Thinking about selling my 172

Stingray Don said:
Well, I accepted an offer on the plane. After broker’s commission and expenses, I will net $131k. Still shocked that my 40+ year old 172 brought that kind of money. If prices come back down to earth in the future, perhaps I’ll buy another one. For the time being, I’ll have to be a renter.
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:hairraise: congratulations. I'm sure it's hard but I bet you're going to feel like a genius in a year or two.
 
Stingray Don said:
If prices come back down to earth in the future, perhaps I’ll buy another one.
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I suspect prices won't come down but rather income will rise up to meet stagnant prices.
 
Congrats glad to see your happy with the sale.
 
I just sold my ‘60 172A. Lots of goods n not so good.

Goods: 2900 total time. , 1200 SMOH, 60 hrs on TOH, mags n new exhaust.
Panel redone with TKM. Interior redone

Not so good: Rust oleum paint, MOH 40:years ago, prop strike 30 years ago,
Sat for several years, interior does not match exterior, cyl etc 20
Years back, damage history to wings, tail, fuselage.

Runs great !

Gue$$es?
 
Magman said:
I just sold my ‘60 172A. Lots of goods n not so good.

Goods: 2900 total time. , 1200 SMOH, 60 hrs on TOH, mags n new exhaust.
Panel redone with TKM. Interior redone

Not so good: Rust oleum paint, MOH 40:years ago, prop strike 30 years ago,
Sat for several years, interior does not match exterior, cyl etc 20
Years back, damage history to wings, tail, fuselage.

Runs great !

Gue$$es?
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85
 
Stingray Don said:
Well, I accepted an offer on the plane. After broker’s commission and expenses, I will net $131k. Still shocked that my 40+ year old 172 brought that kind of money. If prices come back down to earth in the future, perhaps I’ll buy another one. For the time being, I’ll have to be a renter.
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Congrats! You may have sold at the peak too.
 
85 for an engine with a prop strike and crank out .0015 ? Wow!

I know I never stated dial reading previously.
 
@Stingray Don congrats!

180hp Skyhawk with some panel updates and 1,000 Useful Load. . . ~500 hrs left on a factory new engine?

Is that price really shocking? Original paint and interior is maybe surprising for that price but doesn't seem "wild" compared to other listings.

Since this plane is sold, and we know the actual sales price, I'm curious how people look at it who are actually in the market.

ETA: our little partnership group agreed to delay purchase due to elevated prices (and I think people are just nervous).

At work we are starting to staff up our special assets group (the team that focuses on defaulted loans and bankruptcy). Even Jamie Dimon changed his tune last week on how the economy plays out (changed from saying slight sluggishness followed by continued growth maybe 3 weeks ago to saying we are facing an economic hurricane this past week).

I hope everyone is right that there is continued growth with salaries rising to meet inflation. I just don't see that.
 
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