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

That is so awesome!!!!!

Do you mind telling us what you paid? At the upper end like my estimate of $8000, or the lower end of $4000-$6000 that someone else suggested.

6500

See I told you so! Just bought it!

Now, you need to email my Dad and he can tell you his experience with putting back together a plane that had truly seen better days!

Let's see some pictures of this ugly duckling, what will someday become a swan!

I'm sure there will be a nice photo-history of the restoration, can't wait to start watching the show!

Older planes (like ours) are not investments like stock or whatever else. You should not look at buying a plane that needs repair and try to calculate return on investment. If this is your goal, buy stock and not a plane. We do this because we love to do it not because it might turn a profit. Besides, when it comes right down to it, owning a plane makes no financial sense.

When you all purchased your cars did you apply the same logic? The average price of a new car today is about 25k and if you’re lucky enough to have it for 10 years what is it worth? Sounds about the same price as a decent, flyable 150.

When you’re standing there looking at a project plane wondering to yourself what it "could" look like and having the means and ability to breathe life back into it creating your own unique new plane then put your calculators away and get off the phone with your financial advisor, suck it up, and get ready to write checks.

If I get 10 good years out of it like my POS car then it owes me nothing. Payment has already been made with countless hours poking holes in the sky looking down on mortal man and countless memories that I would never have had otherwise.

Oh my, I have a tear in my eye.

I hope I don't disappoint you, Matt, but I'm not ready, financially, to embark on a major restoration project. In fact, buying a plane is the last thing I should be doing now.

But, that said, the price is such that I feel like I would be able to, at any time, get out from under the project, even in a hurry if I had to. So, it'll be a slow go, for sure.

Honestly, my biggest motivator was that the seller really had no easy or viable options. The airport administration had terminated the tie-down lease in advance of commercial development on the airport, and time and options were running out.

I feel like I saved a plane from the salvage yard, in a way. I'm going to start with the inexpensive TLC before I delve off into a hundred here, a hundred there...ooh..that's a grand... This is the wrong, nearly the worst timing to buy a plane, but I feel like I'm buying a decent airframe and an engine core. Anything past that is a bonus.

So...I guess I have to borrow Robbie's old tagline..."Eeek! I own two planes!"

Photobucket Link:
152 Project [s152.photobucket.com]

Hey, way to go, your intentions are always the best and your logic is there on the project standpoint and it's not something that will trap you. However you can and will approach it, the work will be top notch! No disappointments here, I just wish I lived close enough to help out!

WTG Gary ! 6,5K is a good deal for a good airframe.