Buying salvage aircraft

muddy00

muddy00

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muddy00
anyone ever purchased a salvage aircraft from the insurance auction? Just curious how the experience was and how you figured the value of the plane . Looking at one that I need a few pets off of and looking to sell the rest.
 
muddy00 said:
anyone ever purchased a salvage aircraft from the insurance auction? Just curious how the experience was and how you figured the value of the plane . Looking at one that I need a few pets off of and looking to sell the rest.
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Dogs, cats, goldfish or other types of pets? :D

I'd say that it is not a venture for the inexperienced and is best done by someone with a maintenance background on the type of aircraft in question as well as knowledge of the current market.
 
My father bought several salvaged planes. One of which we flew home after a few hours with a hammer and a dolly straightening a Cessna 150 leading edge that had been hit by a prop. While airplane parts can bring big money from someone who needs them, they are bulky to store and can take a long time to sell. We had a 206 left wing for years before ever finding someone who needed it enough to make it worth selling.

With the exception of vintage parts, older aircraft parts do not have a lot of demand. Most people who damage an older "inexpensive" airplane with full coverage insurance end up totaling them out due to the price of parts and labor. There is a small crowd of people who do not have hull coverage who could use the parts. Wear items will likely be replaced with new instead of used since those are likely worn too.

If you do try to get into the market of buying salvage and parting out I would suggest sticking to popular models with cult following.
 
I know an A&P who runs one of the local flight schools. He bought a 172 that wound up on its back during a forced landing following an engine failure. That was eight or nine years ago. He spent a while repairing it, and for years it has been flying almost daily. IIRC, his students and renters have put over 3,000 hours on it with no problems.
 
I have bought parts from a salvage yard. Much cheaper than new, and worth it in some cases.

Tim
 
I've bought airplanes off salvage auctions and bid on many more. My experience has been that the buying process is hit and miss. Airplanes that are in good enough condition to essentially fly away with a little work usually seem to get bid too high, as do the prop strike and fabric covered planes. Complex airplanes and really wadded up metal planes don't seem to bring much value and you're likely only bidding against the salvage yards on those planes.

Pricing wise, do not get so attached to the idea of buying the plane that you overbid it. Look at the major components and their value, and bid that much. Once you sell them you'll have the rest of the plane to make your money off of, which may take years to get.
 
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