Page 22 - Volume 15 Number 2

didn’t do those things a long time ago and enjoyed their benefits or even start doubting our decision to sell.
Decision Sets
For the airplane owner who has made the decision to sell it, the same decision sets occur. Should the airplane be sold at a lower price without overhauling the engine or overhaul ahead of time and raise the price to recover the cost? Same for the paint and interior, major inspections, avionics improvements, and squawk resolution.
The reason it seems to be a tough decision is because it is, in fact, a tough decision and not to be taken lightly. There are myriad factors to consider. It can depend on overall market conditions, market demand for the model and type of airplane, and basic condition of the airplane.
Before beginning to weigh all of these variables, there is some preparatory work that must be done. First, determine which items under consideration are required to be done for the sake of airworthiness, safety, and functional utility. Next, decide which items will make the sale easier by avoiding buyer objections. And, finally consider the items that a buyer can do without, but which may set the airplane apart from the competitors.
Who Is Going to Pay?
In all of the cases, the underlying question and decision for both seller and buyer is who is going to pay. Influencing that decision for both parties is the associated risk for taking on the expense. The seller has two options of how to spend the money; either perform the work and pay the bill, or reduce the price and let the buyer perform the work and pay the bill.
When applying the risk factor to that decision, the buyer will likely apply a larger allowance for risk than the seller because the buyer doesn’t have the experience with the airplane that the seller has.
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FEBRUARY 2011