Looking at a 1964 172

edessa

edessa

Pre-takeoff checklist
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Mar 4, 2014
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Highland Heights, OH
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edessa
Looking at a 1964 172E. Had last annual in Nov 2007 and hasn’t flown since. Has been in a hangar since that annual.
Asking price is $20K as is without an annual.
Airframe has 6400 hours. Lived up and down the East coast. It was a parachute drop plane at one point with the right door removed.
Original avionics with an addition of an old Garmin GPS that had the small green/black screen.
Engine is O300-D and has 10900 hours since new and 1150 hours SMOH. Engine cylinders have corrosion. Don’t know condition of cam and crank. It does fire up and runs good. Low oil pressure at idle but normal at power.
Most of the windows have crazing, a couple pretty bad.
Tires were flat. They serviced them with air and they are holding.
Missing carpet.
Fuel system was flushed, new battery installed, carburetor needle was replaced.
All logbooks accounted for.
What do you think a good offer would be considering the engine may need to be overhauled or replace 6 cylinders at a minimum?
 
If you were given the thing as-is for free, after bringing it to a semi-reasonable condition based on everything you noted, you could probably sell it at a $10k+ loss. :D
 
I was thinking of offering $10K. Just found out that it was bought at a sheriff auction and was on a lien. It sold at auction for just under $5900. They want $20K to cover the lost hangar rent the last 9 years. The nice thing is that I'm and A&P/IA and will do the work my self. Looking to buy it with two others in a partnership.
 
This one is a hole to pour money into. A much bigger and deeper hole than usual. $20K is about $25K too much.
 
If you have money sitting around and you like a challenge and you are perfectly ok with losing a sizable chunk of your money, go for it.
 
Maybe if it was a 172XP or a 180hp, but a o300, ex DZ plane, strange history, I'd just keep on moving, plenty of 172s out there.
 
Anyone have an opinion on what the scrap value might be?
 
Walk from that one, there are plenty of older 172's for a lot less mid 20's to low $30,000's, did I read that right 10,000 hrs on the engine?? SNEW
scrap value about $42.33
 
NoHeat said:
Sometimes, instead of buying something, it would be better to just rake your money into a pile and burn it.
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LOL. Somebody said something like to me once when I was going to get a swimming pool put in. "Dude, just go dig a hole in your back yard and throw your money into it"
 
edessa said:
I was thinking of offering $10K. Just found out that it was bought at a sheriff auction and was on a lien. It sold at auction for just under $5900. They want $20K to cover the lost hangar rent the last 9 years. The nice thing is that I'm and A&P/IA and will do the work my self. Looking to buy it with two others in a partnership.
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That helps. How much time do you have to devote to it? Your partners could be getting a real deal.
 
Give yourself enough room for unexpected surprises. There could be several hidden issues between now and 2007. You can always lowball them and see what they say, but I'd say no more than 14,500.
 
Forget the bozos and wannabee experts on this thread. This isn't a cream puff, nor is it a junker. But I do have a question. If you are an A&P/IA why are you on this thread asking for an opinion? An IA with even minimal experience should know what is necessary to get this airplane to whatever level of acceptable you prefer. Why?

Jim
 
Keep in mind nice O-300 172s (nice, not pristine and not turds) are probably selling with asking prices around $30k. They want to make back their lost hangar rent, but why the hell is that our problem? Who here adds the hangar rent they've paid to the value of their plane? They sound a bit delusional.

For a few grand more than they are asking, get decent paint and interior, a recently overhauled engine, and newer (70s digital radios) instruments.
 
strangebird said:
Walk from that one, there are plenty of older 172's for a lot less mid 20's to low $30,000's, did I read that right 10,000 hrs on the engine?? SNEW
scrap value about $42.33
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That's BS, at 10,000 hours the only thing left in the engine is the data tag.
It possibly could be all new and the time continues.
 
edessa said:
Looking at a 1964 172E. Had last annual in Nov 2007 and hasn’t flown since. Has been in a hangar since that annual.
Asking price is $20K as is without an annual.
Airframe has 6400 hours. Lived up and down the East coast. It was a parachute drop plane at one point with the right door removed.
Original avionics with an addition of an old Garmin GPS that had the small green/black screen.
Engine is O300-D and has 10900 hours since new and 1150 hours SMOH. Engine cylinders have corrosion. Don’t know condition of cam and crank. It does fire up and runs good. Low oil pressure at idle but normal at power.
Most of the windows have crazing, a couple pretty bad.
Tires were flat. They serviced them with air and they are holding.
Missing carpet.
Fuel system was flushed, new battery installed, carburetor needle was replaced.
All logbooks accounted for.
What do you think a good offer would be considering the engine may need to be overhauled or replace 6 cylinders at a minimum?
Click to expand...

Some one is full of crap as a christmas turkey, MA3-SPA carbs don't have needles.
The oil pressure is allowed to be 5 PSI at idle.

IF ---- the airframe is corrosion free it might make a project for an engine upgrade. for a A&P-IA. but you gotta buy it cheap.
 
weirdjim said:
Forget the bozos and wannabee experts on this thread. This isn't a cream puff, nor is it a junker. But I do have a question. If you are an A&P/IA why are you on this thread asking for an opinion? An IA with even minimal experience should know what is necessary to get this airplane to whatever level of acceptable you prefer. Why?

Jim
Click to expand...

That was the first thing that crossed my mind when I saw that too. Why bother asking a bunch of people, most of whom are not in the same position, to assess the condition and estimate repair costs and expect accurate answers/opinions?
 
mondtster said:
That was the first thing that crossed my mind when I saw that too. Why bother asking a bunch of people, most of whom are not in the same position, to assess the condition and estimate repair costs and expect accurate answers/opinions?
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a troll?
 
Tom-D said:
Some one is full of crap as a christmas turkey, MA3-SPA carbs don't have needles.
Click to expand...

Float needle valve. Probably an incorrect term for that valve.
 
weirdjim said:
Forget the bozos and wannabee experts on this thread. This isn't a cream puff, nor is it a junker. But I do have a question. If you are an A&P/IA why are you on this thread asking for an opinion? An IA with even minimal experience should know what is necessary to get this airplane to whatever level of acceptable you prefer. Why?

Jim
Click to expand...
Because there is always someone with more experience than me out there. As an A&P/IA I do not have the knowledge of the market of used aircraft. I am not a broker.
 
I just signed up for trade a plane and they have an appraisal on their website enough to give me a clue.
Thanks for all the help.
 
Asking $20k???? Mine sold for $25k in working condition, not sitting, no corrosion, garmin 430, etc.

If the hangar comes with it, $20k, otherwise, $5k.
 
weirdjim said:
Forget the bozos and wannabee experts on this thread. This isn't a cream puff, nor is it a junker. But I do have a question. If you are an A&P/IA why are you on this thread asking for an opinion? An IA with even minimal experience should know what is necessary to get this airplane to whatever level of acceptable you prefer. Why?
Jim
Click to expand...
Maybe he's mostly a sparky (or something), too.
 
They want you to pay for the hangar for them keeping the plane since 2007?! They should have considered to sell the plane years ago to cut their losses. Asking the buyer to pay for the hangar is an interesting approach though... o_O:rolleyes::D If they wouldn't sell the plane for what it's true value, I personally would walk.

Gitmo, congrats on selling your C172!
 
Jimmy cooper said:
It's beer can material. If this fellow is an AI he should not be asking.
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Show me a IA that knows every thing about all aircraft, I'll show you a danger to us all.
 
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