Private Sale or Broker?

dbahn

dbahn

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Display name:
Dave Bahnson
This has probably been discussed here before, but I may be having to sell my 1975 C206 that I've owned for 40 years. I used a broker a few years ago to sell our PA12 on floats, but I recall the commission was quite high for not a lot of work, but the sale also went off without any bumps. Also, this sale is a little different in that it would include the Yamaha 225 XT that we modified to fit in the cabin and make it into a sort of camper. (Details of that can be found on the Alaska link in my signature if interested.)
 
Looks like it should sell fast. If I hadn't sunk so much money into the 182 already I'd be making an offer :D
 
I hate to hear you may have to sell your 206.

If I had the funds available I would be in the market.

Then I would have to take those itty bitty tires and wheels off... :yesnod:
 
Given how much 206s sell for and thus much you'd have to pay a broker as a fee for doing it, I'd try listing it on my own first. It's worth a little headache to save yourself a 5 digit sum (or it is to me at least!). And my guess is your 206 will be in a high enough price bracket where the worst of the tirekickers won't be a problem.

For your own SA - the Cessna 206s seem to sell pretty quickly from all the data I systematically track. About 1/3 of the universe turns over per month, and that's even including the reboot Cessnas in the $500k+ range. I would bet you don't have much trouble selling this solo.
 
It comes down to how much "you" want to do.....and the tire kickers.
 
ArrowFlyer86 said:
For your own SA - the Cessna 206s seem to sell pretty quickly from all the data I systematically track. About 1/3 of the universe turns over per month, and that's even including the reboot Cessnas in the $500k+ range. I would bet you don't have much trouble selling this solo.
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I will agree. Last 206 here in Gallup went for asking price and to south America sight unseen.




I know what you're thinking....but it went to a non-profit medical group...
 
Your trips are awesome! How much are you asking for the 206?
 
Just curious, but why change the N number?
 
I bought my 182 from a Broker and had a positive experience dealing with a professional vs a run of the mill owner...now about to sell off my 182P as well and probably gonna use a broker just cuz I don't wanna deal with all the tire kickers and lowballs so debating if it will be worth the 8% off the top or not to just be done with it.
 
As a recent buyer, sell on your own.

During my search, I considered five airplanes -- three from brokers and two from owners. The first broker was extremely slow to respond and didn't seem to care about whether or not the airplane sold. I passed because if I had to chase down basic things to make an offer, it was only going to get worse. The second broker was part of a large company and while I liked the broker and he appeared ethical, I questioned the firm as a whole. The ad and photos did not match the information provided in the listing and it was never corrected even after it was brought to their attention. To that broker credit, he was responsive, seemed to want to make a sale, and provided the photo/information that didn't match his co-worker's listing. The third broker had an airplane I really liked but he flat out lied to me. I called him out on it but he doubled down... even after I obtained the evidence, he still tried to convince me I was wrong. I liked the airplane enough that I made an offer, but adjusted my offer and terms based on the risk being added by the broker. He blew up the deal, or the opportunity for any deal. Sadly for the owner, that airplane is still on the market. I still think that it's likely a very good airplane and should have sold months ago.

I then saw an airplane listed by an owner, I called him and had a fantastic phone call but passed on the airplane as I didn't not want to take on a needed maintenance issue. The next airplane I inquired about was also owner-owned and the transaction was as smooth as can be. From our initial conversation to closing, with the airplane delivered to me, took 9 days.

Both owners were able to answer questions and I was able immediately gauge whether it is someone I trust to buy an airplane from, and whether the airplane will be as it is represented to be. I'd rather deal with a seller-presented airplane unless it's one of the few brokers who are known to be straight shooters (Jimmy from Gmax is one of those guys, I called him up just in case he had an airplane coming on the market and was great to deal earned my trust by disclosing conflict of interest should I move on one of his airplane based on my choice for pre-buy).
 
I really appreciate the comments. They're very helpful and I'm certainly leaning towards doing it on my own, and the mechanic where I store it has offered to help. It's got lots of checkboxes - always hangared, no damage history, all maintenance logs, recent avionics upgrade with G500 +, fairly new paint, etc. Interior is old, but I figure it's better to discount that for the buyer who can customize it for their preferences.

This plane doesn't owe me anything, really. It's been a marvelous run with the thing, but I'm also coming up on the insurability issue soon. I'm in no rush to sell it, but for the time being I'm self-grounding for an uncertain medical issue.
mandm said:
Your trips are awesome! How much are you asking for the 206?
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I have no idea at this point. I'll be gathering opinions from a few people before I set an asking price. Looking at the Trade-a-Plane/Controller, etc. listings gives me the impression that most listings overly optimistic, maybe just to keep some of the tire kickers away.
 
One of the more interesting presentations last year at OSH was done by the CBP. They asked if anyone had a 206. When the gentleman next to me raised his hand, the CBP officer said, "If you want a hassle free sale the cartels will buy it with cash, sight unseen." So, there's an option. :)
 
I have sold two planes in less than 2 weeks myself. One sold in two days.

Good planes are easy to sell.
 
Great plane, great stories. We all appreciate your stewardship. Sold my T206HD 1 year ago for more than paid 2 years prior, and the price continues to climb. I worked with Van Bortel and they were great. Their A&P/IA CFII delivered a squawk-free aircraft to my airport at a fair price and bought it back likewise when I was ready to upgrade. *Might* have saved a little $ by doing it myself but I don't have time. OTH I could have screwed it up royally. Brokering aircraft is unlike selling used cars. Please DM me before going to the cartels lol.
 
Have done it both ways,prefer to sell on my own,brokerage fees are to high for what they provide. You should have no problem selling ,your plane is usually sought after in the market. Put a feeler out on barnstormers.
 
Unless you are so busy you don’t have time to sell the plane yourself, I see zero reason for a broker.

As a buyer, I try to avoid brokers because most of them a used car salesmen in a new profession.
 
Clip4 said:
Unless you are so busy you don’t have time to sell the plane yourself, I see zero reason for a broker.

As a buyer, I try to avoid brokers because most of them a used car salesmen in a new profession.
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If you have tons of time and are equipped and comfortable doing a 50 year AD check, compressions, borescope, comprehensive examination for corrosion (and knowing where it should be found), testing avionics including fail modes on G1000+, crafting contracts, arranging wire transfers (hopefully via 3rd party) and then ferrying etc then you're probably a broker anyway. IDK but I suspect an inverse relationship between planes selling above 100K and private sells. ArrowFlyer86 probably knows the answer to that one.
 
I'm certainly not too busy to put in the effort. I may need to seek help on sales agreements, escrow, etc., and Vermont apparently will expect me to collect sales and use tax, and if I fail to do so they can charge me for it.
 
N444MD said:
If you have tons of time and are equipped and comfortable doing a 50 year AD check, compressions, borescope, comprehensive examination for corrosion (and knowing where it should be found), testing avionics including fail modes on G1000+, crafting contracts, arranging wire transfers (hopefully via 3rd party) and then ferrying etc then you're probably a broker anyway. IDK but I suspect an inverse relationship between planes selling above 100K and private sells. ArrowFlyer86 probably knows the answer to that one.
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You are funny. Brokers don’t perform 50 year AD check, compressions, borescope, comprehensive examination for corrosion (and knowing where it should be found), testing avionics including fail modes on G1000+. Those should be done at a shop or person of your choosing, not the brokers or owner.

And if you are dumb enough to wire transfer to a broker, shame on you, although I am sure there are brokers who will accept your transfer.

Yes, maybe a broker would be good finding you a ferry pilot.
 
There are "Brokers" who do no more than talk on a cell phone trying to flip planes. And there brokers that run large shops, perform annuals, and provide maintenance and management services. The latter perform all the above services. Airmart, for example, is a broker with 2 FT employees who do nothing but audit for ADs. In most "private" purchases the majority of the useful due diligence just doesn't get done. There are a lot folks on this board lamenting the results of those transactions. These are cheaper initially, of course.
 
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dbahn said:
This has probably been discussed here before, but I may be having to sell my 1975 C206 that I've owned for 40 years. I used a broker a few years ago to sell our PA12 on floats, but I recall the commission was quite high for not a lot of work, but the sale also went off without any bumps. Also, this sale is a little different in that it would include the Yamaha 225 XT that we modified to fit in the cabin and make it into a sort of camper. (Details of that can be found on the Alaska link in my signature if interested.)
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Are you comfortable sharing the cost of the avionics upgrade in 2015 ?

And also, can the plane shoot a coupled LPV approach ?

Thank You
 
N444MD said:
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Are you comfortable sharing the cost of the avionics upgrade in 2015 ?

And also, can the plane shoot a coupled LPV approach ?

Thank You
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I'm comfortable sharing that but I will need to dig those up, and I think it can shoot a coupled LPV approach but not sure I ever even tested that. Send me a PM if you have heard from me in a few days.
 
RickC said:
It's a fairly easy DIY if you are so inclined. Spend a little time doing market research, gaining a full understanding of the process, and writing up a great (and detailed) ad. I listed my 172 on several FB pages on a Monday, showed the plane to a couple of pre-qualified people over the next couple of days, had a pre-buy on Thursday and closed/money in the bank on Friday. Granted, they won't all be this smooth, but there is no reason why a competent individual can't do as good or better job than a broker.
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It couldn't go smoother than that congratulations. The market for 172s (assuming recent sale) alone is probably reason enough not to start with a broker. As one moves up through high performance / complex platforms and the associated prices it starts to look a lot different, especially from a buyer's perspective.
 
dbahn said:
I'm comfortable sharing that but I will need to dig those up, and I think it can shoot a coupled LPV approach but not sure I ever even tested that. Send me a PM if you have heard from me in a few days.
Click to expand...

Will do, thanks ! I've always thought it odd that invoices for annuals, major repairs and upgrades aren't considered to be part of or appropriate for log books. Seems they would be a major selling point in a well-maintained plane. But no-one seems very interested in that information besides myself. Lol.
 
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