thoughts from a machine sales guy...
When it comes to buying and selling expensive items...
(1) what is expensive? Expensive to one person is pocket change to another... Life is unfair.
(2) On experience, the more experience you have in buying or selling similar machinery at a similar price, the better off you will be...
(3) On markets... Markets are a function of time and location. Planes for sale, don't change location much. The buyers ussually have to travel to see the plane. Some sellers have plenty of time to sell their planes. Often, the rest of their natural lives.
(4) On emotions... Decisions can be based at least partially on feelings. When you find the right plane at the right price you will probably still have the feeling that something else is going to bite. This is a good preservation trait, may not save your life, but may save your wallet some day...
(5) On competition... There is some competition going on between people looking to buy any item. First, be ready. Then, when you see something that matches what you want. Don't drag your feet too long.
(6) There are keys to being emotionally comfortable...
(a) Know your mission, the best that you can for the longest time frame that you can foresee. Mission and time frame are personal.
('b) Know what Mooney best fits your mission.
('c) Know your finances, what you can afford comfortably.
(d) Know what you will do if a valve sticks or a cam rusts.
(e) Know the plane you are buying. There is value in a proper PPI.
(f) Know that not all planes are in perfect condition, not all sales people have your best interest in mind. Some are, and some do.
(g) know that an individual selling a plane may not have experience in buying or selling anything. He may hold the keys to your next ride. It will take more work from you to achieve what you want.
(h) Know that nice planes, sold by ethical people, will feel expensive. If it doesn't, move up to a turbine or a twin...
Visit All American's web site for a base line comparison for your research...
Thanks, that's my writing exercise for the day. how did I do?
Best regards,
-a-