FLYING has introduced PlanePrice, an online valuation estimate connected to aircraft listed on AircraftForSale.com. PlanePrice brings transparency to the aircraft market by providing a fast and free way for prospective buyers to know the approximate market value of an aircraft—without requiring a subscription to a third-party aircraft valuation tool.
PlanePrice uses pricing assessments from a combination of private and public sources using thousands of recent and historical aircraft transactions. The platform utilizes artificial intelligence (AI) that considers each aircraft’s unique features to provide a current market estimate for it. PlanePrice is available only on Aircraft For Sale, FLYING’s aircraft marketplace.
“PlanePrice marks a revolutionary milestone for both buyers and sellers in the aviation industry,” said Ian Hoyt, FLYING’s director of marketplaces. “PlanePrice harnesses state-of-the-art AI techniques and a vast historical aviation data catalog to develop the fair market price for any aircraft. Every aircraft is different, so PlanePrice utilizes deep contextual information to determine a fair price for each individual aircraft, taking into account its unique characteristics and history.”
The platform, using a combination of current market trends and pricing curves, provides transparency to prospective buyers, giving them the valuation range of any specific aircraft listed on Aircraft For Sale. Recent transactions with similar characteristics and current aircraft market activity are heavily weighted in PlanePrice’s model, providing unparalleled transparency.
“For years, consumers have had access to free car and housing price estimate tools on listing marketplaces,” said Hoyt. “Until now, no aircraft marketplace has provided this information for free in the shopping process, creating anxiety for buyers and sellers alike. Much like Zillow’s Zestimate has become the go-to resource for understanding the current market value of homes, or how CarGurus’ auto listing marketplace has empowered buyers to know if a price is fair or not, PlanePrice aspires to do the same thing in the aircraft market.”
FLYING continues to invest significantly in Aircraft For Sale, creating the most transparent and comprehensive aircraft buying resource in the world. In addition to adding PlanePrice to the marketplace for aircraft valuation transparency, FLYING plans to combine content from the extensive archives across FLYING Media Group’s (FMG) platform.
“FLYING has the largest archive of content, editorial reviews, reports, and intelligence on aircraft of any platform in general aviation, dating all the way back to 1927,” said Craig Fuller, CEO of FMG. “If a consumer is looking at any aircraft in the market, chances are that FLYING or one of our other 20 aviation media brands, including Plane & Pilot, AVweb.com, KITPLANES, Aviation Consumer, or Aviation Safety has profiled that specific make and model. By linking this content to Aircraft For Sale, consumers will have additional information, helping them make informed decisions about their prospective purchase, comparing all the available aircraft in the market.”
Aircraft For Sale reaches more prospective aircraft buyers than any print or online classified resource in the world. In addition to having one of the largest online aircraft listings, Aircraft For Sale offers a print edition that is mailed to the homes and offices of every single FLYING subscriber and is also available at thousands of FBOs.
