Estimated value of '68 M20F

[cirrostratus]

How would you value this with needing a major overhaul, rundown interior, original radios, no adsb and wing tanks needing reseal. Prop is good and paint is good. What’s a fair market value? TYIA

 

 

Sent from my iPad using Tapatalk

[Niko182]

34 minutes ago, cirrostratus said:

 

How would you value this with needing a major overhaul, rundown interior, original radios, no adsb and wing tanks needing reseal. Prop is good and paint is good. What’s a fair market value? TYIA

 

 

Sent from my iPad using Tapatalk

 

30k ish on a good day. More like 25 realistically. By the time you finish youll probably be spending around 50k to 60k after the 25k you already spent. But you will have a plane that has a solid foundation and is fresh. Another thought is that by the end you could probably buy a decent J for the price youll be spending bringing back the F.

[KSMooniac]

Maybe 20k if it has no corrosion, 25k tops if it is airworthy and can be flown away.

Sent from my LG-US996 using Tapatalk

[Marauder]

As a current F model owner, $1M dollars.


Sent from my iPad using Tapatalk Pro

[ArtVandelay]

Overhaul, interior, wing reseal, avionics...if you bought it for $20K, you’ll be all in for ~$100K.


Tom

[Niko182]

2 minutes ago, ArtVandelay said:

Overhaul, interior, wing reseal, avionics...if you bought it for $20K, you’ll be all in for ~$100K.


Tom

But youll have a very nice M20F.

Plane give or take 20k.

Engine Overhaul - 35k

Wings - 8k

Avionincs - 30k (dual G5's, GNX375, PMA8000, GNC255, GTR225)

Interior - 7k

Squaks - 10k

 All in - 110K

That would be a very nice F model though. If its your forever plane then Id say go from the ground up and build it exactly how you want. In the end it will be a wonderful airplane.

[TTaylor]

I am going to be pessimistic and say $5 - 10K. It is right on the edge of meeting the reaper.  The all in $110K price from above puts you over the "J Threshold" and it is never going to be a "J" unless you want to spend a lot more.  I think the $30K for Avionics is optimistic by $10 to $20K, $40 to $50K is more likely today.

[Niko182]

15 minutes ago, TTaylor said:

I think the $30K for Avionics is optimistic by $10 to $20K, $40 to $50K is more likely today.

I dont think so. I got quoted 38k for gtn750, pma450b, gtx345, and dual g5's plus removing the vacuum system. So i think 30 for avionics thats are considerbly cheaper is possible.

[MIm20c]

$5k?...tough crowd. You say it needs a major, why?  Half the damn fleet has outdated radios and an older interior. Tanks might just need a patch not a total reseal. Post up a picture or some more info so we can give more accurate responses. 

[tigers2007]

How would you value this with needing a major overhaul, rundown interior, original radios, no adsb and wing tanks needing reseal. Prop is good and paint is good. What’s a fair market value? TYIA
 
 
Sent from my iPad using Tapatalk

You basically just described my ‘64 when I bought it except it has a good interior, bladders, and a GNC300XL and functioning Century 2b all for $18k.

What do you know that makes you think it needs an overhaul? A lot of us are flying ours past TBO. Has it sat for a while? Bad cam?


Sent from my iPhone using Tapatalk

[cirrostratus]

My understanding is that the engine has been run for a total of 6 hours in the last 4 years..


Sent from my iPad using Tapatalk

[TTaylor]

Work backwards from this M20J with a +$20k to 30k advantage for being  a "J".

Then you see that a run out engine, leaking tanks and minimal avionics leaves little value in the plane. 

https://www.barnstormers.com/ad_detail.php?id=1512146

 

[Ragsf15e]

Time may be something else to consider.  Let’s say you need to put $50-$80,000 to make it solid - tanks, engine, avionics, etc. well that’s at least 6 months of work, scheduling, moving the airplane around, etc.  is it even flyable?  If you go down this path you really gotta want to make it your forever plane.

If you want to fly now, you can find a flying Mooney with older engine, non-leaking tanks and old avionics, paint, interior for $40k while saving time and money.

[oldguyscanfly]

3 hours ago, Niko182 said:

I dont think so. I got quoted 38k for gtn750, pma450b, gtx345, and dual g5's plus removing the vacuum system. So i think 30 for avionics thats are considerbly cheaper is possible.

Just spent approximately  $25K for a new metal pilots side panel, dual G5's and a GNX 375. Had to add a new ELT, glide slope receiver for the existing KX 125, and airspeed indicator, and I'm getting close to $30K.

[skydvrboy]

8 hours ago, cirrostratus said:

How would you value this with needing a major overhaul, rundown interior, original radios, no adsb and wing tanks needing reseal. Prop is good and paint is good. What’s a fair market value? TYIA

I think @KSMooniac is pretty close, maybe even a bit generous.  I'd say $15 to $20 based on what I paid for mine, which sounds like it was in a fair bit better condition.

You can ignore everyone who says it will take $100k to bring it back though.  What do you really need?  If the tanks are leaking, you're stuck with that one.  You didn't say how many hours on the engine, only 6 hours in the last 4 years.  That doesn't necessarily mean anything, just a big unknown.  It could be fine for another 10+ years and 1000+ hours, or it could crap out on you in a year.  As for everything else, it will fly just fine with old radios, steam gauges and a ratty interior.  Those costs can be spread out over years as components fail... upgrade.

The real question is... how do you feel about gambling?!

[carusoam]

Go see the guy who has Mooney valuation as his long term project...

Run the numbers that way...

If you are selling... add 5%

If you are buying... subtract 5%

If you are trying to determine replacement cost for insurance purposes... use the number that Jimmy’s calculator generates...

Best regards,

-a-

[bgpilot1]

My 67F was in great shape and was valued at around $85k. Sold for 10% less but priced below value.  

- $28,000 for the engine and accessories - good field overhaul with new cylinders, sky-tek starter and plane power alternator (my overhaul was more but there are reputable shops that can do the job for this amount.)

- $5,000 for basic interior (carpets from airtex, sheep skin seat covers, repaint old plastics)

- $10,000 for Garmin 430W installed, keep old radio for #2

- $3,000 for tail beacon ADSB

- $8,000 for total tank reseal

- $2,000 for 11 new gear donuts

Value = $29,000.  If there is no corrosion, the plane is rigged properly and doesn't need a new nose gear, I think someone would give you around this amount after they take out a loan to cover all the upgrades.  Then, they have a plane they can call their own.  

So basically, the first response was probably accurate.  :) 

[corn_flake]

My research suggest a well late 60's Mooney with 

• Somewhat updated avionics (Garmin 430 GPS, 340 Audio Penal, and without ADSB)
• Mid time engine
• Decent Interior and exterior
• Tank sealed within the past 10 years
• No major sqawk

Fetch about $60k to $72k.  

So, I would value the Mooney mentioned in OP's post to be about between $2k to $12k.  If the exterior is also in bad shape and the aircraft is not airworthy, it would probably fetch more if sold for parts.   

[GDGR]

On 11/13/2019 at 12:39 PM, Marauder said:

As a current F model owner, $1M dollars.


Sent from my iPad using Tapatalk Pro

I’ll sell my F to anyone for 950k. I’ll even take that in Canadian

[DXB]

If I had to do it again, this is exactly the plane I'd buy - a bare bones '68 F as a forever plane.  Unfortunately I've already made my C into a forever plane.  20-30k sounds very reasonable for this plane, assuming no corrosion or other serious airframe issues. The '68F was the last year of the J bar and lacks the wierd twisted wing of the '67F. I wouldn't hesitate to throw 120K into it and make it into the personalized forever plane I want - basically an older  J model with modern avionics and a  Johnson bar. That's cooler in my book than a comparably nice older J, for a similar total investment.  Folks who say an old F with no major airframe issues should go to the scrap heap are out of their minds! Have you compared what it takes to modernize and personalize a plane like this vs. buy a new one with similar performance features?

 

Edited November 17, 2019 by DXB

[Immelman]

 Who says you have to completely reseal the tanks?

Patch. Cheap. Done, for a while. Patch again when it needs it.

I suppose if they're trashed inside that's one thing, and a reseal may be warranted... but I would not go out assuming that from the start.

Edited November 18, 2019 by Immelman

[Stephen]

On 11/13/2019 at 12:04 PM, cirrostratus said:

 

How would you value this with needing a major overhaul, rundown interior, original radios, no adsb and wing tanks needing reseal. Prop is good and paint is good. What’s a fair market value? TYIA

 

 

Sent from my iPad using Tapatalk

 

@cirrostratusYou may want to see my F in the for sale area if you want to just have a ready to go F. It does have electric gear though, so if you are looking for J-Bar it wouldn't qualify. 

[carusoam]

Might make a good comparison... so brought the link in.

Best regards,

-a-

[MikeOH]

Can't resist throwing in my less than two cents:

If you have never owned, DO NOT buy a project plane.  You are going to be busy enough climbing the first-time-owner learning curve...you are NOT going to save that much money, and the delay and aggro factor is just not worth it...IMHO, naturally

As a first time owner, I am SOOO glad I resisted the temptation to buy a 'cheap' plane.

[carusoam]

Think twice before buying a project plane...   

They can be brought up to new specs...

It will cost pretty much what a new plane costs... well, not exactly... but a big chunk of change...

Best regards,

-a-