• Buying an Aircraft is not like buying a car because, for one thing you’re not limited by distance because in most cases an aircraft can be ferried in flight to you from just about any anywhere in the world; in fact there are literally hundreds of aircraft in the air right now being ferried around the globe to their new owners.

• While printed media such as mainstream aviation magazines are still popular they have just about seen out their time. Today, the internet is the place where buyers and sellers of aircraft can meet – and they’re not just limited to buying or selling aircraft in their local region – it’s just as easy for someone on the other side of the world to see your aircraft online as it is for someone us the street.

• Payments can be made between banks electronically, agents and brokers can arrange the general paperwork and contracts etc’ – aircraft engineers are all qualified to similar standards and ferry flights and/or dismantled shipping is just a standard thing these days so, really there isn’t any better way to buy or sell and aircraft than online.

• With Skype, you can talk for free to other aircraft owners and/or their agents and aircraft brokers and dealers so, communication is simple and cheap – cheaper than an interstate phone call. You can email spec’s and photos to one another for free and best of all with worldwide cheaper airfares once you pretty sure you’ve found your perfect aircraft you can go and inspect it. It’s that simple – welcome to the ‘global village’.

• Knowing how similar aircraft have been priced can also be very helpful in determining if the price of a specific aircraft seems fair. Remember, each aircraft is different so you will have to consider all the variables when making your comparison, keeping in mind those factors that are most important to you.

• Total Time: Low total time aircraft are highly desired and cost more. High total time aircraft are less desirable and therefore cost substantially less. The values of newer aircraft are more affected by total time than older aircraft. The Aircraft Blue Book while helpful should be used as a guide only. .

• Engine Time: Engines have a limited life expectancy or TBO (Time Before Overhaul). The TBO is manufacturers specified criteria based on when the average engine needs to be overhauled.

• If you purchase an aircraft that has 1500 hours on an engine with a 2000 TBO, you will have approximately 500 before you need to overhaul the engine. You will probably want to start saving for the occasion or, if you plan on selling the aircraft before that happens, you should know it may be a little harder to sell it as the engine’s time approaches TBO.

• If you purchase an aircraft that has 1,150 hours on an engine with a 1200 TBO, however, you should make sure you already have enough money to perform an overhaul. You should be aware a TBO overhaul prices are based on averages. Just because an engine has a TBO of 2400 does not mean that it will make it to 2400 before an overhaul is needed. If not taken care of properly it could need an overhaul at 1100 or with proper care and some luck you might make it to 2800 hours or more.

• So, you can see it is essential to have any aircraft checked out thoroughly; and as mentioned in another ‘Tip’ on this site ‘Title Search’ always make sure you have an independent licensed aircraft maintenance engineer carry out an inspection of the aircraft and the aircraft’s log books and to report on any accidents and/or incidents or major alterations and/or repairs to the aircraft.

• Make sure it’s not an engineer who has worked on the aircraft previously and make sure it’s not done by the engineer who you will engage to carry out the aircraft’s future maintenance – use someone who has no connection with the aircraft and who holds a valid Professional Indemnity policy of insurance because, without it you have no added protection.

• Exterior Condition: Painting an aircraft is very time consuming and can be quite costly so an aircraft in above average condition is worth several thousand dollars more than one that requires paint. Corrosion is another thing to consider. Many aircraft have it, especially if they come from humid areas near salt water. It can often be treated, but depending on the severity, it does reduce the value of the plane.

• Interior Condition: Like painting, refurbishing the interior also requires a fair amount of time and money. Seat covers can always help extend the life of an interior, but a new interior adds a few to several thousand dollars depending on the number of seats and the quality of work.

• Avionics: Radios play a major role in determining the value of the aircraft, adding more than $20,000.00 in some cases. Aircraft Blue Book has a formula for calculating this value and a system for considering avionics upgrades. A qualified aircraft broker or appraiser can help you put these figures into perspective however, you’ll be able to check out all the latest gadgets available from your regional avionics experts..

• Options/Modifications: Many aircraft have after market modifications that enhance the beauty or performance, STOL kits for instance. It is important that these modifications are approved by your relevant Civil Aviation Authority and have the necessary proper paperwork and log book endorsements. Some modifications increase the value of an aircraft, while others improve the marketability such a s the famous ‘cargo pod’ for the ever wonderful C206.

• Location: Don't forget to consider the aircraft's location when determining value. You should figure in the cost involved in getting to the aircraft home to you; for information about logistics and ferry flights for aircraft, click here

• A reputable experienced Aircraft broker or Dealer is the ideal first step as they can help you make an educated purchase. In the USA they have qualified aircraft value appraisers however, elsewhere in the world we tend to rely on general market trends as our only real guide.

• Even financiers rely on market trends more than anything else, sometimes they will insist on getting a written valuation from a qualified and licenced ‘valuer’ at considerable expense but, more often than not they will accept a /market appraisal’ from an established and known aircraft broker or aircraft dealer.

• An experienced professional understands all the factors involved in determining an aircraft’s value. Items that the average pilot might overlook, such as a new propeller or maybe your new aircraft is missing some items that are considered to be standard and included in the base value of the aircraft.

• Getting an appraisal by a professional just might save you thousands of dollars – after all, you would never consider buying a house without a valuation or at least an appraisal, so why would you invest in an aircraft without one?

After helping hundreds of aircraft owners sell their aircraft, helicopters and aviation accessories online, we’re been able to establish some helpful tips on how best to advertise your aircraft for sale; click here to get tips on how to sell your aircraft.