Bob - S50 Posted October 1, 2020 Report Share Posted October 1, 2020 Probably shouldn't do this but, one of our partners wants to buy us out of the plane. I know what we have invested in it, but I'm wondering what you would pay. '78J 1002 lb. UL with 6 quarts of oil in it. Determined by weighing the plane. 2279 TT, 1864 SNEW (original engine threw a rod), 558 STOH, A3B6D engine GFC500 - 4 servo to include trim and yaw damper Dual G5's GTN650 GTX345 ADS-B OUT/IN JPI EDM730 graphic engine monitor Aerospace Logic FL202 digital fuel gauge connected to 4 Cies floats Apollo SL15CD audio panel (slide in replaceable with the PMA7000BT - but one pin will need to be connected to ground to use with your phone) #2Comm Trig TY96A #2 Nav KNS80 - VOR/LOC/GS/DME plus a spare KNS80 and a third KNS80 with a bad display for parts New Turn Coordinator 82 hours ago SB282 No back clutch spring complied with 37 hours ago. LED landing light and wingtip lights Vertical card compass 406 ELT SkyTec starter Exterior a 7, interior a 4 (needs new upholstery) No major damage - a little hangar rash Quote Link to comment Share on other sites More sharing options...
Jeff_S Posted October 1, 2020 Report Share Posted October 1, 2020 Pretty difficult to say without seeing pictures. The panel has a few components in it that you could build around, but from the description it sounds like a jumble of old and new. Discerning buyers who are used to seeing more flat panel displays - including aftermarket rebuilds - would want to do that here as well. Engine has some history with a TOH, so I'd want to understand that better. I can tell you that I sold my 1990 J in 2010, which had a somewhat modern panel GNS 480, MF-20, JPI, etc.) and the interior was new leather. Hours were about the same including a TOH. I got around $135K for that as I recall, but the market was down at that time. Still, due to age of airframe and what sounds like a fair amount of interior work needed on this to spruce it up, I'm guessing you'd be lucky to get something in the $90's. But I say this without doing any comparison on TAP or Controller. Good luck! Quote Link to comment Share on other sites More sharing options...
ArtVandelay Posted October 1, 2020 Report Share Posted October 1, 2020 2279 hours for a 78J! Has it been sitting idle?Tom Quote Link to comment Share on other sites More sharing options...
gsxrpilot Posted October 1, 2020 Report Share Posted October 1, 2020 1 hour ago, Bob - S50 said: GFC500 - 4 servo to include trim and yaw damper Dual G5's GTN650 GTX345 ADS-B OUT/IN I think it would be worth something north of $100K. Even with a runout engine, and needing paint and interior... The panel upgrades include all the right stuff. Quote Link to comment Share on other sites More sharing options...
EricJ Posted October 1, 2020 Report Share Posted October 1, 2020 Given that there are some avionics things that could be better (engine monitor, audio panel, etc., etc.), the engine is arguably not low time, and the stated condition of paint and interior I'd think 90s might be attainable. We're all just guessing based on your brief description, but that'd be my guess. Might be lower depending on how bad the interior and paint and overall condition is. Quote Link to comment Share on other sites More sharing options...
Bob - S50 Posted October 1, 2020 Author Report Share Posted October 1, 2020 1 hour ago, Jeff_S said: Pretty difficult to say without seeing pictures. The panel has a few components in it that you could build around, but from the description it sounds like a jumble of old and new. Discerning buyers who are used to seeing more flat panel displays - including aftermarket rebuilds - would want to do that here as well. Engine has some history with a TOH, so I'd want to understand that better. I can tell you that I sold my 1990 J in 2010, which had a somewhat modern panel GNS 480, MF-20, JPI, etc.) and the interior was new leather. Hours were about the same including a TOH. I got around $135K for that as I recall, but the market was down at that time. Still, due to age of airframe and what sounds like a fair amount of interior work needed on this to spruce it up, I'm guessing you'd be lucky to get something in the $90's. But I say this without doing any comparison on TAP or Controller. Good luck! It was blowing a quart out the breather every 3 hours so we did a top. Quote Link to comment Share on other sites More sharing options...
Bob - S50 Posted October 1, 2020 Author Report Share Posted October 1, 2020 41 minutes ago, ArtVandelay said: 2279 hours for a 78J! Has it been sitting idle? Tom No. We got it 6.5 years ago with 800 hours on it. It flies an average of about 200 hours/year. Quote Link to comment Share on other sites More sharing options...
Bob - S50 Posted October 1, 2020 Author Report Share Posted October 1, 2020 1 hour ago, Jeff_S said: Pretty difficult to say without seeing pictures. The panel has a few components in it that you could build around, but from the description it sounds like a jumble of old and new. Discerning buyers who are used to seeing more flat panel displays - including aftermarket rebuilds - would want to do that here as well. Engine has some history with a TOH, so I'd want to understand that better. I can tell you that I sold my 1990 J in 2010, which had a somewhat modern panel GNS 480, MF-20, JPI, etc.) and the interior was new leather. Hours were about the same including a TOH. I got around $135K for that as I recall, but the market was down at that time. Still, due to age of airframe and what sounds like a fair amount of interior work needed on this to spruce it up, I'm guessing you'd be lucky to get something in the $90's. But I say this without doing any comparison on TAP or Controller. Good luck! You can see the paint job in my avatar. Quote Link to comment Share on other sites More sharing options...
ArtVandelay Posted October 1, 2020 Report Share Posted October 1, 2020 You can see the paint job in my avatar.The thumbnail picture is not very helpful. Not that it matters much, paint is hard to judge from pictures. I would say 100 give or take.Tom Quote Link to comment Share on other sites More sharing options...
Hank Posted October 1, 2020 Report Share Posted October 1, 2020 Surely your partnership papers discuss selling shares and buying out partners? Also, as with many others [i.e., rebuilt / restored cars, houses, etc.], the amount invested does not affect the value. Sometimes the investment can be recovered, most often it's only partially recovered. Even Bob's gorgeous E didn't recover his investment in the panel and paint . . . Good luck with the sale, and happy hunting for your replacement! You are going to stay around and keep flying, I hope? Quote Link to comment Share on other sites More sharing options...
Bob - S50 Posted October 1, 2020 Author Report Share Posted October 1, 2020 1 hour ago, Hank said: Surely your partnership papers discuss selling shares and buying out partners? Also, as with many others [i.e., rebuilt / restored cars, houses, etc.], the amount invested does not affect the value. Sometimes the investment can be recovered, most often it's only partially recovered. Even Bob's gorgeous E didn't recover his investment in the panel and paint . . . Good luck with the sale, and happy hunting for your replacement! You are going to stay around and keep flying, I hope? Yes it does. We have a majority wanting to sell the plane so we could do that. However, the one remaining wants to keep the plane and find new partners. We are willing to do that if we can come to an agreement about what a fair price would be. We were thinking with dual G5s, following a GTN650, driving a full up GFC500, with ADS-B OUT/IN, that we might be able to sell it for $125k to $135k. I was just looking for an idea of what others thought without influencing their thoughts (which I have now done). Quote Link to comment Share on other sites More sharing options...
mike_elliott Posted October 1, 2020 Report Share Posted October 1, 2020 Might I suggest this....You come up with a number and he can either buy your share or sell you his for that number. 4 Quote Link to comment Share on other sites More sharing options...
Niko182 Posted October 1, 2020 Report Share Posted October 1, 2020 Id say at least 125k. A gfc500 is a 20k install alone. Quote Link to comment Share on other sites More sharing options...
kpaul Posted October 1, 2020 Report Share Posted October 1, 2020 3 hours ago, Niko182 said: Id say at least 125k. A gfc500 is a 20k install alone. But it doesn't raise the price that much. Might see the 7K in parts back, but the install cost is a loss. A buyer would expect a plane north of 100K to have an autopilot. Quote Link to comment Share on other sites More sharing options...
ZuluZulu Posted October 2, 2020 Report Share Posted October 2, 2020 Send @jgarrison a case of his favorite beer in return for a 30-minute call, and you might have your answer. 1 Quote Link to comment Share on other sites More sharing options...
ArtVandelay Posted October 2, 2020 Report Share Posted October 2, 2020 But it doesn't raise the price that much. Might see the 7K in parts back, but the install cost is a loss. A buyer would expect a plane north of 100K to have an autopilot.Plus he still has that kns80, actually 3 of them, for which I subtracted $5k. ;-) Quote Link to comment Share on other sites More sharing options...
carusoam Posted October 2, 2020 Report Share Posted October 2, 2020 A few ways to narrow down the proper value of this particular aircraft... 1) You know how much you paid for it and all the things that got added to it... Adding all this up should give a very high number...near the edge of the ball park... not including market forces... 2) If you subtract all the hours used since you bought it, out of the initial investment... that would adjust for your cost and what you used from it... Engine wear and tear, etc... 3) The Mooney Flyer has a pretty good cost estimator... 4) Jimmy is the real deal... to get him to stand behind the price may need something more substantial than a case of beer... 5) The price needs to be as accurate as possible... Something you can live with if you keep it... Something you can live with if you don’t... 6) Using Jimmy could be really helpful... Since I haven’t talked to Jimmy... let’s use Sales Guy X for that role... Sales Guy X Assigns a proper sales price for the plane... Based on actual recent Mooney sales around the Mooney World.. Sales Guy X starts to market it... It will need a proper timeline to adhere to if one player wants to buy it before it goes to market... This would be the fastest, reliable way to dispose of the asset... at the best and fair price... 7) Sounds like something is breaking up the existing relationship... a normal course of events... 8) This plan will only work if all players agree to it... One thing I agree on... to get feed back on MS... you have to expose a fair amount of what you are thinking... PP thoughts only, not a plane sales guy... Best regards, -a- Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.