I paid $14,500 (6 years ago) for 3700TTAF, 900SFREM, MX300, 2nd Narco VOR, 3LMB com panel, dull and flaking paint, complete but worn interior, NDH. Put about 300 hours on her before I hangared her. Straight, solid airframe perfect for restoration (in process). I see one like her every 3 or 4 months for about the same price.
I turned down a 172 with 10,000 hours, next to no paint, NDH, and high time engine, even after being impressed after flying it. He (only the second owner) wanted $18,000! I maybe should have bought that one, too!
My neighbor bought a 175 3000TTAF mid-time engine (GO-300), hail damage (you have to look for it) for $14,000!! He's been flying her for 4 years no problem, after getting his PPL in her!
The high time airplane with high time engine you mention above probably flies just as well as mine did. But, it is no good as an investment! Assuming it has decent paint and decent interior (panel sounds OK), and not counting damage history, hail damage, and WITHOUT the engine, it's probably worth what? $5,500 tops? You've got a $4,500 CORE engine in the nose, that may or may not hold up for awhile. It was a trainer, so likely does have damage history, and does have hail damage. I see this bird as is going for $10K! After paint (replace hail damaged skins), interior, and overhaul, you best plan on flying it for awhile, because you'll have much more invested in it than you could sell it for anytime soon! On the other hand, if you could get her for $10K, and she stays airworthy for another 2 or 3 hundred hours, you can still sell her for $10K (free flying?). But likely not $15K.
Edit: I missed the fact that this is a 152, not a 150 like mine, but considering the extreme high time, I still think while this might be a cheap way to own an airworthy plane, it wouldn't be one you'd want to spend money on for updates!
Last edited by Carl_Chitwood; 12/01/05 04:41 AM.
