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#1
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Prop strike effect on resale value?
Got a general question for the group:
If a used plane is for sale on the market, what effect is a prior prop strike going to have on it's resale value? I haven't found anything on any of the valuation services like Vref that talk about any kind of previous damage. I know it's all in the eye of the beholder, but I'm wondering if there is any presidence in devaluation based on previous damage history. Thanks. |
#2
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Prop strike effect on resale value?
John Doe wrote: Got a general question for the group: If a used plane is for sale on the market, what effect is a prior prop strike going to have on it's resale value? None if the engine was torn down and repaired as necessary. If not then I wouldn't buy it except as a run out. I know it's all in the eye of the beholder, but I'm wondering if there is any presidence in devaluation based on previous damage history. Previous damage history is airplane dependent. For example there's practically no such thing as a Cub that hasn't been rolled up into a ball and rebuilt. They are the most expensive Cubs out there. Same goes for 182's. Everybody knows they are nose heavy and will land on the nosewheel if you let it, causing a wrinkled firewall. That's damage history but if it's fixed right there's no hit on value. I sold my 182 in August and there was no negotiating down for the third firewall my plane had. Take a Cherokee on the other hand and back an elevator or flap or aileron into a hangar and buyers will want a price break. |
#3
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Prop strike effect on resale value?
"Newps" wrote in message ... John Doe wrote: Got a general question for the group: If a used plane is for sale on the market, what effect is a prior prop strike going to have on it's resale value? None if the engine was torn down and repaired as necessary. If not then I wouldn't buy it except as a run out. I know it's all in the eye of the beholder, but I'm wondering if there is any presidence in devaluation based on previous damage history. Previous damage history is airplane dependent. For example there's practically no such thing as a Cub that hasn't been rolled up into a ball and rebuilt. They are the most expensive Cubs out there. Same goes for 182's. Everybody knows they are nose heavy and will land on the nosewheel if you let it, causing a wrinkled firewall. That's damage history but if it's fixed right there's no hit on value. I sold my 182 in August and there was no negotiating down for the third firewall my plane had. Take a Cherokee on the other hand and back an elevator or flap or aileron into a hangar and buyers will want a price break. http://tinyurl.com/b7zlc The comparable aircraft are $40K or so higher. |
#4
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Prop strike effect on resale value?
http://tinyurl.com/b7zlc The comparable aircraft are $40K or so higher. Seems odd that for an aircraft in that price range, where the market is national and not local, if the owner knew the plane would go on the market, he would choose to have the repairs done by a shop without a national reputation. [Sorry for that tortured sentence. Where's my editor?] |
#5
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Prop strike effect on resale value?
John Doe wrote:
Got a general question for the group: If a used plane is for sale on the market, what effect is a prior prop strike going to have on it's resale value? It depends. How long ago? Was the prop overhauled? Replaced? Engine overhauled? I don't think you'll find a cut-and-dried answer. It just comes down to what else is available, at what price, and what the seller and buyer are willing to do. I haven't found anything on any of the valuation services like Vref that talk about any kind of previous damage. For something like that, skip the freebie evaluation services. Pay ~$20 and get a valuation from http://www.aeroprice.com I know it's all in the eye of the beholder, but I'm wondering if there is any presidence in devaluation based on previous damage history. Whether there are any precedents? |
#6
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Prop strike effect on resale value?
Seems like the value changes for 5 years. After that, no effect.
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#7
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Prop strike effect on resale value?
I'd be concerned about what else was damaged. If there was a prop
strike, was there firewall damage. If so, was it repaired correctly. Also, field rebuilds are a bit iffy. Repairs completed by Steve's Aircraft. Who is Steve? Just what did he really do? How many hours since the rebuild. Is all well? If all is well and everything checks out (COMPRESSION check), oil burn, filter clean, then yeah, ok. Like the others say, after a bit of time, the devaluation goes away. |
#8
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Prop strike effect on resale value?
As others have stated, you need to follow the engine manufacturer's
instructions following a prop strike or "sudden engine stoppage". Usually this calls for inspection of the crank runout at a minimum. Some call for engine teardown and magnafluxing parts. Still other engines require replacement of certain parts like counterweights, camshaft gears/bolts and other timing gears. I believe it depends on the make and model of the engine, although others more familiar with this can chime in. As the fleet ages, trainers especially can be expected to have SOME damage SOMEWHERE in their history. Proper repairs (as evidenced through documentation and inspection) and time appear to mitigate any devaluation. My '74 Cherokee 140 did a ground loop in 1975 at 398 hours since new. Tore down engine, inspected/replaced all the necessary stuff, replaced the flaps, stabilitor, and an outer wing skin. Spars checked O.K. All replacements and skin work flawless (as inspected by several wrenches over the years). I now have 2600 hours on it. Will I take one penny off for a 30 year old repair that is invisible, one whole engine ago, and has withstood the test of time. Nope. And I will have PLENTY of other buyers who will snap it up if someone insists on a lower price for the damage history. Now, a recent prop strike, that is another matter. The opportunity for hidden or latent damage is quite a bit greater. Eliminate the engine (via overhaul or replacement), overhaul/inspect the prop, and inspect the rest of the bird and you probably won't care as much. Don't do those things and I would personally consider the engine and prop as trash. I would still insist on a careful inspection of the rest of the bird. Others may disagree, but it is your money and risk. Good Luck, Mike |
#9
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Prop strike effect on resale value?
Mike Spera wrote:
As others have stated, you need to follow the engine manufacturer's instructions following a prop strike or "sudden engine stoppage". Usually this calls for inspection of the crank runout at a minimum. Some call for engine teardown "Some" includes both Lycoming and Continental. |
#10
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Prop strike effect on resale value?
A recent AD forces the owners of Lycomings to take any sort of
propstrike seriously, as the bolt that holds the gear on the back end of the crank tends to fail or loosen during a sudden RPM drop. I wonder if Lycoming will design the next engine with some different means of retaining that gear... Here's the AD text. Note Lycoming's definition of "prop strike." Dan 2004-10-14 Lycoming Engines (formerly Textron Lycoming): Amendment 39-13644. Docket No. 89-ANE-10-AD. Supersedes AD 91-14-22, Amendment 39-6916. Effective Date (a) This AD becomes effective June 25, 2004. Affected ADs (b) This AD supersedes AD 91-14-22. Applicability (c) This AD applies to Lycoming Engines (formerly Textron Lycoming), direct-drive reciprocating engines (except O-145, O-320H, O-360E, LO-360E, LTO-360E, TO-360-E, O-435, and TIO-541 series engines). Unsafe Condition (d) This AD results from a change to the definition of a propeller strike or sudden stoppage. The actions specified in this AD are intended to prevent loosening or failure of the crankshaft gear retaining bolt, which may cause sudden engine failure. Compliance (e) Compliance with this AD is required as indicated before further flight if the engine experiences a propeller strike after the effective date of this AD, as defined in paragraphs (i) and (j) of this AD. (f) Inspect, and if necessary repair, the crankshaft counter bored recess, the alignment dowel, the bolt hole threads, and the crankshaft gear for wear, galling, corrosion, and fretting in accordance with steps 1 through 5 of Lycoming Mandatory Service Bulletin (MSB) No. 475C, dated January 30, 2003. (g) Remove the existing gear retaining bolt and lockplate from service, and install a new bolt and lockplate, in accordance with steps 6 and 7 of Lycoming MSB No. 475C, dated January 30, 2003. Prohibition of Retaining Bolt and Lockplate (h) Do not install the gear retaining bolt and lockplate that were removed in paragraph (g) of this AD, into any engine. Definition of Propeller Strike (i) For the purposes of this AD, a propeller strike is defined as follows: (1) Any incident, whether or not the engine is operating, that requires repair to the propeller other than minor dressing of the blades. (2) Any incident during engine operation in which the propeller impacts a solid object that causes a drop in revolutions per minute (RPM) and also requires structural repair of the propeller (incidents requiring only paint touch-up are not included). This is not restricted to propeller strikes against the ground. (3) A sudden RPM drop while impacting water, tall grass, or similar yielding medium, where propeller damage is not normally incurred. (j) The preceding definitions include situations where an aircraft is stationary and the landing gear collapses causing one or more blades to be substantially bent, or where a hanger door (or other object) strikes the propeller blade. These cases should be handled as sudden stoppages because of potentially severe side loading on the crankshaft flange, front bearing, and seal. |
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