Tina Gonsalves (7B6)
(Top Gun)
10/08/17 03:38 PM
Airplane values

Sadly my airplane partner perished in an aircraft accident in April 2017. Two pilots in a Luscombe stalled and crashed on take-off. Broke my heart and my spirit. I have started flying again with the help of an instructor and the knowledge that Bob would never want me to quit flying.

That's not why I'm here.

We were 50/50 owners of a Cessna 172. His wife needs a value of his share for probate court. What's the best way to determine that? A google search of what's for sale? I suspect that anything I can see is priced high and not selling. (All the good planes I know of sold without resorting to advertising.)

Any suggestions??

Thanks,

Tina


John O'Shaughnessy [FCM]
(Top Gun)
10/08/17 04:04 PM
Re: Airplane values

Quote:

We were 50/50 owners of a Cessna 172. His wife needs a value of his share for probate court. What's the best way to determine that?




Hi Tina,

Closed sales are a good indication, but another good tool is vRef. Bunch in some information about the aircraft, and it'll spit out estimated value. We use it when updating our aircraft values for our insurance agent.

You do need to be an AOPA member to run vRef.

https://www.aopa.org/members/vref/?_ga=1.20147832.1931177562.1462195087


Tina Gonsalves (7B6)
(Top Gun)
10/08/17 04:06 PM
Re: Airplane values

Thank you, John, I'll give it a look see. Although I think my AOPA membership lapsed.

Scott Dyer [HPN/NY]
(Top Gun)
10/08/17 07:14 PM
Re: Airplane values

There is an organization of aircraft appraisers. One of their number was active on the Cessna Pilots forum, or was it Beechtalk, and it seemed quite good if one wants/need a fairly well-researched valuation. See https://www.plane-values.com/

Tina Gonsalves (7B6)
(Top Gun)
10/09/17 06:46 AM
Re: Airplane values

Thanks, Scott. At this time I don't think we need/want a professional valuation, just a ballpark. I did offer to the widow that it could be professionally done but at a cost. Quick poke around and it appears to be worth about $40,000.

Tina Gonsalves (7B6)
(Top Gun)
10/10/17 07:37 AM
Re: Airplane values

I paid the $$ to renew my AOPA membership that had lapsed and used the vRef service. Looks like she's worth about $40,000, give or take. Sound reasonable? 1977 C-172N with an engine approaching overhaul. (Compressions still good as of last annual.) 180 h.p. AirPlains conversion. Average paint, average interior. 1 old radio, 1 newer/old Garmin 430, no W. Not ADSB compliant, and need ot learn more about that before decididng what to do with my flying future.

John O'Shaughnessy [FCM]
(Top Gun)
10/11/17 11:06 PM
Re: Airplane values

Quote:

I paid the $$ to renew my AOPA membership that had lapsed and used the vRef service. Looks like she's worth about $40,000, give or take. Sound reasonable? 1977 C-172N with an engine approaching overhaul. (Compressions still good as of last annual.) 180 h.p. AirPlains conversion. Average paint, average interior. 1 old radio, 1 newer/old Garmin 430, no W. Not ADSB compliant, and need ot learn more about that before decididng what to do with my flying future.




That's in the ball park. Remaining variable are damage history, total airframe time, and time since last overhaul.

Our club has two C172's. A 1981 and a 1982. We run vRef every couple of years. Ours are are a bit higher due to Garmin 650, new interior (partial) plus ADS-B in and out.

John


Tina Gonsalves (7B6)
(Top Gun)
10/12/17 07:32 AM
Re: Airplane values

Thank you, John. I appreciation the verification.


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