Buy a damaged airplane

Tom Jackson wrote:

I had a similar story (Piper Warrior):
A previous owner experienced oil failure in the late 80's. Engine seized,
had to put down in a parking lot. On rollout, hit a car with one wing.

Wing was replaced, engine was replaced. Didn't bother me one bit. My
pre-purchase A&P (also a broker, and personal friend of my dad) told me that
as long as the repair was fixed, it really didn't effect the value - as long
as it was mechanically sound, flew normal, had all the correct paperwork,
etc.

It doesn't affect the airplane, but it does affect the value. Most
appraisers deduct something for airplanes with damage history,
regardless of the quality of the repair.

Matt

Because most buyers will try to avoid it... because subsequent buyers
will try to avoid it. Believe me... I've been there.

I agree that a well repaired airplane should sell for full value... but
the market just doesn't behave that way.

If you are sure you will own the plane in question in perpetuity... no
problem. Otherwise, buy right so you can sell right.

Rich

Matt Whiting wrote:
ically sound, flew normal, had all the
correct paperwork, etc.


It doesn't affect the airplane, but it does affect the value. Most
appraisers deduct something for airplanes with damage history,
regardless of the quality of the repair.

Matt

Another way to look at things: it is better to buy a plane with perfectly
repaired damage history. If there is any discount off the price, you get
that going in. Then if you ding up and repair the plane while you own it,
it does not go down in value. In fact, since "time since repair" seems to
be the test of whether the damage should be a factor, the value goes up the
whole time you own the plane.

We are now pushing 20 years since Beech, Cessna, Piper were selling planes
in large quantities. There have been only a handful of new planes a year
since then. An NDH plane is probably a hangar queen. Turning up one's nose
at a plane with perfectly repaired damage history is a dumb way to buy a
plane.

"Rich" wrote in message
...
Because most buyers will try to avoid it... because subsequent buyers will
try to avoid it. Believe me... I've been there.

I agree that a well repaired airplane should sell for full value... but
the market just doesn't behave that way.

If you are sure you will own the plane in question in perpetuity... no
problem. Otherwise, buy right so you can sell right.

Rich

Matt Whiting wrote:
ically sound, flew normal, had all the
correct paperwork, etc.


It doesn't affect the airplane, but it does affect the value. Most
appraisers deduct something for airplanes with damage history, regardless
of the quality of the repair.

Matt

Dan Thompson wrote:
Another way to look at things: it is better to buy a plane with perfectly
repaired damage history. If there is any discount off the price, you get
that going in. Then if you ding up and repair the plane while you own it,
it does not go down in value. In fact, since "time since repair" seems to
be the test of whether the damage should be a factor, the value goes up the
whole time you own the plane.

I forgot what sort of plane we're talking about here. If it's unusual, or
really old, damage history isn't such a big deal. You can always try to
use it as a negotiating point, but the seller is free to tell you to take
a hike. At the other end, the ubiquitous old 172 is also less phased by
damage as most of these come and go into the training pool and end up being
ragged out pretty bad even if not "damaged" formally.

The place it hurts you value wise is in the cross-country four+ places (Arrows,
later Bonanzas, 210's....)