Trade a twin for a single - thoughts on where to look?

[k9medic]

Several years ago, I sold my Cherokee 6 and bought a C310Q for half of what I sold the Cherokee 6 for. At the time, I was needing something faster and the twin hit the mark. Since then, I partnered in a C421C, so speed and comfort has risen to the top, thought I still have my C310Q.

In December of last year, we found a cracked in the case of the 310 and the wait and cost for an overhaul with a case was just not going to work out. My mechanic found a nice mid time take off engine with a fresh top overhaul that we could put on immediately, so I went that route.

During all of this, I was approached by some students who rent one of my single engine planes to see if I had contacts for a safe, and affordable HP/complex single where they could get their HP and complex sign offs for their commercial rating. I rent the single engine 4 place training plane for $75/ hour dry. It has a 430W and an AV-30 in it, but nothing too fancy.

This got me to thinking...

I do not really need a second twin engine airplane now (for that matter, do I really need 3 airplanes) so I am debating trading the C310Q for something like an Arrow, Comanche or a Mooney. I looked into insuring the C310Q for multi instruction but that price went through the roof!

Normally I would not even consider a trade but my CPA says it would be better in the long run for the rental program that I have set up.

Questions I have asked myself, that I now ask of the group:

1. Do people ever have luck with trading planes?
2. I'm not too worried about losing $$ in my twin as I have had good depreciation and would consider it a wash as a trade.
3. Is MOSAIC going to crush the twin market like the insurance company and Basic Med did or is MOSAIC actually beneficial?

 

[Doc Holliday]

310's with run out engines are essentially salvage value. You may find a trade but you will have to put up the 310 plus $$$ to make it happen.

 

[k9medic]

310's with run out engines are essentially salvage value. You may find a trade but you will have to put up the 310 plus $$$ to make it happen.

Looking at the comps that are out there, I'm thinking it's probably in the $85-90K range with the engines.

AOPAs new VREF program is stupid when you use that. It values the 310 at over $150K which we all know is not right.

 

[Doc Holliday]

Looking at the comps that are out there, I'm thinking it's probably in the $85-90K range with the engines.

AOPAs new VREF program is stupid when you use that. It values the 310 at over $150K which we all know is not right.

85 to 90 is extremely optimistic. Put it for sale at that price, the market will determine the actual value.

 

[k9medic]

Looking on Controller, there is only one 310Q for sale. It is listed at $185K! Outside of the Aspens and the STEC autopilot, it has almost identical engine times as mine.

There are 5 on TAP. The cheapest is listed at $75K and the highest is $369K LOL

 

[FORANE]

You'll have a hard time finding the plane you want from the guy who also wants what you have to sell. Consider a Starker exchange.

 

[schmookeeg]

I know friends who have done trades. It's basically (difficulty of selling a plane) squared since you need to limit the buyer pool to buyers who are also selling a thing you want.

 

[eman1200]

phew, good thing I didn't jump on that 310!

 

[k9medic]

You'll have a hard time finding the plane you want from the guy who also wants what you have to sell. Consider a Starker exchange.

The 1031 echange no longer applies after 2017. I got caught with my pants down when I sold my 6. I not only bought the 310 but a second plane with the proceeds. Thought it applied. Found out after the fact that it did not and had to fully depreciate the smaller plane the same year!

phew, good thing I didn't jump on that 310!

It's even better now! One engine is 1000 hours less than it was! LOL

 

[flyingcheesehead]

I am debating trading the C310Q for something like an Arrow, Comanche or a Mooney.

Hmmmmm.

You have my attention...

I love my Mooney but I have two boys who are going to be getting a lot bigger, and we already are packed in pretty tight and have to leave fuel behind on family trips.

Only thing that's stopping me from selling it is that I know that when the boys are grown up and out of the house, I'm gonna want it back! 175 KTAS on 12gph, so I can beat the airlines anywhere east of the Rockies at a cost per mile lower than a 172. It is just a fantastic, efficient traveling machine.