Basaviationsales on eBay M20F gear up for sale

[MyNameIsNobody]

eBay has what looks like a nice F for sale.  I have bought some things from basaviationsales in Colorado.  Good folks.  Looks like plane is in Arizona.  $18 on bid with no reserve.  Engine is close to overhaul.  Would need new prop and one piece belly.  With overhaul, if bought right looks like a good starting point...

[Yetti]

Too much $ to make sense

[MyNameIsNobody]

If it goes for under $20k You could have a nice F with new engine/prop/belly for $70k.  That is not bad at all.  Is it?  What do real people in the real world pay for an F these days with a fresh major and new prop?  Interior/equipment and paint look acceptable.

Can you get an F for under $70k with freshly majored engine and new prop for $__________?

Probably why planes only sell when they are run out hanger queens with a dead owner...Not worth what real people in real world are willing to pay for their investment.

Brian's F comes to mind...Beautiful...but it sat.  I would prefer his plane...But the idea of a new major/prop appeals to me.

[mooniac15u]

This one is listed at $70K with a 430 and only 200 hrs on the engine. 

http://www.controller.com/listings/aircraft/for-sale/1433209/1970-mooney-m20f-exec-21

Or this one with a more minimal panel and 100 on the engine for $60K  

http://www.controller.com/listings/aircraft/for-sale/1436655/1967-mooney-m20f

 

 

 

 

[orionflt]

you would also have to update the avionics and keep the end number under 70K, that plane even with an overhauled engine and new prop would sell around 50k.

Brian

[Browncbr1]

imho, a fresh overhaul seems more risky to me than one that has ~400-500 hours already on it.  

 

[Patto]

Keep in mind that there may be more damage than just the belly skin and engine. You may also need new flaps or flap hinges or potentially other items that are more serious. I would want to take a look at the spar. That being said, if money were an issue you could look at getting a used engine and prop 4 less than half the price of new and you would have potentially a very nice airplane for a little less money than most people are paying.

[flyntgr1]

Also, a couple of other things. 

You do not have to do a tear down inspection.  The AD states to replace the gear, or the bolt that holds the gear, that drives the Mag.  That does require remove and replacement of the engine as you have to remove the Rear Accessory bracket.  To do it properly, you should remove and replace the drip pan as well.  You can do it without it, but you can have to cut the gasket and there is a chance of leak.  Keep in mind that the engine still has a prop strike associated with it and that will devalue the aircraft.  Again at 1700 hours, I would just overhaul it.  It also could have a higher overall cost as the shop may find something else wrong, like a bent crankshaft.

This aircraft is not registered to them.  Looks like it is still registered to the owner that landed gear up in Utah.  This looks like an aircraft this company bought off salvage from the insurance company and is turning around and reselling it as a project to make a few bucks without moving the aircraft (and more power to them!!).  Just be careful that the aircraft hasn't been deregistered.  For some reason the insurance companies have been telling people to send in the registration to the FAA after it's totaled.  The FAA then classifies it as destroyed and will not let you re-register it without doing some work.  You have two options that I know of in that situation.  One is to get the owner of recorded to send a letter to the FAA stating that the registration of went in by accident.  The other is to completely rebuild the aircraft and document it to prove to the FAA that it was not destroyed.  Both are very time consuming and you can not get a Ferry Permit until the registration is resolved.  That means you have to disassemble the aircraft and that adds even more cost.

Just some food for thought. 

[Patto]

The FAA registration back log is over two months. I'd at least call them to figure out the registration details. Could be a major issue or non-issue.

[MyNameIsNobody]

  On 8/19/2016 at 3:18 PM, Browncbr1 said:

imho, a fresh overhaul seems more risky to me than one that has ~400-500 hours already on it.  

 

Expand  

I hear you.  I would rather designate the engine shop and have all the time on the engine known to me.  It is to bad that the economics are NOT working on this.  I see that is the case based on others for sale at less or equal price point.  Either you need to buy a gear up F for $10k or it just doesn't make good financial sense....Wowza.

 

Nailed it Yetti.  Thanks for the education everybody.