question about buying a '60s era plane with some missing logs

[rbridges]

I'm looking at a piper 140. mid-60s model but logs missing prior to '81. It looks like the ADs and engine OH are documented. If the plane looks good with prebuy inspection, how much hit would you think the logs are worth? Someone told me 30% but that seems high. I just want a fair price for buyer and seller.

 

[JHW]

if you are the buyer, why do you care of the seller's price is "fair" ?

it probably doesn't metter in the least to the actual use of the plane, but cherokees are a dime a dozen and anyone you sell it to down the road is going to be asking the same question. Why not keep looking unless you can get it really cheap ?

 

[rbridges]

if you are the buyer, why do you care of the seller's price is "fair" ?

it probably doesn't metter in the least to the actual use of the plane, but cherokees are a dime a dozen and anyone you sell it to down the road is going to be asking the same question. Why not keep looking unless you can get it really cheap ?

I've been looking at classifieds for quite a while. they are all over the place, but this one is spec'd out with a decent panel, fairly recent paint and interior and lower engine hours.

 

[wabower]

The hickey can't be a lot of money, simply because the airplane can't be worth much anyway it today's market. Have you looked at the FAA package to determine if any records are included that would provide any help in determining reasonableness of reported times and usage? I'd try to buy it cheaper than the hypthetical plane with all logs, but wouldn't get all wadded up about it.

I've been looking at classifieds for quite a while. they are all over the place, but this one is spec'd out with a decent panel, fairly recent paint and interior and lower engine hours.

 

[comanchepilot]

Are the missing logs from 1965 or are they from 2005? So ALL the logs from pre-1981 are missing? Do you have a post 1981 AW certificate? Then you are ok with what you have.

I'd be absolutely anal about the paper work. I'd also pay someone to do a comprehensive lien check . . .

How can you be 100% certain that all of the AD's have been done -and prior repairs done iaw the manual?

I would not buy such an airplane with out an annual inspection as my pre-buy and a written certification that the AD's have been completed. If significant panel work was done and you now have a certified GPS - you absolutely require the log book entries on the install and certification for IFR use - if not - you need to pay for it to be done again.

You need to be able to document repairs and installs done that are physically present on the airplane were done iaw with manuals or install guides etc etc.

If you think you can do that with what you have - then you have an airworthy aircraft. . .

 

[Tony_Scarpelli]

I've been looking at classifieds for quite a while. they are all over the place, but this one is spec'd out with a decent panel, fairly recent paint and interior and lower engine hours.

I'd say $12k maybe 15k max assuming it passes a full annual and IR inspection contingent with purchase.

 

[Silvaire]

...If significant panel work was done and you now have a certified GPS - you absolutely require the log book entries on the install and certification for IFR use...

It's not possible for an IFR certified GPS to have been installed prior to 1981 - or even a non IFR certified GPS for that matter.