VRef provided Trade-A-Plane with the following press release about their new market report.
Chicago, IL – June 1st, 2021: VREF Aircraft Value Reference, Appraisal & Litigation Consulting Services, the leading provider of aircraft valuations and appraisals for the aviation industry, released their 1st Quarter 2021 Market Trend report today.
VREF’s subscribers generate over 16,000 complete valuation reports every month. Based on the data collected, we have broken down the top valued aircraft based on aircraft type and where the activity is occurring. The piston fixed-wing market is up 15-35% from the previous 4th Quarter of 2020, and demand continues to outpace the low supply. The current supply is under 1% and, in some cases, under 0.1%.
The twin-engine piston market is also back in demand. The shortage of inventory is primarily due to COVID-19, with people seeking to avoid the airlines or their cars and a new group of small and medium size companies looking to establish an aircraft operation to assist with their business. Based on the number of reported closings, completed appraisals, and valuations from VREF Online, the interest is growing in the twin market. The Baron 55 broke the top 20 list of most valued models for the first time in 2021.
The business jet market has demonstrated that older aircraft with some refurbishments are still desirable assets for many first-time buyers. Smaller light to medium-size models has been selling much faster than the supply chain can handle. Excels, Phenoms, CJs (all variants), older Citations, Learjet 60 series, Learjet 40 series, Eclipses, BJ 400s, Citation Xs, Challenger 300s, and 600s are generating more interest than other models.
Another recent trend has been the substantial increase in single-engine turboprop activity and interest levels. From complex Jet prop conversions to brand new Piper M600s, there seem to be many accomplished pilots seeking more range and speed as post-COVID travel continues to grow. Single engine turboprops are also benefiting from numerous high-performance piston owners trading up. The King Air 90s and 350s also continue to show enormous demand in the pre-owned market.
The peak of the 1st quarter was in April with well over 1400 more valuations completed than on average. Almost 65.5% of valuation activity was from single-engine piston markets.
VREF Aircraft Value Reference, Appraisal & Litigation Consulting Services was founded in 1994 and is headquartered in Des Moines, Iowa, with offices in Buffalo Grove, Chicago, Rockford, Los Angeles, Boise, Daytona Beach, Austria, Switzerland, China, and Australia.
VREF delivers aircraft and engine data through online subscription services (SaaS) and published quarterly digests.
VREF provides valuations, appraisals, and litigation consulting services to a worldwide client base of aviation professionals, including law firms, banks, financial institutions, leasing companies, manufacturers, aircraft owners, aircraft operators, and suppliers. VREF Aircraft Value Reference, Appraisal & Litigation Consulting Services plays a crucial role in advising decision-makers within the aviation industry. VREF is the Official Valuation Guide and Appraisal company for the AOPA.
For further inquiries:
Jason Zilberbrand President of VREF
P: +1-844-303-VREF x 700