What would you pay???

[GDGR]

Just had an interesting conversation with my AME, who also doubles as a part time aircraft broker. 
He mentioned to me that a Dr, who list his medical is selling his late 70s J:

- 350 hours Since overhaul 

- Prop zero timed 2 years ago

- Auto Pilot

- IFR certified (albeit it has so so avionics. GARMIN 396 on the yoke)

- Turbo Normalized 

- paint and interior 8/10

Then he told me what he was asking for it....... I won’t give out the number just yet, but I went into his office to see if the crack pipe was still smoking. 
 

Just wondering if I’m the only one who thinks it’s an atrocious amount? What would you pay?

[MBDiagMan]

Total time?  Paint and interior condition?

[GDGR]

1 minute ago, MBDiagMan said:

Total time?  Paint and interior condition?

Around 2300 TT 

Paint and Interior are still 8/10, like I mentioned in the post.

[Jakes Simmons]

I would add 50k to the price. That covers a glass panel, both tanks reseal, new rubber bumpers all the way around. Whatever figure that amounts to should give you an idea of the relative value. If it is less the 120-130k with that 50, I would think you have a winner.

[Greg Ellis]

A quick glance at controller.com has some late 70's J models with average avionics and one with a low time engine like the one you describe going for upper 60's to low to mid 70's so I would go somewhere in that range.  Its going to take a pretty good investment to get at least a WAAS GPS if it doesn't have one as well as ADS-B out if it does not have that either.  I am not sure I would jump to putting in a glass panel as has been mentioned.  If I want a glass panel I would just buy an airplane with one.

 

[MBDiagMan]

11 hours ago, GLJA said:

Around 2300 TT 

Paint and Interior are still 8/10, like I mentioned in the post.

Sorry!  I missed your interior and paint description.  I have a bad habit of perusing posts too quickly.

That low total time is a good thing.  Do you know if there is a gear up in its history?

If the history is clean, and it is corrosion free and so forth, the only negative is the panel if you will be flying IFR.   If it doesn’t have an autopilot that can be coupled, maybe it is worth less.  I would guess it to be maybe an $80K to $90K plane.  I have been out of the market for two years, so it might be worth more.

My $0.02,

[ArtVandelay]

If I want a glass panel I would just buy an airplane with one.

 

Good luck finding one.

 

My guess is $120,000.

[Greg Ellis]

Just now, ArtVandelay said:

Good luck finding one.

Thus the smiley face.  I guess the emoji's don't have the effect intended.

 

[ArtVandelay]

Thus the smiley face.  I guess the emoji's don't have the effect intended.
 

I think wanted the just kidding , not the happy smiley emoji (s).

But I could be confused .

[GDGR]

For the sake of discussion.....

He’s asking for $120 US for it (I’m in Canada).

i get the Turbo Normalized engine is worth something, but IMO, I don’t think he will get anywhere near that amount. 
 

Maybe I am a die hard Mooney CB, but personally I don’t see the value. 

[ArtVandelay]

For the sake of discussion.....
He’s asking for $120 US for it (I’m in Canada).
i get the Turbo Normalized engine is worth something, but IMO, I don’t think he will get anywhere near that amount. 
 
Maybe I am a die hard Mooney CB, but personally I don’t see the value. 

I nailed it , I assume I win a new Ultra .

I find interior/exterior rates are usually exaggerated but on face value in today’s market, and Js are always going be bring a premium.
I bet a beverage he gets $110 or better for it if description is accurate.
Across the board, it’s a seller’s market, especially turn key nicer planes , only beaters (and maybe twins) are not selling. On every board people are complaining.

[gsxrpilot]

1 hour ago, GLJA said:

i get the Turbo Normalized engine is worth something, but IMO, I don’t think he will get anywhere near that amount. 

l'd disagree. I think the turbo on a J reduces the value. Not much, but it changes the market. Not everyone want's a turbo. In fact, most buyers in this range, don't. And those that do want/need a turbo, most are shopping for K's. The marked for K's is smaller than the market for J's. And the market for turbo J's is even smaller.

IMHO other things that really affect the value are...

• number of hours flown in the last year or two
• which autopilot does it have
• finally the full panel, specific components make a difference in value. 

[GDGR]

48 minutes ago, gsxrpilot said:

l'd disagree. I think the turbo on a J reduces the value. Not much, but it changes the market. Not everyone want's a turbo. In fact, most buyers in this range, don't. And those that do want/need a turbo, most are shopping for K's. The marked for K's is smaller than the market for J's. And the market for turbo J's is even smaller.

IMHO other things that really affect the value are...

• number of hours flown in the last year or two
• which autopilot does it have
• finally the full panel, specific components make a difference in value. 

I’ve literally been in the plane once. Dr lost his medical a while back and needs someone to fly “with him”. I went with one time to ferry the plane back to his hangar. This is the only Photo I have of the panel.... sorry it’s upside down. 

[hammdo]

Nice inverted roll! ;op

I know the feeling about the medical. If he wants to fly, maybe a CFI can keep him flying until the plane is sold - if he wants to keep flying that is...

-Don

[N201MKTurbo]

I hope he gets it. My plane is like his with better avionics and a 0 SMOH engine. So mine should be worth $170K, right?

[GDGR]

46 minutes ago, hammdo said:

Nice inverted roll! ;op

I know the feeling about the medical. If he wants to fly, maybe a CFI can keep him flying until the plane is sold - if he wants to keep flying that is...

-Don

There's enough local Mooney pilots who are happy to take PIC in the right seat, and allow him to fly HIS plane. We're a good group this way. Guess he's just decided it's time to call it quits. 

[dzeleski]

Personally wouldnt spend anywhere near that for a panel that was that outdated. Although that airplane legally is IFR certified, theres no chance in hell im using it for real IFR flights. That panel needs to be yanked and totally replaced with modern stuff.

I got my J for 23k less then hes asking and it had an stec 30, g430 non waas, gma340, gtx 327+gdl82 (ADSB out), EDM-700, EI FP-5L, standby vac, all the speed mods, modern wing tips, storm scope.

 

[GDGR]

Just now, dzeleski said:

Personally wouldnt spend anywhere near that for a panel that was that outdated. Although that airplane legally is IFR certified, theres no chance in hell im using it for real IFR flights. That panel needs to be yanked and totally replaced with modern stuff.

I got my J for 23k less then hes asking and it had an stec 30, g430 non waas, gma340, gtx 327+gdl82 (ADSB out), EDM-700, EI FP-5L, standby vac, all the speed mods, modern wing tips, storm scope.

 

I'm with you on this one, 100%. I"m not looking to upgrade my F currently, but this plane was on my radar, if the timing was right. But, timing will never be an issue unless the price is substantially lower. 

[ArtVandelay]

Personally wouldnt spend anywhere near that for a panel that was that outdated. Although that airplane legally is IFR certified, theres no chance in hell im using it for real IFR flights. That panel needs to be yanked and totally replaced with modern stuff.
I got my J for 23k less then hes asking and it had an stec 30, g430 non waas, gma340, gtx 327+gdl82 (ADSB out), EDM-700, EI FP-5L, standby vac, all the speed mods, modern wing tips, storm scope.
 

I guess it depends on how much you value the turbo.

I paid 30k less than you for my J with same equipment minus the ADSB, but that was back when prices were low, today it’s different market for whatever reason.

[dzeleski]

5 hours ago, ArtVandelay said:

I guess it depends on how much you value the turbo.

I paid 30k less than you for my J with same equipment minus the ADSB, but that was back when prices were low, today it’s different market for whatever reason.

I probably should have added the paint is in good shape and I have 250 hours on the engine, brand new tires, brand new rubber disks, new windshield, and a re done interior. I bought back in dec 2019. I think as said already, most people (me included) that are shopping for a J dont want the turbo. This was my first airplane and I wanted as few cylinders to replace and as few things that can break in general.

Personally that panel ruins the airplane for me, its just too old and I wouldnt be able to trust it.

[MIm20c]

Probably best to let the market decide what the plane is worth.  I’ve noticed a lot of planes, turbo or not, can sit on the market for a long time. If the seller wants to move it out he can lower the price, upgrade the plane, or wait for the market to capture the asking price.

[drapo]

I would think 80k to 90k, US that is, would be a fair deal for both on this airplane. Lots of money to be spent on the panel to get it up to today standards, but if the price is right and all other things are ok, I'd offer that amount.

Just to compare, this 231 is for sale, outside Montréal, old radios but new paint and low times on engine and prop at $138KCA(around $100KUS), Ads in French but still readable! : https://www.lespac.com/terrebonne/vehicules-aeriens/mooney-m20k-1979_116620019D0.jsa?searchCriteria=L3NlYXJjaC9yZXN1bHRzLmpzYT9sPTEmYT1tb29uZXkmaT0xJmRoPTAmaz0xJmU9NDYuODE2NjcmZj0tNzEuMjMzMzMmaD0xJmc9MTUzOTgmZ2Y9Mjk3Jmo9MQ&navigationInfo=YT0wJmI9MiZjPTEyMTYwMTAyOFMxMTY2MjAwMTkmZD0w&requester=SCH

Could be worth a look or just to help compare!

[Yourpilotincommand]

Hmmm, a Dr who lost his medical??.. hard to believe. Sounds fishy :-) likely divorce lol

[carusoam]

Would you pay one year’s salary for this? Or 1.2X

Hmmmm... that would be an interesting way to discuss what a person thinks a plane is worth... 

Best regards,

-a-

 

[GDGR]

1 minute ago, Yourpilotincommand said:

Hmmm, a Dr who lost his medical??.. hard to believe. Sounds fishy :-)

okay. He’s not a real Dr. He’s a dentist.