Help me come up with a price for my Mooney

[FloridaMan]

I haven't yet listed my airplane for sale. (for site staff, I have donated). I'm trying to figure out what to ask for it and I thought it's best to ask what people have paid/sold their Fs and Js for recently before I list it and people start asking prices. I'll post more photos of it as soon as I get a chance. I closed on a 305 Rocket today and now need to sell my beautiful M20F. My mechanic wants me to start at 90k; a broker suggested that it would sell immediately for 70k. 

Mine is a 1967 M20F with the LoPresti cowling. Paint is excellent and looks pristine and mirror flawless from about 10ft away. When you get close to it, you'll see some spots in the leading edges. There are a handful of squawks. The #2 COM just went tits up; there's a tear on the right seat and in the pilot's armrest. While I could fix all of these before bringing it to market, I'm thinking that discounting the airplane by what it would cost might be better for a buyer who wants to do panel/interior upgrades. With the exception of those tears, the interior is nice and isn't outdated, but it's cloth with leather or vinyl seating surfaces. 

The engine was overhauled and installed last summer by Aero Engines of Winchester. I've put less than 150 hours on it since then and it should have over a year left and 50+ hours on the full warranty. The airplane runs great and on cold days will cruise in the yellow arc at 5000ft and 3000ft on normal days. It's a 158kt "true" airplane that has had no trouble getting to 17,000+ft when I've needed it to. 

Other things:

* TTAF just under 6000 hours. 

* Manual gear/hydraulic flaps

* Powerflow Exhaust

* GNS530 (non-WAAS)

* JPI EDM-900 Engine Monitor

* King HSI in a modern 6-pack panel configuration. 

* Polished spinner

* PC Wing Leveler

* Tanks resealed by weep-no-more I think some time about 12 years ago. I'll have to check. 

* Wing mounted fuel gauges

* I'm thinking of including the Aerox O2 bottle as well. 

* Maintained for 20 years by Willmar before I bought it in 2012. Since I've purchased it, I've had an annual performed by Phil at Avon Park and Don Maxwell in 2015. Gear pucks were done in 2015; main tires in 2017. 

[KSMooniac]

Congrats!

 

I haven't been following the market closely lately, so I may be way off.

 

It looks like a great plane and it was what I was shopping for 11 years ago before buying my J (for more money of course). It has a LOT going for it, but IMO the value will always be capped since it isn't a J...that's just the way the market is. Some folks like me would rather have a J bar and hydraulic flaps along with the rest of the J upgrades...just like this plane. Perhaps you'll find such a buyer.

 

Not having an autopilot is a bad thing, but at least there are reasonable options coming soon for the next owner.

 

Which prop is installed? AD status?

 

Given the tank status, cowl upgrade, engine time, EDM-900 and 530 on board, I think it should sell quickly. Especially with so few on the market. I imagine it has a good useful load...you should put that out there.

 

I'm thinking lost it at $85k and see what happens.

 

Sent from my LG-US996 using Tapatalk

 

 

 

 

[ArtVandelay]

What makes your mechanic an expert in market value of aircraft?
I would go with your broker, maybe $75K.
The non WAAS GPS, interior, inop com#2, no ADSB are all negatives, balanced by a fresh engine. Probably looking at $25K to update interior and panel, that’s assuming you can get $5K for the 530.

[jetdriven]

Non-waas  G530 and lack of ADSB compliance is going to be an issue.  That’s really nice looking airplane and it is a fast plane  so it should move.  Congratulations on the Rocket. 

[FloridaMan]

You can still do the WAAS upgrade on the 530 for $4,400. The LoPresti cowling is certainly desirable. To people who don't know Mooneys or airplanes in general, you wouldn't know it to be as old as it is. When I purchased it six years ago, it was out of the price range I was looking for, but I knew it was the plane that I wanted. I'm going to be looking to sell it, not to sit on it for months trying to squeeze a few extra dollars out of it. It appears to be a sellers market right now as the planes that are on the market either have a ton of time on the engines or are priced to the moon. It wasn't that way when I bought back in 2012. I just don't want to let it go for too little right away and may start at some price and lower it by 5k every couple weeks until it sells. 

I intend to not come into ADS-B compliance until near the end of the period. New transponders and avionics keep being introduced. In six years and 1000+ hours of ownership, I never once found myself in a position where I needed WAAS precision for an instrument approach with my personal minimums. 

[LANCECASPER]

Call Jimmy at AAA. He'll tell you what it's worth whether you list it with him or not. He has his finger on the pulse of the market.

[gsxrpilot]

What @LANCECASPER said.

I'm consistently critical of Mooney's without a good autopilot.  You might get by without the ADSB right now... but it's close enough to the date, that it's becoming a factor. Shops are getting booked up and it's gonna be hard to get it done.

If you had WAAS on the 530, an Stec or Century autopilot, and ADSB, it would fetch $90K today. Without them I think you're much closer to $70K.

It's a beautiful plane. But kids these days want an autopilot.

[bradp]

On the flip side; the footprint for the non-WAAS 530 will accept either a WAAS unit or an IFD 540.  The lack of an autopilot would have been a big negative a few years ago, but now we have a couple of great options at reasonable autopilot prices on the horizon.  You have a 900 JPI so that's a plus.  Important bones stuff like engine, tanks and pucks are all no worry issues. 

I think list for slightly south of 80 and be willing to take a slightly lower offer.  Somewhere in there is my gut.  This plane needs a G5/ GFC-500 / and some sort of waas solution (GLD-80/82 would be great) and you've got a top of the line F model.  

Those who know moonies might take a highly modded F over a J for the benefit of the gear simplicity....

[HRM]

@M20FanJesse

[MB65E]

Looks awesome to me. I think there are some old school guys out there that want a clean airplane but don’t want to pay for everything. Yours looks perfect in that regard. Manual gear, cowl, decent looking, awesome maintenance. That’s hard to beat. I’d hold out on 90k for a bit and somebody might night at 80-85k. 

Its already nicer than most  CEF on the market now. Probably nicer than most J’s on market. 

 

-Matt

 

[M20FanJesse]

Yes, this would likely do very well if you listed it up for sale on wingswap.com. I'll even place you at the top of the website in the featured category, and post about your plane for sale on WingSwap social media accounts!