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the value of upgrades. Hello Jake Huling here with aircraft sales advisor
i'd like to welcome you to the fifth video report in this new series of reports
called nine steps to successful sale or purchase of your plane
in the last report we discuss selling a plane on your own and the pros and cons
of this approach
we also talked about the importance of keeping control of your information
how to handle brokers when they call you about the plane or selling or wanting to
buy
and why when you are buying or selling a plane on your own
it's vitally important to know your numbers
and to know why a plane is worth what you are asking or is only worth what you
are offering
in this report we're going to cover one of the more
confusing factors in determining a planes value and that is
aftermarket upgrades
and we really want to look at this from three different sides, one is if you own a
plane with upgrades
what are those of grease worth, two if you own a plane and are thinking of adding upgrades,
what makes the best
type of upgrades,
and where you should spend your money, and three
if your buying airplane what upgrades you should be looking for and how much you
should be paying for them.
so let's take a closer look.
obviously we can't cover all of the upgrades out there for all of the jests and turbo props out there
so for todays report i'm going to use the same example that I used in the last report
the King Air B200
now before i go on a lot to say that it's important
that we don't get to focus on what each upgrade is and rather we focus more on
what each upgrade does
and the impact of each one of those upgrades has each in each of the categories
just mentioned
that way we can apply this to any upgrade for any jet or turboprop out there
as you look at each example its also important to remember that there are really
two types of value that and upgrade can add
monetary value and desirability, and each one of those adds value to
a plane
example be if you had two planes for sale with equal prices and total
times
and the same year, but one had more upgrades, that own will often be the one
that sells first
so let's start with exterior options
and we're going to look at the different ways each upgrade adds value to
a plane and how well it
holds its value
now if you plan on adding upgrades
it's important to get an actual estimate for your spec plane in writing
so you have a number you can count on also depending on where you go
the market and inventory prices will of course vary.
engine upgrades this is one of my favorites an engine upgrade can add a large
performance gain and add value to your plane
and if changed out on an overhaul, especially on a king Air on a third overhaul,
it could even save some money and
it comes with a nice new engine warranty
you fly faster
you fly farther and that means you get we're going quicker and also means
less total time added to your engines an airframe.
but make sure when choosing a facility its is a good reputable one if
you ever need any recommendations give me a call or send me an email send email because i'll be happy just a
I would be glad to pass on plenty of good recommendations
over all this upgrade does a good job holding it's value
and it definitely adds desirability to a plane.
this is an example of the type of upgrading that gives you value on several levels
performance
passenger comfort because of the quicker flights and also helps keep the value of
your plane up, again because of less total time on the engines and the airfare
upgraded four bladed props
this one goes very nicely with engine upgrades
it adds even more performance and the right ones
can even make your cabin noticeably quieter and for the king Air you also have a
new option from Raisbeck, its actually the first business aviation turbine prop
using swept wing technology and is really cool
it adds even more performance for takeoff
climbing and landing
keeps the noise reduction down
and looks really good on the plane this is another example of a type of
upgrade that gives you value on
several levels
you're not going to make money on this one
but it will hold most of its value and you get a quieter cabin
increase performance and again with the swept wing props
it definitely adds to look of the plane
that's also an example of the type of upgrade
that builds on top of another great upgrade
so the upgraded props on their own without the upgraded engines will not give you
as big a performance increase as with the upgraded black hawk engines
and the same goes for the engines without the upgraded props, you don't get
nearly as much an increased so any upgrade that complements another upgrade
gives you almost a bonus value
ran a recovery for the King Air
I chose this one because it's an interesting example, it does give you
some increase in climb cruz and help keep the engines cooler
and it's a some on fuel but it mainly only has an increase in value
in one area
it doesn't change where the plane looks and it really doesn't give the
passengers
a more noticeably comfortable flight
it's still a good upgrade
but not everyone would see the value in one like this
if it were already on a plane you were thinking of buying
that would be a bonus
or you were considering adding it to your plane and you
just wanted it just for yourself i'd go for it
but don't have this type of upgrade if you are thinking it will help you sell your
plane
or make you money
however with the right buyer if you have it on your plane it will hold some of its
value and add desirability, again with the right buyer
let's take a look now
at some interior upgrade options
new interior and new paing
i put these together even though i know paint is not interior, because they
they are so often done at the same time and they go
so well together. this is a great way to increase desirability and value
and the appearance of your plane
it can take a dated worn out looking plane and make it look and feel like new
it's also a great weight customize your plane to your personal tastes
wants and needs
paint and interior make by far the biggest visual difference
and feel to a plane
but be careful here because you can also get really easily carried away
with costly options
these two upgrades combined give you value on several levels
passenger comfort and configuration
and new and custom look for your plane and it definitely helps sell your airplane
when yours looks new inside and out compared to one that looks worn and
outdated
lastly let's take a look at upgraded acionics
this is an upgrade
as one of the biggest ranges in cost
you can go from a base gps like maybe a garmin 400 all all the way to a top
end garmin G1000 glass cockpit
the cost range anywhere from like fifteen thousand for a basic gps
all the way up to
three hundred and fifty thousand for a garmin G1000
this one does add value on several levels on a King Air for example
it can save you hundreds of pounds by getting rid of heavy old instruments
and miles of wire
be much easier to navigate and give you a more modern look in the cockpit and
it definitely adds to safety
however if you're going to upgrade any avionics
do it because you want to not because you want to make money
overall this upgrade does hold some of its value
an depending on what you have it will
definitely give you
added desirability on your plane
you just wont get your money back on this one so be aware of this
and there are of course many other options we talk about
but this gives you an idea of what to look for in upgrades and the different
ways they can add value to your plane
it's also important consider
what you want and what you really need i recommend going through your list
and deciding on your priorities before you start shopping
you can always look for everything on both lists but when you have to make a
hard choice
it's really nice to already have your important decisions made
let me leave you with this last and very important tip
one thing you should always do
with each plane you are looking at buying
is to find out if there are any upgrades
or mods that are almost mandatory
i'm currently looking for a plan for customer that makes a great example i'm
looking for a citation excel for them and
i want to find them the best plane in the world
and in the range of years they're looking at buying
there was an option for an externally serviceable lav
now Im going to tell you there should never have even been an option and they actually
change that later on in the planes because if you don't have this
you have to service the lave
from inside the plane and drag everything through the cabin of the plane
that can also lead to
unpleasant smells and even some
dripping if i can put it gently which is just really gross
so when buying a plane make sure make sure you know if there is anything of
particular importance
for that make
model in year that you really want to be looking for
in my next report we're going to cover setting a budget at understanding the
trade difference
so that's it for this report thank you so much for joining me on his fifth step
in my new series of reports called
nine steps
to successful seller purchase of your plane
this is Jake Huling with Aircraft Sales Advisor,
and i look forward to seeing you on the next one.