Hello,
Can anyone point me in a direction to determine the value - price of a 24-C8 ?
We have run across one that was restored in the early 1980's and has sat since 1990. Controlled Environment more or less. Engine has not been run in decades.
The owner has no idea what to ask and has told me to make an offer. I want to be fair. Assuming the condition of the aircraft is fine but needing the engine torn down and checked as well as any rubber and other items that just age from sitting go. I am assuming the aircraft does not require a recovering.
Any help would be appreciated. Thanks, James
Value - Pricing -aircraft sitting for a long time
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FairchildPT19mike
- Posts: 20
- Joined: Wed Dec 18, 2019 2:51 am
Re: Value - Pricing -aircraft sitting for a long time
Jamie Treat might have an idea what the plane might be worth. Contact him at jamietreat397@gmail.com
Mike Kelly
Fairchild Club
Mike Kelly
Fairchild Club
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Maximumsmoke
- Posts: 1
- Joined: Sun Dec 29, 2019 7:00 pm
Re: Value - Pricing -aircraft sitting for a long time
The way I do it is to assess the value of the airplane in the condition I desire, whether that is 1) a functional beater, 2) a go plane but not a show plane, or 3) a show plane restored to new. i.e. What would you (or maybe anyone else) pay for an airplane in one of those 3 conditions or any other condition you have in mind. Then look at the airplane that is for sale -- the one you want to buy. Estimate what it will cost to get it into the condition you desire. Subtract that cost from the value you estimated for the condition you want, and that remainder is the price you should pay, and not more. The truth that results from this exercise can be brutal, but it is the truth for you. This method takes a lot of the emotion out of your choice. Afterward, you don't need to wish you hadn't offered more, or buy it and feel like you got gypped. You made a logical choice based on facts -- at least your facts, the ones you uncovered that suit your own interests. As a matter of fact, you have explored and defined your interests.
By the way, this is also the way I price what I want to sell, and I'm very open with this train of logic with whomever I engage in a transaction, whether as a seller or a buyer. It brings the other side of the negotiation away from emotion and toward logic, if need be. Most owner/sellers are way too emotional about their possessions. It is a typical human thing to over-value our possessions. It seems burned into humanity from the get-go. One example of the consequences of over-valuing possessions is the tendency to throw good money after bad.
By the way, you might find that the price you determine is negative -- that you shouldn't take the airplane if it is given to you! Your desire to still own it is a signal that you might want to re-examine or maybe even change your interests, your motivations, your plans. Do recognize this is an emotional trigger. There's nothing intrinsically wrong with being emotional. Without emotions we could just as well be robots. Just realize what you're doing before you go for it. Also, you can always back out of a plan once you engage in it. It costs you money and time, though -- part of your life. That's the cost of experience. Experience always costs time and often money. However, without experience there is no real life. Should a change in plan become necessary, one should not waste further time and energy kicking one's self about it. If you bite off more than you can chew, spit it out before it chokes you to death. There's a little bit of indignity at first, but it passes. It's more productive and healthy for you to keep your thoughts on what you've learned; you can use that in the future. You've grown, so to speak.
By the way, this is also the way I price what I want to sell, and I'm very open with this train of logic with whomever I engage in a transaction, whether as a seller or a buyer. It brings the other side of the negotiation away from emotion and toward logic, if need be. Most owner/sellers are way too emotional about their possessions. It is a typical human thing to over-value our possessions. It seems burned into humanity from the get-go. One example of the consequences of over-valuing possessions is the tendency to throw good money after bad.
By the way, you might find that the price you determine is negative -- that you shouldn't take the airplane if it is given to you! Your desire to still own it is a signal that you might want to re-examine or maybe even change your interests, your motivations, your plans. Do recognize this is an emotional trigger. There's nothing intrinsically wrong with being emotional. Without emotions we could just as well be robots. Just realize what you're doing before you go for it. Also, you can always back out of a plan once you engage in it. It costs you money and time, though -- part of your life. That's the cost of experience. Experience always costs time and often money. However, without experience there is no real life. Should a change in plan become necessary, one should not waste further time and energy kicking one's self about it. If you bite off more than you can chew, spit it out before it chokes you to death. There's a little bit of indignity at first, but it passes. It's more productive and healthy for you to keep your thoughts on what you've learned; you can use that in the future. You've grown, so to speak.