The plane evaluators tend to quote values that are way overpriced, much
like the "retail" price of cars.

Planes are worth what someone will pay for them. Unfortunately, there
are many buyers like your "former" self who have credit and no
information. They fall in love with the thought of owning an airplane
and just go out and buy one. This is tending to keep prices much higher
than they should be. The limited supply makes the problem worse.

Using a little trick I call "math", I figure a runout that is worth say,
$50k ready to go (with a fresh engine) and costs $20k for a complete
overhaul is only worth $30k. That concept seems lost on runout sellers
who price their planes as if they had fresh or mid time engines.

Sadly, if you really shop around, do your homework, have the planes
carefully inspected, and offer a fair price, chances are good that some
fool with more money than brains will buy it up from under you.

As I said, many owners are under the mistaken impression that they have
some God given right to buy an airplane at an inflated price, run it
out, and then make a tidy sum selling it. On the other side of the coin,
there are many, many tire kickers out there who don't have a clue about
how they will get the money for an airplane but insist on pulling
everyone's chain posing as prepared buyers.

Perhaps the current market slowdown will bring the overly optimistic
owners down to earth. 28 grand for a runout 150? Yeah, right.

Good Luck,
Mike


I am returning to aircraft ownership after 15 years. the other day, I
was looking to purchase an airplane that I saw advertised. The price
and features looked real good, EVERYTHING i wanted!! except it had a
run out engine. over 2100 hrs.

they we're asking about $ 28,000 for the plane (cessna 150 with all the
bells) I thought the price was good??? was actualy going to purchase
the plane. I called the seller and we spoke a bit on the phone. told
them I was VERY intrested and would give an offer.

Putzing around last night, surfing the web I found out about AOPA's
Vref and NAAA evaluator. Just for FUN I entered the information on
the plane for $ 28,000

WOW!!!!!!!!!!!!!!!!! the airplane was only ( V ref & NAAA) worth $
12, 500 to 13,500 bucks! the run out engine hurt the value of the
plane big time !