What's the value of an airplane? A very tough question indeed. It totally depends on the attitude and frame of mind of the buyer and seller.
Personally, for myself, function is what values a airplane. Pretty paint is nice, but not a necessity. Snazzy interior is nice, but again, not an necessity. High tech avionics? Same idea. None of these things makes the airplane fly any better or perform any better. What is the general condition of the airplane underneath? How is that engine running? Those are my priorities. To put money into an airplane that you could obviously never get a return from is foolish to me. So I tend to value airplanes towards the lower end of the scale. To me, top price to pay for a standard 100 HP 150 with mid time engine is $20,000. I bought and sold one 150 already. I sold it for approximately the same amount of money that I had put in to it. I now have a 150 HP 150. Unless something drastic happens to the market, I will easily resell it and recoup my money. I plan on putting no more money into it then I plan on recouping.
Now, for the other example, I will use Bill Warner, because he is a friend, (And I hope that he remains a friend!) Anybody who has seen his airplane have no choice but to agree that it is the absolutely most gorgeous example of a Cessna 152 out there. This airplane is far prettier, and outfitted better, then when it came off the assembly line. Gorgeous! Absolutely gorgeous? For Bill, it is the ideal airplane. He was able to pay, and make his additions, at a price which surrounds him in the airplane in which HE is comfortable. He once (mistakenly), asked me what I thought the airplane was worth. I told him maybe $27,000. (I did pad my figure some what because it is such an exceptional airplane.) Immediately, I realized that I had said the wrong thing.
My way of thinking? Yes! It is an absolutely gorgeous airplane. I love looking at it, pointing it out to others, and bragging that I know the owner of this exceptional airplane. But, for me personally, it is still just a 152 underneath. Performance wise, it does nothing absolutely nothing any better then any other 152. Actually it is even less useful. For he will not take his airplane in and out of places that I take mine. For the same money he has invested in that 152, I could have a decent 180HP 170, 172, or 175. With much more function and performance then a 152.
So, what is the value of Bill's 152? Ask one person who really appreciates the finer things and they may give you the high figure of which it may be of the more deserving. You ask Bill, and he will admit that he has far more money in the airplane then he expects to get out of it. You ask a cheap skate like me and I will base the price on a no frills 152. It all depends on the individual.
Is there a right or wrong with the way one happens to think? Absolutely not. Different people have different perspectives. If we were all the same in this world, it would be rather boring, would it not?
So, how much is that airplane you are looking to purchase worth to you? You, the buyer, is really the only one that can answer that question truthfully.
It's not an airplane, but just another example of what I am trying to say. We just purchased this pickup for Justina. How much would it be worth to some of you out there?
Last edited by Grants_Pass_Bill; 08/26/0702:43 PM.
