Nobody ever wants to pay the asking price

Gordon Potter of PremiAir Global says: "Every customer is an individual – they are each different, regardless of their country of origin. Each requires a tailored inter-personal approach to understand, communicate and evaluate them. One thing all customers have in common is that the initial price of the aircraft is never the one they want to pay – this is where the fine art of negotiating comes into play.

"But it is two-sided and both seller and buyer have to understand this and be willing to compromise. This is where an accurate market value is essential."

PremiAir Global, part of the UK aviation services business, focuses on fixed wing pre-owned business aircraft in addition to its well-established executive helicopter marketing services.

The shortest time between first enquiry and delivery of the aircraft, Potter says, was five working days on a rotary aircraft. "The buyer already had their deposit in escrow as they had just been let down on another aircraft. Everything was in place and the seller had just completed an annual inspection on the aircraft. It was a very smooth transaction, with just the paperwork and formalities to take care of. However, the longest time frame was seven months from enquiry. This was primarily because the buyer's bank was, understandably, extremely cautious, which led to delays with lots of paperwork and reprints of documents being requested.

"The deposit had already been paid directly to the seller and eventually, through constant contact and communication, both parties reached agreement and the deal was completed. The buyer even brought a bottle of champagne to open at the seller's house on delivery. This particular sale highlights the importance of talking and keeping the lines of communication open, especially when a deal goes a bit wobbly."

Potter says that once the letter of intent is in place, a genuine buyer is usually happy to pay for a demo flight. "It's all a matter of trust and commitment," he adds.