brien23
Cleared for Takeoff
VREF why do so many not see the value in it, most aircraft will sell for VREF value.
VREF
- Thread starter brien23
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Eric Gleason
Pre-takeoff checklist
There’s been much question over the years on how accurately it reflects market conditions. It’s a reasonable starting point, though.
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brien23
Cleared for Takeoff
In what way? Too high, too low does not take into the price if the plane is located in the gulf states or dry states. How could they change the information required to better set a price? Kind of like the blue book price on cars not everyone seems to think that price is accurately reflecting market conditions except the bank that loans money on it.
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brien23
Cleared for Takeoff
So you put no value on VREF as a tool to find the value of any aircraft. How can watching the market be a better way, what sells, how fast it sells, at what price just how do you figure that out.
bflynn
Final Approach
A lot of people complain about vref because it's an estimate. Kind of how people complain about KBB and Zillow.
At least some of the complaints come from professionals who want to be the ones to set prices.
Eric Gleason
Pre-takeoff checklist
I'm not sure how to have a conversation when I say "It's a reasonable starting point" and the response is "So you put no value on [it]..." One thing that price reference tools are bad at is responding to rapidly changing markets. The aircraft market is really hot right now--especially on certain models--and this change happened faster than Vref could possibly keep up with. And like Brian said, it's an estimate, not a valuation of any specific aircraft.
Try it for yourself. Look at a few planes that are for sale and plug their specs into Vref to compare the pricing to Vref's estimate.
Zillow's a different kind of animal because it's not a price reference tool. In fact, I'm not sure what it is, but it's estimated prices are wildly inaccurate, particularly in hot markets. It can easily be +/- 40% in my area, where it's a seller's market.
Challenged
Pattern Altitude
I've tried the analysis tool on TAP on a few different makes/models:
Rcmutz
Cleared for Takeoff
Yeah...I’ve been watching the market. Like the 1965 182 for over $100K, with mid time engine , 1970 avionics. That is a sure sign of the market value of aircraft! Or at least a guy who doesn’t want to sell his aircraft.
“Dear, I have it up for sale, but no one is interested. Must be a down market. Guess I have to keep it.”
Kenny Phillips
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Kenny Phillips
Of course I sold my 172 at the low flat spot in 2013.
Shepherd
Final Approach
It's all point of view.
If you are selling it's too low, if you are buying it's too high.
If you are selling it's too low, if you are buying it's too high.
Ben Diss
Pre-takeoff checklist
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BenD
VREF is wildly off on some things, and remarkably close to market on others. I find it's bare hull value to be good and it's reduction for high time engines to be good, but it's valuation on mods and equipment to be far off. I just use the parts that make sense and adjust the others. After all, if I'm looking to buy a plane my personal valuation of an item is likely different than anyone else's.
I like v ref,just one of many things to check ,when buying or selling,unfortunately ,dealers/ brokers like to use v ref when selling ,but stay away from when buying or trading ,your aircraft.