Gosh just seen your example. They are coming down
And that is a pretty fine example… 780 hrs total time, 30 hrs since prop overhaul and C+ inspection, 8 years left on the 10 year inspection, VAT in EU and Switzerland…
seeing that they just reduced it from 1.1 million to 800k… there might be more possible.
Just look at the price decay in many airplanes. I just learnt of a guy who bought a Citation 501 in mint condition and with recent major check work (Phase 1-5, HSI) for less than 300k $ and is flying quite happily. The whole Cessna range is collapsing in price due to the SID incertainties and the rest of the fleet struggles. Practically no airplane reaches “book” values, or rather the book values tend to be pre-crisis and intentionally kept there in order to keep some sense of value in these planes.
GA airplanes today are often undervalued to the extent that they either are sold with huge losses or even can’t be sold as they would not even reach their remaining lease value.
Buyers market but at the same time buying today means you will most probably need to sit on it or count your losses.
FWIW when I was at Socata in 2010 for that flight I wrote up (link above) a half-time TBM700 was $1.3M. One with a shagged engine was $1M and an engine overhaul (including the upgrade to a 3600hr TBO) was $300k.
So it looks like it has come down by 30% in 4 years. That’s not a lot, considering
BTW I don’t think piston GA is necessarily a buyers market. Try getting your hands on a good-condition TB20GT or better still a good TB21GT, 2002 or 2003.
BTW I don’t think piston GA is necessarily a buyers market. Try getting your hands on a good-condition TB20GT or better still a good TB21GT, 2002 or 2003.
Peter, we are talking about popular makes like Cirrus!
Peter, we are talking about popular makes like Cirrus!
Sure, Socata never sold ~2000 TBs, and Mooney never sold anything either. A 2002 Mooney with all the options will go for 20k. Yeah right.
What makes Cirrus stand out in this is that it is still being made and enhanced, which drives the depreciation harder on the older models. Like the TBM.
GA aircraft prices worldwide are certainly generally decreasing, but of course there are exceptions: Super Cub and C180/185 are the often cited examples. I see it as an opportunity, and my idea is never to buy anything, for any amount of money, that I’m not prepared to lose 100%. I guess from that POV any resale value is a plus!
This link Mooney Buyers Guide says there are currently about 7000 Mooneys in the ‘inventory’ (whatever that means!)
Here is another TBM convention movie. Count the $500 sunglasses
Judging by the video I’m 20 years too young to fly one.
But I took the plunge. Late June delivery, SN1128.
Who needs retirement money anyway..
WOW – seriously impressive!!
Leaving money to the kids is pointless
Meh, didn’t someone say they actually appreciate in value? ;-)
Too bad delivery is after the fly-in…
At any rate – congratulations. Maybe I’ll be able to bum a ride to the next fly-in ;-)
Thanks. Will be happy to give rides. For now, I need to fly 60 hrs more in the diesel to get to 500 hours TT.
Then, after ground school, fly 25 hours is with a companion.
They really take care in Europe..
