| | Joined: Jan 2007 Posts: 22 Likes: 3 Member | | Member Joined: Jan 2007 Posts: 22 Likes: 3 | Our flying club is thinking about buying a 1976 C150 from someone on our field. The plane is a 1976 150M with 6900 hours. The engine has about a 1000 hours since it was overhauled in 1999. The cosmetics are very good (sorry no pictures). It has a Narco 12D nav/comm and a Narco transponder.
The plane was used as a trainer for most of its life, although I am not aware of any damage history. One of the club mechanics did a quick pre-buy inspection and found only a few minor squawks, and some corrosion on the firewall above the engine mount.
The owner is asking $22,000 for the plane. Assuming the corrosion and other squawks are attended to, is this a fair price for this plane? | | | | | Joined: Jan 2004 Posts: 13,969 Member/10,000+ posts! | | Member/10,000+ posts! Joined: Jan 2004 Posts: 13,969 | The answer to this question greatly depends on each individual definition of value, does it not? So, to offer my personal opinion based upon my personal values: From your description, Bob, this sounds like just an "average" airplane. The engine is just over mid time. There is nothing special in the avionics department. Take a good look at Barnstormers [ barnstormers.com] and the like. I believe that you can find an equivalent, even better, airplane for much less. Except for cosmetic and other minor differences, 1968-1977 are all basically the same airplane. You may wish to keep this in mind so to keep your field as broad as possible. Again. My personal opinion. | | | | | Joined: Jul 2004 Posts: 21,756 Likes: 2265 Member/20,000 posts | | Member/20,000 posts Joined: Jul 2004 Posts: 21,756 Likes: 2265 | Bob,
Club member Bart Deal has a great 150 for sale with much lower times on airframe and engine for just a little more money. You'd do your club a favor to take a looksee.
Jim
Cessna 150/150, N2259M - Mighty Mouse
| | | | | Joined: Feb 2008 Posts: 37 Likes: 3 Member | | Member Joined: Feb 2008 Posts: 37 Likes: 3 | In Jan I purchased my 1976 C150 for about the same price these guys are asking. It was hangered all it's life (I talked to the previous owners) with 3260 total time and about 1500 SMOH. You can save my "avatar" to your computer and enlarge the picture.
Just don't forget about the sales tax (almost $1500 for me) the tach that reads 250rpm too low ($600), throttle cable that broke during the annual ($200), Narco 12D to replace the Cessna 300 ($2100) EAA STC for autofuel ($150) and of course belly drain from the club ($40). Insurance through AOPA ($719/yr) and old hanger ($83/month). Oh ya, I havn't gotten the Garmin 496 ordered yet.
I can afford to lose my shirt on a 150, but not a $150K airplane. This is my first airplane, and I'm being broken in the right way.
No regrets,
Dennis | | | | | Joined: Nov 2006 Posts: 2,362 Member/1500+posts | | Member/1500+posts Joined: Nov 2006 Posts: 2,362 | Bob
There are a lot of 150's with an asking price of $22,000. I think
the club should have an independent A$P evaluate any plane you are thinking of purchasing. That doesn't mean that your club member shouldn't look at it first for his or her opinion. If the burden is on the club member you could jeopardize a valuable asset if the plane turns out not as expected.
John KLWM | | | | | Joined: Nov 2007 Posts: 535 Likes: 8 Member/500+posts | | Member/500+posts Joined: Nov 2007 Posts: 535 Likes: 8 | Hey I got that beat even with a pre buy 22000.00 4500.00 Annual + a 9000.00 engine rebuild + 1400.00 encoder My biggest problem is I DID NOT KNOW THE MECHANIC WHO DID PRE BUY! He said it was a good deal. | | | | | Joined: Jan 2004 Posts: 13,969 Member/10,000+ posts! | | Member/10,000+ posts! Joined: Jan 2004 Posts: 13,969 | Next for the crying towel?? | | | | | Joined: Oct 2004 Posts: 1,497 Member/1000+posts | | Member/1000+posts Joined: Oct 2004 Posts: 1,497 | That would be me.  It looks like the plane is sold.  I was starting to hope that it was a deadbeat bidder, but he doesn't seem to be. At least I should be part owner of an IFR 172 with a GNS430 soon. | | | | | Joined: Jan 2004 Posts: 13,969 Member/10,000+ posts! | | Member/10,000+ posts! Joined: Jan 2004 Posts: 13,969 | That would be me. It looks like the plane is sold. I was starting to hope that it was a deadbeat bidder, but he doesn't seem to be. At least I should be part owner of an IFR 172 with a GNS430 soon. Eric, You don't know just how close I came to bidding on your airplane so that I could save it for you. I was watching it as the time clicked down. I even had the bid typed in. All I needed to do was hit the enter key............... | | | | | Joined: Jan 2007 Posts: 22 Likes: 3 Member | | Member Joined: Jan 2007 Posts: 22 Likes: 3 | Thanks everyone for all of the feedback.
It turns out that both the mechanic who did the pre-buy and the owner of the C150 are members of my flying club. The mechanic operates a maintenance facility on our airport, so we definitely know him and trust his judgment.
It sounds like the consensus of the group is that we could do better than spending $22,000 on this plane. So now instead of one question, I have two:
What is a fair price for this plane?
Given that the members of my flying club will probably put between 200 and 300 hours on the plane each year, should we be looking for a plane with less time on the airframe?
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