How do you sell an airplane?

Selling an airplane involves several steps and considerations. Here’s a general overview of the process:

Determine the market value: Research the current market to determine the approximate value of your airplane. Factors that can influence the value include the aircraft’s age, condition, maintenance history, avionics, modifications, and market demand.

Gather documentation: Collect all necessary documentation related to the aircraft, including the title, registration, airworthiness certificate, maintenance records, logbooks, and any additional documentation that demonstrates the aircraft’s history, upgrades, or maintenance. Buyers will likely request this information for evaluation.

Pre-sale inspection: Consider having a pre-sale inspection performed by a qualified aircraft mechanic or inspection facility. This helps identify any potential issues or necessary repairs that could affect the sale. Addressing these issues before listing the aircraft can enhance its marketability and value.

Determine the selling method: Decide whether to sell the aircraft privately or through a broker/dealer. Private sales typically involve handling the marketing, negotiations, and paperwork yourself, while working with a professional can provide guidance, wider exposure, and expertise in aircraft transactions.

Advertise the aircraft: If selling privately, create a comprehensive listing that highlights the aircraft’s specifications, features, maintenance history, and any notable selling points. Advertise through various channels, such as online classifieds, aviation marketplaces, social media groups, and industry publications. Include high-quality photos and be responsive to inquiries from potential buyers.

Respond to inquiries: Once the listing is live, you’ll likely receive inquiries from interested buyers. Respond promptly, provide accurate information, and be prepared to answer questions about the aircraft’s condition, history, and specifications.

Negotiate the sale: When potential buyers express serious interest, negotiations regarding the purchase price, terms, and conditions will take place. Be prepared to negotiate and consider factors like the current market, comparable sales, and any unique features or upgrades that add value to the aircraft.

Sales agreement and deposit: Once a buyer and seller agree on the terms, it’s common to draft a sales agreement outlining the specifics of the transaction. This agreement may include details like the purchase price, payment terms, delivery date, any contingencies, and a provision for a deposit to be made by the buyer.

Complete the sale: Work with the buyer to arrange a final inspection, test flight, or any necessary paperwork or documentation required by the buyer’s country or regulatory authorities. Once all conditions are met, complete the transaction by transferring ownership, exchanging funds, and ensuring that all necessary documentation is properly executed.

Post-sale tasks: After the sale, cancel insurance policies, update registration and ownership records, and inform relevant aviation authorities about the change in ownership.

It’s important to consult with legal and aviation professionals throughout the process to ensure compliance with local regulations, protect your interests, and facilitate a smooth and legally sound transaction.