The Aeronca Champ

Whether you’re looking to buy a plane or sell a plane, getting an airplane appraisal is one of the most important steps to ensuring you know what you’re buying and what you’re getting into with a specific plane.

Most general aviation airplanes maintain their value very well over the decades. In fact, some of them even go up in price as the industry adjusts to rising production costs. Nonetheless, a poorly maintained plane or a plane that has structural defects can be a money sink and drive someone from the general aviation hobby.

The first tip for prospective buyers is to always obtain an independent airplane appraisal on any aircraft you want to buy. Never use just the appraisal source of the seller. If the seller’s appraiser is a friend, then you may get a faulty biased appraisal. Second, as a seller, take into account your appraisal with the current market costs. Just because your airplane appraises for $400,000 doesn’t mean it will sell at that price. If the market is bad, expect 75-80% return of your appraisal and if the market is good, expect 100-115% return.

Another important fact to consider in the appraisal is the engine TBO. Most engines require an overhaul after 2000 operating hours. If you purchase an aircraft with an engine at 1500 hours, you are operating that new airplane on borrowed time and will soon need to sink an extra $10,000 to $15,000 into the plane.

Some planes will sell at a discount because of this and if you’re willing to pay the price, then this is fine. But never buy a plane not understanding the engine type and TBO!

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Happy Flying!

James David

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How To Appraise An Airplane That Is For Sale.