Someone is going to lose their shirt on this restoration

Zeldman said:
I once sunk 40K building a race car that would win a maximum of 625 bucks on a race night.
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I talked to a Chump Car team one time about the cost of getting into the competitive side of the hobby, compared with driving my 911 at HPDE events just for fun. For those unaware, Chump Car is an amateur endurance racing series where the value of your car must not exceed $500. (There is actually a value points system that skews this and safety equipment does not count, but we are still talking 25-year-old Mazda Miatas at the high end.) They had over $30,000 into their car and weren't done yet.
 
Maybe he looked at what AOPA was selling their "Reimagined" Cessna 150/152's for and thought 90K for a 140 would be seen as a killer deal?
 
I was thinking that every home building project has the same problem; the plane you end up with is not worth what you put into it. Certainly the labor is never recovered. On the other hand there’s the pleasure of building, a pleasure that is quite real. There’s the satisfaction of getting perhaps exactly what you wanted or at least something that no one else has. There’s the performance and the lower cost of ownership particularly if you’re doing your own wrenching. In any case it seems that making a profit is a fools errand.

Personally that’s all worked well for me. I got what I wanted, I can afford to fly as much as I want, and the total experience is one of the best in my life. But I wouldn’t go around doing videos showing you that it’s something that perhaps you should do.


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It makes sense if you're never planning on selling the plane. My Skywagon for example, it was one I could (barely) afford so it's not perfect, but it flies and is mechanically sound. I'm going to have to put ~50k into it for paint, interior and panel. Not to mention a new engine and prop at some point, but to me it's worth it. I'll have a plane that is truly "mine" by the end of all of the upgrades. Of course I'd never make my money back if I sold the plane... but I certainly don't plan on doing that ever.
 
Bill Watson said:
I was thinking that every home building project has the same problem; the plane you end up with is not worth what you put into it. Certainly the labor is never recovered. On the other hand there’s the pleasure of building, a pleasure that is quite real. There’s the satisfaction of getting perhaps exactly what you wanted or at least something that no one else has. There’s the performance and the lower cost of ownership particularly if you’re doing your own wrenching. In any case it seems that making a profit is a fools errand.

Personally that’s all worked well for me. I got what I wanted, I can afford to fly as much as I want, and the total experience is one of the best in my life. But I wouldn’t go around doing videos showing you that it’s something that perhaps you should do.


Sent from my iPad using Tapatalk Pro
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It goes back to the adage that's true about this and so many other hobbies:

Q: How do you get a small fortune out of restoring aircraft?
A: Start with a large one.
 
Mtns2Skies said:
It makes sense if you're never planning on selling the plane. My Skywagon for example, it was one I could (barely) afford so it's not perfect, but it flies and is mechanically sound. I'm going to have to put ~50k into it for paint, interior and panel. Not to mention a new engine and prop at some point, but to me it's worth it. I'll have a plane that is truly "mine" by the end of all of the upgrades. Of course I'd never make my money back if I sold the plane... but I certainly don't plan on doing that ever.
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For that one of a kind touch to truly make her yours, you should check out my father’s business down in Florida. He’s been doing paint and interior refurbishment for over 40 years and holds the Wright Brothers Master Pilot and a Charles Taylor Master Mechanic awards! Look up Highlands Aviation, Inc. Over the years he’s worked on everything from a P51D to a Gulfstream.
 
Watched the video. Aside from the paint, is a beautiful plane. Paints ok, doesn’t appear stellar tho.

I was wondering if perhaps he wasn’t wanting to actually keep it himself. Someone mentioned building the plane you want. Maybe he did that.
 
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