The Right Way to Sell Your Private Jet

Have you thought of selling your private jet? Perhaps it's time to upgrade to the new model. Maybe the maintenance cost, or upkeep expense is too high?

Whatever the reason, selling a private jet is definitely a big step.

So, here you have the ultimate guide on everything you need to know about selling your private jet. This topic will include important points like when to sell, how to price your home, where to find buyers and more.

When Is The Right Season To Sell?

When is it best to list your aircraft for sale in order to get the most money? Important details to consider are as follows:

Age and Condition In an ideal scenario, you would be selling your aircraft before it becomes aged. Continued loss in value occurs at a much faster rate after a private jet has been in service for 10 years.

The sale rate will fall down as the property condition downs. When your jet is relatively new and in immaculate condition, plan to sell.

Maintenance Schedule Sell right before a big inspection, or expensive overhaul is due. For example, selling it just before a 15-year inspection saves the buyer that huge expense.

Thus, this makes your jet far more appealing than one that is about to become very expensive to maintain.

Market Conditions Ideally, you are going to be looking to sell your private jet when the demand is very high and the supply of aircraft on the market is limited.

When second-hand stocks are running low and waiting lists for new models are long, buyers will pay top dollar for your aircraft. Selling happens when the economy and stock market rise.

Your Financial or Business Situation If your financial situation is in problem and you will quickly need cash or if a company transition is in the works, you may be forced to sell quickly.

Quick sales are sometimes needed for personal or professional reasons, which aren't really the best course of action for maximizing sale price.

How To Sell Your Jet For The Best Price

Private sales without broker involvement are usually the best paying sale prices. However, it is a longer and more challenging path to take that puts the onus for aviation sales squarely in your hands.

Here are top dos and don’ts to optimise the sale value of your jet:

Hire a Pre-Sale Consultant A pre-sale consultant will evaluate your jet and advice on repairs, cosmetic updates, modifications, etc., to make it as attractive (and valuable) as possible. That initial investment typically pays for itself many times over in the form of a higher final price upon ultimate sale.

Invest in Detailing Ensure that both inside and outside your jet seems like new. Have a detailed cleaning of the interior, shampoo carpets, condition leather, and polish woodwork Address any cosmetic flaws in the paint, cabin or upholstery. A new paint job can also add significant value to the sale price.

Paint Touch-Ups Inspect the exterior paint and fix all visible defects, chips, discoloration or other imperfections. Modern epoxy paints allow for spot touch ups instead of whole plane repainting. Minor paint repairs, if performed correctly, can make the exterior of an aircraft look like new.

Update Avionics Private avionic upgrades can cost half a million or more in the middle of its Lifecycle for MODERN jets (12 years or so).

If the instruments and electronics on your jet look awfully dated, doing an upgrade before sale means that the buyer will not have to bear that large cost. Cost avoidance of this nature can be reflected in a price increase offered.

Fresh Documentation Conduct complete reviews and updates of all airplane logs, inspection documentation, manuals, diagrams, and compliance paperwork.

Convert paper records to an electronic format for simple transfer and review. Excellent documentation and transparency before the sale is an effective way to build buyer confidence.

Broker Multiple Bids Instead, break your jet to all serious buyers through your broker instead of accepting the first fair offer you see. Emphasize in the text that there will be competition for bids so that qualified buyers can afford to bring their A-game. A bidding war could also work in your favor.

Know the Real Market Value Find actual completed private jet sales (sold prices, verified from credible sources like AMSTAT). Take into account how much the same model, age, equipment pedigree and condition sells for compared to yours. Know what price range the market will actually pay so you can judge bids appropriately.

Time it Right For example, do not sell at the end of Q4, or during summer vacation. During those times, buyer demand drops considerably.

Get your jet on the market early spring as folks start prepping their jets to take full advantage of the later busy travel time.

The Best Places to Look for Aircraft Buyers

The broader you cast your net the more likely you are to find a buyer that will pay the most money for your private jet. Here are some good places to find potentials clients:

Aircraft Brokers Use private jet couriers to quietly advertise your aircraft within these massive networks of high net worth buyers. There's a stock of buyers with established brokers waiting for the right jet to come on the market. Their advertising and sales tools can market your aircraft worldwide.

Industry Events Use high profile industry events — EBACE, NBAA convention, LABACE — to showcase your jet and make your availability known. These targeted environments draw in the qualified buyers, sellers and aviation companies from around the globe.

OEM Customers Ask the aircraft manufacturer if they have buyers on their waiting list. Buyers ordering new models from manufacturers, such as Gulfstream and Bombardier, will pay a delivery premium on a jet similar to the low-time preowned one you're selling.

Flight Department Contacts Answer: Summon up your finest sales representatives and call major corporations' flight departments, as well as charter operations, to spread the word about your jet for sale. Flight departments are always assessing new aircraft alternatives and the right plane for their mission profile may be too good to pass on when it lands in a call sale.

Aero Clubs / FBOs You can circulate jet details among exclusive aero clubs and FBO networks that serve the best aviation enthusiasts. This luxurious jet you have been enjoying may also be exactly what another member had been waiting to go on the market.

Aviation Publications Print and Online Ads in Trade Journals & Magazines: When using trade journals and magazines, options may include Business Jet Traveler, Aviation International News, Professional Pilot or Twin & Turbine. Access to their subscriber networks expands your potential buyer pool.

Online Listings List the jet for sale on top of market places like Controller com, Jetnet.com and AvBuyer.com. Aircraft purchasers review these websites prior to an airplane shoe, specifically concerning aircraft not publicly advertised by a broker.

Social Media Post your jet listings to relevant high end social media groups. Reddit, Facebook and LinkedIn are popular multi-purpose platforms that allow you to target wealthy individuals who are interested in potentially acquiring a private jet with the message delivered by Jet Advisors.

Using a Broker vs Selling Privately

Should you engage a professional aircraft broker or try selling your private jet independently? Here are the advantages and disadvantages of each approach:

Aircraft Broker

Pros

1. Handled discreetly to protect privacy
2. Extensive existing networks of vetted buyers
3. Less time consuming for you
4. Experienced negotiators
5. Skilled at showcasing aircraft
6. Manage test flights / inspections
7. Guide you on needed preparations
8. Facilitate buyer financing
9. Handle all transaction details

Cons

1. Broker commissions/fees (5-10% of sale price)
2. Less control over process
3. Broker focuses on quick sale rather than maximizing price
4. Selling Independently

Selling Independently

Pros

1. Typically 10-25% higher sale price
2. Maintain complete control over process
3. Set your ideal terms and price
4. Interact directly with buyers
5. Avoid broker commissions

Cons

1. Very time intensive
2. Less experienced with sales process
3. Personally responsible for marketing
4. Must vet and qualify buyers alone
5. May show aircraft inconsistently
6. Must handle negotiations yourself
7. No support services or staffing

Which option is best should be based on your priorities when selling your aircraft. However, involving an experienced broker at least initially usually makes the journey simpler.

Get Your Aircraft Ready for Sale

To get top dollar, you'll need to ensure all aspects of your private jet are immaculate. Here are key steps to take:

Complete Inspections All inspections (hourly, cyclical, calendar, etc) are made and documented to show your jet has been maintained in A1 condition. It gives the purchasers confidence about the condition of the plane.

 

Implement All Recommendations Ensure that all inspection findings are properly fixed. Perform all repairs, change out components, view recommendations, perform servicing etc. Awesome read only if the buyer has to inherit less number of action items.

Touch Up Paint and Interior It might even be small paint scratches or upholstery defects that make an aircraft feel "used" vs near-new. Focus on details for the paint, interior fabrics, wood accents and metal finishes. This will earn some dividends in making the plane attractive

Deep Clean from Nose to Tail Detail the aircraft from nose to tail and inside and out. Make it spotlessly clean. Extract shampoo upholstery & carpets, steam clean fabrics, polish woodwork, and remove all dust grime and everything else. To ease the mind of the buyers, a visible clean airplane occasionally helps.

Fix Cosmetic Flaws Change out scratched windows, dented wall panels or any other visual blemish that changes the looks of the plane but not a flight. The buyers however relate the perfectionism with these details to overall care and condition.

Update Electronics Upgrade dated electronics and basic avionics, if the jet has originally dated equipment. So, outdated systems simply make an aircraft feel old. So do new cockpit parts, which increases safety and function as well as resale value.

Show History of Maintenance Provide a complete and documented history of all maintenance and inspections performed on the aircraft. Collect all records demonstrating compliance with manufacturer recommendations and regulatory requirements.

Takeaway You can give the impression of more diligent care by doing these, and take it or leave it as advice.

Because your private jet will appear and function like a new one, buyers’ worries are eliminated. It allows them to concentrate on what the ownership experience of your aircraft will mean to them instead of maintenance needs.