Background
In April of 2024, our brokerage made contact with a prospective client selling a 2002 American Champion Citabria 7GCBC. The client, looking to upgrade to a different model, initially set an asking price based on their own research and a few comparable sales. However, they were uncertain about the market dynamics and how to attract serious buyers.
Initial Consultation
During the initial consultation we conducted a comprehensive market analysis, comparing the client’s aircraft to similar models currently on the market and recent sales data. We identified that while the client’s price was competitive, it didn’t fully reflect the unique features and enhancements the aircraft had undergone over the years. We suggested a more strategic pricing approach that could maximize value and attract higher-quality offers.
Revised Strategy
We proposed raising the asking price by $3,500.00. Our rationale was rooted in the aircraft’s pristine maintenance records, upgraded avionics, and the current demand trends in the market. We emphasized that positioning the aircraft at a slightly higher price could not only highlight its value but also create a perception of quality among potential buyers. After careful consideration, the client agreed to our recommendation. They re-listed the aircraft with a revised price, professional photographs, and a detailed description outlining its enhancements and the benefits of ownership.
Marketing Campaign
To generate interest, we launched a targeted marketing campaign. This included: • Professional Photography: High-quality images showcasing the aircraft’s interior and exterior were taken. • Detailed Log Scans: A one stop shop, allowing potential buyers to explore the aircraft from the comfort of their homes. • Targeted Outreach: We reached out to our extensive network of potential buyers, including other brokers, past clients, and social media groups. • Aviation Sales Platforms: Numerous online ads with premium and featured listing algorithms to reach potential clients across the globe.
Results
Within four weeks of relisting, we received multiple inquiries. The strategic pricing and enhanced marketing attracted a serious buyer who recognized the aircraft’s value. After several discussions and negotiations, we successfully secured a full-price offer.
Conclusion
This case study exemplifies the critical role of an aircraft broker in the buying and selling process. By leveraging market knowledge, strategic pricing, and effective marketing tactics, we were able to help our client achieve a successful sale at a price that exceeded their initial expectations. For aircraft owners looking to sell, engaging a knowledgeable broker can make all the difference in navigating the complexities of the market and maximizing the value of their asset.
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