What's a 1963 C in great shape worth?

[CPeterJr]

Have owned '63 C for exactly 40 years, always hangered, and conservatively maintained. What I've been hearing is that I have her value with my insurance company too low. TT 5,800 hours. SMOH 1,840 hours. (Previous OH at 2,400 hours, and only then due to a leak.) Oil analysis every oil change since SMOH—Blackstone Lab has good things to say every report. No glass cockpit, but dual nav/com, one with ILS and one with GPS. ADF. Four seat cockpit com. Also AOA meter, carb heat gauge, and EGT gauge. IFR ready. Ext. 9, Int. 6 with sheepskin front seat covers. Front seat shoulder belts. The improved front cowl and windscreen. All ADs, etc. complied with as issued. Without seeing her, and I think you'd be impressed, what's she worth today and what I should have as an insured value? Thanks.

[Joe Hood]

Mid 40s, is my guess.

[Boilermonkey]

Maybe $60K if you have an autopilot like and STEC 30 and a Garmin 430 with WAAS.   Those add quite a bit of value for an airplane for someone wanting to do more serious IFR without a full panel upgrade.

[A64Pilot]

I woud say insure or for 1.5 times the cost to repair a gear up. I say that as a gear up is possible even if unlikely, and it’s my understanding that due to residual value of the aircraft that insurence won’t pay repair costs if the cost plus the residual value equals the insured value. Assuming of course they will write one that high.

‘What does a gear up cost? I can’t say, I could only guess, maybe ask around.

That is if you really had rather have it repaired then you would rather have a check

‘In other words let’s say you insure for 40 and a gear up cost 35 to fix, if the value of the damaged airplane is 10, then your getting a check, with maybe an option to buy the airplane back for 10.

Those numbers are made up and not meant to represent the actual costs.

‘I did see an old guy lose his Maule, he collapsed one gear, not a big deal but insurence showed up and immediately wrote a check and turned around and sold the airplane for pretty much what it was insured for, as he had it underinsured.

He ended up buying it back after it was repaired as he never wanted to lose it to start with. Older M4. He had it insured for what he paid for it long ago, and believe it or not but years later it was worth more than what it sold for. Of course inflation meant that every year the actual value of the fixed dollar amount shrunk.

Edited July 8, 2021 by A64Pilot

[Raptor05121]

50

[Ragsf15e]

1 hour ago, A64Pilot said:

I woud say insure or for 1.5 times the cost to repair a gear up. I say that as a gear up is possible even if unlikely, and it’s my understanding that due to residual value of the aircraft that insurence won’t pay repair costs if the cost plus the residual value equals the insured value. Assuming of course they will write one that high.

‘What does a gear up cost? I can’t say, I could only guess, maybe ask around.

That is if you really had rather have it repaired then you would rather have a check

‘In other words let’s say you insure for 40 and a gear up cost 35 to fix, if the value of the damaged airplane is 10, then your getting a check, with maybe an option to buy the airplane back for 10.

Those numbers are made up and not meant to represent the actual costs.

‘I did see an old guy lose his Maule, he collapsed one gear, not a big deal but insurence showed up and immediately wrote a check and turned around and sold the airplane for pretty much what it was insured for, as he had it underinsured.

He ended up buying it back after it was repaired as he never wanted to lose it to start with. Older M4. He had it insured for what he paid for it long ago, and believe it or not but years later it was worth more than what it sold for. Of course inflation meant that every year the actual value of the fixed dollar amount shrunk.

Yes, you want it insured for it’s full value, but over-insuring isn’t a good idea.  If you cause significant damage, the insurance company will pay to “fix” it, but you’ll be left with an airplane potentially worth much less after significant damage history.  Not to mention the time involved in those kind of repairs.  If it suffers enough damage to be “totaled” you want them to write a check that could buy you pretty much what you just lost.

[CPeterJr]

4 hours ago, Boilermonkey said:

Maybe $60K if you have an autopilot like and STEC 30 and a Garmin 430 with WAAS.   Those add quite a bit of value for an airplane for someone wanting to do more serious IFR without a full panel upgrade.

Single-axis Brittan autopilot coupled to both KLX-135A and KX-155. Forgot to mention uAvionix SkyBeacon ADS-B out on left wingtip.

[Boilermonkey]

Maybe $50k.   Needing a new engine soon might devalue a bit.

[ArtVandelay]

There’s only one available on controller, $60k, 1100 smoh.

[carusoam]

Welcome aboard CP jr.

You have asked the key question for everyone buying insurance…

There is pain for over insuring…

There is pain for underinsuring…

Getting it right is important …

There is a resource for valuing a Mooney called the MooneyFlyer…. It is an independent  website…

be ready to guess and do linear math for basic things….

Airframe

engine hours since TBO…

Exterior

Interior

Instrument panel

 

To know how insurance works…  ask Parker…

@Parker_Woodruff

Best regards,

-a-

 

 

[Boilermonkey]

Sold our 1963 M20C for $57k.  1100 SMOH.  50 SPOH.  Leather interior in good shape, good paint.  Garmin 430W, STEC30+A, Lynx transponder, new 403MHz ELT.  Recently sealed tanks. Recent gear pucks, new nose truss, starter, mags, SOS.