Auction Super Deal C172N

[brien23]

Wow what a super deal at auction, guess i let this one get away. Sold for $57,000 Tax $4485 Premium $7125 Total price $68,613. Aircraft 1980 C-172N TT 13,397 TSMOH 1968, last airworthness 12/07/10, The previous owner failed to pay a hangar lease from what I understand. A lien was placed on the plane and the county was awarded possession of the plane in December 2020. The plane has been sitting all these years and has not been used. They are selling it because they have no need for the plane and they are hoping to get compensated for some of the loss on hangar lease. (3/31/21 . What a great deal someone got at Auction, and I thought C-172 prices were high before this.

 

[RyanB]

last airworthness 12/07/10, What a great deal someone got at Auction

So it hasn’t been airworthy for over a decade? I wonder how great of a deal it actually was.....

 

[steingar]

Great way to lose money. Repeat after me: there are no bargains in aviation. There are no bargains in aviation.

 

[Todd82]

Now add another, what, $20k for an overhaul? So you're up to damn near $90k for a plane with a high time frame airframe before even getting into whatever else is wrong with it. Dude will be lucky to fly it (aside from maybe a ferry permit) for under $100k

 

[Jeff767]

That aircraft has been sitting way to long and the price was way to high. In the end it will turn out the buyer would have saved money buying a turnkey aircraft.

 

[Salty]

57k didn’t sound like a super deal. And it just got worse from there.

 

[a572mike]

Doesn't sound like a super deal to me.

 

[Racerx]

Sarcasm is a lost art.

 

[BrianNC]

Sarcasm is a lost art.

Yep.

 

[Todd82]

Well, a lycoming-powered fixed gear 172 with a fresh engine and no major problems is a 90-100k plane right now.

That's assuming no major problems, and with that kind of TTAF I wouldn't be confident in that.

 

[GRG55]

Demand for 172s for flight training continues to be high. That is probably where this one will end up; as a revenue generator. Finding a "turnkey" airplane is challenging at the moment, and the very best low time airframes go for a real premium and don't stay on the market more than a day or three. A quick look at Controller shows 35 listings. One is for a fractional share and 17 are for sale outside the US. Of the remainder they range from the 1950s to a brand new one.

The 'N' models seem to be prized by the training units that remain unconvinced you need a Corning Ware panel to teach students how to handle an airplane. We operate thirteen 172s in our fleet - 11 x 'N', 1 X 'M' and 1 x 'S'. We are always in the market to add to the fleet, and opportunistically to replace our highest time 172s. So we know what the market it doing.

This is not the type of airplane we would normally purchase, but it's not at all out of line assuming the airframe isn't a corrosion pig. These airframes and their specific issues for each model are well known, parts are not difficult to source, there's lots of people that know how to work on them, and a flight training unit like ours can do paint/interior/engine/prop/avionics (except Garminizing ) for measurably less than a single airplane private owner.

 

[WDD]

I wonder if we’re close to the point that building a plane like an rv 14 or rv 9 would be less than buying a used certified?

 

[GRG55]

I wonder if we’re close to the point that building a plane like an rv 14 or rv 9 would be less than buying a used certified?

Depends on what you value your own time at.
And prices for everything to complete such a plane, such as those lovely integrated PDF screens and radios, are also rising now.

 

[Deelee]

I get sarcasm.

Hard to glean from text sometimes... maybe this will help.... Try reading the first sentence of this thread (few edits made) in a Jon Lovitz voice...

"Wooooooow what a suuuuper deal at auction, guess i let thiiiiiiiiis one get away."

Here's a bonus rewrite....

"What a greeeeeaaaaat deal someone got at Auction"