Steve Varsano talks with a jet owner about selling their $23 million aircraft, now worth $2-3 million. The interior rates 6 to 7.5 out of 10, with over $1 million spent annually on maintenance. Steve says a full interior overhaul is needed to make it marketable.
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What number do you think the airplane's worth?
2 to 3 million. That is my number.
On a 10 scale, what would you say the condition of the interior is?
So the plane is used by us. The condition is really good because we really look after our planes. We did do the major maintenance. If I am the buyer, I would say it's 6 out of 10. If I'm the seller, I would say 7.5 out of 10.
Okay, now that sounds pretty honest. I know the airplane, and in these airplanes, if you just put a new carpet in, it makes an airplane look a whole 1 or 2 digits better. And the paint is original, right?
Yeah, everything. We did every year more than a million. I'm pushing to sell the airplane, to be honest.
You've done 2 deals with me also, and you did them with me first. Then you traded me out for— So I'm the one who should be upset.
No, that's why I'm coming back to you, because I know who you are. But I'm telling you, it's under me now. My nickel's under the bus.
And did you design the interior? It's all done?
Yeah, all done, all done.
Because you remember who designed the one you have now?
Yeah, I remember.
Yeah. Me.
Some crazy guy have a 380 Airbus office in London.
I'll send you the document now. After the 30th goes by, let me know the schedules of the airplane for the next week, and then we can send the photographer to take the pictures.
Okay, go for it.
All right, buddy. Thank you. Take care. Bye-bye. This is an airplane that they were first taking delivery of 10 years ago. I met them 10 and a half years ago. I said, you can't do this. You have to change everything around because you'll never be able to sell the plane. They changed the whole interior of the airplane. They've had it for 10 years. They gave it to somebody else to try to sell for him for the past year. They didn't ever get it done. We'll see if we can do it.
