Vref Fall in aircraft prices
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Vref Fall in aircraft prices
Interested to read that Vref in the States is suggesting second hand aircraft prices have fallen by over 10% in the last three months and by over 25% in the last year. A Cessna selling for over 150K last year is now selling if you are lucky for 90K. With the pound very much on the rise against the dollar (at the moment anyway, and ignoring the set backs over the last day or two) perhaps a very good time to pick up a bargain.
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You're quite right Fuji and there are a huge number of lovely juicy aircraft to choose from too. I have been looking closely at the pages of the website "Barnstormers.com" and have fallen in love with the lovely Cessna 195. What a fantastic aircraft this would be for group. With its load carrying ability, five seats and massive classic WOW factor, not to mention the big round engine. It would surely be on the frontline at any and every fly-in.
I have found only two on the Brit register so a few more would be very welcome I'm sure.
If anyone living in the Cambridgeshire area has the same feelings as I do, would they be interested in purchasing one in the US and bringing it back to blighty and running it within a group of, say, five?
An added extra here is that if it were brought back through Denmark before the end on January 2010 one can escape the pure robbery of VAT!
I have found only two on the Brit register so a few more would be very welcome I'm sure.
If anyone living in the Cambridgeshire area has the same feelings as I do, would they be interested in purchasing one in the US and bringing it back to blighty and running it within a group of, say, five?
An added extra here is that if it were brought back through Denmark before the end on January 2010 one can escape the pure robbery of VAT!
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Forget Barnstormers...use www.tradeaplane.com many more aircraft listed there.
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2 ways to look at this.
Good examples are rare because the owners of nice stuff generally know there isn't anywhere obvious to go from where they are. So their prices are holding up well. For example I could still get £150k for my 2002 TB20GT and this is from private feedback, not advertised prices.
The common stuff is going to fall a lot more, but owners will be in denial for as long as possible. Those hard pressed will sell at a very low price. Some dealers in the USA are contacting owners (out of a database) making them silly low offers, and it seems to work because at any time a certain % of owners are in dire straits financially.
The drawback of buying something "in distress" is that it is likely that maintenance has been bodged for the last few years.
The actual price paid is never advertised because once you advertise say a 30% drop then the whole market is marked down and you will be getting offers 30% below the new figure
Just like houses, right now, really
Good examples are rare because the owners of nice stuff generally know there isn't anywhere obvious to go from where they are. So their prices are holding up well. For example I could still get £150k for my 2002 TB20GT and this is from private feedback, not advertised prices.
The common stuff is going to fall a lot more, but owners will be in denial for as long as possible. Those hard pressed will sell at a very low price. Some dealers in the USA are contacting owners (out of a database) making them silly low offers, and it seems to work because at any time a certain % of owners are in dire straits financially.
The drawback of buying something "in distress" is that it is likely that maintenance has been bodged for the last few years.
The actual price paid is never advertised because once you advertise say a 30% drop then the whole market is marked down and you will be getting offers 30% below the new figure
Just like houses, right now, really
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The old ones, low time, badly maintained, accident history, faded paint and interiors just will not sell.
No one in their right mind will fork out over 100K which does not give any form of percieved value other than that it flies.
Ramp appeal, confidence in everything working, comfort all play a role.
When i was buying my Seneca, I was offered several III models which all looked tired, some with a new paint or a new interior, some with a 530 in an old panel, most of them for around 150K. Just over 50K more bought me an immaculate "all numbers matching" model IV (G-MAIK)
Things don t change, you ll get what you pay for. Mine is for sale now, but I can wait a year or more if i need to. Somebody out there will fall in love with her just like I did.
It is the cash strapped need-to-seel-now owners who will loose out.
For those who have the cash now, they could make a good deal for the years ahead.
No one in their right mind will fork out over 100K which does not give any form of percieved value other than that it flies.
Ramp appeal, confidence in everything working, comfort all play a role.
When i was buying my Seneca, I was offered several III models which all looked tired, some with a new paint or a new interior, some with a 530 in an old panel, most of them for around 150K. Just over 50K more bought me an immaculate "all numbers matching" model IV (G-MAIK)
Things don t change, you ll get what you pay for. Mine is for sale now, but I can wait a year or more if i need to. Somebody out there will fall in love with her just like I did.
It is the cash strapped need-to-seel-now owners who will loose out.
For those who have the cash now, they could make a good deal for the years ahead.
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I agree VanHorck
The sales pages have always featured aircraft that are flying basket cases and the onus is on the buyer to find this out. Before spending $100,000 on an aircraft there is a lot of homework to do. Done properly there are many aircraft well maintained and loved that can be bought for a very competative price thanks to the present financial situation.
The sales pages have always featured aircraft that are flying basket cases and the onus is on the buyer to find this out. Before spending $100,000 on an aircraft there is a lot of homework to do. Done properly there are many aircraft well maintained and loved that can be bought for a very competative price thanks to the present financial situation.
