231 Prices

[phecksel]

I decided to wait a few more months before even thinking about getting current again, much less buying another Mooney... right up until a trusted friend told me about a friend of his business partner's that has a "cream puff" 231 for sale.  Guess the guy is somewhat desperate to sell this one owner cream puff with 250ish SMOH, 4k total.  Fairly recent paint and interior and no damage history.  HOWEVER, it's the original panel.

 

They are asking 87, and it was hinted that 80 was doable, and I haven't made any suggestion of any offer at this point, as even 80 is more than I wanted to spend.

 

Which really brings me to my question, when I looked at 231 prices it seemed like there was a group in roughly 80-90 range, and a bunch in the 120-130 range.  Is there justification (rationalization) for this bi modal price distribution?

[FoxMike]

Could be up to date radios, TKS, fresh paint, no damage vs. .......... .  Choose carefully.

[aaronk25]

I decided to wait a few more months before even thinking about getting current again, much less buying another Mooney... right up until a trusted friend told me about a friend of his business partner's that has a "cream puff" 231 for sale. Guess the guy is somewhat desperate to sell this one owner cream puff with 250ish SMOH, 4k total. Fairly recent paint and interior and no damage history. HOWEVER, it's the original panel.

They are asking 87, and it was hinted that 80 was doable, and I haven't made any suggestion of any offer at this point, as even 80 is more than I wanted to spend.

Which really brings me to my question, when I looked at 231 prices it seemed like there was a group in roughly 80-90 range, and a bunch in the 120-130 range. Is there justification (rationalization) for this bi modal price distribution?

You probably know this but cream puffs can be money pits, do to lack of use. The only way the 250 hour SMOH is a plus and not a drawback is if some one flew it every couple weeks, at a minimum.

If it's 250 SMOH, and the overhaul was in 97' I'd price it as a run out.

[phecksel]

You probably know this but cream puffs can be money pits, do to lack of use. The only way the 250 hour SMOH is a plus and not a drawback is if some one flew it every couple weeks, at a minimum.

If it's 250 SMOH, and the overhaul was in 97' I'd price it as a run out.

It is being flown at least once a month, but your point is well made.

 

I know the money pit issue, that's why I sold my C, while I kept it through a divorce, it was seldom being flown, and the less it flew, the more things that went wrong, leading to it being flown less... viscious circle.

[ArtVandelay]

Which engine does it have in it, GB or LB? Wastegate? Intercooler?

[chrisk]

Which really brings me to my question, when I looked at 231 prices it seemed like there was a group in roughly 80-90 range, and a bunch in the 120-130 range.  Is there justification (rationalization) for this bi modal price distribution?

 

As odd as it may seem, a $130K plane may actually be a better deal.  Look at the cost of an overhaul, new avionics, a paint job, fuel tanks, a new interior, and a prop overhaul.   That list of work could easily exceed $50K.  You have to look at the whole package and how well things have been maintained. 

 

That's not to say the $80K plane isn't a great deal. It might be a well maintained plane with modern avionics.  More than likely it's got 30 year old avionics that will require around $10k to be ADSB compliant in 6 years.  But if it has been flying regularly since the overhaul and the overhaul has been done recently by a quality shop, I would consider it.

[phecksel]

Which engine does it have in it, GB or LB? Wastegate? Intercooler?

unknown on engine

intercooler, no wastegate

[chrisk]

unknown on engine

intercooler, no wastegate

The wastegate is an easy add on. A LB engine is preferred. If it has had a factory overhaul, then it was likely upgraded.

[Mike A]

The disparity could be between 231's and 252's and/or Rockets.  They all get grouped together under the M20K section.

 

I recently (year+) bought one in the lower end of the lower price range that had sat for a while.  I included the panel (Aspen, 430W, JPI 730) in my acquisition cost, its paint and interior were good.  Even with my initial, pretty well documented struggles with the plane, I am extremely happy that I went ahead with it.  The 231 is an awesome plane.  I would highly recommend that you make sure it has an engine monitor, a good PPI, and know that cylinder overhaul is +/-$1200 a pop.

[jlunseth]

I have a 231, and I would classify it as a traveling airplane.  Although I have quite alot of time doing maneuvering for my commercial certificate and for other reasons, it is at its best doing long distance trips in the flight levels.  For this purpose, upgraded avionics are a must.  I would value an aircraft that has the original "Crown Silver" package and no IFR GPS well down on the value scale.  While glass is cool, it is also possible to put together a very nice panel that works well for cross country flights, without going full glass (such as a Garmin 500/600).  I would want to see:  a KFC 200 AP, IFR GPS, GPSS if the GPS is not so equipped, and panel displayed NEXRAD as minimums.  I would also prefer one with a modern engine management system such as the 930 or MVP-50.  Much better than the factory gauges.  The Merlyn and Turboplus should be "must have's".  The high altitude performance charts are pretty much irrelevant without them, you cannot go over 17-18k in most weather conditions, without exceeding CDT redline, withouth the Merlyn and intercooler, and temp. control will be an issue.  The LB engine also.  Paint and interior are nice, but they have practically nothing to do with the performance and usefulness of the aircraft.  One advantage of the 231 over later models is that it generally has a relatively high useful load.  I would like to see a UL in the 900's, so there is room for at least a couple of people and baggage with full fuel.