No used DA62 for sale

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StuartJ
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No used DA62 for sale

Post by StuartJ »

A friend pointed out that there are no used DA62s currently for sale on Controller. Good news for anyone thinking of selling.
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VickersPilot
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Re: No used DA62 for sale

Post by VickersPilot »

At this point in the market - everybody should buy NEW. The supply is so tight, the vendors who are selling are not applying "normal depreciation" to their sales price. Take the hypothetical two extremes in the market, where used aircraft selling at either low depreciation (now) or high depreciation (Fed not increasing M2 @ 25% p.a.). The inverse of that - is that someone thinking of selling should definitely do it now.

By buying new, you have the following advantages:

1) No Pre Buy Inspection + No Pre Buy rectification of buyers responsibility.
2) No Used Broker Fee
3) New Engine Block - 1800 hrs vs 900hrs
4) NXI Phase III (no GIA64, GMA upgrades - plus "Phase III" software later 2021)
5) Warranty
6) Life Limited Parts = 0 hrs
7) Product Improvements
-reinforced flap
-updated door design (what is this, it's in the IPC?)
-alternate static fix
-less paint/cosmetic depreciation
-updated gearbox version, etc
8) Life is short - new airplanes smell better!

Further, you will be selling a newer aircraft in the future and will recoup a higher value. This, combined with the above advantages mean now is the time to buy new, not used as there is an insufficient price gap between them.

Could anyone more knowledge of the aircraft history perhaps provide a more detail "Product Improvement" list over the years? The DA62 is one of the finest flying platforms, perhaps the single finest aircraft with a piston engine out there and I think the market has suddenly caught on.
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Re: No used DA62 for sale

Post by MackAttack »

The market is definitely tight but not everyone can jump on a new airplane for 1.4 mm. Agree that anyone considering selling would be wise to do so now. Six months to a year from now the market may change ... but no matter what, if you buy new (or at close to new prices), at some point, someday, depreciation will catch up to you. It's really just a question of musical chairs - you don't want to be the person without a chair when the "hot market" music stops.

The same phenomenon is hitting other segments of the GA market too. Good time to sell generally for late model aircraft. Legacy aircraft are a bit spottier just based on some information review and talking to a few brokers.
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Re: No used DA62 for sale

Post by Paul »

Anybody know what's in phase III software?
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Re: No used DA62 for sale

Post by VickersPilot »

MackAttack wrote:
Fri Feb 19, 2021 4:44 pm
The market is definitely tight but not everyone can jump on a new airplane for 1.4 mm. Agree that anyone considering selling would be wise to do so now. Six months to a year from now the market may change ... but no matter what, if you buy new (or at close to new prices), at some point, someday, depreciation will catch up to you. It's really just a question of musical chairs - you don't want to be the person without a chair when the "hot market" music stops.

The same phenomenon is hitting other segments of the GA market too. Good time to sell generally for late model aircraft. Legacy aircraft are a bit spottier just based on some information review and talking to a few brokers.
I totally agree, the challenge is if you pay $1.25m or $1.3m for a DA62 used as is the case now and do an "apples with apples" comparison of avionics, LLPs etc, you'll find they are a close wash but the used one will return less when sold. Used prices are too high. Of course if you go back to $1.1m for a 2016 model, you'll have $150k of additional costs with NXI Phase II, Keypads, Engine TBO, LLPs etc.... there's isn't a huge difference.

Since there are zero sellers, the used prices appears to have been going up since the end of the summer.
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Re: No used DA62 for sale

Post by VickersPilot »

Paul wrote:
Fri Feb 19, 2021 5:07 pm
Anybody know what's in phase III software?
Paul, I suspect "Phase III" is a name given to the software to unlock the benefits of "Phase II" hardware. What features would you like to see?
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Re: No used DA62 for sale

Post by chili4way »

VickersPilot wrote:
Fri Feb 19, 2021 5:24 pm
Paul wrote:
Fri Feb 19, 2021 5:07 pm
Anybody know what's in phase III software?
Paul, I suspect "Phase III" is a name given to the software to unlock the benefits of "Phase II" hardware. What features would you like to see?
The Phase III software upgrade will require NXI Phase II hardware. The scope is described in a letter from Diamond here: G1000 Legacy & NXI Software Upgrades Announcement.
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Re: No used DA62 for sale

Post by CFIDave »

There have been remarkably few changes to the DA62 since its introduction in 2016. There's a lot that Diamond got right on the DA62 initially, since it was a direct evolution of the DA42 (with which it originally shared its Type Certificate).

1. The big change was Legacy G1000-->G1000 NXi in April 2017, which also included fuel gauges being added to the AUX tanks, heated static ports on fuselage, availability of the optional GCU476 FMS keypad in the center armrest, and GTX33ES transponder-->GTX335R transponder.
(Later avionics upgrades included GTX335R-->GTX345R and FS510 enablement, then NXi Phase I-->NXi Phase II with GIA64Ws and new GMA1360 audio panel with Bluetooth and 3D audio.)
2. Improved engine cowlings made of fire-resistant laminate that no longer have white fire-proof paint on the inside that flakes off and requires re-painting.
3. Nice-looking chrome plates on top of engine nacelles (near intercooler air exits) eliminated.
4. Cheap-looking bent metal levers for emergency gear release and air filter bypass were replaced by nicer-looking cast aluminum levers on each side of the center console where it joins the instrument panel.
5. New data plate on the tail required after Type Certificate was moved from Diamond Austria to Diamond Canada (new TC is no longer shared with the DA42).

Because so little has changed, the best value might be to buy a 2016 DA62 with Legacy G1000 for less than $1M and spend $100K to upgrade it to NXi Phase II -- so it's equipped similarly to a new $1.4M DA62. But 2016 models are hard to find, too.
N62DV DA62 62.056
N42DA DA42-VI 42.N117 (sold)
N811ET DA40 XLS 40.874 (sold)
KJYO Leesburg, Virginia
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Re: No used DA62 for sale

Post by MackAttack »

Those hypothetical "less than $1 mm 2016 models" are not only hard to find, they are impossible to find right now, although presumably they will show back up at some point. But I agree with Dave. Unless warranty coverage is critical to you, that's the most cost-effective pathway to DA62 ownership. Having flown a G1000 DA42-VI in my multi-training, I am glad to know that the NXi versions contain fuel sensors in the aux tanks. The keypad is also nice just from a buttonology/useability perspective, but of course it's not essential.
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Re: No used DA62 for sale

Post by VickersPilot »

Recall that if you purchase a 2016 model with say, 650 hrs, you have a nasty bill coming in 250hrs. The 900hr inspection on pre-mid 2020 models costly and you immediately roll into 1,000hrs MSI. I won't quote exact numbers as I only know the ballpark. Add this to the other associated costs above and you'll realize it isn't as cheap as the entry price appears. However, if you are happy to keep the G1000 legacy with no keypad, no GTX345 and not receive any future software upgrades - it does make more sense.
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