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  #1  
Old 07-13-2019, 04:33 PM
John Courte John Courte is offline
 
Join Date: Jul 2005
Location: Los Angeles, CA
Posts: 630
Unhappy Advice: How to sell an RV7?

It's looking like it may be time to let go of N313TD.

As much as I love it, there are life changes happening that require... Liquidity. I know I won't ever get back what I put into it, and I know I'm completely biased because I built it, and I'm not all that excited about the idea of selling it.

To be honest, I have no idea what it's worth, other than a cursory search of VAF and xxxxxxxxxx, but it would be nice to have someone who knows a thing or two about RV's, maybe bought and sold a couple, have a look at it and tell me what the price ranges are from "giving it away" to "you must be high."

Usually when a thread like this pops up there is plenty of encouragement to stick with it and make it work somehow, but that's really not an option.

This is another first for me. During my time here, and thanks to you all, I built my first RV, test-flew my first RV, and now I have to sell my first RV.

Any advice would be welcome and appreciated.

(Moderator Edit: Removed reference to 3rd party online sales hub per VAF posting rules.)
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Last edited by scrollF4 : 07-15-2019 at 08:36 PM.
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  #2  
Old 07-13-2019, 05:55 PM
Scott Hersha Scott Hersha is offline
 
Join Date: Jan 2005
Location: Cincinnati, OH
Posts: 1,127
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John,
If you can compile a list of RV7’s for sale on VAF, xxxxxxxx, and then come up with a list for each for: age, hours (engine & airframe), equipment (cockpit), engine, prop, paint, and interior - and then compare it to yours - realistically, not “I’ve built it and it’s perfect” - you can then get an idea of “asking price”. This asking price doesn’t necessarily have anything to do with reality. An airplane is worth whatever someone is willing to pay for it. If it doesn’t sell, then it’s not worth the asking price. Trying to figure out what one of these listings actually sold for is not easy. You could contact the seller and ask them, but they may be unwilling to disclose that kind of info, for various reasons. The buyer is even less likely to tell you what you want to know. You could look up the Bill of Sale on the FAA.gov website, but that usually doesn’t work either. Every airplane I’ve sold says “$1 Plus OVC” (other valuable considerations). All you can realistically do is test the waters. Start a little higher than what you would be happy with, and then don’t be afraid to lower it 10K at a time every couple of weeks - down to your lowest acceptable limit. An airplane that remains on a listing for months at the same price with no offers should (and does) tell you something.

(Moderator Edit: Removed reference to 3rd party online sales hub per VAF posting rules.)
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SH
RV6/2001 built/sold 2005
RV8 Fastback/2008 built/sold 2015
RV4/bought 2016/sold/2017
RV8/2018 built/Sold(sadly)
RV4/bought 2019 Flying
Cincinnati, OH/KHAO
JAN2019

Last edited by scrollF4 : 07-15-2019 at 08:37 PM.
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  #3  
Old 07-13-2019, 08:09 PM
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MCA MCA is offline
 
Join Date: Jun 2005
Posts: 655
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When I sold my RV-7 (sob) I created a website and included lots of pictures and everything related to the aircraft that I could think of. This included build logs, maintenance records, wiring diagrams, W&B, oil sample trends, serial numbers, annual checklist, POH, etc.

Made it very easy for a buyer to know what they were getting, and you don't get a lot of calls and questions for basic info.

Hope that helps!
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RV-7 980 hours, IO-390, VP-X (sold)
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  #4  
Old 07-13-2019, 08:44 PM
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RV8JD RV8JD is offline
 
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Quote:
Originally Posted by Scott Hersha View Post
You could look up the Bill of Sale on the FAA.gov website, but that usually doesn’t work either. Every airplane I’ve sold says “$1 Plus OVC” (other valuable considerations).
BTW, on FAA Form 8050-2, "Aircraft Bill of Sale", you can leave the sales price field blank and the FAA will accept it. Seems they don't care about the sales price, like some of the States do for tax purposes. And even then, Washington State for example, doesn't take that number automatically as a valuation for tax purposes, and will try to validate it as best as they can. And since there is no Blue Book for E-AB's like there are for Certified aircraft, they look at other data to asses a value for tax purposes.
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Arlington, WA (KAWO)
RV-8, 606 Tach Hours
(Pic 1),(Pic 2)
- Out with the Old, In with the New
(Pic)
RV-8, 1938 Tach Hours (Pic 1),(Pic 2) - Sold

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Last edited by RV8JD : 07-13-2019 at 08:58 PM.
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  #5  
Old 07-14-2019, 08:46 AM
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704CH 704CH is offline
 
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Location: Sammamish, WA
Posts: 208
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Can anyone outline the steps (besides advertising and finding a buyer) and forms involved in selling? Besides the FAA Bill of sale are there any tax items or insurance considerations? Any other legal forms that are necessary? Particularly for liability?

Thx
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Sammamish, WA
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Flying ! As of 032913
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  #6  
Old 07-14-2019, 09:14 AM
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DeltaRomeo DeltaRomeo is offline
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Join Date: Jan 2005
Location: Highland Village, TX
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John,

If I ever had to sell my RV-6 I’d create a folder in one of the cloud-based photo hosting sites (I currently use SmugMug.com), and would upload the hundreds and hundreds of photographs I have of the project during its construction. I'd have the same 'what is it worth' questions, and I think getting all the pictures online in one spot would be a good first step in determining that....

Then I’d upload in that same folder pictures of my handwritten build log (pics taken with my phone), and all the aircraft logbook entries, etc. Take the cowl off and shoot a hundred pictures of the engine compartment with your phone. Under the dash. Everywhere. I’d go to town.

I’d start with that, then put a link to that folder in a classified listing here with what you think is a fair price (maybe a little high and then come down).

The point I’m hoping to get across is a couple hundred pictures goes a LONG way in today’s ‘show me’ environment.

Your audience, IMHO, is a person in their work office browsing the internet on a large monitor..... ;^)
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Last edited by DeltaRomeo : 07-14-2019 at 09:32 AM.
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  #7  
Old 07-14-2019, 02:51 PM
John Courte John Courte is offline
 
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Location: Los Angeles, CA
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This is all great advice and thanks a million. Looks like I need to start a massive photo session that is best done during the upcoming annual inspection, when everything is exposed. Lots of work ahead!
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Phase II as of 7/19/2014
FOR SALE!
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  #8  
Old 07-15-2019, 07:57 PM
Robb Robb is offline
 
Join Date: Sep 2015
Location: Nevada City Ca
Posts: 154
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i sold my 7 in 3 days listed on xxxxx. just upload a few pictures and general information.

(Moderator Edit: Removed reference to 3rd party online sales hub per VAF posting rules.)
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Last edited by scrollF4 : 07-15-2019 at 08:38 PM.
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