What Is It Worth?

[LANCECASPER]

41 minutes ago, Echo said:

Honestly, sorry I asked as I explained that I was asking ONLY what you would pay as is.  For a group of enthusiast's, there is a lot of negativity...By that I mean beware warnings.  I have owned multiple Mooney's...Not my first or second rodeo.  Already looking forward to a third of the travel time for missions, and as a soon to be retired guy a few upgrades to enjoy the process.  Many Mooney's have a slow seep in tanks.  These tank are a third full after three years...Paint is updated.  The plane has been hangered.  Just needs a good wash and wax on exterior.  Maybe a bk or Other auto pilot if they ever get approved...I am not trying to be cheap.  I see an opportunity.

Blue skies...or stormy I enjoy the ride.

If you know everything then why would you need our help? There are some of the nicest, kindest people on Mooneyspace, but telling people what they can and can't tell you after they try to help you isn't going to win you friends on any Internet forum, especially this one. 

[A64Pilot]

The no log books is to me a big deal, that will really hurt it’s value no matter how good you make it.

To inspect the cam your going to have to pull a couple of the jugs

I think at 30K it would be hard to go wrong based on your description, any chance they could find the books?

[Echo]

1 hour ago, A64Pilot said:

The no log books is to me a big deal, that will really hurt it’s value no matter how good you make it.

To inspect the cam your going to have to pull a couple of the jugs

I think at 30K it would be hard to go wrong based on your description, any chance they could find the books?

No.  Gone.

[Echo]

12 hours ago, Echo said:

Would like user input on value as is for purchase of an M20E  I fully understand the unknowns with a Mooney that has sat in a hanger for three years.  Looking for price you would pay "as is".  Thanks in advance for input.  I value the collective wisdom of ""The Group".

1970 M20E  

No Logbooks, but known history for >20 years.  Partial logs/maint. known  

Approximately 3000 Airframe and engine

Hangered, but NOT flown for three years following I-Ran at Poplar Grove for prop strike.  New two blade at same time

Paint and interior 5

Garman 430w, Garmin ADSB compliant transponder, Fuel Flow, Four probe engine monitor, Brittain inop, No Auto Pilot, TKM back-up nav/com

Just assume tanks weep, but don't run

Lower cowl closure, Boom Beam, Strobes, Oil filer/spin on/Oil cooler relocate

Sigh...

[Skates97]

1 hour ago, A64Pilot said:

The no log books is to me a big deal, that will really hurt it’s value no matter how good you make it.

To inspect the cam your going to have to pull a couple of the jugs

I think at 30K it would be hard to go wrong based on your description, any chance they could find the books?

At $30k buy it and fly it. Have something in reserve just in case it starts making metal. After sitting three years there's a good chance that after getting used again it will make metal and need an overhaul. Of course you could get lucky and not need one, but have the money set aside just in case.

[Echo]

$30k is the number I was looking at for offer.  Thanks to those that gave their number.  

[A64Pilot]

I would pull two jugs and inspect the cam, if there is rust you know what your going to have to do, if there isn’t, it’s still not a guarantee.

If you wait until it starts making metal that’s going to be a whole lot more money of course

 

[Don Gates]

Given the avionics I would probably go $40-$45k.  No logs is bad, but if they can be largely reconstructed it isn’t the end of the world. That first annual is going to be an eye opener though, plan on an expensive one - maybe $5k or more.  I would look closely at what was done to the engine after the prop strike, did they split the case?  Is it known who did the inspection and can that shop help document what was done… invoice, work order, whatever?  I mean, IRAN can mean anything from “dialed the prop flange” to nearly a major overhaul, I would seek to understand what was actually done.  I’m  not hugely concerned about three years idle, depending what the storage conditions were.  Hangared in Arizona is different than sitting outside in Florida.

Getting an exceptionally thorough pre-buy inspection would be advised, I’d think.

[carusoam]

Well Echo,

What’s next?

 

If you are ‘only asking what other people would pay’…

Are you going to be surprised to find out…

It only matters what you are willing to pay…
 

….and that kind of has to match what the current owner will let it go for…

 

Fully run-out Mooneys are priced higher than 30amu…

But, if all you have to work with is 30amu…. Good luck!

Do you have prior airplane ownership experience?

Are you going to be disappointed if things go bad after your purchase?

Are you planning on making this M20E into a forever-plane?

 

Most first time owners are handed the advice…

1) be careful buying a plane that doesn’t get flown often….

2) Don’t buy a hangar queen…

3) Don’t spend your reserves on upgrades the first year…

4) No log books…  this is better for some people with strong mechanical backgrounds….  When they have this much knowledge… they usually don’t ask other peoples opinions about what they are buying….

 

I skipped that advice buying an M20C….   Except it wasn’t a hangar queen….  It was an outdoor kitty….   

If you have reserves… go for it!

If you live paycheck to paycheck… be ready for some tough calls…

 

You do know there is a pricing guide for Mooneys… right?

 

Why no pics?

Best regards,

-a-

[A64Pilot]

I know of no way to honestly reconstruct logs, you might get lucky and get the work order if the engine / prop had been overhauled recently and you knew where, if they kept the records.

But about all I’ve ever seen was a statement from the owner that says something along the lines of to the best of our knowledge the aircraft has x hours on it etc.

Might want to see if there was any accidents in the NTSB database etc, of course get the CD the FAA has on file of 337’s etc.

The longer you keep it and the more hours you fly it the less important those missing books will be, my C-140’s book were destroyed in a fire in the 50’s, to me that’s been long enough to not matter, but I know people that wouldn’t buy it still.

But if you know the hit from the missing books and can live with it, that’s fine