First time buyer and I have been looking at an airplane that is missing the first set of logs but has all of the rest. '80-'94 are gone but the rest are in good order and all ADs complied with. The current owner says the maintenance shop lost the first logbook and I checked the 337 forms and did not see anything that would indicate any damage history. I am a believer that if 337 forms were not submitted then it probably wouldn't be in the logbooks anyway.
The seller seems to be asking a fair price given the missing logbooks, but I just wanted some feedback on how significant older logbooks were and if there would be any hesitation putting money into upgrades on a plane with missing logs.
Also, I will definitely get a pre-buy inspection should I proceed. Thanks for any feedback.