Welcome aboard Rob.
As a well experienced buyer or airplanes I can tell you that the most important two things for both the buyer and seller are patients and patients. There are very few if any bargains. (I know that I will hear back on that one.) Most airplane sellers have a pretty fair idea of what they are selling is worth. Most first time buyers may or may not. Occasionally a very patient and expert or very lucky buyer will be able to find a good airplane priced lower than the retail market, but not often.
If you buy an airplane cheap you get a cheap airplane. If you buy an airplane for a lot of money you may still get a cheap airplane. The best that you can hope for is to find an airplane that you like that is priced fairly. A fair price, according to the National Aircraft Appraisers Association, for 1967 150 with new paint, mid time engine. poor interior and a major damage history runs from $13,000 to $20,000. The top end of the price rang is well below the price being quoted to you.
One thing to bear in mind is that when it comes time for you to sell the plane the damage history is still there. It will reduce the price of the plane and make it take longer to sell. Normally I don?t much care about damage history when I am buying a plane, provided of course that the damage has been properly repaired and the repairs are properly documented. Water damage is the single exception. I wouldn?t look twice at a plane that had been submerged. The remediation may have been done well and the airplane may be just fine but then again it may not. There are a lot of good airplanes out there that cost less and have fewer questions attached than the one that you are considering.
You need to feel good abut the plane that you are going to buy but never fall in love with another man?s airplane.
