Best Way to Sell a 40 NG

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Mdm0515
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Best Way to Sell a 40 NG

Post by Mdm0515 »

Hi

This may be an existing topic on DAN elsewhere already but I can not locate. I'm ready to exit my 2019 DA 40 NG and move up to a twin, and I wonder about DAN member experiences and opinions on the best way to proceed, especially with respect to establishing value on my current plane. I know a couple of brokers who might take the sale but in terms of relative value extraction is there a better way? Has anyone used and been happy with an individual Controller listing and consummated sale or other type of commission-free exit?

Many thanks for ideas or links to earlier conversations,
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Charles K
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Re: Best Way to Sell a 40 NG

Post by Charles K »

Well easiest way to get rid of it is to give it me :)

I would advertise here on DAN and then yes I would try a Controller type listing before a broker - used plane prices are up.

You can start with vref and other listings for your year and options as a starting point for value.
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chili4way
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Re: Best Way to Sell a 40 NG

Post by chili4way »

Matt, are you thinking of a Diamond twin? New or used? Trade-in?
How many Service Hours on your DA40NG?
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Re: Best Way to Sell a 40 NG

Post by Mdm0515 »

chili4way wrote: Thu Apr 29, 2021 8:30 pm Matt, are you thinking of a Diamond twin? New or used? Trade-in?
How many Service Hours on your DA40NG?
I'm primarily looking at the 42 and 62 and trying to determine which satisfies my typical mission. I'm likely to buy new but wouldn't rule out a late model low-time used plane. I'm likely to split the buy and sell transactions and go plane-less for a while as I make a decision on the new plane and also find adequate hangar space somewhere suitable. TT on the plane is 375 hrs.

Thanks
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Re: Best Way to Sell a 40 NG

Post by Mdm0515 »

Charles K wrote: Thu Apr 29, 2021 8:15 pm Well easiest way to get rid of it is to give it me :)

I would advertise here on DAN and then yes I would try a Controller type listing before a broker - used plane prices are up.

You can start with vref and other listings for your year and options as a starting point for value.
Thanks Charles!
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Re: Best Way to Sell a 40 NG

Post by CFIDave »

I've bought/sold my Diamond aircraft with and without using a broker (and now I *AM* a broker).

Doing everything yourself can certainly be done in this hot market where good used Diamonds are in short supply and you shouldn't have much trouble finding a buyer. So it really comes down to:

1) How comfortable are you in handling the legal agreements, escrow service, pre-buy inspection, and negotiation of which discrepancies to fix? Will you be able to help your buyer obtain financing, insurance, and potentially tax advice if business use is contemplated? (Sometimes you need to help the buyer with these items in order to complete the sale.)

2) How confident are you that you set the correct price without "leaving money on the table"? As you may know, sources like VREF are woefully behind/obsolete in today's market of rising prices for Diamonds.

3) Are there qualified buyers who might have paid more for your plane, if only they had known about it? Running an ad in Controller or here on DAN may be a good start, but brokers have a list of pre-qualified buyers looking for used DA40NGs. In today's crazy market, most Diamonds are sold before they are ever listed publicly.

Sometimes paying a sales commission to a broker may put more money in your pocket after the sale, but for sure it reduces the hassle and risk for sellers.
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Re: Best Way to Sell a 40 NG

Post by Mdm0515 »

CFIDave wrote: Fri Apr 30, 2021 4:16 pm I've bought/sold my Diamond aircraft with and without using a broker (and now I *AM* a broker).

Doing everything yourself can certainly be done in this hot market where good used Diamonds are in short supply and you shouldn't have much trouble finding a buyer. So it really comes down to:

1) How comfortable are you in handling the legal agreements, escrow service, pre-buy inspection, and negotiation of which discrepancies to fix? Will you be able to help your buyer obtain financing, insurance, and potentially tax advice if business use is contemplated? (Sometimes you need to help the buyer with these items in order to complete the sale.)

2) How confident are you that you set the correct price without "leaving money on the table"? As you may know, sources like VREF are woefully behind/obsolete in today's market of rising prices for Diamonds.

3) Are there qualified buyers who might have paid more for your plane, if only they had known about it? Running an ad in Controller or here on DAN may be a good start, but brokers have a list of pre-qualified buyers looking for used DA40NGs. In today's crazy market, most Diamonds are sold before they are ever listed publicly.

Sometimes paying a sales commission to a broker may put more money in your pocket after the sale, but for sure it reduces the hassle and risk for sellers.
Thanks Dave. Very good points for consideration
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Re: Best Way to Sell a 40 NG

Post by Boatguy »

Mdm0515 wrote: Sat May 01, 2021 8:30 pm Thanks Dave. Very good points for consideration
How did you proceed with selling your plane?
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Re: Best Way to Sell a 40 NG

Post by Mdm0515 »

Boatguy wrote: Sun May 16, 2021 7:47 pm
Mdm0515 wrote: Sat May 01, 2021 8:30 pm Thanks Dave. Very good points for consideration
How did you proceed with selling your plane?
I'm probably going to broker it but not yet decided. I agree that the complexity of selling on my own has a lot of complications and special knowledge requirements that I likely don't have. I should be more clear on my path in the next few weeks.

thanks
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Mdm0515
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Re: Best Way to Sell a 40 NG

Post by Mdm0515 »

Boatguy wrote: Sun May 16, 2021 7:47 pm
Mdm0515 wrote: Sat May 01, 2021 8:30 pm Thanks Dave. Very good points for consideration
How did you proceed with selling your plane?
I decided to broker it and completed the transaction last week. A very good experience for me and happy to refer details for any who are interested.

Now, what to buy and where to secure a hangar.... :tap:
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