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RE: Selling / Buying an RV ?????

fstringham7a

Well Known Member
RE: Selling / Buying an RV ?????

After reading the following in another thread it got me to thinking about the sale of my RV7A.


http://www.vansairforce.com/community/showthread.php?t=91053&highlight=aircraft+sale




"As an aircraft broker,.....

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As an aircraft broker, I can tell you that, in the past couple years, only the finest RV-7As (and of course, 10s) have sold for over $100k. And not much over. These have been glass panel, low time, 200hp, beautiful paint, masterfully built, etc. Most of these have been sold to overseas buyers who are willing to pay a premium for the finest examples of RVs. The average, well built, well maintained RV 6s, 7s, 9s have been selling between $60k and $85k.

Of course, these are only the planes I've dealt with, either assisting in the sale or shipping overseas. There have probably been countless planes sold recently that don't fall into this bracket.
__________________
"We're guys. We can make it fit!"

Craig Vincent
SkyView Aviation
209-830-7666
Tracy Municipal Airport (KTCY)
VAF # 912, RV-9A
KJ6DXW

My SPOT messenger tracking page

2012 VAF dues paid"

In my second life after teaching high school Chemistry and retirement I became a lic real estate sale guy. I have, like you, followed the ups and downs of the real estate market over the past 15 plus years. Like many, up until the last 4 years, felt property was a real safe bet and that it would only go up and if it had a tumble it wouldn't fall all that far. I felt this way also about airplanes values. If they are will maintainted the value would probably appreciate with time instead of ....... will you get the idea.

So it was, with this reality in mind, last month when I put my airplane, N74BZ, up for sale.

There are a ton of things that need to be addressed on the part of both the buyer and the seller as they prepare for their part in this dance. Chief among these is what is the present market saying as to the value. Once everyone gets REAL with the PRESENT value then all those other details can be addressed and ironed out.

To help this along might I suggest to the buyer. Don't pay alot of attention to what the seller is saying the value of the plane is ( in the case of an owner built RV he / she knows probably to the penny how much it cost to build). Just ask yourself what would you be willing to buy the plane for in this present market and consideration given to the other important factors ...... such as ...... how it is equiped, time in service, cosmetics, what the market says is it's value (see above quote), plus others .... and make an offer. It is at this point that the real dance can begin. Offer given ..... counter offer extended ..... offer given ..... you get the idea.

Since I have had my plane up for sale I have received a number of of comments back about the quality of the plane but the price (value) was out of their range. How do you know for sure unless you ask?? ... or make an offer to see just how low the seller will go. And so it goes just like in Real Estate sales, make an offer and see where the dance takes you. You might be surprised.

I can't thank the VAF family enough for all the years of help given to me. WHAT A FAMILY.
 
I think buyers are put off by a price they believe is well above market value (whether it is or not) and write off that seller. If the asking price is 30% over market, the buyer believes that the seller doen't know the market and will not end up at a resonable price so there is no point in wasting everyones time.

There are also those sellers that are offended by a low-ball offer. What a joke, a low offer is better than no offer. If a seller can be offended by any offer then they should just higher a broker.

I don't know anything about your sale, but if you have received no offers then your price may be well above perceived market value.
 
I think buyers are put off by a price they believe is well above market value (whether it is or not) and write off that seller. If the asking price is 30% over market, the buyer believes that the seller doen't know the market and will not end up at a resonable price so there is no point in wasting everyones time.
Agreed. There are many nice planes for sale, but I won't even bother inquiring about them if the asking prices are way out of line with what I believe market value to be. Seeing those same planes still listed for sale a month or two later kinda confirms the whole market value thing. The brutal reality is that market value is more often than not less than the sum of the parts, and I think that's hard to accept for a lot of builders/sellers....hence the "high" asking prices.
 
I've bought and sold a few planes and there are three things that kill my interest in a plane listed for sale:

1. "Call for Price"
2. An obviously above market price
3. No specs or photos in the ad (I see a lot of this on VAF for some reason)

I'm not going to take the trouble to call someone about a plane if he isn't willing to provide the basics of the offer without my having to ask.
 
I've bought and sold a few planes and there are three things that kill my interest in a plane listed for sale:

1. "Call for Price"
2. An obviously above market price
3. No specs or photos in the ad (I see a lot of this on VAF for some reason)

I'm not going to take the trouble to call someone about a plane if he isn't willing to provide the basics of the offer without my having to ask.

Bingo.

I have 3 people that are looking for RV's and I'm sending them links to aircraft for sale that I think they might be interested in. I don't even bother with the ones that fall in the above list. If you're serious about selling the airplane, act like it.
 
I absolutely agree with Mark. Be it a car, plane, boat or RV (recreational vehicle) if those three are not addressed I don't even bother. Could be I miss some good opportunities but that's the way I am.
 
agreed

There are a ton of things that need to be addressed on the part of both the buyer and the seller as they prepare for their part in this dance.

Yes, a good start is for the seller to post a description of the aircraft, photos and a starting price. Potential buyers can then decide whether they want to dance.
 
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Photos

Yes, a good start is for the seller to post a description of the aircraft, photos and a starting price. Potential buyers can then decide whether they want to dance.



As an active buyer, searching for the right aircraft around the U.S. is very expensive. Every RV is a one-of-a-kind built by amateurs with varying skill levels. As a suggestion for the sellers, please include more panel, interior, construction and under the cowl photos. These tell me more about the quality of the build than any exterior photo. I can find more info on Ebay about a $20K vehicle than I can about a $80K+ aircraft advertised in the trades.

"No tire kickers," "Serious buyers only" in ads are a turn off. When I walk away within five minutes viewing because it does not meet the advertised description/photos does it mean I was not a serious buyer?
 
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Ya'll missed Frank's core point...to wit, make an offer.

I buy/sell for a living, cars, trucks, and a few airplanes, but I'm not picky. Last week I bought a load of metal scrap.

I don't care what the seller is asking.

What a seller wants to hear is "I will buy now". He wants a load off his mind, or wants to tell his wife he got the job done, or he just plain wants a little success. He wants a sale. Price is secondary, and most expected to give anyway. Thus the Secret Words for Successful Buyers are "I will buy now if ...", "if" being the acceptance of terms. Then back it up with money, on the spot or as close to it as reasonable conditions allow.

Want to put yourself in the clown car? Either of these will do it.

Call a seller and ask "What is the least you'll take?"

Ask "Will you take...?" and then say "Ok, I'll think about it".

In both cases you failed to give the seller the thing he wanted ("I will buy"). Why should he give you anything, or anything more?

BTW, those ads with poor information, the ones folks pass on? I love 'em. The seller did a bad job so I may be the only caller. A few turn out to be really cheap, and as for the rest, no problem.....I'll make an offer.
 
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What a buyer wants to hear is "I will buy now". He wants a load off his mind, or wants to tell his wife he got the job done, or he just plain wants a little success. He wants a sale. .

Dont you mean "What a Seller wants to hear---"

Excellent advice, from a professional.
 
Want to put yourself in the clown car? Either of these will do it.

Call a seller and ask "What is the least you'll take?"

As somebody selling a non-rv project, I must agree wholeheartedly.

Probably ranks right up there with "If I take you to dinner and a movie will you consider sleeping with me?".
 
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