If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below. |
|
|
Thread Tools | Display Modes |
#1
|
|||
|
|||
current small aircraft market????
In the 'Would you buy this engine' thread,
Peter R. said "With the glut of aircraft on the market" and John Galban said "with the airplane market heavily favoring the buyer these days," I have been watching the for sale adverts looking for a Decathlon, and seem to note a LOT more aircraft than I remember being normal. I am not sure if this situation has been developing for some time or if it is just a normal seasonal thing. I cannot comment on the actual sale prices but the asking prices do not seem to reflect the increased supply. Comments? ? |
#2
|
|||
|
|||
current small aircraft market????
On May 19, 4:57 pm, "Private" wrote:
I have been watching the for sale adverts looking for a Decathlon, and seem to note a LOT more aircraft than I remember being normal. I am not sure if this situation has been developing for some time or if it is just a normal seasonal thing. I cannot comment on the actual sale prices but the asking prices do not seem to reflect the increased supply. The situation has been building for over a year. My best guess is that increased fuel prices have put a damper on the market. I know several owners that have had their planes for sale for over 6 months, with little interest. The asking prices are still high, but the actual selling prices are not. One of my airport neighbors finally found a buyer for his plane. It had a runout engine, but was otherwise perfect. No mechanical squawks, great panel, all leather interior and excellent paint. After nearly a year on the market, he sold for 60% of his asking price. John Galban=====N4BQ (PA28-180) |
#3
|
|||
|
|||
current small aircraft market????
On May 19, 4:57 pm, "Private" wrote:
In the 'Would you buy this engine' thread, Peter R. said "With the glut of aircraft on the market" There is also the possibility that the new Light-Sport Aircraft flooding the market have an influence on the market. There are over 100 LSA models available now and more coming everyday. Fun flying for 4 to 5 gph sure is nice when gas costs $3 to $4 a gallon. Looking at statistics pilots fly less than 100 hours a year and carry one or less passengers so the Light-Sport Aircraft can cover most of the fun flying done today statistically. I'm not saying the LSAs are doing all the flying just that they might be having an affect and growing. Have a good day and stay out of the trees! See ya on Sport Aircraft group http://groups.yahoo.com/group/Sport_Aircraft/ and John Galban said "with the airplane market heavily favoring the buyer these days," I have been watching the for sale adverts looking for a Decathlon, and seem to note a LOT more aircraft than I remember being normal. I am not sure if this situation has been developing for some time or if it is just a normal seasonal thing. I cannot comment on the actual sale prices but the asking prices do not seem to reflect the increased supply. Comments? ? |
#4
|
|||
|
|||
current small aircraft market????
John Galban wrote:
On May 19, 4:57 pm, "Private" wrote: I have been watching the for sale adverts looking for a Decathlon, and seem to note a LOT more aircraft than I remember being normal. I am not sure if this situation has been developing for some time or if it is just a normal seasonal thing. I cannot comment on the actual sale prices but the asking prices do not seem to reflect the increased supply. The situation has been building for over a year. My best guess is that increased fuel prices have put a damper on the market. I know several owners that have had their planes for sale for over 6 months, with little interest. The asking prices are still high, but the actual selling prices are not. One of my airport neighbors finally found a buyer for his plane. It had a runout engine, but was otherwise perfect. No mechanical squawks, great panel, all leather interior and excellent paint. After nearly a year on the market, he sold for 60% of his asking price. I think fuel costs are just one part of the overall situation. Where I live there are several other problems. One, it is getting hard to find good maintenance for light airplanes. Several of the small airports around no longer have an A&P on the field. Insurance costs are higher and getting harder to get. I can't fly in my company's general aviation program as I can no longer buy the $1MM "smooth" insurance my company requires. This was readily available in the mid 90s before 9/11. Add these challenges to fuel costs and availability of so many other forms of entertainment and it isn't hard to predict the future of GA. Matt |
#5
|
|||
|
|||
current small aircraft market????
Matt,
is $1MM flat not available or just too expensive. I'm trying to design an employee pilot program for my company and am gathering data like that. I filed for a quote the other day and still haven't heard back so maybe the market is really drying up. -- Jim Carter Rogers, Arkansas "Matt Whiting" wrote in message ... John Galban wrote: On May 19, 4:57 pm, "Private" wrote: I have been watching the for sale adverts looking for a Decathlon, and seem to note a LOT more aircraft than I remember being normal. I am not sure if this situation has been developing for some time or if it is just a normal seasonal thing. I cannot comment on the actual sale prices but the asking prices do not seem to reflect the increased supply. The situation has been building for over a year. My best guess is that increased fuel prices have put a damper on the market. I know several owners that have had their planes for sale for over 6 months, with little interest. The asking prices are still high, but the actual selling prices are not. One of my airport neighbors finally found a buyer for his plane. It had a runout engine, but was otherwise perfect. No mechanical squawks, great panel, all leather interior and excellent paint. After nearly a year on the market, he sold for 60% of his asking price. I think fuel costs are just one part of the overall situation. Where I live there are several other problems. One, it is getting hard to find good maintenance for light airplanes. Several of the small airports around no longer have an A&P on the field. Insurance costs are higher and getting harder to get. I can't fly in my company's general aviation program as I can no longer buy the $1MM "smooth" insurance my company requires. This was readily available in the mid 90s before 9/11. Add these challenges to fuel costs and availability of so many other forms of entertainment and it isn't hard to predict the future of GA. Matt |
#6
|
|||
|
|||
current small aircraft market????
Jim Carter wrote:
Matt, is $1MM flat not available or just too expensive. I'm trying to design an employee pilot program for my company and am gathering data like that. I filed for a quote the other day and still haven't heard back so maybe the market is really drying up. I was flat out unable to find this coverage. If you find someone who will write such a policy, please let me know. I didn't try Lloyds of London, but I called AOPA and a also private insurance broker that supposedly can deal with any company other than AVEMCO (which is who I think AOPA uses) and both told me that $1MM smooth simply wasn't available. Matt |
#7
|
|||
|
|||
current small aircraft market????
On May 19, 10:36 pm, Matt Whiting wrote:
I was flat out unable to find this coverage. If you find someone who will write such a policy, please let me know. I didn't try Lloyds of London, but I called AOPA and a also private insurance broker that supposedly can deal with any company other than AVEMCO (which is who I think AOPA uses) and both told me that $1MM smooth simply wasn't available. Matt Matt, We have had $1M smooth with USAIG the last several years starting when we both had less than 500hrs and without instrument ratings. Last year, we checked around and found that AOPA agreed to offer $1M smooth with AIG but with a somewhat higher premium than USAIG so we stayed with USAIG. Previously, AOPA told us that they could not offer $1M smooth, maybe the change had something to do with the fact that we got over 500hrs and with instrument ratings. We stayed with USAIG this year but switched agency since the previous one could not get us additional insured with waiver of subrogation free of charge for Guy Maher, a CFI specialized in Cardinal operation (whom we plan to take a training course this summer). Through the new agency, I learned that we could reduce our premium from $1545 to $1311 with $2500 deductible for the hull coverage (insured at $60K). This is about the same as what we got before with AIG for the $1M with $100K sublimit. Hai Longworth |
#8
|
|||
|
|||
current small aircraft market????
"Matt Whiting" wrote: I was flat out unable to find this coverage. If you find someone who will write such a policy, please let me know. I didn't try Lloyds of London, but I called AOPA and a also private insurance broker that supposedly can deal with any company other than AVEMCO (which is who I think AOPA uses) and both told me that $1MM smooth simply wasn't available. I must be missing something here. I just upgraded my coverage to $1M smooth through the AOPA agency with no trouble. Cost me an extra $600/yr. -- Dan C172RG at BFM |
#9
|
|||
|
|||
current small aircraft market????
Longworth wrote:
On May 19, 10:36 pm, Matt Whiting wrote: I was flat out unable to find this coverage. If you find someone who will write such a policy, please let me know. I didn't try Lloyds of London, but I called AOPA and a also private insurance broker that supposedly can deal with any company other than AVEMCO (which is who I think AOPA uses) and both told me that $1MM smooth simply wasn't available. Matt Matt, We have had $1M smooth with USAIG the last several years starting when we both had less than 500hrs and without instrument ratings. Last year, we checked around and found that AOPA agreed to offer $1M smooth with AIG but with a somewhat higher premium than USAIG so we stayed with USAIG. Previously, AOPA told us that they could not offer $1M smooth, maybe the change had something to do with the fact that we got over 500hrs and with instrument ratings. We stayed with USAIG this year but switched agency since the previous one could not get us additional insured with waiver of subrogation free of charge for Guy Maher, a CFI specialized in Cardinal operation (whom we plan to take a training course this summer). Through the new agency, I learned that we could reduce our premium from $1545 to $1311 with $2500 deductible for the hull coverage (insured at $60K). This is about the same as what we got before with AIG for the $1M with $100K sublimit. I wonder if that is because you had an existing policy? I have 600+ hours and am instrument rated also, but I checked on insurance just last January and was told flat-out that I couldn't get $1M smooth initially. I sent and looked and I kept the email: ----------------------------------------------------------------------- I emailed you a quote for liability only, I hope you received it. The company I quoted is AIG. The highest limit they will offer at this time is the industry standard 1mil/100K. They will require at least 50 hours in the make/model before they would offer higher limits, maybe next year. If you have any more questions, or wish to bind the coverage, just give me a call. Regards, We cannot accept bind and change requests via email. Jeanie Shogren Account Executive AOPA Insurance Agency, Inc. P. O. Box 9170 Wichita, KS 67277 Phone: 1-800-622-2672, ext. 177 Fax: 316-942-0091 |
#10
|
|||
|
|||
current small aircraft market????
Dan Luke wrote:
"Matt Whiting" wrote: I was flat out unable to find this coverage. If you find someone who will write such a policy, please let me know. I didn't try Lloyds of London, but I called AOPA and a also private insurance broker that supposedly can deal with any company other than AVEMCO (which is who I think AOPA uses) and both told me that $1MM smooth simply wasn't available. I must be missing something here. I just upgraded my coverage to $1M smooth through the AOPA agency with no trouble. Cost me an extra $600/yr. I couldn't get that initially. Yes, they told me after 50 hours they would consider an upgrade. I'm assuming you've had your airplane for more than 50 hours. :-) Matt |
Thread Tools | |
Display Modes | |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Would ~ 500 planes depress the U.S. used aircraft market? | OtisWinslow | General Aviation | 0 | August 25th 05 09:42 PM |
Would ~ 500 planes depress the U.S. used aircraft market? | OtisWinslow | Owning | 0 | August 25th 05 09:42 PM |
Would ~ 500 planes depress the U.S. used aircraft market? | [email protected] | Owning | 15 | August 24th 05 09:40 PM |
Would ~ 500 planes depress the U.S. used aircraft market? | Dave S | General Aviation | 11 | August 24th 05 12:19 PM |
Would ~ 500 planes depress the U.S. used aircraft market? | Dave S | Owning | 0 | August 23rd 05 03:02 AM |