quinnjim
Well-Known Member
- Joined
- Oct 29, 2014
- Messages
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I'm brand new here and have been checking out the wealth of information.
I'm an airline guy (20 years) with a current CFI. I just recently taught a buddy how to fly a 1976 Archer. After spending a lot of time in that plane, I decided to find one of my own.
I found a 1973 Challenger which I believe is the same as the Archer. It does have the "Hershey Bar" wing…but that's fine with me!
The airplane had Mattituck do the engine overhaul in 2010 to new specs (nice!). There are only 260 hours on the engine. It has modern paint and a nice leather interior. It also has a Garmin 430 and basic autopilot.
As the title of the thread points out, there is a problem. The airplane was repossessed just prior to the new engine. The logbooks were not surrendered. The new owner did the engine overhaul and the radio upgrade.
The plane has now been flying for 4 years and is currently in annual. I have seen the plane fax report and there isn't anything wrong that shows up there. I have seen the FAA registration records, and the story about the repossession checks out.
From the FAA records, it looks like the plane has about 4,800 hours on the airframe.
I understand that the value is affected by the missing logs. It seems like the engine overhaul was probably worth $25K and the Garmin 430 was probably around $10K. The interior would cost $8K and the paint probably about $10K. The autopilot is kind of an expensive option too…
The upgrades alone are worth over $50,000.
If I could pick this plane up for $45,000….would it be worth it?
Are the missing logs something to avoid completely, or do you just have to make sure the sale price reflects the lower value?
There aren't many Challengers for sale, so I'm not exactly sure how much this plane is worth (even if it had complete logs).
Can anyone offer any insight on this?
Thanks for any help!
I'm an airline guy (20 years) with a current CFI. I just recently taught a buddy how to fly a 1976 Archer. After spending a lot of time in that plane, I decided to find one of my own.
I found a 1973 Challenger which I believe is the same as the Archer. It does have the "Hershey Bar" wing…but that's fine with me!
The airplane had Mattituck do the engine overhaul in 2010 to new specs (nice!). There are only 260 hours on the engine. It has modern paint and a nice leather interior. It also has a Garmin 430 and basic autopilot.
As the title of the thread points out, there is a problem. The airplane was repossessed just prior to the new engine. The logbooks were not surrendered. The new owner did the engine overhaul and the radio upgrade.
The plane has now been flying for 4 years and is currently in annual. I have seen the plane fax report and there isn't anything wrong that shows up there. I have seen the FAA registration records, and the story about the repossession checks out.
From the FAA records, it looks like the plane has about 4,800 hours on the airframe.
I understand that the value is affected by the missing logs. It seems like the engine overhaul was probably worth $25K and the Garmin 430 was probably around $10K. The interior would cost $8K and the paint probably about $10K. The autopilot is kind of an expensive option too…
The upgrades alone are worth over $50,000.
If I could pick this plane up for $45,000….would it be worth it?
Are the missing logs something to avoid completely, or do you just have to make sure the sale price reflects the lower value?
There aren't many Challengers for sale, so I'm not exactly sure how much this plane is worth (even if it had complete logs).
Can anyone offer any insight on this?
Thanks for any help!
