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Last year (2016) ended on an enthusiastic uptick after several years of nervous buyers watching frustrated sellers rack up advertising expense. The soft-market effect on piston PA46s, although not as dramatic as the Meridians, caused airborne assets to languish on the lot. The average length of time in the classifieds for a Matrix was close to a year and the Mirage at eight months. On the other hand, the Malibu, manufactured from 1984-1988, faired much better being priced in a range that was easily accessible to transitioning single-engine pilots. A decent Malibu is still highly sought after as illustrated by the active MMOPA Forum. Many feel that late 80s bird was the best incarnation, thus producing a near-cult following.
Mid-year 2016 saw inventory levels of the piston prodigies at the highest numbers in years. Close to 17% of the Matrix fleet was available for sale, and the Mirage was up to 13%. The healthy “cap” is 10%. Those numbers shifted dramatically in fourth quarter when supplies dropped abruptly to 14% and 11.3% respectively. Only three Matrix changed hands in all of third quarter. That number doubled in fourth quarter. For the Mirage, that number tripled from ten units to a whopping thirty.
The underlying reason for the upward swing is many fold, but certainly one can’t resist the impulse to recognize the collective sigh of relief with the passing of the US presidential election. Wall Street, as of this writing, has proven to us that business likes Mr. Trump. We know that General Aviation’s biggest fan is business.
|Current For-Sale Inventory||28||61||5|
|Percent of Fleet for Sale (Current)||14.0%||11.3%||11.6%|
|Pre-Owned Transactions (Q4 2016)||6||30||2|
|Average Days on Market*||325||245||148|
|New Deliveries (Q4 2016)||1||-||5|
*For Aircraft Sold in Recent Quarter. Does not include “Off Market” sold aircraft.