What's your opinion?

[Lood]

After being on the ground for almost 6 months due to a complete firewall forward overhaul, my Mooney will be flying again in three weeks time. I am VERY, VERY excited to say the least.
However, a local agent called me and asked whether I wanted sell. I told him "no", but in case I got offered a ridiculous price, I would probably consider it. The used airplane market here in SA has just about come to a stand still and nothing really moves. There are a couple of 'F's on the market, ranging from around $60k - $70k and nothing sells.

I told the agent that if I could get $87k, I would probably sell. I had my engine completely rebuilt with brand new parts from Lycoming. This includes pistons, camshaft kit, crankshaft kit, crankcase, etc, etc. Basically, the only overhauled or reconditioned items that were used, are the cylinders. I bought 4x first life cylinders that were still standard, had them bored to +10 and overhauled as per regulations. This excercise is costing me a small fortune, but in the end, my Mooney will always be a stock "F" from 1967.

My line of thinking was that if I could sell it at $87k, I could upgrade to a "J" model. There are a few on the market here and one that specifically caught my attention is a '78 model that has 300hrs left on the engine and it can be had for around $65k. It had a complete top end overhaul about two years ago due to a prop strike, which means that it will easily reach its TBO. With the amount of flying that I do, I will fly it for another 5 years to TBO. I will then use the change from my"F" to replace the engine with a factory reman and I'll have a "J" that is good for life.

Good example "J"s keep their value much better compared to the vintage models and midtime models sell anywhere from $100k - $120k here in SA - depending on year model, hours and overall condition of course. Apart from being even more efficient, the "J" seems a better investment and I've always wanted one.

What would you do?

[jetdriven]

Take 87K with no concessions, and buy the J for 65k.  Move quixkly, becuaw if you sell your F, and there is no J available,  you have to go look for anotehr 65K J.

 

[OR75]

sounds like a good way of upgrading to a more modern airframe. I would go for it. 

Do I get a tour if I ever make to to SA ?

[Shadrach]

I'll play devil's advocate.

Spec them both out on paper.  What are you really getting with the upgrade performance wise? How much of a difference will it make in your mission. The payload differences between the 2 birds in question can be >100lbs. Especially if you've pulled all of the old heavy avionics and generator out of the plane.  
You finally have a plane with a known quantity hanging on the front and I assume the warranty to go with it. A new plane is a new relationship with all of the potential of the same expensive gotcha's that have already gotten you once.
Sit down and quantify the differences then weight them.

To me the differences are as follows:

The J looks much cooler than an unmodded vintage bird.
The J is 5-10kts faster (AC dependent)

Airframe is more of condition thing than an age thing.

Equipement is the real variable. If you are able to upgrade to a panel that is more suited to your mission, than you've found some economy.

Remember though, that the next plane is one unknown squawk away form doing you like you your last one did...

[rbridges]

Quote: Shadrach

I'll play devil's advocate.

Spec them both out on paper.  What are you really getting with the upgrade performance wise? How much of a difference will it make in your mission. The payload differences between the 2 birds in question can be >100lbs. Especially if you've pulled all of the old heavy avionics and generator out of the plane.  
You finally have a plane with a known quantity hanging on the front and I assume the warranty to go with it. A new plane is a new relationship with all of the potential of the same expensive gotcha's that have already gotten you once.
Sit down and quantify the differences then weight them.

To me the differences are as follows:

The J looks much cooler than an unmodded vintage bird.
The J is 5-10kts faster (AC dependent)

Airframe is more of condition thing than an age thing.

Equipement is the real variable. If you are able to upgrade to a panel that is more suited to your mission, than you've found some economy.

Remember though, that the next plane is one unknown squawk away form doing you like you your last one did...