'83 201 Value

[Jasper180]

Hello all!  Been lurking around for a couple of weeks, have question now.

Looking at a partnership in a '83 201, at the point of putting a value on it. 

TTAF <2400 hrs, SFRM <200 hrs, prop overhaul <200 hrs.

530w installed last year, original A/P and HSI

Original paint and interior, paint looks good interior is rough.

Using a July, 2009 issue of MAPA Log came up with $105,900 before deducting for paint and interior (up to $9,000).  Two years ago after the engine and prop were done he was offered $115,000.  (was not interested in selling his plane, would like a partner now) He understands the market has gone down since then and told me to make an offer for half the plane.

Thank You in advance for any feedback

Erik

[Rustler]

Eric,

Sounds about right to me.  Last year I got a 1979 J with less time for mid $80s.

Randy in Nevada

N4569H

[davidfreedman]

Eric,

I bought my 1983 201 in April 2008 for $124k.  This was right before everything went to crap.  This included an overhauled engine with about 20 hours on it and a fresh prop.  Also, a new panel with all the goodies (480/mx20, SL30, 347, 327, stormscope, jpi800).  That number's hardly relevent any more.

When I bought it, I used aircraftbluebook, vref and mapalog.  I found mapalog to consistently give the most favorable valuations (for the seller).  I'd recommend checking at least one of the others for some balance.  Personal opinion, sub $100k sounds right in this market with that config unless he's got more toys that aren't listed.

 

Good luck!

[KSMooniac]

I too think you're in the right ballpark.  I wouldn't sweat +/- $5000, frankly, if you get a good vibe from the seller/partner and especially how the plane has been flown and maintained over the years.  If you see regular use and maintenance in the logs without deferred items, that is worth a premium price IMO.  It would be far worse to get a cheaper plane that eats you alive (and causes you to scrub flights) thanks to neglected items from the previous owner.  Good luck!

[fantom]

Around $110K is good, and + or - $5K will make less of a difference than a VERY clear partnership agreement. Think prenup, and ALL contingencies possible.....knowing they could never really happen, because you never know what the future may hold.

And do it in writhing. I think AOPA has a draft partnership agreement available, as a starting point. Good luck!

 

[Rustler]

Oops. Randy in Nevada's post was his, not mine.

[Jasper180]

Thanks for the input guys; hoping to fly the plane this coming week. 

Happy Easter to those that celebrate the holiday.

 

Erik

[RJBrown]

Not a fan of any type of business partnership. Seen too many end nastier than a divorce. Fact of the matter is the partnership WILL end. Partners WILL disagree. Like good fences make good neighbors. The better and more complete the partnership agreement is the better the partnership will be. That said I have seen some partnerships become friendships that outlast the original partnership. The people factor is always most important.

[KLRDMD]

Quote: RJBrown

Not a fan of any type of business partnership. Seen too many end nastier than a divorce. Fact of the matter is the partnership WILL end. Partners WILL disagree. Like good fences make good neighbors. The better and more complete the partnership agreement is the better the partnership will be. That said I have seen some partnerships become friendships that outlast the original partnership. The people factor is always most important.