I'm considering a cosmetically challenged (IMO it needs covering) but airworthy Chief with a slightly over mid-time 65 horse engine. The interior is in usable, but not pretty shape. No electrical system. No McDowell starter. No wheel pants.
What is a realistic range of values on this airplane?
1946 Chief Value
Realistic?? Sport Pilot has increased Champs and Chief value $5-8,000. I could have sold mine for $20,000 but she has become part of the family and can't let her go for less than $22,000. Barnstormers has several for sale in the $15,000 range.
Very few will have electrical, pants or McDowell starter.
Very few will have electrical, pants or McDowell starter.
Thanks for the input. Saw your airplane at Osh, and would have been very interested if I wasn't intent on finding an airplane I can restore the way I want it. Yours is much too nice to pull apart for re-covering, etc...SFC Hiatt wrote:Realistic?? Sport Pilot has increased Champs and Chief value $5-8,000. I could have sold mine for $20,000 but she has become part of the family and can't let her go for less than $22,000. Barnstormers has several for sale in the $15,000 range.
Very few will have electrical, pants or McDowell starter.
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flyingfool
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What it is worth and what a current owner will sell if for are two different things. Especially when a recover and other items need repair or replacement.
you may want to figure what you believe the airplane will be worth when you finish your restoration. Then subtract the costs you estimate to do the things you want. When you do that, you will probably come to a number the current owner is not willing to accept. Probably less than $12,000. So you may have to bite the bullet and pay more and accept that you will end up with the plane you want in a condition you want. If this takes a few years to accomplish, the "additional premium" you pay now will ease and be forgotten for the most part.
As a new aircraft owner, and in my research I have come to the conclusion that buying an aircraft is NOT logical and is not necessarily a financial numbers kind of thing. It is very much like deciding to have kids based upon the idea of being able to afford it. Face it. You'll never be able to justify financially buying a plane or having children.
It is an emotional and a desire or passion that drives buying a plane or having kids.
My final recommendation. Jump in! The waters fine!
you may want to figure what you believe the airplane will be worth when you finish your restoration. Then subtract the costs you estimate to do the things you want. When you do that, you will probably come to a number the current owner is not willing to accept. Probably less than $12,000. So you may have to bite the bullet and pay more and accept that you will end up with the plane you want in a condition you want. If this takes a few years to accomplish, the "additional premium" you pay now will ease and be forgotten for the most part.
As a new aircraft owner, and in my research I have come to the conclusion that buying an aircraft is NOT logical and is not necessarily a financial numbers kind of thing. It is very much like deciding to have kids based upon the idea of being able to afford it. Face it. You'll never be able to justify financially buying a plane or having children.
It is an emotional and a desire or passion that drives buying a plane or having kids.
My final recommendation. Jump in! The waters fine!