Considering Ovation

[Alan Fox]

Considering Ovation , as they have become very inexpensive , toying w/95 O with TKS and 480 / mx20 .....Probably about 110 K .....2500 tt 1400 SMOH .... I like the non turbo , what do you think the parts situation will be in 5 years , how do you think the value will be impacted when the factory shuts down.....Currently fly an older Bonanza , (s model) and have an E mooney , will sell both and move into one airplane......  

[Steve Dawson]

From what I understand parts are still available but maybe hard to get on time. Why are you selling your Bonanza? TKS?

[Parker_Woodruff]

Sounds like from this board and elsewhere there is nice chatter coming out of the factory.

 

I haven't had any parts problems on my plane since I bought it in June 2011.

[BorealOne]

Wow - I'd look pretty carefully at any O with TKS for 110k. Caveat emptor, as that's well well below market.

[Alan Fox]

From what I understand parts are still available but maybe hard to get on time. Why are you selling your Bonanza? TKS?

Just toying w/the idea , a nice newer plane is tempting....

[KSMooniac]

I think the biggest headache for an early R vs. any vintage Mooney is the typically loaded panel with now older tech that is expensive to keep going.  Front and center are the pretty Moritz engine instruments, followed by the KFC autopilot (especially if it has altitude pre-select), Flight Director, HSI, etc.  If I were looking to move up, I would have some significant reserves set aside to replace those as they fail with a modern engine monitor, Aspen/G500, etc. as needed.  Not to mention older GPS or other NAV equipment.

 

Regardless, it is a great time to buy just about anything.

[gjkirsch]

I agree with an earlier comment that 110K is way under market and something must be wrong.  I know the market has been soft but that has to be 50K to 60K low.  Ovations have held up better than most and it is one of the preferred model Mooneys.

[mschmuff]

Go for it!  I looked at this plane as well.  It was flying often &1400 still has plenty of life left.  There is damage history but that doesn't bother me.  The MX20 is no longer supported by Garmin and I would believe the 480 isn't too far behind but those aren't deal breakers either.

 

*** I don't think a lot of people out there want to admit how bad the market is right now! GA planes over $100k aren't moving unless they are priced well below book value.  Now I'm sure there are a couple examples of people getting the price they want but "in my opinion" the market sucks! I'd be terrified to see what I could get for my F.

 

As long as you do a good pre-buy, I'd worry more about selling your other two planes!

[Alan Fox]

Go for it!  I looked at this plane as well.  It was flying often &1400 still has plenty of life left.  There is damage history but that doesn't bother me.  The MX20 is no longer supported by Garmin and I would believe the 480 isn't too far behind but those aren't deal breakers either.

 

*** I don't think a lot of people out there want to admit how bad the market is right now! GA planes over $100k aren't moving unless they are priced well below book value.  Now I'm sure there are a couple examples of people getting the price they want but "in my opinion" the market sucks! I'd be terrified to see what I could get for my F.

 

As long as you do a good pre-buy, I'd worry more about selling your other two planes!

Yes , people are in serious denial......I think with the Mooneys especially , you can name your price......Most all the ones Im looking at have been listed for more than a year.....The brokers I have talked to say it takes a lot longer to sell....The down side is that more people are getting out , than getting in , so there is an abbundance of inventory....If I could trade up it would be a no brainer,but it is a broker deal , and the performance gain is not big enough to justify the expense , just because I want a newer plane.....If I needed FIKI this is a steal..... 

[bnicolette]

Yes , people are in serious denial......I think with the Mooneys especially , you can name your price......Most all the ones Im looking at have been listed for more than a year.....The brokers I have talked to say it takes a lot longer to sell....The down side is that more people are getting out , than getting in , so there is an abbundance of inventory....If I could trade up it would be a no brainer,but it is a broker deal , and the performance gain is not big enough to justify the expense , just because I want a newer plane.....If I needed FIKI this is a steal..... 

 

I was looking at that one also but they have it listed at $129.  Were they really ready to come down to $110?  

[201er]

Considering Ovation , as they have become very inexpensive , toying w/95 O with TKS and 480 / mx20 .....Probably about 110 K .....2500 tt 1400 SMOH .... I like the non turbo , what do you think the parts situation will be in 5 years , how do you think the value will be impacted when the factory shuts down.....Currently fly an older Bonanza , (s model) and have an E mooney , will sell both and move into one airplane......  

Alan, so you've finally come to terms with Bonanza's disability? Wonder what kind of flack your fielding on beechtalk! Or are you playing it both ways again?

[carusoam]

Sunshine boost for the day...(warning!!!)

The key word is "faith"...

It takes faith to buy a plane. Where we will we buy Avgas next year??? Same place as last year...

It takes faith to buy a Mooney. The plant has closed again... And again and again... Now it's up and making parts for our "used" Mooneys.

It takes faith to buy one of the less popular Mooneys. the big thing up front that wears out (IO550) is the 2nd most popular engine in the GA fleet and is still built and factory reman'd here in the good ol' USA.

It takes faith to do things that ordinary people are afraid to do.

High inflation rates used to make ordinary purchases look like investments. They were not investments... They went up in price at a rate lower than everything else. That's the same thing as prices declining in a stable pricing environment.

New cars used to rust and wear out in 3 year cycles. I don't expect to spend money on a new car for many years to come. ( you know about my LT1 firebird...) that extra cash gets spent on airplanes that decline in value.

Gasoline prices were driven by short supply. Supply is trending upwards in North America, price is trending down...

In a stable price environment everything "used" will be declining in value relative to "new".

Price of housing has declined. So buy a house if you haven't already.

Interest rates have declined. So refinance your house if you haven't already.

Use the money saved on housing and new cars and spend it on that awful investment known as airplanes.

Have faith Alan. Pick what you want to do and go after it.

I like the O3 powered long bodies, if you want my opinion!!!

Best regards,

-a-

[jackn]

+1. The best plane to own, is the one you enjoy flying and working on. Life's short.

[Alan Fox]

Alan, so you've finally come to terms with Bonanza's disability? Wonder what kind of flack your fielding on beechtalk! Or are you playing it both ways again?

No disability at all , A 1995 Bonanza is over 250K with those kind of hours on it....And carries a lot more stuff , although a few knots slower.....But a 1995 Plane with FIKI for 110 .......Its a steal ........ And still not sold yet.....

[bnicolette]

No disability at all , A 1995 Bonanza is over 250K with those kind of hours on it....And carries a lot more stuff , although a few knots slower.....But a 1995 Plane with FIKI for 110 .......Its a steal ........ And still not sold yet.....

 

Actually Alan it is under contract.  Not sure what it sold for but the asking price I saw was $129K.