What did you pay and what did you sell it for?

[Marauder]

3 hours ago, Danb said:

These numbers are approximate based on an old memory 

1985 bought a 1977 Cherokee to learn to fly $14,500 ..sold 1986 $17,500

1986 bought 1977 J $40,000 sold 1988 $50,000

1988 bought new 1988 J $110,000 sold 2006 $150,000

2006 bought 6 month old 2005 BravoGX $465,000 still have market went in toilet early 2000’s most likely deprecated 50%

how times have changed. Yearly costs 20-40,000 based on r/m and upgrades

 

What I loved about your post was that subtle little line at the end. Yearly costs... that's where the real investment is.

[ChrisV]

Thanks maurader.  Your's is a bit too shiny for me and my wife would be mad if I spent that much on me and not her.  Am I the only person on here who likes a standard 6 pack?  Don't get me wrong, I would take that panel in a heartbeat, but I like old school navigation and dead reckoning.  

I have not filled out your financial chart, but I would be comfortable even on the high side.  A low time/unexpected overhaul or expensive annual doesn't scare me, since I have been researching on here for the last 6 months.  Things happen.  I was in a king air (not flying it) that bird strike at 9K AGL... I didn't know birds could fly that high, at the time.

[AH-1 Cobra Pilot]

1 hour ago, Marauder said:

 

Why haven't you replaced those ugly-assed switch covers, yet?

[DualRatedFlyer]

7 minutes ago, Ah-1 Cobra Pilot said:

Why haven't you replaced those ugly-assed switch covers, yet?

I agree, would never pay $650K with those switch covers in that condition. 

[skydvrboy]

20 hours ago, smccray said:

2 rules - I should call them theorems as I can’t prove them, but i’ll argue them with anyone. 

1) pilots are cheap bastards- and we’re all a little crazy. We buy (some) tools harbor freight to work on $6 figure flying machines. We bitch and moan about how expensive maintenance is, never mind that the hourly rate is substantially cheaper than we pay for car maintenance.

2) in pilots minds real world economics and aviation economics have completely different standards. We question pricing of products all over, then spend thousands on upgrades to planes.

I can't tell you how many times I've flown to an airport restaurant and went with the burger because the steak was too expensive! 

Edited October 15, 2018 by skydvrboy

[Robert Sailor]

Owning an aircraft and the word investment do not belong in the same sentence. There are certain things in life that make zero economic sense. Booze, women ,boats, world travel , nice restaurants...you get the drift. There are times, if you can afford it that you do stuff just for fun and personal enjoyment and that's a very good thing. Simple things like raising a family which is seriously expensive we do because we get this thing called "payback"...It makes us feel good.

Flying, if you have a passion for it gives you lots of payback and not just in doing it but also the other fliers we hang out with and even the comradery we feel on a site like this. Decide how much money you can do without and make the plunge, you won't regret it.  Cheers 

[Comet]

I bought mine for ~37AMUs.  

I’ve had it for ~5.5 years (I wanted to make sure I’d really use it before any major upgrades).

getting ready for a 32 AMU upgrade to avionics in January

maybe paint too...

at this point, couldn’t imagine not owning a Mooney!  It it worth every penny!

[carusoam]

I invested a lot... to fly a plane...

A lot of time...

A lot of effort...

A lot of dough...

 

I would say investment and airplanes go together perfectly...

These investments allowed the grandchildren to really know their grandparents, that lived 200nm miles away...

Some investments really pay off...

 

If you know something about investing... That is what you do with excess dough... the returns on your investments are what you spend on getting a plane...

Some machines are actually investments... they are a business enabler, they produce products that can be sold...

 

Dan has given a nice reminder that inflation has a sneaky way of making our planes appear to go up in value...

 

The finance guys around here will toss in the phrase Opportunity cost... the cost of spending your dough on a plane instead of buying stocks, bonds, real estate, or precious metals...

So dan’s planes have nicely increased in value... but at what cost... he could have taken that dough and used Forrest Gump’s advice and bought into a fruit company called Apple....

So life isn’t about a box of chocolates... it is about traveling to see the things you want to see... the people that are important in your life, the business opportunity that comes by getting in your plane, Taking the kids to the beach 100 miles away...

My first sale allowed by aviation used a rented C152... my best sale was done using an M20C... My O was used in the act of buying machinery...

Looking back... Aviation has been a great investment!

The cost of not having a plane can be huge!

If Dan didn’t have his Bravo, I would have never met him... Now I have a good goto guy to ask tax questions to regarding selling investments...  

MS has a few finance experts...

How is that logic?

PP thoughts only, not a finance guy...

Best regards,

-a-

 

[Hank]

On ‎10‎/‎15‎/‎2018 at 10:03 AM, Marauder said:

I am not a CPA, but can tell you that my F is running $23k to $28k to operate. I have owned my plane for 28 years. So do the math, averaging 28 years at $25k is $700k. You want to buy my F for a killer deal? I'll sell it to you for $650k!! Look at what you get. It's so SHINY!

 

That's a bit overpriced seeing as how your panel is half empty . . . . .    

And @dspeterson, some of us still enjoy having a real panel that is full, full, full! Remind me again where that ADS-B stuff is supposed to go . . . 

Edited October 16, 2018 by Hank

[Mark89114]

I sold my Cessna 152 which I had for 20+ years for $27,500....I paid $21,000 for it.  So I am "making" money in aviation...…

Now I own an Ovation with fancy avionics, dual just about everything (except for doors.....) and my costs have increased, don't know how much more as I just spend what it takes to keep it safe and move on with life.  

 

[Marauder]

That's a bit overpriced seeing as how your panel is half empty . . . . .    
And@dspeterson, some of us still enjoy having a real panel that is full, full, full! Remind me again where that ADS-B stuff is supposed to go . . . 

Hey! You fixed your bullet holes!


Sent from my iPhone using Tapatalk Pro

[Hank]

1 hour ago, Marauder said:

Hey! You fixed your bullet holes!
 

 

      Old picture . . . . But the repair is coming . . . .

[Oldguy]

Bought my '84 J in 2013 for $91,000 and have had annuals in the $2,000-$2,750 range since. Dropped a bunch of funds in the panel this spring, overhauled the mag a couple years ago, and spend whatever is needed to keep it airworthy, safe, and enjoyable. Currently working on refreshing the interior and plan to have a paint job in the next few years. I could probably look up all the numbers and add them up, but I am fortunate enough not to have to watch every penny since the kids are gone (for a while now) and the retirement is fully funded. Most of the other hobbies have been abandoned or are being done in conjunction with flying the plane.

When the plane is sold, I will not care about the price because I will either be dead or no longer capable of competently flying it. Either way, won't matter to me.

[CoffeeCan]

On 10/15/2018 at 11:24 PM, carusoam said:

 

Some machines are actually investments... they are a business enabler, they produce products that can be sold...

 

This is very true. 

My wife and I have used our airplanes for business travel (we are both self-employed) and there is no question that this makes the costs of owning and operating an airplane a LOT easier to swallow. But that doesn't mean the airplanes have been an investment. 

I have suggested to several people that they might consider starting a side business in a field that they enjoy, as a means to helping defray the costs of aviation. It won't work for everyone, but if it works for you the benefits can be very meaningful.