Pricing Mooney to sell

[preinke]

I have a 77 J model with @3500TT and @950SMOH. 3 of the cylinders have been overhauled since I've had it (6 years). The interior has all new Plane Plastics and new grey leather seats. It has the KAP 200 autopilot w/ KCS55 and GX50 GPS and JPI700. The rest is King old school KX170B(2), KMA20, KT76A, KR86, KI208. The annual was just completed and the IFR cert will be done soon. I am looking  at consolidating the Mooney and Luscombe into a 180 . Will this move at $70K ? 

 

Paul Reinke

KIKV

[Cruiser]

In the end, they are all worth what the buyer is willing to give. Nothing more, nothing less.

[Marauder]

I have a 77 J model with @3500TT and @950SMOH. 3 of the cylinders have been overhauled since I've had it (6 years). The interior has all new Plane Plastics and new grey leather seats. It has the KAP 200 autopilot w/ KCS55 and GX50 GPS and JPI700. The rest is King old school KX170B(2), KMA20, KT76A, KR86, KI208. The annual was just completed and the IFR cert will be done soon. I am looking at consolidating the Mooney and Luscombe into a 180 . Will this move at $70K ? Paul Reinke KIKV

The stack is what would me say no. The 170Bs are beyond old school, their ancient. If someone is looking for it as an IFR platform, there are better equipped planes available. But as Cruiser said, the buyers will determine the worth.

[Jerry 5TJ]

Suggest you market it as a great upgrade candidate:  Assuming good complete logs and good paint to go along with the new interior someone could build upon the solid autopilot and upgrade all the avionics to WAAS for maybe $30K giving them a fine "J" for under $100K. 

[KSMooniac]

That autopilot is rare in a '77 and desirable vs. none or a Century, but the rest of the panel is a drag.  If you believe Jimmy Garrison's market commentary, almost all Mooney buyers are demanding at least a GNS-430, if not one with WAAS, these days, and if you don't have that your plane will sit on the market unless the price is crazy-low.  It definitely needs to be spun as an upgrade candidate as Jerry suggests.  You might consider trying to find a deal on a used 430W and installing it... you might be able to get all of the extra expense back at sale time AND sell it quicker.  Just a thought...

 

If I were shopping, I'd pass and pay more for an example with a more modernized panel.

[Mooneymite]

>>>>> . Will this move at $70K ? <<<<<

 

Lots of other factors besides avionics:  location, "curb appeal", always hangared, damage history, etc.

 

Tell us more.

 

 

[Cruiser]

I just did a quick check of the online listings for '77 M20Js for sale. There are a few, some in the $65k range, some higher but they have updated panels. 

So it seems you are "in the range" for pricing but remember it is rare that a plane will actually sell for the advertised price. 

 

So to answer your original question..........  probably not.

 

Good luck.

[FloridaMan]

When I was shopping, that plane would have caught my attention. 

[preinke]

The problem with polishing the turd is that it never has quite the right shine. A 430 is becoming old school with Avidyne and Garmin's new line. Good comments though . I wish I had spent more when installing the GX60 but it was an easy replacement of a Loran unit. It probably always will be a light IFR machine because of lack of redundancies.

[KSMooniac]

I wouldn't go so far as saying you have a turd  , especially if it is a pristine airframe with no damage and no corrosion.  Anything else can be updated...it just becomes a debate of how much you want to do/spend vs. waiting on that right buyer to come along.  It doesn't hurt to advertise now as-is and see what you get, but how soon do you need to sell?  I agree that the 430W is now old, but they're still in demand and a good used unit will be cheaper than the latest offerings from G or A.  If you installed a new GTN-650 today it would certainly sell quicker, but you would probably lose 50-60% of the cost of that upgrade.  The GX-series is pretty much obsolete and not supported...heck, the KX170Bs are probably more repairable than a GX50 right now.  You might get lucky and get a 430W for $6000 and be in for $8k total with an indicator installed if you shop around and be able to get all or at least most of it back.

[preinke]

With a 430W in center stack , is an anunciator required ? The GX50 has an annuciator / switch - can this stay ? Will give Spencer Avionics a call.

[KSMooniac]

No annunciator required for Mooneys with the box in the center stack.

[benpilot]

Drop the price by 20k and we should talk. I am going need to invest 20k in new avionics and autopilot to fly it.

[preinke]

Bob Bramble just overhauled the AI and Quint (Spencer Avionics) takes care of the KCS55/KAP200 system . For 50K Ill keep it . A Mooney , a 180 , and a per war chief would make a pretty hot combo

[pirate]

Stick to the 70K price it will sell...........

[jetdriven]

I agree, 70K is a good starting price. we paid ten grand less, but got a 1977 with a 1300 hour engine, a Century IIB autopilot, and 5000 AFTT with so-so interior and paint. Many buyers long for a 201 but can't afford it. They either buy a low priced J (as we did), or a nice C, E, or F.  But in the end, you can't stretch a M20E 11 inches and go faster.  The early M20J's are a good value in that price bracket and the KFC-200 is an awesome autopilot if it works well.

[rbridges]

I was shopping 3-4 years ago, but I believe prices are pretty flat since then.  Anyway, the cheapest J's I could find were in the 60s.  I did find one for 59K with new paint and low SMOH, but the panel was very dated.  The others were high TT.  Yours would have caught my eye, but I would probably try to talk you down closer to 60-65 if everything checked out.

[thinwing]

HMM..nice autopilot and hsi is nothing to sniff at..yeah the two 170 b are ugly as sin but they never break...that is why they are still there..if someone is trying to buy your aircraft with glass installed..thay are not going to do it for 70k...only very naive ,very little experienced buyers would seriously make an offer like skynewbies...ignore that...better yet..find someone who is tired of his 135kt 180 and trade...

[kclimie]

Based on your description, you certainly have my attention at that asking price...  It might just be a few months too early for me though.

[gregwatts]

The only way to find out if it will move at $70K is to put it out there and field offers. I doubt there is anyone going to walk up and offer you full price.....so price it accordingly. A wise old woman once told me....."a fast nickel is better than a slow dime"...........she may be right.

 

 

 

 

My opinion only!

[preinke]

Buy high sell low seems to be my model. Our local flying group likes to go to local grass strips to have breakfast ,dinner .i took my wife with me to Amana for brunch in the Mooney. The grass was tall and wet and it was a pucker getting out. I bought a Luscombe to fly to these events and found I really liked the taildraggers. The guy who checked me out told me that it would make mea better Mooney driver. It really has improved my skills. I would love to maintain having these two different mission planes but the fixed cost is hard to justify with two kids in college. The 180 is definitely a compromise but a better fit for my current situation. I will always have a soft spot in my heart for Mooneys. I think they are an exceptional value now

[benpilot]

 

Hate to burst your bubble but VREF on your 201 checks out at 66k. It needs new avionics, etc. Still if I was on the market for a 201J it would interest me.

I still need to fly 201J, 252 and Bravo before I decide.

[kclimie]

You might want to review how to use and/or read Vref skynewbie.  Just plugging in the TTAF and the SMOH gets it to $66k.  Add in the new interior, the KAP200, the KCS55, and the JPI700 and you'd get a $79k valuation.

[benpilot]

 

VREF is RETAIL not used private party price which is much lower. I betcha if he priced it to sell at 60k he would sell it quickly rather than wait a couple years to sell it.

[38Blackfin]

I'm saving my pennies for a cash purchase at the end of the year- I had eliminated the '77's for a variety of reasons, but I would look at this one-

 

good luck with the sale!!

 

You're in the ballpark- ignore the armchair critics- seriously.

 

Randy