Value of a 172M

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Traket92X

Pre-takeoff checklist
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Traket
I know someone who is looking to sell/trade their 1973 172M for something nicer (older Cirrus likely). That plane is in fantastic shape and has better avionics than I have seen in anything short of a G1000 172 (Spent $55k in avionics). He has put far more into it that he will get out of it and he knows it so that isn't my question.

My question, is what would be the most you would ever consider spending on an 'older' 172? You can assume it is in as nice of condition as you like with as nice of avionics you can put in it. I know at some point, a 172 is still a 172 and won't be cruising like a Mooney so at some dollar figure, most people will want better speed and useful load that this can provide.
 
Traket92X said:
I know someone who is looking to sell/trade their 1973 172M for something nicer (older Cirrus likely). That plane is in fantastic shape and has better avionics than I have seen in anything short of a G1000 172 (Spent $55k in avionics). He has put far more into it that he will get out of it and he knows it so that isn't my question.

My question, is what would be the most you would ever consider spending on an 'older' 172? You can assume it is in as nice of condition as you like with as nice of avionics you can put in it. I know at some point, a 172 is still a 172 and won't be cruising like a Mooney so at some dollar figure, most people will want better speed and useful load that this can provide.
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:needpics:
Plus without specifics on avionics and hours it would be impossible to pull a number out of a hat
 
As pointed out it depends a lot on condition, engine times, and just what avionics are installed.

It could be worth $150K, it could be barely worth $30.

Does he get complimented on his instruments?
 
Threefingeredjack said:
:needpics:
Plus without specifics on avionics and hours it would be impossible to pull a number out of a hat
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If possible, I'm not looking for an evaluation on this exact plane but I can do that if requested. I just always thought "I'm looking to sell this plane, what should I price it at" was frowned upon. I can add some MORE 'theoretical' info if that is ok.

Edit: Some 'theoretical' assumptions

Interior:10/10 (does get compliments:wink2:)
Exterior: 9/9 (owner compliments more than others but still very nice)
TTSN: 750 hrs (no extended periods of sitting). About 200 hrs in the last 3 years and 75/80 compressions. During the first 30 years, it was flown often but on few x-c.
STEC 60-2
HSI
430W
GPSS
Garmin SL40 comm
Garmin 327 transponder
GMA 340 audio panel
Air Gizmo mounted 496 w/ XM
Rosen Visors

Cost of Avionics upgrades (no compliments, just :yikes:)
 
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Just the thought of an -M (older or newer :confused: ) --- probably $35k.
Don't particularly like having to "mind" the flap switch until the appropriate setting is established (personal irritant with -M's)
 
oldShar said:
Just the thought of an -M (older or newer :confused: ) --- probably $35k.
Don't particularly like having to "mind" the flap switch until the appropriate setting is established (personal irritant with -M's)
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Personally, I love the Johnson bar on my families 172B and Lance, but I suppose some don't like all that arm work:)
 
If it's as you describe it, I'd look to be paying about $40K. But that's my personal opinion, and based on average airframe time (you never said what it was).
 
onwards said:
If it's as you describe it, I'd look to be paying about $40K. But that's my personal opinion, and based on average airframe time (you never said what it was).
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750 on airframe also.
 
onwards said:
Wait, what? are you telling me this plane only flew 750 since 1973?

Did someone look for rust issues?
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So far no rust has been found and I can be sure the owner has not skimped on maintenance. (You can take from that what you like)

Yes it has only flow 750 since 1973. Until the current owner purchased about 4 years ago, the previous owner would regularly fly a short flight from house to ranch/farm once every few weeks. There was little if any x-c use but it resulted in low hours with lots of flights.
 
Based on the 750 total hours, I am assuming the engine hasn't been overhauled and 39 years is a long time to go between overhauls. The avionics you listed are nice, but aren't spectacular. I like the C172M and own a 1974 C172M in a partnership, but I think you are probably looking at a max of $50k. It has been a few years since I bought mine, so I could easily be off by $10k or more.

Ryan
 
I'd buy in at no more than the resale value of the avionics, 40 years on a lycoming gives me the willies
 
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