Who to talk to....

Aztec Driver

Aztec Driver

Line Up and Wait
Joined
Mar 7, 2005
Messages
982
Location
Elizabethtown, PA
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Display name:
Bryon
and how do you determine the scrap value of an airplane?

I have heard that the individual parts from my Aztec would likely be worth more than the insurance payout, but am not really sure. Who does one talk to and what is involved in selling the airplane for parts? Are there places that buy the airplane and dismantle it for parts? Do I have to have an A&P dismantle it and sell each of the parts , say on EBAY? I'd like to get the most out of it that I can, but I don't think I want to wait for years to get it. Any other suggestions ou there?
 
The insurance company (Avemco) totaled mine, came and got it, took it to St. Louis, and auctioned it off. They gave me a chance to bid on it at the auction. Several of the local pilots wanted my engine, but not bad enough to buy the whole airplane and bring it back home.
 
Bryon. Do you really want to scr*w around parting out an airplane? Are you really willing to take the risk if the parts don't add up to what the insurance company will give you? Get rid of it and move on to that King Air. :)
 
Anthony said:
Bryon. Do you really want to scr*w around parting out an airplane? Are you really willing to take the risk if the parts don't add up to what the insurance company will give you? Get rid of it and move on to that King Air. :)
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That's why I asked Anthony. I really don't want to fool around, on the other hand, I want to make sure we get as much as we can.

While I am dreaming, why stop at a King Air? Why not just go on to the Lear?
;)
 
It will be interesting what the experts have to say. Lear? Cool.
 
I think Anthony is right, most airplanes I've had were worth more in parts than if I sold them whole. Problem is, converting the bits and pieces into cash.
You can advertise (there goes some off the top) individual components and hope someone will buy them in a timely fashion,....but you could also be stuck with a bunch of parts no one seems to want and you have to store them out of the weather in the meantime or they will deteriorate.
With a sale to a salvage yard or just letting the insurance co pay you for it, you get a (smaller) payout, right away but with less risk and worry.
 
Let'sgoflying! said:
I think Anthony is right, most airplanes I've had were worth more in parts than if I sold them whole. Problem is, converting the bits and pieces into cash.
You can advertise (there goes some off the top) individual components and hope someone will buy them in a timely fashion,....but you could also be stuck with a bunch of parts no one seems to want and you have to store them out of the weather in the meantime or they will deteriorate.
With a sale to a salvage yard or just letting the insurance co pay you for it, you get a (smaller) payout, right away but with less risk and worry.
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You can't have your cake and eat it too. Time and money are often incompatible.
 
One of the problem in selling off the parts is having the paperwork to cover them. This would require copies of logbooks and yellow tags showing time on each part and where they came from.

It is better to let the insurance company sell the aircraft. If the insureance takes the aircraft make sure and notifiy the FAA by taking your name off the registration. If you keep the aircraft and sell the parts again remove the N-number and de-registry it.

Stache
 
Aztec Driver said:
and how do you determine the scrap value of an airplane?

I have heard that the individual parts from my Aztec would likely be worth more than the insurance payout, but am not really sure. Who does one talk to and what is involved in selling the airplane for parts? Are there places that buy the airplane and dismantle it for parts? Do I have to have an A&P dismantle it and sell each of the parts , say on EBAY? I'd like to get the most out of it that I can, but I don't think I want to wait for years to get it. Any other suggestions ou there?
Click to expand...

There are quite a few airplane salvage yards around the country that buy damaged aircraft at auction. Dodsen and White Industries are two I'm familiar with as they are big into Beechcraft. I would imagine that either (or both) could give you a fair estimate of what your plane is worth to them. That figure won't be what you could get for selling all the pieces, as that takes time and money to do, but it should be close to what the insurance company could get (the insurers know better than trying to part out an aircraft themselves).

I'm also puzzled by your interest in this. If your plane is totalled by the insurer, you won't own the remains, that goes to the insurer. If they've offered to repair it, you could take the money and sell the airplane in pieces, repaired, or as-is, but typically none of those options are all that attractive. If they total it, you probably have a option to bid on the remains, but chances are you won't come out ahead by taking it back unless you need a "project".
 
What Lance said.

Also, if you part out the aircraft, you will be assuming a tail of liability for each and every part you sell, and will always be just one boneheaded VFR-into-IMC accident away from being named defendant in a chicken-dirt lawsuit by opportunistic plaintiffs' lawyers.
 
SCCutler said:
What Lance said.

Also, if you part out the aircraft, you will be assuming a tail of liability for each and every part you sell, and will always be just one boneheaded VFR-into-IMC accident away from being named defendant in a chicken-dirt lawsuit by opportunistic plaintiffs' lawyers.
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OK OK I get the picture. That's why I asked, so I could learn. I am thankful that I am not real experienced in this, as that would mean I 've done it too often.

"chicken-dirt lawsuit?"
 
Aztec Driver said:
OK OK I get the picture. That's why I asked, so I could learn. I am thankful that I am not real experienced in this, as that would mean I 've done it too often.

"chicken-dirt lawsuit?"
Click to expand...
....what Spike said..... sigh.
 
I know some people with a perfectly good, flying helicopter, completely legal and FAA certified, in annual etc. and they are talking about selling it for SCRAP because they are afraid of the liability if they sell it whole.
So far they are paralyzed, because their advisors are also worried about the parts liability issue!!

Is there no legal way to avoid liability?

"These parts sold as scrap, no warrantee, no guarantees, you assume all responsibility for airworthiness etc. Sign here............................"
 
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