How much value is in my missing First logbook?

[gsxrpilot]

Neither of my Mooneys had complete logs... didn't worry me at all.

[chriscalandro]

I don’t think it’s a 70k airplane unless it gets sold to the insurance company, but the first log book should hopefully not show anything major, and if it did there should be a 337 available from the FAA. 

 

Someone will I’ll probably try to argue it for a discount, but anyone that really wants it and isn’t just some jerk trying to get a good deal probably won’t make a big issue out of it. 

 

Id say you are in the ballpark of low to mid 60s if everything is perfect. For that kind of money I’d expect the qualified buyers shouldn’t care. 

Edited August 29, 2019 by chriscalandro

[NJMac]

1 hour ago, chriscalandro said:

I don’t think it’s a 70k airplane unless it gets sold to the insurance company, but the first log book should hopefully not show anything major, and if it did there should be a 337 available from the FAA. 

 

Someone will I’ll probably try to argue it for a discount, but anyone that really wants it and isn’t just some jerk trying to get a good deal probably won’t make a big issue out of it. 

 

Id say you are in the ballpark of low to mid 60s if everything is perfect. For that kind of money I’d expect the qualified buyers shouldn’t care. 

Appreciate your input.  I wasn’t seeking what the plane’s value is currently.  I was more curious the groups take on that 1 missing log book is.  

Lord willing my next one will be a kero burning 6 seat Mooney and a few thousand on the sale won’t be very noticeable.  

Thanks yalls for engaging the thought experiment. 

[chriscalandro]

My response wasn't about the value, it was about the potential buyers you will receive based on the value.  A 20k airplane will attract a buyer looking to get something cheap.  That log book will be an issue when the 20K person has only the knowledge of what others have suggested.

 

A 60k buyer is a different person entirely. That person isn't just looking for the cheapest option and in my opinion is less likely to have BS come up when dealing. 

The value of the item will often determine the value of the buyer.  It works the same way in real estate, cars, and guitars to name a few.

Edited August 29, 2019 by chriscalandro

[NJMac]

1 hour ago, chriscalandro said:

My response wasn't about the value, it was about the potential buyers you will receive based on the value.  A 20k airplane will attract a buyer looking to get something cheap.  That log book will be an issue when the 20K person has only the knowledge of what others have suggested.

 

A 60k buyer is a different person entirely. That person isn't just looking for the cheapest option and in my opinion is less likely to have BS come up when dealing. 

The value of the item will often determine the value of the buyer.  It works the same way in real estate, cars, and guitars to name a few.

Good points 

[rbridges]

3 hours ago, steingar said:

I'm missing some very early logbooks and am not overly concerned about tit.

They make a pill for that. 

[flyer338]

I am in the process of buying my 2nd Mooney. The bank that is doing the financing has been very clear that complete logs are essential to their decision about how much they will loan. The 1983 201 I plan to buy has complete logs. I do not know how the scenario presented would affect the loan decision. 

My point is, unless the buyer is paying cash, the lender and the insurer’s opinions as to value are important.  

[M20F-1968]

It would seem that verification of AD compliance and any major airframe work due to damage hx are the two big ones.  I am thinking of things like, was the AD on the IO-360 oil pump done.  Without documentation from an engine rebuilder, you need to take the engine apart and look for yourself.

John Breda