Buying a project plane, absolute no-gos?

[Dan Thomas]

That 172 that was $25k 4-5 years ago is now $60k with more hours on it. The artificial inflation due to covid means that there is a potential for profit where there was none before. Problem is you have to BUY at sub-2019 prices.

Which means you should have been buying and storing airplanes before 2019.

The same philosophy applies to stuff like gold, which has also shot up dramatically in recent years. But who among us saw that coming? Who among us thought that a 50-year-old Cessna 150 would sell for $50K+?

 

[Lindberg]

Then you didn't pick the right project. People make money, people lose money, there is no sure thing.

Buying a currently flying aircraft in the final condition you want it in is much closer to a sure thing than buying a hulk and restoring it.

 

[Dan Thomas]

Buying a currently flying aircraft in the final condition you want it in is much closer to a sure thing than buying a hulk and restoring it.

Yes. What so many people don't realize is the amount of time and money required for any restoration work. Like homebuilts, where only about 10% of plans-built airplane projects ever fly ( kitplanes might have somewhat better success rates), most resto projects never get even close to flying. I myself only flew one (the last one) of the three restoration projects I started. There are so many unforeseen hurdles to trip you up.

 

[Salty]

Buying a currently flying aircraft in the final condition you want it in is much closer to a sure thing than buying a hulk and restoring it.

It’s sad, but the market does not reward what Pfarber wants to do. You’re much more likely to get a good deal on an already good plane. Doing the work yourself only makes sense if you value doing the work yourself or if you want something very specific and uncommon.

 

[Bell206]

It’s sad, but the market does not reward what Pfarber wants to do.

The market still will provided one has the necessary experience for a project like this. Even now a person can still make good coin flipping aircraft or parts for profit, just fewer and farther between. However, lacking that experience I think the current market would be rather unkind to a person trying it for the 1st time.

 

[madmurdock]

I would not spend more than 10-15k on a sundowner or musketeer, those even on a good day, are a wanna be Beechcraft, though they carry the name, they are not in the same league as a Bonanza or other legitimate Beechcraft model, imho.

 

[Daleandee]

I would not spend more than 10-15k on a sundowner or musketeer, those even on a good day, are a wanna be Beechcraft, though they carry the name, they are not in the same league as a Bonanza or other legitimate Beechcraft model, imho.

Ever read a book entitled "How to win friends and influence people?"

Curious ...

 

[jbarrass]

Every plane and many cars I’ve owned were projects and worked well. I love the process of bring a sick bird back to life.

To answer the OP question: avoid corrosion on spars; avoid wiring that is rotten; avoid rodent infections.

Stay local, a project in your hangar is way different than one 3 counties away on a tie down.

 

[madmurdock]

i have not read the work referenced, but i will look for it. my remark was not meant to insult, just the truth from my point of view, a 35+ year experienced A&P/IA. i have worked general aviation to standards of 135, 137, 145, and 125. there are planes to avoid and planes that are better than others. all depends on particular circumstances. i am not a hater, i believe aviation should be an attainable goal for anyone whe sets their mind to be in the space. however they want to do it, I apologize if I stepped on anyones toes with my earlier comment.

 

[Half Fast]

I would not spend more than 10-15k on a sundowner or musketeer, those even on a good day, are a wanna be Beechcraft, though they carry the name, they are not in the same league as a Bonanza or other legitimate Beechcraft model, imho.

Your worthless opinion is poorly informed.