt for recreational flying. You can expect to have more prospects during these seasons.
Also, when the market is ready, you can successfully sell your plane at the asking price you have determined.
Setting the Right Asking Price
Price happens to be a major consideration for the buyers. You need to be clear in your asking price so that your aircraft broker can meet your expectations when it comes to aircraft sales. You have to establish that it is just right – not too high or too low. It is important to know the market. Research your plane’s model and then compare it with the current market prices. Pay attention to factors like avionics, engine time, damage history, and total time.
When you know the value of your plane, it can help you get the most out of your investment.
Start with Local Airports
If you are doing everything yourself, first of all, get in touch with the local airports. When you are choosing airports, limit yourself to a radius of about 100-150 miles. Request the airport management to put up all the relevant information about your plane on their bulletin board.
It is easier to sell your aircraft to locals as they can easily come by for a visual inspection within a day. They are better prospects due to the convenience and having a sense of familiarity because of you living in the same location.
Utilize Communication Channels
Use different communication channels to reach out to potential buyers. You can also make a website and then put up your contact information along with pictures of the plane that covers both the interior and exterior of the plane. The more photos the better for you. An aircraft broker can also help you in this regard as they have connections. However, do your hard work too. You may find a potential buyer yourself.
How to Find a Reputable Aircraft Broker
Here are a few simple but worthy tips to help you find a good broker:
- Find an aircraft broker that has a professional presence. They have listings in business directories as well as websites and social media pages.
- Ask around on internet groups and among your circle who also own or have sold an aircraft.
- Once you find one, ask them to give you a reference list. You can speak to them as well.
- Check the responsiveness of the brokers by reaching them out yourself. Some are competitive and may not share the basic information even unless you have signed a contract. Call different brokers and see if someone comes off as honest and helpful to you.
- Aircraft brokers are paid similarly to real estate agents. You pay them after the sales. You can ask for an itemized fee list.
If you are in the UAE, you can also check out the aviation companies in Dubai, they might be interested in buying an aircraft.