Club Homepage Forums Classified Ads Buy & Sell - Everything But Airplanes Whaddiya think it should go for?

I am currently in the process of a similar rebuild project.

The 13000$ overhaul price is somewhat optimistic in my opinion, I just zeroed my engine and being an AME (Canadian version of the A&P but more refined :p) my costs are above 10000$ and I don't have to pay for my labor.... or turn a profit or carry an expensive insurance to cover liability.

The time and energy spent on these projects is quite enormous... I don't think it's worth it in this case.... right now the market is tanking and the airplane will not sell easily. Buy a flying airplane...it is cheaper.

Gary is an A&P/IA. IF HE HAS TIME, he can overhaul the engine and repair the mechanical stuff. Slap in a new windscreen, some used seats, interior plastic and radio. Get it a cheap paint job. Lease it back to an FBO for flight training and make some money. Most students don't care much about the appearance of a rental plane, as long as it's safe and sound and flies good.

Definitely all good points. I talked to Konrad, who is always the thoughtful one. He asked, "What is the final goal?" I don't know.

I had thought about the flight school route...I did well with my last 152. I had thought about starting up a flying club with it, namely for some local friends to build time versus buying a 172 for 125 dollars/hour. I had thought about the fun of the project (yes, I'm one of those who thinks a project of this magnitude is fun.) I don't know. Konrad even talked about a partnership...but we've both already got nicer planes than this one could ever be...(without spending waaaay more than I'm ready to). I had also thought about letting my dad buy half of the finished product (discounting all labor, of course) to have something he could fly in South Carolina...but that's a big risk. If something breaks while it's there (and it's a machine), I won't be able to fix it. But, that'll give him a taste of airplane ownership.

I don't know. It's almost more a situation where buying the plane, even at a low price would help out the seller, acquire a plane that I can tinker on, then perhaps sell it and pay for the engine overhaul and paint job on my current taildragger. I've also thought about selling this one and my taildragger and buying a Cherokee... Okay...that's a lie...

There are lots of things in this equation. Let's say, a decision has been requested by the end of the month. If I'm no more decisive than this by then...I'll probably pass it by. But...dang if the price is right, I could buy it, disassemble the airframe, and work on one piece at a time. So what if it's a multi-year project. I have a nice plane to fly along the way. Hmmmmmm Guess I need more coffee....

Hey Gary,
A mate of mine has just come back from the states & has photos of a D or E model (omnivision) that's been parked in a hangar for a number of years that he says the owner would take $2500 for. Urban legend???? dunno. I'm sure that as an A&P you'd know where to look for the expensive airframe issues. There's also a heap of other aircraft there like Bonanzas etc. I'll try to get more info if you're interested.
DJ

Thanks, DJ. I'm not really in the market for a project plane. But this one just happens to be right at my airport, thus I won't incur any additional charges in getting the plane into my hangar.

But...hmmmm....a sibling to my E model for 2500 bucks? What airport was this plane hangared at?

I'd go with Jim's price point. $4-$6,000 would be it. I paid less than $10,000 for my project, with a good engine (hopefully), new interior parts, new paint, good radios, etc. And I am slowly going through this thing and can testify that doing a project takes ALOT of time, even one that is good shape. Start throwing in unforeseen repairs, and time and money keeps going on up. Then add in kids and women to the mix - um, well, yeah!

My outlook with my project is that it is an asset and I keep an eye on the end value of it. But it is very cool to have my own airplane sitting in my garage, I mean hangar!

My first thought was $5,000. So, I agree with Jim,

I'd agree that the final goal of this should be the first consideration. If the goal is to sell it then you'd have to guess at what the plane would be worth in flying condition a few years from now, the cost of the needed parts and services, and how much value you put on your labor. Use those estimates to determine how much you can afford to spend to acquire the project.

Too bad you and the plane are in TX and I'm in CO. I'd love to participate in something like this for the hours towards an A&P.

Oh my... truer words have never been spoken!!!!!

Yup... fixer-uppers.... even those that are in reasonably good shape seem to take forever and even more money to get to where ya want 'em to be.

Yeppers.

Our birds may be anywhere from 22 to 50 years old, but by golly, they're perpetual three-year-olds when it comes to the attention they need (and deserve!)

But, it's worth it. At least to me.

Gary,

Five grand on the top side.

Engine, prop, paint, interior, glass, radios, plus the rest...with you throwing in the labor you'd be around market value altitude.

If there are corrosion issues....he pays you.

If you're looking at this to buy, restore, resell...I wouldn't touch it unless you're needing to add experience to your mechanical skills.


Jim