As an airplane class, the TBM series single engine turboprop class is relatively small so the number of sales transactions is usually small as well. In the first quarter of 2016 there were 22 total sales of TBM 700/850/900s with the majority (13) being in the 850 model versus only 7 sales for all three 700 versions (A/B/C). Most of the sales revolved around sellers moving up to the 850 or 900 series.
There are only (3) 900s on the market, two at “make offer” and one asking $3.75m. Asking prices for the 850 model range have remained fairly steady even seeing a 1% increase in the average list prices, indicating that sales numbers are supporting the asking prices. In the 700 category the prices have slipped nearly 3% as their age and airframe/engine times climb.
According to VREF, retail value for a 2010 TBM 850 should be around $2.32m which is on track with the average asking price of the aircraft on the market. There are currently (30) 850 models listed for sale. With the newest version, the 930 being delivered now, we do anticipate more 850 owners wanting to trade up to the 900 or 930, potentially pushing prices for the 850s down some.
VREF values for a 2004 700C2 track right with the average listing price of $1.49m for 700C2s on the market at the end of Q1. There are only (50) 700C2 models on the market for sale.
The news is not as good for 700A/B models. According to VREF a 1995 700A should be worth $1.12m but the average list price was only $1.05m (-$70K). Similarly, a 700B shows a VREF value of $1.24m but the average list price was $1.095m (-$145k) indicating that demand is declining for the older models. There are (12) 700As and (7) 700Bs listed for sale.