mobilepolice
Well-Known Member
- Joined
- Jun 16, 2013
- Messages
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I'm having trouble getting good values on aircrafts while trying to purchase a Seneca.
I've been using trade-a-plane's NAAA Evaluator, which so far seems to give me good values close to what my lender also calculates.
Trouble is, most sellers I'm talking to don't believe the numbers I'm coming up with for their aircrafts are fair.
I'm looking at one airplane out of Austin, TX listed on barnstormers right now that works up to $75k. Same number my lender came up with. Owner won't settle for less than about $85k.
I've heard that twins are going for basically the cost of the engines, and that would put a late 70's era Seneca with 900 hours on the engines worth about $40k.
What's the discrepancy here? Are the tools that far behind? is the market accelerating at that sort of pace?
Another example. I recently visited KDEC and looked at a similar vintage Seneca that had been sitting for 8 years. Needs two new engines, new turbos, complete overhaul of the landing gear, some surface corrosion cleanup, new janitrol heater, new hotplate, new hotprops and new wing and tail boots. new tires. tubes. brakes and calipers, all new fuel hoses. new fuel sender seals (and fuel senders reportedly) new sump drains; something needs to be look at in the elevator (tail very heavy) and the rudder pedals are sloppy when on the ground (very firm in my cherokee, not sure why the difference)
so the above is easily $85k work. $65k in corona overhauls and the other $25k in labor and misc **** that needs to be done.
Asking price? $38,500 FIRM. I figure it's worth $15k, and that was $10k for the airframe and $5k for the 430 and MX20.
Booked somewhere around $12k.
I'm at a loss, what do you guys do for valuing aircraft and looking for a deal? or is it just wait for all these old rich guys to get tired of having their aircraft listed for sale and catch them at the right moment sort of thing?
I've been using trade-a-plane's NAAA Evaluator, which so far seems to give me good values close to what my lender also calculates.
Trouble is, most sellers I'm talking to don't believe the numbers I'm coming up with for their aircrafts are fair.
I'm looking at one airplane out of Austin, TX listed on barnstormers right now that works up to $75k. Same number my lender came up with. Owner won't settle for less than about $85k.
I've heard that twins are going for basically the cost of the engines, and that would put a late 70's era Seneca with 900 hours on the engines worth about $40k.
What's the discrepancy here? Are the tools that far behind? is the market accelerating at that sort of pace?
Another example. I recently visited KDEC and looked at a similar vintage Seneca that had been sitting for 8 years. Needs two new engines, new turbos, complete overhaul of the landing gear, some surface corrosion cleanup, new janitrol heater, new hotplate, new hotprops and new wing and tail boots. new tires. tubes. brakes and calipers, all new fuel hoses. new fuel sender seals (and fuel senders reportedly) new sump drains; something needs to be look at in the elevator (tail very heavy) and the rudder pedals are sloppy when on the ground (very firm in my cherokee, not sure why the difference)
so the above is easily $85k work. $65k in corona overhauls and the other $25k in labor and misc **** that needs to be done.
Asking price? $38,500 FIRM. I figure it's worth $15k, and that was $10k for the airframe and $5k for the 430 and MX20.
Booked somewhere around $12k.
I'm at a loss, what do you guys do for valuing aircraft and looking for a deal? or is it just wait for all these old rich guys to get tired of having their aircraft listed for sale and catch them at the right moment sort of thing?
