This is an interesting discussion I would like to see what the consensus
think this AOPA bird is really worth.

The lower powered 112 does not sell as well as the 114 but just a few hours
since SMOH, new paint and nice new interior may have the AOPA birds value up
to around $100,000.
Now add the turbo normalize, and all the fancy new instruments and avionic
glass might add say $50,000.
So I will start the ball rolling and say it will be worth about $150,000 on
the open market.

Incidentally, the AOPA guy who flies it around told me at OSH that it was a
low powered dog and he would prefer his own Comanche !
But it did not have the turbo normalizer on at that point.
I just wish it would come my way !!!

So how far away am I with my valuation of $150,000 ????

--
Roy
N5804F Piper Archer

"I have had some bad landings but I have never missed the runway"


"sfb" wrote in message news:H3Fif.3507$P33.1126@trnddc01...
IRS pub 561 puts the responsibility for the appraisal on you and the IRS
is not obligated to accept the appraisal without question. Despite the
magic of the 1998 act, the taxpayer still retains much of the burden of
burden of proof with regard to fair market value.

"TaxSrv" wrote in message
...
"Ron Natalie"wrote:
I agree with Fred here. In the case of something like
a "New Car" the IRS will consider the value to be the
MSRP. However since this isn't the case, some
acceptable appraisal technique (blue book, etc...) will
apply.

The IRS has no basis in case law to enforce MSRP on a car, and
since IRS examination employees buy new cars, they are well aware
what negotiated prices are. The difficulty with arguing FMV on an
airplane is that they may not accept just one appraisal submitted
by the taxpayer. However, since 1998, IRS will have the burden of
proof on this one, so that settlement in an appeals conference
shouldn't be too difficult.

Fred F.