Why Is this E so cheap?

[Fighterpilot1232]

So, Earlier I was browsing Trade-a-plane. I came across this 1971 Aerostar E model. I'm looking over the ad and it is advertised as having "New Glass", "Leather" and a "Fresh annual". With a fresh beautiful paint job done in 2015!  But, what I cannot get over with this bird is the extreme low price of it listed at $37,000. There has to be something wrong with it at that price. Corrosion on the spar maybe, can anyone elaborate?

The engine is low time as well, 450 SMOH.

4200 TTAF  

 

Link: https://www.trade-a-plane.com/search?category_level1=Single Engine Piston&make=MOONEY&model=M20E&listing_id=2275515&s-type=aircraft

[Raptor05121]

I think they found some bad juju when that had that interior redone this year.

[carusoam]

It seems to have the butler buttonhook tail and stinger still in place...

There is nothing wrong with the model.

But the description and pictures are really missing...

maybe the pictures are only available in daylight hours...  

Best regards,

-a-

[Fighterpilot1232]

Just now, carusoam said:

It seems to have the butler buttonhook tail and stinger still in place...

There is nothing wrong with the model.

But the description and pictures are really missing...

maybe the pictures are only available in daylight hours...  

Best regards,

-a-

Yeah, with the lack of details it leaves me to wonder why it has so many ups and not so many downs for the price?

 

[Hank]

I'd guess the panel is close to original, and needs serious updaring--DME, ADF, etc. There's no mention of GPS either, and that makes them hard to sell now. 

[Danb]

That's what I'm thinking close to original panel

[Bob_Belville]

Same owner for at least 11 years, I might guess it hasn't been flown, perhaps the owner of record,  Eugene A. Brown, has died or lost his physical. It would be worth a call for more details. It lists an autopilot, if the engine is okay and there's no spar corrosion that would be a fair price even if the panel is original.  

Pretty plane:

http://flightaware.com/photos/view/168017-8409bc6127944c012a28fc2e71f057a9e4c42df5

http://flightaware.com/photos/view/168017-894dd6dc646d5b692bebed07b9368f9300d0d46d

[gsxrpilot]

It's a classic case of a quick paint and carpet job to get it sold. I don't know, but I'd bet the plane has been sitting or neglected for some time. They've now decided to sell and are making it look nice to sell quick. The panel is most certainly all original and no autopilot, just a wing leveler.

[Bob_Belville]

8 minutes ago, gsxrpilot said:

It's a classic case of a quick paint and carpet job to get it sold. I don't know, but I'd bet the plane has been sitting or neglected for some time. They've now decided to sell and are making it look nice to sell quick. The panel is most certainly all original and no autopilot, just a wing leveler.

The ad claims a 2 axis autopilot, in my lexicon that's not a wing leveler but... The pics I added from flightAware claim to be from 5 years ago while the ad says 2015 for the paint.

It's worth a call. The TaP ad is inadequate.

[Browncbr1]

beware of the Sherwin Williams overhaul.

[Fighterpilot1232]

2 hours ago, Browncbr1 said:

beware of the Sherwin Williams overhaul.

That's a first, never heard that one 

[Guitarmaster]

Or it could be the deal of the century. Go look at it and see what you think.

Sent from my XT1585 using Tapatalk

[StinkBug]

On 8/7/2017 at 5:44 AM, Bob_Belville said:

The ad claims a 2 axis autopilot, in my lexicon that's not a wing leveler but... The pics I added from flightAware claim to be from 5 years ago while the ad says 2015 for the paint.

It's worth a call. The TaP ad is inadequate.

My bet would be on the Brittain AP unit that ties into the wing leveler. I have it in my plane, and it does a good job of following a course when on a long flight, but that's about it. 

[Mooneymite]

Dawsonville is close to Joey Cole.  http://www.coleaviation.com

Might be worth a call to Joey to see what/if he knows about the plane.

[steingar]

Saw an E go for about the in my one-horse town.  Nice one too, with an IFR GPS (albeit an old  one).  Still had the curtains.

[HRM]

On 8/7/2017 at 4:33 PM, Guitarmaster said:

Or it could be the deal of the century. Go look at it and see what you think.

My thought exactly.

[dgrami]

I called the seller and he said the plane was sold this past weekend.

[Mooneymite]

I hope you gave him your number.  As you know, deals fall through.  

[steingar]

Could be the seller just wanted it gone.  I probably took a good-sized hit trading my Cherokee for my Mooney.  But I was happy to take it, didn't need two airplanes sitting around for months.

[dgrami]

I actually called the seller about 3 weeks ago.  He really did not know much about the airplane as his son did all the flying, could not tell me anything about the avionics, just said it flew straight and level and had no corrosion or hail damage.  He did say the autopilot, which I guessed might have been a Brittain Accutrak or something similar, worked sometimes, but would need to be overhauled.  After about 20 minutes on the phone all I came away with was this plane was based at Bill Elliot's (NASCAR driver) private field in his hangar, had a gear up on a grass field about 20 years ago, damage was minimal and repairs were done by a local mechanic.  I asked a lot of questions regarding the history of the plane for which he did not have answers.  Finally I asked for some close up pictures of the panel and a couple of logbook pictures of the last annual and he said it would take him some time to get that.  In closing he said come on over, look at the plane, and if I didn't like it I could go back home.  He was polite, but certainly did not want to put any work or time into selling the plane.  The first $37K took it.  And I found this interesting, I searched the FAA database and found the plane was registered not to him, but to another individual in south central GA.  I also thought this might be a diamond in the rough, but after that phone call I thought it better to look at other aircraft.

[gsxrpilot]

Chances are someone paid $37K for a really nice $25K airplane. There are no barn finds in this business. #keepingalist