Airplane prices really have gone insane

saddletramp

saddletramp

Line Up and Wait
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saddletramp
I've got several of my students looking for an airplane. All of the airplane ads they have had me review leave me stunned at the asking prices of good clean airplanes. I've been flying for many decades & I've seen the markets go up & down. I can not remember a time in the past where the prices just keep skyrocketing. It makes it difficult to recommend a new buyer jump in right now.

When I bought my 182A six years ago, at the time, I felt I might have overpaid for my airplane. I hardly ever shop airplanes anymore because I'm satisfied with the one I own.

But WOW...a quick peek at Trade A Plane was an eye opener.

I feel sorry for anyone wanting to purchase in today's market.
 
The three items that seem to affect used airplane prices is interest rates, fuel prices, and the general economy. The moons are aligned for high used airplane prices although fuel is trending up.
 
Yea I am blown away too. Facebook comments go crazy with people saying a Cessna 150/140/120 in average shape hitting the market in the mid 30's is a "great deal"!?!?!?!?! The real craziness is on Kitfox airplanes. Recently a 582 powered IV almost instantly sold with an asking price of like 34k. Who in their right mind would pay 34k for a 582 powered anything! Only a year or two ago 30k would buy you a pretty nice Pitts S1S, high teens to low 20's bought a nice S1C, Now they are being listed for 50k and up.

I complain but I sure wish I would have jumped on the bandwagon sooner. I passed on a decent condition Cessna 172C that was listed for 35k. Hadn't flown in 2 years, bottom end of the engine had over 2500 hours but a recent top. I offered 27 for it but he sold it for asking price. A guy at my airport bought it, flew it for a year, then sold it for 45k.
 
I bought my Cherokee 180 two years ago for $45,000. Some said I overpaid.

My CFI had one of his students go fly it to see if he liked it and he handed me a check for $65,000 a couple months ago and I turned him down.

I want a Bo, but the prices have out stretched my willingness to pay for one

On the other hand, my house has gone up in real value about 40% in that time also
 
Prices in some markets (not just aircraft) are dramatically higher in the last couple years. The real question is where it goes from here.
 
Another factor is insurance folks do not want to cover older pilots in complex

aircraft. That sort of ups demand for Archers, 172s etc.

Might sell my VFR only 172 A.

A bud of many years coincidentally has his 172 M hangared 100 FEET from mine.

So far this year I have flown both about the same as he seldom flies.

As an IA it could be advantageous to have a non-owner policy and just fly others.

Been doing that for many years.

Not cost effective to do both.
 
There’s other factors going on. I have seen a 20 year old 172 with an asking price above a 20 year old SR-20
 
Well I bought my Sport 25 years ago for 20K. I might get 28K just because of condition and all the spare parts I have. The Sport is a 2 door trainer with a 150hp engine. Slow but comfortable, not the most popular plane but works for me. Flown it from the Gulf of Mexico to Alaska and down to the lower 48 several times. Sure wish I had an altitude hold auto pilot. Most legs I have flown were 4 to 5 hours long.
 
You can understand some of the high price if you look at prices for new airplanes.
 
Like the OP, I too have an A model 182. I've had it for coming up on 10 years now, and it blows my mind to think that I've got it insured for more than twice as much as I did back then.
 
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Kelvin said:
The truth is your money is worth less...
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Correct. Unfortunately for savors and those who spend less than they make.

For those who spend more than they make, congratulations! Your path is being rewarded.
 
BPM said:
Correct. Unfortunately for savors and those who spend less than they make.
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Only if you put your money under the mattress (or in a savings account at a bank, which is essentially the same thing). Anyone who's invested almost anywhere in the stock market or purchased real estate almost anywhere since 2008 has done quite well.
 
Jim_R said:
Only if you put your money under the mattress (or in a savings account at a bank, which is essentially the same thing). Anyone who's invested almost anywhere in the stock market or purchased real estate almost anywhere since 2008 has done quite well.
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…or an airplane.
 
FORANE said:
Prices in some markets (not just aircraft) are dramatically higher in the last couple years. The real question is where it goes from here.
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I expect flames. That’s why I sold the plane into a partnership. With appreciation, I got back most of what I had in it and I still get to fly it. If I couldn’t of found a partnership I would’ve sold out right. When Oil goes to $100 a barrel…
Now I just need to be patient and wait for truck prices to come down.
 
BPM said:
…or an airplane.
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I don’t know, if you bought an airplane 8-10 years ago, you’re doing pretty good. It’s not really an investment, but considering you got to use it and still sell it for much more than you bought it, I’d say that’s pretty good.
 
saddletramp said:
I've got several of my students looking for an airplane. All of the airplane ads they have had me review leave me stunned at the asking prices of good clean airplanes. I've been flying for many decades & I've seen the markets go up & down. I can not remember a time in the past where the prices just keep skyrocketing. It makes it difficult to recommend a new buyer jump in right now.

When I bought my 182A six years ago, at the time, I felt I might have overpaid for my airplane. I hardly ever shop airplanes anymore because I'm satisfied with the one I own.

But WOW...a quick peek at Trade A Plane was an eye opener.

I feel sorry for anyone wanting to purchase in today's market.
Click to expand...

I bought my 172 for 35k IN 2016. Right after that the prices took off. I got lucky for a change.
 
Like dogs who climb under the bed an hour before a thunderstorm, we instinctively know what is coming. There is a flight to perceived value, whether it is housing, cars or airplanes. Note I did not say "value," I said "perceived value".
 
With the increased interest in plane ownership, I have heard a few horror stories of planes down for a bit waiting on parts. Engines seem to be taking months. I wonder if that will help cool things down and some people will hate the annual annual dance.
 
It's probably more like 50k in pending engine/BRS maintenance. But the prices are still crazy. A ~2003 CR20 with 2,000 hours that needs an engine and BRS is in the 160k range. I also see a 172SP (glass) with 11,000 hours at 215k. That's the low priced one.
 
Its crazy

16 years ago I think, 1968 Cessna 177 for $30k with junk radios and a mid time factory engine (same engine today) Brittain wing lever (inop then has worked great for almost 10 years now)

5 years ago I think 1968 Cessna 182L with mid time new factory engine & nice prop (airplane came with decent radios GMA340/GTN 625/GDL88/ADS-B in/out) for $58K (no autopilot) Its loaded pretty nice now so IMHO it would sell easily for $90k or more. I wouldn't list it for under $100k
 
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If fuel prices double, you will probably be able to get a better deal...:)
 
They don’t build used airplanes?
 
When hobbies become "investments" in an owners mind only someone in dire needs will sell for a loss so I don't see a substantial decline even with an economic downturn except maybe for the owners that have had them for 10+ years. I think even then the only big change will be with brokers that will list planes lower but still have a good profit.
I remember at least 3 specific planes I saw on TAP the last 6-8 mos and think, ya, that's a fair to good price. Then sometime later the same plane will be at a dealer for 50%+ more, same old radios and run out engines.
 
Yeah...never thought I would but seriously thinking about putting my 182 on the chopping block!
 
Martin__ said:
That is the truth.

I don't believe the CPI inflation index, the inflation is higher imo.
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That’s because the CPI excludes energy, food, and health care…you know, anything that’s going up and isn’t optional.
 
It’s not just planes. Soon we’ll need that wheelbarrow full of $$ to buy a loaf of bread.

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I bought my AA5 in August for $25k. I was in the right place at the right time though. We are 8 weeks into our first annual together. I'm told this is the worst one...
 
^if it's the one in your avatar it's a pretty plane! Grummans were long under valued and under appreciated.. seems like the market caught on! Given the choice between PA-28 or C-172 the answer is always going to be "Tiger" or one of its brethren!

I think it makes a decent trainer as well, it teaches control discipline better than the others, which can be good if people ultimately buy one or move to someone like a Mooney, Cirrus, etc. Not every plane is as forgiving as a 172
 
While staying on topic of this thread. I've been watching twin prices for years, it seems that that's one area of the market where prices are either flat or continue to go down. The whole demand and operating costs, I know. But it's nuts to think that you can buy a used 172 or a 421 for nearly the same price. Hell there are many nice Aerostars well below $200K out there, twin bonanzas, Aztecs. If you can afford the gas and 3X the maintenance costs twins are still a bargain =D
 
Tantalum said:
^if it's the one in your avatar it's a pretty plane! Grummans were long under valued and under appreciated.. seems like the market caught on! Given the choice between PA-28 or C-172 the answer is always going to be "Tiger" or one of its brethren!

I think it makes a decent trainer as well, it teaches control discipline better than the others, which can be good if people ultimately buy one or move to someone like a Mooney, Cirrus, etc. Not every plane is as forgiving as a 172
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It is, and thank you. I am always learning something. Peggy (short for Pegasus) has not humbled too badly yet.

I think the market for the AA5 family finally caught on right about the time that the "cash buyers" dried up and the banks are just not impressed with the Grummans at all.
 
Tantalum said:
While staying on topic of this thread. I've been watching twin prices for years, it seems that that's one area of the market where prices are either flat or continue to go down. The whole demand and operating costs, I know. But it's nuts to think that you can buy a used 172 or a 421 for nearly the same price. Hell there are many nice Aerostars well below $200K out there, twin bonanzas, Aztecs. If you can afford the gas and 3X the maintenance costs twins are still a bargain =D
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For some reason I've been looking casually at Senecas. I need to stop. But I could trade my moderately equipped PA32 for a well equipped PA34 based on what I'm seeing.
 
NealRomeoGolf said:
I've been looking casually at Senecas. I need to stop
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Oh man, I especially love the Seneca IV

For me that second engine is a must. The climb rate, power on take off, redundancy, fantastic..
 
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