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Market value of a Cessna 172?


corn_flake

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I would have post this question in a Cessna forum, but I like to get some objective opinion.  :)

I came across a 73' Cessna 172 and here is what I know

  • It has been sitting out in the Southwest desert sun for the past 5 years
  • Avionics are all original from 73'. (No GPS, modern audio panel, etc...)
  • Interior appears to be original as well (aka, serviceable, but not pretty)
  • Exterior condition looks dated, but serviceable
  • Airframe hours is 6000
  • Engine hours unknown, but we will assume overhaul is require since it has been idle for extended period of time.  This 172 is equipped with O320 producing 150HP.  

How much would you assess the value this aircraft?  

How much would you assess a similar aircraft if it is with a low-time engine in an airworthy condition? 

 

 

 

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AOPA’s V-ref is showing $59,000.00 for 6000 TT and 1000 SMOH, in annual and has been flying and average (for what that’s worth) condition..... 172’s went way up on value because of availability, Cessna has ALL NEW 172’s sold through 2021and flight schools are buying what’s out there now, even the older 6 cyl conti’s 1968 and older have had a spike in price

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@smwash02  The one your shown in Barnstormers is actually in airworthy condition.  The 172 I mentioned is not.  But it is newer in term of age.  Assuming V-Ref is correct and an airworthy 1973 172 can fetch $59k, here is my math.  

Fair Market Value: $59k

Overhaul O320 Engine: minus $23k

Install overhauled engine: minus $4k

Install ADSB: minus $2k

Install a Garmin 430: minus $6k

Freshen up interior: minus $8k

Final Value of aircraft: $16k

Let me know if any of my estimate is out of line. 

 

 

 

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172s seem to always be expensive due to their utility as trainers.    That seems to be possibly changing, though, so be cautious going forward.    A local school is cycling out a large fleet of C172s and replacing them with Archers, and Piper's Archer and Pilot models seem to be backfilling needs more than Cessnas.   Another local school has been cycling out Archers and cycling in Diamonds.   The Lufthansa school here has been cycling out the Bonanzas that they have been using for decades and replacing them with Cirrus (the horrors!) and some Grob complex aircraft.    I don't know of any schools cycling in new 172s.   It may be happening somewhere, I just don't know of any.   Anyway, the value of C172s as trainers may be set to decline as other aircraft become more popular or plentiful, but who knows how long that'll take.

Meanwhile, C172s are still pretty expensive relative to other airplanes, so a well-bought derelict might be a candidate for rehabilitation without going upside-down on the investment.

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All trainers are selling like mad. That will reflect in an increase in demand of higher performance GA aircraft with the bottom end going away. Why pay $60k for a run out 172 when you can get a decent m20f for that same price? If the trend continues, I suspect vintage Mooneys and Bonanzas to see a price spike. There are weird economics afoot. Combine that with interest rates around 4% on financing, that translates to the same payment for 100k that would’ve been for an 80k loan 8 years ago, and they’re giving those loans to more people — and many people buy based on what the payment will be, not the purchase price. 

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The growth of the world’s middle class is fantastic...

People are flying around the world to see family members that they haven’t seen in years...

 

Boeing has been building as many planes as they can... and they don’t retire airframes until decades go by...

 

The drive to have new pilots is pretty tremendous...

Flight training in basic trainers has been going on for decades... the companies that specialize in this... have a flop house next to the airport, and train foreign nationals...

 

So having a C172, a CFI, and an A&P... is kinda like having your own micro business... it takes a fair amount of scaling to make a real business...

Not much like having a traveling airplane... to travel when you feel like it...

What's the drive to OH an old trainer?

Best regards,

-a-

 

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