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The Ultimate Barn Find? Bid On a P-51 Mustang for $150,000!

by Sarina Houston 2. June 2015 00:27
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In a dusty hangar in southern California, at an unassuming airfield, there sits a forgotten treasure: A P-51D Mustang, a legendary World War II warplane that could become the find of a lifetime for one lucky buyer. One of the few remaining 425-knot piston-powered airplanes - the fastest piston-powered airplane of its era and perhaps of all time - lies in a hangar at Torrance Airport in southern California, waiting to be auctioned to its new owner.

As the inheritor of the fabled Merlin engine, the most admired sound ever produced by twelve cylinders marching two-by-two in the classic V-12 configuration, the P-51 Mustang was the best fighter aircraft of its time, shooting down 4,950 enemy aircraft by the end of the war in 1945.

According to photographer and historian Dick Phillips of Warbird Images, who researches the history of P-51 Mustangs, this airplane, serial number 44-84896, was manufactured for the war effort in 1944 and ended its military career in 1956 as part of the 169th Fighter Squadron in the Illinois National Guard. According to Phillips, the airplane was stored in California until it was sold on the civilian market for $867 dollars to P.J. Murray of Oxnard, California and was registered with the tail number N5416V.

According to Phillip's records, N5416V would be sold 10 additional times in the next five years before being sold to James Keichline for $8,950 dollars. Keichline owned the aircraft for ten years before selling it to its most recent owner, Ken Scholz in Playa Del Rey, California in 1973. Scholz originally kept the aircraft tied down on the ramp at Torrance Airport, but vandalism caused him to move it to a hangar in 1978. Scholz, a retired aircraft mechanic, apparently never flew the plane, but intended to restore it during his retirement. It seems he would never get the chance.

Starting June 2nd, this old 1958 P-51 Mustang will be auctioned by Scholz's estate, and the starting bid is only $150,000. It's a little rough around the edges and needs an extensive restoration, but it's complete - or at least advertised as "appearing complete," which we know is hardly a guarantee. The Packard Rolls Model V-1650 engine is being auctioned separately, starting at $8,000. And there are no logbooks or any other documentation for the aircraft. Add to this that the aircraft is being auctioned "as is," and, according to the listing, there is a host of problems that will require extensive efforts on behalf of the owner, including crazing and discoloration on the canopy, oxidized paint, corrosion, and a total overhaul of all instruments and gauges.

We know that the aircraft will need to be almost completely rebuilt, but what about the logbooks? How much do the missing logbooks decrease the value of an aircraft? We know that with a typical aircraft purchase, the logbooks are vital for determining airworthiness, and can reduce the value of an aircraft significantly, sometimes by up to a third, but for an aircraft restoration project this may not be accurate. Without logbooks, an active airplane may not be airworthy until an A&P mechanic or IA recreates each AD or service bulletin and attests to its performance and compliance, an expensive prospect that may end up repeating service that was previously performed but not evidenced without proper documentation. But a project as extensive as this P-51 Mustang is likely to be documented over the course of its restoration, providing proper documentation in the form of logbooks by the end of the project.

Rumors are swirling that the bid price will come in around $400,000-800,000 (minus the engine) but the cost of this restoration project will far exceed that dollar amount. According to a few of our Facebook followers, a restoration like this will likely cost at least $1.5 million. The airworthy P-51 aircraft on the market right now seem to be going at a market rate of $2.0-$4.5 million. This 1945 Mustang is listed for $2.14 million.

How much would you guess this P-51D Mustang will bring at auction? How much do you think it will cost to restore it? How much would you pay for the privilege of owning it?

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Aviation History | Flying | Aircraft For Sale | Sarina Houston

What's an Airplane Cost? Common Aircraft Price Tags

by Sarina Houston 16. March 2015 11:10
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Curious how much airplane you can get for your money? If you’re just starting your search for an airplane, you might be surprised to learn that aircraft prices vary widely, depending on the year, modifications done to the airplane and the relevancy of the avionics, among other things.. A Cessna 172, for example, might cost $40,000 or $400,000 dollars.

From light aircraft to business jets, the costs vary from large to small. Here are some examples of what you’ll pay for a few of the most commonly purchased airplanes:

The Cessna 172


1982 Cessna 172P: $39,000

1981 Cessna 172P: $72,000

2007 Cessna 172SP: Approximately $150,000-$250,000

2015 Cessna 172SP: Approximately $364,000

 

The Mooney M20

 

1977 Mooney M20J: $65,000

2009 Mooney M20TN Acclaim: $425,000

 

The Beechcraft Baron 58
1977 Baron 58P: $175,000

2005 Baron 58: $649,000

 

The Piper Meridian
2007 PA46-500TP: $1.2 million

2015 PA46-500TP: $2.3 million

 

The King Air
1981 King Air B200: $825,000

2004 King Air B200: $2.3 million

 

The Citation Sovereign
2007 Cessna Citation Sovereign 680: $6.9 million

2008 Citation Sovereign 680: $8.0 million

 

The Gulfstream G550
2006 Gulfstream G550: $25.0 million

2014 Gulfstream G550: $49.9 million

JETNET Offers Commercial Airliner Fleet Subscription Services

by GlobalAir.com 6. March 2012 13:07
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UTICA, NY – JETNET LLC, the world leader in aviation market intelligence, is now offering their new Commercial Airliner fleet subscription service, also know as “Big Planes”. JETNET Commercial Airliner will complement their business aircraft and helicopter subscription services, bringing together the “complete trio” of aviation fleet information.

Since acquiring Aviation Data Services, Inc. (AvData) in 2004, JETNET has continued to research worldwide commercial airline fleet data. AvData had its beginnings in October 1966 in Wichita, Kansas, and was one of the early pioneers that started the capture, analysis and dissemination of aviation fleet information and intelligence through the use of a worldwide reporting system.

“We are very pleased to present our “Big Planes” service to the worldwide commercial aviation marketplace,” said Vincent Esposito, JETNET President. “That includes widebody (twin aisle), narrowbody (single aisle), freighter and regional (under 100 seat) jet airliners, along with commuter turboprops.”

Since 2004 the commercial airline fleet data has been maintained under an annual single-source contract services agreement. JETNET is now offering the airliner aircraft fleet data through its real-time internet-accessed Evolution program, combined with both business aircraft and helicopters. The total fleet is comprised of nearly 100,000 in-operation airframes, 35,000 of which are airliners. 

JETNET’s services meet and exceed the industry’s requirements to provide timely, accurate data and information on these dynamic fleets, a critical service for aircraft professionals. The company routinely assists its clients, whether airframe manufacturers, maintenance and repair shops or financial institutions with special studies. These include services such as market analysis, product and business plan evaluation, fleet aging and ownership trends, and market projections.

Current JETNET clients include major airframe and powerplant manufacturers, service and maintenance organizations, aircraft finance and leasing companies, and dealers and brokers. JETNET is a resource employed by various aviation regulatory agencies throughout the world, and many others who require data on these aircraft populations. They are also regularly cited by trade and national media outlets.

The ways in which JETNET can assist you and your organization are virtually limitless”, said Lucia Frontera, JETNET’s Director of Market Research. “We recognize that each client has a unique set of requirements. What they share is the need for timely, accurate, complete fleet information, backed by the best aviation research organization in the world.”

The heart of JETNET’s market research is their 45 

person multilingual research team in Utica, NY, actively calling aircraft operators in order to maintain real-time updates to JETNET’s nearly 100,000 aircraft database.

For more than 20 years, JETNET has delivered the most comprehensive and reliable business and commercial aircraft research to its exclusive clientele of aviation professionals worldwide. In 2004, JETNET acquired Aviation Data Services, Inc. (AvData), founded in October 1966. JETNET is the ultimate source for fleet and marketplace information and intelligence. The company offers services for aviation professionals over the full spectrum of business and commercial aviation, including business jets and turboprops; fixed wing and helicopter aircraft; and commercial airliners; as well as management and networking tools for business aviation professionals and executives. Headquartered in its state-of-the-art facility in Utica, NY, JETNET provides multichannel access to real-time, userfriendly, comprehensive aircraft data.

For more information on JETNET Commercial Airliner, log on to www.jetnet.com or contact Michael Chase, JETNET Director, Special Projects at 214-226-9882 or mike@jetnet.com. For more information on JETNET LLC log on to jetnet.com or contact Paul Cardarelli, JETNET Director of Sales and Marketing, at 800-553-8638 (USA) or paul@jetnet.com or International inquiries, contact Karim Derbala, JETNET Exclusive Agent, EMEA, at 41.0.43.243.7056 or karim@jetnet.com

Cutter Aviation, Southwest U.S. Dealer for Quest KODIAK, to Deliver First KODIAK in December

by GlobalAir.com 3. November 2011 12:41
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FOR IMMEDIATE RELEASE

November 3, 2011

 

Cutter Aviation, Southwest U.S. Dealer for Quest KODIAK, to Deliver First KODIAK in December
Cutter Aviation Aircraft Sales, the Authorized Dealer for Quest KODIAK in Texas, New Mexico, Arizona, S. Nevada and S. California will take delivery of KODIAK, s/n 100-0061 in December

 

PHOENIX, AZ. — Cutter Aviation is happy to announce that it will be accepting and delivering the first Quest KODIAK for the Southwestern U.S. dealer territory from Quest Aircraft Company in December 2011.  Cutter Aviation Aircraft Sales was announced as the Authorized New Aircraft Dealer for Quest KODIAK for the Southwest U.S. in August 2011 at EAA AirVenture by Quest Aircraft Company. Cutter Aviation Aircraft Sales is excited to bring KODIAK s/n 100-0061 to the region and demonstrate the KODIAK’s modern, rugged and powerful STOL capabilities while carrying high useful loads to every runway from modern urban airports to remote backcountry airstrips.

 

Powered by the reliable Pratt & Whitney PT6A-34 turboprop engine, the Quest KODIAK can take off in under 1,000 feet at full gross weight and climb at over 1,300 feet per minute.  Configured for straight cargo or up to 10-seat in a passenger layout, the KODIAK features the latest Garmin G1000 flightdeck and can easily handle unimproved airstrips.  Additionally the KODIAK is configurable for water operations with floats or amphibs without structural upgrades as the airframe was designed for such operations originally.

 

“The Quest KODIAK is truly a perfect aircraft for owners and operators in the Southwest United States” said R.D. Wooten, Regional Quest KODIAK Sales Manager for Cutter Aviation Aircraft Sales. “The vast stretches of sparsely populated and rugged landscape in Texas, New Mexico, Arizona, Nevada and California requires a flexible utility aircraft like the KODIAK to get the job done.”

 

Wooten adds, “Combine it with the challenging terrain and the number of remote ranches, drilling and mining operations, outposts and even communities in the region that are only easily accessible by air and it’s easy to see why the KODIAK fits the needs of our customers in the Southwest.”

 

The Quest KODIAK s/n 100-0061 being delivered in December by Cutter Aircraft Sales will feature premium options such as the larger 29” Tire upgrade package, four additional Timberline passenger seats, air conditioning and the Garmin GDL 69A-XM Data Link with Audio Infotainment package to give it the utmost utility capabilities for customers within the Southwest.

 

Cutter Aviation Aircraft Sales is an Authorized New Aircraft Dealer for Quest Aircraft Company and represents Quest KODIAK in Texas, New Mexico, Arizona, Southern Nevada (Clark County) and Southern and Central California (following counties: Fresno, Imperial, Inyo, Kern, Kings, Los Angeles, Madera, Mariposa, Merced, Mono, Orange, Riverside, San Bernardino, San Diego, San Joaquin, San Luis Obispo, Santa Barbara, Stanislaus, Tulare, Tuolumne, Ventura).  For more information on Cutter Aviation Quest KODIAK Aircraft Sales, please visit: http://www.cutteraircraftsales.com/Quest-KODIAK.

 

About Cutter Aviation

Founded in 1928 by William P. Cutter, Cutter Aviation is a full-service aviation company, offering aircraft fuel/line services, maintenance and avionics solutions, aircraft charter and aircraft sales and management. Cutter Aviation operates from eight major airports in five states within the Southwestern United States including: Arizona (Phoenix-Deer Valley and Phoenix-Sky Harbor), New Mexico (Albuquerque), Colorado (Colorado Springs), California (Carlsbad) and Texas (Dallas-McKinney, El Paso and San Antonio). The company is a member of the Pinnacle Air Network, National Business Aviation Association (NBAA), and the National Air Transportation Association (NATA). Cutter Aviation is the oldest continuously family-owned and operated FBO (Fixed Base Operator) in the United States with over 83 years of serving the General & Business Aviation industry. For more information about Cutter Aviation, please visit www.cutteraviation.com

Last Quarter 2011 Market Condition Report

by Jeremy Cox 1. November 2011 13:32
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LAST QUARTER 2011 MARKET CONDITION REPORT

Globalair Article – November 2011 By Jeremy R.C. Cox

In March 2009 I wrote an article for Globalair.com that was Titled: ”The Not So Great Depression”,
you can re-read this by clicking on this link:
http://blog.globalair.com/post/The-Not-So-Great-Depression.aspx

I wrote that piece whilst we were all living under the developing fall-out that was created as a
direct result of the Global Financial Crisis (GFC) that was first felt in the late summer of the previous
year, and was later proved to have started a full year before then (2007.)

The purpose of this article is to attempt to track just how far the Used Business Aircraft Market has
managed to pull itself away from the stinging clutches of GFC. I will use a statistical analysis process
that is fuelled by the numbers available to me through my subscription to AMSTAT. I will let you draw
your own conclusion as to where we currently stand overall, however it would be remiss of me if I didn’t
state that I believe that the Used Business Aircraft Market is on-track to achieve a soon to be issued
clean bill of health.

 

IT IS ALL IN THE NUMBERS, I.E. THE ‘PERCENTAGE FOR SALE’

November 2005 – Baseline

10,207 Turbo-Props, 1,127 or 11.04% were available for Sale

5,757 Light Jets, 833 or 14.47% were available for Sale

4,967 Medium Jets, 544 or 10.95% were available for Sale

3,180 Large Jets, 279 or 8.77% were available for Sale

 

November 2007 – Pre GFC Effect

11,121 Turbo-Props, 928 or 8.34% were available for Sale

6,417 Light Jets, 812 or 12.65% were available for Sale

5,757 Medium Jets, 584 or 10.14% were available for Sale

3,728 Large Jets, 267 or 7.16% were available for Sale

 

November 2009 – Within The Depths of GFC

12,049 Turbo-Props, 1,503 or 12.47% were available for Sale

7,285 Light Jets, 1,313 or 18.02% were available for Sale

6,568 Medium Jets, 1,098 or 16.72% were available for Sale

4,233 Large Jets, 597 or 14.10% were available for Sale

 

November 2011 – Emerging From GFC

12,616 Turbo-Props, 1,350 or 10.70% were available for Sale

7,615 Light Jets, 1,198 or 15.73% were available for Sale

6,826 Medium Jets, 924 or 13.54% were available for Sale

4,612 Large Jets, 554 or 12.01% were available for Sale

SUMMARY GRAPH SHOWING HISTORICAL TO CURRENT PERCENTAGE FOR SALE

 

As you can see from the numbers and the associated Graph, the Percentage-for-sale ‘Peak’ came
approximately
in 2009 (Light Jets peaked at 18% Mid 2009, while the rest all peaked in late 2009.)
We are about halfway back
to normal therefore 2012/2013 are looking like they might be ‘rock-solid.’

 

THE TIME IT TAKES TO SELL IN TOUGH TIMES

 

How long does it take to sell an Aircraft? Statistically for the same Groups, one can track the Number of
Days
On Market, i.e. the Average calendar time period in days from Initial Listing For Sale until Deal Closing.
The numbers are as follows:

November 2005 – Baseline

Average Days On Market for all Turbo-Props was 505

Average Days On Market for all Light Jets was 498

Average Days On Market for all Medium Jets was 436

Average Days On Market for all Large Jets was 447

 

November 2007 – Pre GFC Effect

Average Days On Market for all Turbo-Props was 492

Average Days On Market for all Light Jets was 517

Average Days On Market for all Medium Jets was 382

Average Days On Market for all Large Jets was 409

 

November 2009 – Within The Depths of GFC

Average Days On Market for all Turbo-Props was 420

Average Days On Market for all Light Jets was 471

Average Days On Market for all Medium Jets was 357

Average Days On Market for all Large Jets was 376

 

November 2011 – Emerging From GFC

Average Days On Market for all Turbo-Props was 553

Average Days On Market for all Light Jets was 588

Average Days On Market for all Medium Jets was 471

Average Days On Market for all Large Jets was 459

SUMMARY GRAPH SHOWING AVERAGE DAYS ON MARKET

 

 

What is really interesting about this graph is the fact that when an Aircraft MUST be sold ASAP, it is
‘Right-Priced’ and sold in less time than normal. The Lowest number of Days occurred immediately after
GFC showed it despicable face to us all.

Now for the Same Aircraft Groups we shall focus on the Average Year of Manufacture for each Group:

 

AGE AFFECTS POPULARITY

November 2005 – Baseline

Average For-Sale Year of Manufacture for all Turbo-Props was 1982

Average For-Sale Year of Manufacture for all Light Jets was 1983

Average For-Sale Year of Manufacture for all Medium Jets was 1985

Average For-Sale Year of Manufacture for all Large Jets was 1982

 

November 2007 – Pre GFC Effect

Average For-Sale Year of Manufacture for all Turbo-Props was 1984

Average For-Sale Year of Manufacture for all Light Jets was 1985

Average For-Sale Year of Manufacture for all Medium Jets was 1988

Average For-Sale Year of Manufacture for all Large Jets was 1985

 

November 2009 – Within The Depths of GFC

Average For-Sale Year of Manufacture for all Turbo-Props was 1987

Average For-Sale Year of Manufacture for all Light Jets was 1989

Average For-Sale Year of Manufacture for all Medium Jets was 1992

Average For-Sale Year of Manufacture for all Large Jets was 1992

 

November 2011 – Emerging From GFC

Average For-Sale Year of Manufacture for all Turbo-Props is 1988

Average For-Sale Year of Manufacture for all Light Jets is 1990

Average For-Sale Year of Manufacture for all Medium Jets is 1992

AVERAGE AGES OF FOR SALE AIRCRAFT ARE GETTING YOUNGER, AS THE FLEET AGES

 

 

SPECIFIC MODELS

 

The following figures are quite enlightening as to the issue of Age and Obsolescence:

 

Year of Manufacture

1985

1981

1976

1978

1983

1979

 

MU2 Solitare

Merlin IIIB

Learjet 25B

Sabreliner 75A

Challenger 600

Gulfstream II

 

 $1,375,000.00

 $1,795,000.00

 $1,297,500.00

 $2,990,000.00

 $9,000,000.00

 $7,775,000.00

Year of Analysis

MU2 Solitare

Merlin IIIB

Learjet 25B

Sabreliner 75A

Challenger 600

Gulfstream II

Nov-05

 $900,600.

 $ 828,800.

 $645,000.

 $683,000.

 $4,395,000.

 $ 2,912,692.

Nov-06

 $910,727.

 $767,475.

 $715,833.

 $513,333.

 $5,412,857.

 $3,007,333.

Nov-07

 $834,800.

 $883,494.

 $590,000.

 $629,000.

 $5,297,222.

 $2,696,000.

Dec-08

 $891,500.

 $963,132.

 $520,625.

 $825,000.

 $4,626,667.

 $2,171,574.

Nov-09

 $841,128.

 $930,000.

 $648,875.

 $666,666.

 $2,815,594.

 $908,890.

Dec-10

 $824,480.

 $706,600.

 $496,642.

 $499,900.

 $2,163,333.

 $819,928.

Nov-11

 $728,800.

 $717,750.

 $485,500.

 $350,000.

 $1,665,625.

 $826,691.

OBSELETE AIRCRAFT (BASED UPON VALUES)

Year of Manufacture

2002

2005

2003

2000

2001

1999

 

Socata TBM700B

King Air 350

Cessna CJ1

Hawker 800XP

Challenger 604

Gulfstream V

 

 $2,512,390.

 $5,881,474.

 $4,024,000.

 $11,895,000.

 $23,235,000.

 $39,100,000.

Year of Analysis

Socata TBM700B

King Air 350

Cessna CJ1

Hawker 800XP

Challenger 604

Gulfstream V

Nov-05

 $2,071,153.

 $2,651,666.

 $3,554,500.

 $10,208,000.

 $18,500,000.

 $36,573,333.

Nov-06

 $1,905,833.

 $3,658,333.

 $3,374,500.

 $9,768,000.

 $18,700,000.

 $33,950,000.

Nov-07

 $1,850,000.

 $4,211,923.

 $3,610,000.

 $9,158,214.

 $22,315,000.

 $45,000,000.

Dec-08

 $1,859,875.

 $3,633,947.

 $3,552,222.

 $8,918,700.

 $20,675,000.

 $38,683,333.

Nov-09

 $1,685,556.

 $3,594,565.

 $2,944,750.

 $5,852,250.

 $13,140,455.

 $25,185,714.

Dec-10

 $1,634,989.

 $2,941,500.

 $2,641,500.

 $4,610,313.

 $13,289,000.

 $26,247,500.

Nov-11

 $1,587,857.

 $3,034,211.

 $2,299,087.

 $4,080,909.

 $11,356,250.

 $26,400,000.

CURRENT OR NEAR CURRENT PRODUCTION AIRCRAFT

With all that said I believe you can see that the market is progressing and should you be condsidering
the next step please review
Globalair.com - Aircraft Exchange.  Very current with aircraft, tools to use
such as A.Buyer and comparison tool.  If you are thinking it you might want to use Globalair.com.

See you next Month!

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Jeremy Cox | Aircraft For Sale





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