What is your opinion on this aircraft:
TT 5700 hrs
TSO 600hrs, overhaul done in 2011
Prop overhaul in 2017
Dual Garmin GNS530 (not WAAS)
Garmin GMA340 Audio Panel
Garrecht VT-2000 Transponder
S-Tec 30 autopilot
New exterior paint and interior done in 2011
These dual GNS530’s are great and they sure increase the value of the aircraft, however the owner is looking to get 100.000 euros for it and I believe that realistic price is about 80.000 euros especially with such high TT. What do you think? Should I get closer to the owners price or let him come to mine?
Not enough info – complete logs, known history, interior, country of registration, ageing SID? Twin Garmin 530 non WAAS is unremarkable value wise.
The Reims 182Q might be worth the asking price with a recent engine overhaul and good history. For that money would look for a Reims manufactured version.
5700TT for a forty year airframe is not high time.
From the maintenance perspective last year owner has replaced all six cylinders, windshield, serviced the magnets and replaced the alternator. He claims that the airplane is in perfect condition mechanically (this would of course be checked by independent mechanic).
The overhaul was done in 2011 so it’s not that recent, although there is only 600 TSO, and the aircraft is on German registrar, it has complete logs and I believe that it is maintained properly.
182’s used to be kicking around at the 45-55k stg mark going back 3-5 years. They then went up to 65k stg if you could find one. A low time 182R here with 400hrs TT from new sold for over 110k Euro. Original engine, paint etc all time warp condition. Average hours for 1975 182P are 4,725hrs and hours over that discount it by $2 per hour. If it was like the last ex-German 182 I sold, it could be really good and worth closer to the sellers asking price. The seller will easily sell it, so if you want it I’d move sweetly on a pre-purchase. Sounds to me like a good find for an end user.
I sold our 182P to buy the U206F. Great aeroplane!
I’ve also just seen this 182RG Turbo on PlaneCheck:
Asking price is 115k, and it has some very interesting avionics package, it might be worth checking out. What do you think?
Also, why is that price hike that is happening in last few years? I have noticed that as well, do you reckon it’s a trend and the prices are going to drop or this increase is here to stay?
http://www.planecheck.com?ent=da&id=42797 this one is 65 asking, maybe get it for a bit less and use the difference up to 100k to put some new avionics in?
My idea is to purchase an aircraft that is well equipped, fly it for a year to get to feel without doing anything to it and if I feel like keeping it for a longer time then I would make some avionics/equipment investment.
Funny you should ask about the hike in prices over the last few years @ dvukovic, I was wondering about that myself. I came across an old magazine the other day, 2014, someone was advertising a DA40 tdi for 54000 euros. A year ago a very similar aircraft, both in specs and in hours etc. was sold for 124000 euros.Perhaps buying a light aircraft is an investment after all :)
Perhaps buying a light aircraft is an investment after all :)
There certainly was a huge depression in the used airplane market in the last years which has pretty much passed by now. Airplanes now will fetch closer to blue book or other reasonable values than they did say 2-3 years ago, when airplanes worth 100k would regularly sell for half or less that in Europe. I notice also that the number of used planes has massively reduced vs 2-3 years ago. There are planes where it is seriously hard to find a reasonable exemplar (Twin Commanche for instance or also C182 RG’s have become pretty rare), so they will automatically fetch higher prices if they are around at all. The makes I regularly watch on planecheck and elsewhere have seen quite some reductions in numbers offered, not too long ago there were e.g. close to 2 pages full of Mooneys whereby now there is one.
I would be careful calling this an investment opportunity however. The same stuff happened during the mortage crisis in the US in 2008 and following, who had money could buy terriffic houses at no money at all (mortages were difficult to get then) which by now have reclaimed their value. It is certainly true that in crisis situations there are opportunities which appear and go away again, this was true in the used airplane market as much as in the housing market and other things in crisis.
As to why there is a recovery one can only speculate. Clearly, the financial crisis is over so people have more confidence in spending money. Also people may be a bit less pessimistic in GA due to the developments in recent years (GA Roadmap, part NCO, ELA1/2 and so on) as opposed to the time when people saw GA on its deathbed due to overregulation.
Prices I see today are what they should have been all the time, panik sales of 40k for a fully IFR Mooney 201 are over: These planes are now back into the 80-100k’s where they belong. Cessna 182’s always have been quite well in keeping prices because there never was a choice of that many available. Generally, sales which made one ask what was wrong when there was not anything wrong with a particular airframe are mostly gone.
So those who still believe they can get a plane massively under value have mostly missed the bus. There still are underpriced planes but not by far as many as there were. The market however these days seems to be slow to learn as quite some offers are now deemed rip offs which are actually quite normal prices. But that is how it plays out.