FLYING Media Group 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.”