I just saw a 1972 C-150 Aerobat on eBay, 3600TT, good engine times, nice plane for $18K starting bid, but when I got home this morning, the auction was pulled....maybe someone emailed him and said it was worth at least $25K to start.
The most valuable 150's are the Aerobats, ones with long range tanks, and those with 150HP conversions, as well as low time cream-puffs that were privately flown and are mint! ( i.e. the Williams 400hr Aerobat time-capsule although the radios were museum pieces)
Taildragger conversions can be a plus or minus depending on the preference of the buyer, and there are different types of conversions out there. I think the spring gear ones look the best (especially the straight tail fastbacks), and the tube gear ones are too low to the ground. No offense to anyone- I hate asparagus, too!
Planes with full IFR goodies seem to command high prices as well, but "most" IFR training is done in 172's, and in my opinion a ton of nav-coms just weighs the plane down, and 22.5 usable doesn't make a superior instrument platform. 90 knots should be your approach speed, not your cruise! Also, the avionics package in the plane may not be to your liking, or fit your needs. (dated) A KNS-80 was the hot item in the 90's, but now it's GPS, so yes an IFR 150 would be worth $40K+, if the package was new King radios and a Garmin 430 or better.
I just sunk about $13K in a new engine FWF plus accessories (all new) and a year later a complete strip and Jetglo paint job for $11.6K (original trim design- extra cost for Aerobat stripes/checkerboard)and that doesn't include most of the labor as I have an A&P, so even if you include the $6750 I paid for the plane in 1988 (boy, was that a deal!)I have approx. $31K and change into it. (Obviously, that doesn't include the 19 years of other expenses, operating costs and so on) Granted, you cannot find a 150 under $7K any more unless it's a wreck or a corrosion queen, so if you factor the cost of a run-out 150 with crap paint selling for around $15-16K, then add the current prices for a complete paint and engine overhaul (estimate $25K for both)- that's where you see the $30-40K asking prices. So when you see high airframe time( 7000-8000hrs or more) 150 with decent paint and maybe it's at 1600SMOH, you need to be realistic about what the current owner is asking. What you don't need to do is reimburse him for everything he spent on the plane, all the radios he added, and all his flying lessons as well!
Carl, and others are correct, at any given time there's a boat load of 150s for sale on all the sites and publications. Sometimes the best deals are planes that AREN'T for sale, planes at your local field, or one owned by an acquaintance, who when approached about selling their plane, suddenly see the benefit of passing ownership to you.
The best thing to do is research the year/model you like, the radios you need, and the remaining engine times you can live with before you have to start overhauling things, as well as the condition of the interior furnishings.A trashed interior, torn seats, broken faded plastic and even a crazed windshield can add thousands to the cost to refurbish. Make a list and stick to it!
This was brought up earlier on the forum, buying a 150 with mid time engine, say 1200 hrs or so, then you fly it for 400 hrs and figure on selling it, you won't get anywhere near what you paid for it because the next buyer knows it only has a couple hundred to go till TBO. Also, at mid-time you may get a sudden surprise where you have to "top" the engine to make it to TBO, or if it's close to that time, you might end up doing an unexpected early overhaul.
If you are looking for a 152, they seem to command a little higher price than 150s, and if the Chinese are starting to buy them for export, the price will increase even more. Many 152's have airframe times over 7000 hrs as the flight schools continued to use them long after the 150s went to private ownership.The 152's were made in '78, '79, '80 and 81 until they trickled to a halt a few years later, but most are 78-80,where the 150s were made from 1959 'till 1977, so there's more options and models to choose from.
Good luck with your search, and do post info here about any plane you are considering, there's a wealth of info and experience here.
-Brian

Last edited by Brian_Anderson; 10/10/07 05:09 PM.