Best Way To Sell Your Aircraft in 2021 – How to Sell a Plane

AeroAvion

How to Sell a Plane – Best Way To Sell Your Aircraft

Selling Your Aircraft

Looking to sell your aircraft? Maybe you are looking for a new challenge.

We at AeroAvion have created this guide to assist you in selling your aircraft for top dollar. As you know aviation has its ups and downs, that’s why it’s important to sell smart so that you can get the most return on investment for your aircraft.

Ready to sell?

Are you ready to sell right now? Do you have accurate log records of your aircraft, valuation assessments, and a price?

You can list your aircraft free with AeroAvion,

Click on the link here to list your aircraft immediately to reach over 300,000 buyers per month.

Making sure everything is logged

The most obvious thought process in selling your aircraft is reminiscing about how you purchased your current aircraft. A few things you probably received when purchasing your aircraft are accurate logbook history, certificates, Airworthiness Directive certificates, and any maintenance logs that went along with the aircraft. This is why you need to have an accurate record at the time of sale.

As a pilot, you already know the importance of keeping records of all types. However, it is even more important with the history of the aircraft. This will assist a buyer in assessing the value and helping them make a better purchase decision. Of course, some records can be retrieved from the FAA however you don’t want to have to rely on this method.

Last but not least, before selling your aircraft be sure to keep a copy of the aircraft logs during your time of ownership. This makes sure you are covered on your end in case anything were to arise.

Assessing The Value

Assessing the value of your aircraft can be tricky as prices tend to vary drastically based on a variety of factors.

  • Avionics
  • Paint
  • Airframe Integrity
  • Damage History
  • Wheels
  • Time Before Overhaul

These are just a few of the factors which you need to use and assess before understanding your aircraft’s worth.

There are many online options to finding your aircraft worth, however, we at AeroAvion can assist with finding your aircraft value, Check out the Aircraft Blue book, fill in your aircraft details and get an estimate using the points we listed above!

Advertising Your Aircraft

Now one of the most important things you can do when selling your aircraft is to advertise. You can’t expect to sell anything if you don’t share appropriately. This is why it is important to find the best advertising methods to sell your aircraft. There are many methods online to sell your aircraft so it is important to choose the most efficient method.

Social media posts are one of the best methods because they are easily sharable, posting your aircraft on Facebook groups and chats increases exposure as it becomes easily sharable content. Aviation forms such as pilotsofamerica assist aviators of all types share on their platform which garners hundreds of views.

Best of all, AeroAvion can assist you for free in this process, as soon as you click here – List your aircraft free and we will post through Facebook, Instagram, Linkedin, and various aviation boards all over the web, for FREE. We have garnered thousands of visitors and together with our email list, we can sell your aircraft most efficiently. We have seen users gain quality inquiries in under a day with our advertising techniques, and it’s all available to you for free.

List your Aircraft Here

Broker Or Selling It Yourself, Which Is Better?

The Idea of a broker is having someone who is more experienced in selling, assessing the value, and understanding the make and model of your aircraft to get the most return.

Generally, you can expect a broker to do the due diligence in listing your aircraft and reaching out to their network to find a buyer for you fast. However, the pinpoint is, a broker will assess the value and take some of the profit for themselves.

Selling yourself will allow you to realize all the profits along with the sale of the aircraft. This means you will have the most return on investment.

Broker

If you are working with a broker, it is important to have a written agreement with the broker that validates the are authorized to sell your aircraft and to understand the policies regarding payment pre-sale or post-sale.

If your option is a broker then we have a list of some of the best brokers and dealers in the world,

Click here to see some of our validated partners.

Of course, online platforms like our, AeroAvion.com essentially act in the same way as a broker. We have a vast network of buyers who are looking for aircraft like yours, listing yourself first may be a much more efficient option than working with a broker.

Selling Yourself

Like we stated before, selling an aircraft yourself can be one of the best methods to realize profits when purchasing an aircraft. However, this comes with the additional downside of understanding how to do the closing and doing your own due diligence to validate your seller.

Most important mindset when selling an aircraft is to put yourself in the shoes of the buyer. Ask yourself ‘What would I want to know about this aircraft if I were purchasing’ We suggest making sure this is in the description in all posts of your aircraft. Consider other methods to list as well such as publications, your local FBO, or checking online forums.

Closing The Deal & Making The Sale

Closing the deal can be the most exciting part of aircraft sales as this almost guarantees you are sold! It’s important to pay attention to key details during this part since this is where a lot of aviators mess up. 

You must be aware and keen to seek out any indications of fraud within the transaction process. Everything should be meticulously documented to ensure that you are legally protected.

If you need assistance we always advise calling the FAA to get any verification for documents. 

Below we have listed a few considerations when Closing the deal!

Fraud Protection

It is especially important to be aware of fraudulent buyers when selling an aircraft. Just like in every industry, there are people actively trying to steal your assets, titles, or attempting other malicious avenues. Do your due diligence, we highly suggest seeking out forms of background checks for your buyer.

Validation

Validate their profile, check to see if your buyer has a presence on social media, review their history, and verify their pilot certifications in the public FAA database. Validate your buyer’s occupation, oftentimes employers are perfectly fine with confirming an individual’s place of work. Any indication that something does not check out or seem right is worth getting a second opinion from a dealer or a broker.

Transferring of Funds

Cash is one of the worst methods to sell an aircraft because it is not documentable especially in the eyes of the IRS. We highly recommend doing a bank wire transfer so the funds are sent and validated immediately. Beware of check frauds and other

Bill Of Sale

Making sure your buyer signs the bill of sale can clear one of the most important steps in your sales process. You can download the FAA Bill of sale form here or you can get it at your local FISDO.

There should be two originals of the Bill of sale form, one that goes to the FAA and another so that the seller can have it in their records. You can keep a photocopy of the Bill of sale for your personal records.

Insurance

It’s important to keep both parties’ insurance informed of the sale. Different insurance providers may have wide-ranging policies on when the transfer happens. This is important when transporting the aircraft. Knowing the details between the insurance can save you if there are any incidences with the transfer.

Aircraft Transfer

Generally, the transfer of the aircraft is the last thing you have to worry about. At this point it’s time to remove all your personal belongings from the aircraft.

  • Complete the sale information on the back of the aircraft registration and mail it to the FAA registry for your protection. Call the FAA registry to validate address information at 1-866-762-9434
  • Provide all logs and records of the aircraft as agreed. Make sure to keep copies and records for yourself.

Frequently Asked Questions

Do Airplanes Have a Title?

Aircraft do not have singular title certificates but instead use a combination of the aircraft registration and the bill of sale to validate ownership. During the purchasing process, a copy of the bill of sale is sent to the FAA for validation and can be validated at any point.

How long is an aircraft registration good for? 

According to the FAA, an Aircraft registration expires three years after an aircraft was registered or last renewed.

Can you Buy a Plane without a License?

Yes, you can buy a plane without a license and if you are seeking pilot training. This is one of the cheapest lessons to learn how to fly. Check out our guide on Buying versus Renting to get the facts.

Is Owning a Plane worth it?

Owning can be one of the most amazing experiences one can have. Being able to travel on your own terms is a luxury experience, no more waiting lines in terminals or checked bags, the aircraft waits for your arrival. Check out a few reasons on our article here – How Much Does It Cost To Own A Plane – Is It Worth It?

 

The Bottom Line

We know selling your first aircraft can be a stressful process. We hope we have shed some light on how easy the process can be. There are many methods to selling your aircraft and as we have seen, aircrafts can sell fast if presented to the right audience.

Online sites like AeroAvion.com can help you sell the most efficiently since we attract buyers. Post your aircraft in front of thousands to ensure your aircraft gets the most visibility. The process only takes on average 10 minutes and you can click the link below to get started today!

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Check our Offerings

Check out our blog post on 5 Easy and Cheap Ways to start flight school, in which we also discuss how contracting a personal flight instructor can prove to be significantly cheaper in your own aircraft.

Are you interested in purchasing an aircraft? Check out some of our listings below, as you can see the prices are on par in comparison to buying a new car.

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