Loaded C172P - considering partnership

saulico

saulico

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saulico
Hi All,

A friend of mine is in a 50/50 partnership with a 1974 Cessna 182P. This thing is loaded and they just put in a factory NEW O-470-R76B a few weeks ago (it has about ~30 hours now). The other partner has to leave, and the current partner is considering offering two 1/3 shares.

They've owned it less than a year, and just completed their first annual in November. No squawks except for brake pads. No corrosion found.

I'm having a bit of trouble trying to do a rough assessment of the plane due to the myraid additions. To the best of my knowledge...

1974 Cessna 182P Skylane (TTAF ~5000?)
Newer Paint (2007)
Newer Int. (2007)
FACTORY NEW O-470-R76B installed by LyCon in Visalia, CA

Avionics:
530 WAAS
JPI Engine Monitor (EDM 930)
Aspen EFD1000 PFD
STEC-30
Yoke Mounted Garmin 796
Garmin GTX 327 Transponder
Garmin GMA 340 Audio Panel

Is this plane worth the ~$150k I believe they've got in it or is it too close to "retail" on the upgrades?
 
May I suggest that you offer to pay to get a professional appraisal of the aircraft and offer to pay 1/3 of that for the plane.

In my mind, it's a different negotiation when you'll remain a partner with the current owner. This puts the bad news/good news on a third party and not you.

This gentleman is a frequent poster on the red board. I'm sure he could recommend someone, if he can't do it.

__________________
Mike Simmons
NAAA Senior Certified Aircraft Appraiser (NSCA)
Qualified Buyer's Agent
www.planedata.com
800-895-1382
 
By all means have the aircraft appraised,would also go so far as having a mechanic review the logs.
 
saulico said:
Hi All,

A friend of mine is in a 50/50 partnership with a 1974 Cessna 182P. This thing is loaded and they just put in a factory NEW O-470-R76B a few weeks ago (it has about ~30 hours now). The other partner has to leave, and the current partner is considering offering two 1/3 shares.

They've owned it less than a year, and just completed their first annual in November. No squawks except for brake pads. No corrosion found.

I'm having a bit of trouble trying to do a rough assessment of the plane due to the myraid additions. To the best of my knowledge...

1974 Cessna 182P Skylane (TTAF ~5000?)
Newer Paint (2007)
Newer Int. (2007)
FACTORY NEW O-470-R76B installed by LyCon in Visalia, CA

Avionics:
530 WAAS
JPI Engine Monitor (EDM 930)
Aspen EFD1000 PFD
STEC-30
Yoke Mounted Garmin 796
Garmin GTX 327 Transponder
Garmin GMA 340 Audio Panel

Is this plane worth the ~$150k I believe they've got in it or is it too close to "retail" on the upgrades?
Click to expand...

Even with the nice avionics, I doubt it is worth $150k. Sadly for the owners, improvements don't provide a 100% return on investment.

I second the recommendation to have it professionally appraised. If nothing else, $150k puts you in the 21st century Cessna 172 market, which tends to hold the older Cessnas value down no matter what neat things they have installed.
 
Brad Z said:
Even with the nice avionics, I doubt it is worth $150k. Sadly for the owners, improvements don't provide a 100% return on investment.

I second the recommendation to have it professionally appraised. If nothing else, $150k puts you in the 21st century Cessna 172 market, which tends to hold the older Cessnas value down no matter what neat things they have installed.
Click to expand...

$150k will buy a nice 210...
 
Thanks guys.

The appraisal recommendation is great not only because it establishes a fair price/reality check but I like the fact that it's a 3rd party with no skin in the game.

I'll likely move forward with that option if I want to seriously consider partnership in this airplane.
 
I personally don't see a stock 182P being worth $150K under most circumstances. I understand the avionics upgrades, they are nice, the factory new engine is a big plus, but you can buy a lot of airplane for $150K.:D
If you are interested, get the appraisal done, but make sure they agree to use the appraisal before you waste your money on it. ;)
My Carnack appraisal is $117,400.00 :D If you don't remember Carnack from the Johnny Carson show, you are too young to fly!! :rofl:
 
N747JB said:
I personally don't see a stock 182P being worth $150K under most circumstances. I understand the avionics upgrades, they are nice, the factory new engine is a big plus, but you can buy a lot of airplane for $150K.:D
If you are interested, get the appraisal done, but make sure they agree to use the appraisal before you waste your money on it. ;)
My Carnack appraisal is $117,400.00 :D If you don't remember Carnack from the Johnny Carson show, you are too young to fly!! :rofl:
Click to expand...


Who is Johnny Carson?








Kidding. I think he's from Nebraska.
 
Sounds like a nice plane. Absolutely no way it's worth 150k. Not even close.
 
I agree that it is probably on the high side,
But it does sound like a nice airplane,
and there is value in the fact that as partial owner your risk of unanticipated expenses is reduced by two thirds, as is your anticipated expenses (hangar, insurance, annuals). Of course that is offset by having to share scheduling and putting up with the partner's potential "peculiarities". (Do they always fill up after flying, do they leave personal stuff in ti, do they clean the leading edges when needed (like every flight in Florida)?

Get the appraisal and go from there.
 
I see a 1998 with 914 total time listed for $155k.
 
marcoseddi said:
all people selling these days are asking way tooo much!! for everything
Click to expand...

With so many planes at my airport that basically sit around one would think the market price for used a/c would be lower.
 
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