First off, he said he spent $100k on that annual in the 70's. At that point the plane was no doubt allot more valuable at 8 years old than it is today.
Second, today that plane new would be a Million dollar plane.... once it is out of warranty mid time engines you have to expect the maintenance can be $10-20k per year. Neglect that maintenance for a few years, put the plane out of annual and neglect to pickle it up correctly and it is going to cost a bunch to bring it back up to par.
Third, the neglected AD is a hint of the maintenance before this guy bought it so he no doubt knew it and purchased the plane at a repo price so to speak.
Fourth, this is highly a highly unusual % of value repair but then again this plane is in the top of the twin recips with FIKI.... The only complex item it is missing is duel turbos.
Finally, this is a warning! Just because you can buy a hell fast plane does not mean you can live with it.
Buy the plane for 80% of your mission and rent or go commercial the rest of the time.
Here are the steps of performance and expense as I see them:
Trainer 150
Trainer 4 seat 172/Cherokee
Family plane 180 hp 4 seat/ 235 hp 4 seat
Complex 4 cylinder like Arrow/ RG 172/ RG 177
HI Perf 6 seat Cessna 205/Cherokee 6
6 seat Hi Perf Complex A-36/Comanche/Cessna 210
Light twins like Twin Comanche/Travel-air
Turbo Single 4/6 seat complex
Medium Twins like Baron/310
Turbo Medium Twins 320
......on top of each of these categories add FIKI for cost.
......On top of that you can add Pressurization for complexity and cost.
On the bottom third to half of this list the annuals with maintenance can go from a slap in the face to breath taking....possibly even heart stopping.
So I would seldom recommend a first time a/c owner buy much more than half way up the list for a first a/c.
I've seen a couple of aircraft for sale that brag about how well maintained they are because they had to spend $100K on a recent annual. Example:
http://cgi.ebay.com/ebaymotors/1962...2648&ssPageName=STRK:MEWAX:IT&forcev4exp=true
This isn't the only example, I saw another bragging about a $45K annual, and that apparently didn't include a major overhaul of the engines.
My question is, "What causes annuals to be so insanely pricy?"
I mean if you need to overhaul an engine then sure, that requires 5 digits right there. But other than that, how can things really get that out of hand? And honestly, why even bother with something like the linked aircraft? If my A&P tells me that my bird is gonna require $100K then it's going to get parted out and I'll be shopping for a new bird.
Restoring classic aircraft is another way, I suppose, but that's more about the love of an old and rare (or at least uncommon) bird than maintaining a utilitarian transportation vehicle.
What makes these annuals so dang pricy?