Used Aircraft Pricing

Murdoughnut said:
I stumbled upon this ad today ...

http://panamacity.craigslist.org/rvs/1426530421.html

...and it got me wondering - are people really that out of touch with what their aircraft is worth? Just curious what some of you who deal in used aircraft have seen.
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Yes, they are.

There are two sides to this coin. On one hand you have people getting upside down on their planes and "have to get" a certain amount out of it. What they don't realize is right now a plane is only worth the value of it's avionics and engine. You could literally scrap the airframe itself and get the same amount of money.

The other side are the bargain hunters who cannot be blamed for trying to get a great airplane for a steal. They think everyone is desperate to unload their planes and won't pay a dime over a set amount unless the plane comes with a flux-capacitor and an assortment of rare Asian flowers. The fact is, they aren't, and the buyers often find out the meaning of Caveat Emptor.

Probably what is happening in this case is the plane owner died and the estate is trying to sell the plane for what they were told it is worth by the decedent. A savvy seller wouldn't have it on Craigslist with such sparse information.
 
esa17 said:
Yes, they are.

There are two sides to this coin. On one hand you have people getting upside down on their planes and "have to get" a certain amount out of it. What they don't realize is right now a plane is only worth the value of it's avionics and engine. You could literally scrap the airframe itself and get the same amount of money.

The other side are the bargain hunters who cannot be blamed for trying to get a great airplane for a steal. They think everyone is desperate to unload their planes and won't pay a dime over a set amount unless the plane comes with a flux-capacitor and an assortment of rare Asian flowers. The fact is, they aren't, and the buyers often find out the meaning of Caveat Emptor.

Probably what is happening in this case is the plane owner died and the estate is trying to sell the plane for what they were told it is worth by the decedent. A savvy seller wouldn't have it on Craigslist with such sparse information.
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Interesting - makes complete sense. It's also interesting to see how "cost of operation" is coming into play - especially when you start seeing Barons and King Airs priced the same. And of course there's the slew of Citations and other business jets collecting dust.
 
25K is not totally unreasonable (it's a little high) for that airplane, depending on how much time there is on the motor SMOH - but it's pretty close to in line with what I've been seeing on the market -prices are always negotiable, you know?

They may have it listed just to see what kind of responses they get. This might just be testing the waters for a more formalized offering elsewhere.
 
killbilly said:
25K is not totally unreasonable (it's a little high) for that airplane, depending on how much time there is on the motor SMOH - but it's pretty close to in line with what I've been seeing on the market -prices are always negotiable, you know?

They may have it listed just to see what kind of responses they get. This might just be testing the waters for a more formalized offering elsewhere.
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TBO is prob 2000 which gives it another 200 hr's or so. 25k is a little high but not unreasonable for an asking price, however the pannel does look a little primitive for that price.
 
galvestonaggie said:
TBO is prob 2000 which gives it another 200 hr's or so. 25k is a little high but not unreasonable for an asking price, however the pannel does look a little primitive for that price.
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That is assuming that the 1800 hours quoted is SMOH - the ad doesn't specify that and it's one of the things that makes me raise an eyebrow.

If it's 1800 TTAF, then that's a different ballgame and may explain the price somewhat, because that's LOW time for an airplane of that vintage.

If it needs an annual, I'd be really concerned about when the last time it was flown and how frequently it was flown before that. From what I've learned around here, frequently-used engines are happy engines.

See what I mean? There's just not enough info in the ad to know if that 25K is justifiable.
 
Its coming from Panama City florida, so its probably corroded out as hell too. I won't buy an airplane from florida unless I can get a mechanic to look everything over for corrosion from top to bottom.
 
I've seen early to mid 70s model 150s, with far less engine time, and far more on the panel going for around $20k. $25k can get you an IFR equipped mid-70s model.

From what I've seen, the 60s model 150s (with the curved dash) typically go for around $15k-$17k - or less with run out engines.

And in this case, I think the fact that it only has 1,800 hours total time is a bad thing - at least for an aircraft built in '66. That's a lot of time sitting most likely.
 
Okay...I went and did some research.

I was wrong about being inline with the rest of the market. It seems that the price is inline with what the market was last year, not this year.

Most everything I saw for similar year at this price point was PRISTINE or in GOOD condition with less than 50 hours SMOH.

So....yeah. This one is a bit high, depending on what the engine times are.
 
That airplane is maybe worth $13k, especially since the engine probably needs an overhaul already. If it only has 1800TT, it has been sitting for most of its life.
 
Murdoughnut said:
I've seen early to mid 70s model 150s, with far less engine time, and far more on the panel going for around $20k. $25k can get you an IFR equipped mid-70s model.

From what I've seen, the 60s model 150s (with the curved dash) typically go for around $15k-$17k - or less with run out engines.

And in this case, I think the fact that it only has 1,800 hours total time is a bad thing - at least for an aircraft built in '66. That's a lot of time sitting most likely.
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I sold my 70K model with perfect paint, ok interior, IFR cert, and 50SMOH for $20k last year before the market dumped.

I don't think the plane only has 1800TTAF, I'll bet it's SMOH. It's not wearing original paint, has modded wingtips, and the avionics have been upgraded ever so slightly. I'll bet that plane has closer to 9kTTAF and has been sitting for a few months.
 
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