Randy, you're right about the prices. They have gone up, in some instances, way up, and it happened in a relatively short time. Are they going to continue climbing, or maybe come down? Who knows. We didn't see this coming, and have no idea about the future.
What affects the price of a used airplane? According to the AOPA, generally speaking they are:
Engine hours — perhaps the most common influence on resale value. The closer an engine is to its recommended time between overhaul (TBO), the less its value. Equally important is a record of consistent use coupled with a good maintenance program. Regular use helps keep seals and other engine components lubricated and in good shape.
Installed equipment — such as avionics, air conditioning, deicing gear and interior equipment. The big item here is usually avionics that can easily double the value of some older aircraft. Also, older equipment is generally more expensive to maintain.
Airworthiness Directives —ADs are issued by the FAA for safety reasons and are a fact of life for most every aircraft. Once issued, owners are required to comply with the AD within the time period allotted. It’s important to look at the AD history of an aircraft. Check the nature of the ADs and whether they are recurring or one-time compliance. Make sure the logbooks show compliance with all applicable ADs. You can search for ADs on the FAA website or you can have a list prepared by Aircraft Title and Escrow Service.
Damage history — major repairs can affect the value of an aircraft significantly, but may be hard to pin down. A damage history will decrease the value of an aircraft, depending on the type of accident, nature of the damage and the degree to which major components have been involved. Any aircraft with a damage history should be closely scrutinized to make sure it has been properly repaired in accordance with the applicable FAA regulations and recommended practices.
Paint/interior — used on occasion to give "tired" aircraft a quick facelift. Check new paint jobs carefully for evidence of corrosion under the surface. Interior items should be checked for proper fit and condition. Done properly, both items enhance the value of the aircraft.
Airworthiness Directives are the least concern with 150s. There aren't too many of them, and the last one was issued many years ago. A couple of them have recurring requirements, but they are easy to comply with.
Engine hours and installed equipment are the biggest factors.
A uAvionix tailBeacon ADS-B unit costs $2,000. Installation adds to that, but this one is pretty easy so it should be reasonable.
The 152 you linked to has some very desirable things people look for in a 150/152:
- Good paint, good interior.
- The Sparrowhawk conversion. That is very desirable mod as it adds extra horsepower to the Lycoming engine.
- It's being not a Hangar Queen and is being flown regularly
And it has a few undesirable items:
- The engine is getting high on time. 2,000 hours is the TBO, so you've got about 500 hours to go. But TBO is not an absolute number in recreational flying, engine overhaul is on condition.
- Those radios. The ARC radio and transponder are getting long in the tooth.
Don't know if it has complete logs, if it has any corrosion, or the history of the airplane.
All in all, looks like a nice airplane that has been well cared for. Is it worth 50 grand? A few years ago we would be laughing, but today, might be close to the right price. But when you get right down to it, an item is only worth what someone will pay for it.