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What is the best way to determine the value of my airplane? Not looking to sell but want to buy out partner's share. Non-flying partners moved away. I have made and paid for many improvements which I will have to work out with them. However, the basic value today needs to be agreed upon as a starting point. Opinions and experiences appreciated.
Tony

I think you have access to VRef if you're an AOPA member. It's been a while since I used it, but I think it gives you a quote based on average airframe and engine time of a model year, then add or subtract from that based on those numbers of your plane. The value quoted by VRef is usually on the high side of actual selling price.

Don't forget the value added for quality avionics...if there is value there?

I've been checking as well, thinking of selling the Traveler. AOPA Vref, I think, tends to be on the very low side. I've turned to the market and am looking at what they're selling. Now, I have no partners other than the Momma, so. Let your conscience be your guide.

I will check VREF and report to the forum.

According to VREF:
1972 L Model Base Price $19,000
Add $ 520 for airframe time of 5057 hours
Add $5841 for engine for SMOH of 369 hours
Deductions up to $4000 if needs paint
Plus Any additional add ons you feel they are worth.

Basically a subjective assessment. At best.

At best.

You should look at similar listings to see what the actual market will bring. Sellers can ask whatever, but it's the buyers who determine what they are willing to pay. Trade a Plane, Barnstormers, Aircraft Controller all will give a hint to value, but airplanes listed do not mean sales.
Also, the VREF $5800 for engine times does not necessarily reflect true value, that is 369 hours on a factory new engine is a lot different than an engine with 369 SMOH and re-used everything, overhauled same cyls "X" ammount of times....
Even the interior condition could cost several thousand dollars to upgrade if needed. I think of VREF as the value an insurance company would be willing to cover, rather than what a seller could expect.

Brian I agree with all of the above. The plane is mechanically excellent and the interior is also very good. The shame is we paid big $$$ in 1998 for a high end paint job. Unfortunately the cost to hangar a plane on Long Island is a fortune and 17 years outside has been tough.

I hope you don't think I was trashing your plane, I was merely pointing out that VREF might not be accurate if you pony-up cash to "buy out" a partner....

How very true. When I was shopping for my Cardinal I was tracking about a dozen examples for sale. In some cases I called contacted the seller after the plane was sold and (among other things), asked them what the final selling price was.

None of the sellers would give me that answer.

As such, it was very difficult to find out what a plane was truly worth.

One suggestion I do have is to peruse eBay. If you click on "Advanced" Search, you can specify "Completed" or "Sold" listings. That will show you what the plane actually sold for, not what the reserve or asking price may be.

Next, take the specs of such a "sold" 150 or 152 and feed it into Vref. Hopefully, given a few examples, you'll get a consistent answer as to how far off (high, low, or right on the money) Vref may be from actual market prices.