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12-11-2017, 01:43 PM
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Join Date: Jan 2005
Location: Cape Elizabeth ME
Posts: 139
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How much is it worth??
Hello to all. Well life has overtaken me once again. I spent 12 years building my 9a, and I have been flying it for 2 years. It has been a big event in my life and I have enjoyed all of it.
Now the bad part, like many my life situation has changed. I am lucky enough to not have it be a medical problem and for that I am thankful as I have read some heart wrenching stories about our fellow RVers.
I am now going through a divorce that is likely to cost me my pride and joy. As probably many can figure out the airplane is now a pawn in her lawyers hands. It is easy for an uniformed person to go on trade a plane and try to assess that all RVs are worth 100k. I built this plane on a budget over a period of time to spread out the cost.
It is a RV9a with a used 0-290d, sterba prop, dynon d100, icom 210, it is unpainted with unfinished wheel pants.
I am wondering if any members know of a way to get an RV appraised? I am located in southern Maine. I need to try to establish what an actual Selling price is as opposed to an advertised price.
Thanks Bob
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Bob Collins (the other Bob Collins)
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12-11-2017, 01:52 PM
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Join Date: May 2006
Location: Houston
Posts: 2,012
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There are aircraft appraisers who can help you. Look carefully for someone who will provide a realistic market value assessment. Ask around. Propose that you hire the appraiser. In my case, the ex hired an aircraft appraiser. I outlined several value reducing aspects of the plane (engine issues). At the end of the process, I asked what was up with the value he mentioned. He said, "I just can't go back to her with any less." It's a very subjective process.
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Bryan
Houston
Last edited by Low Pass : 12-11-2017 at 01:57 PM.
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12-11-2017, 02:00 PM
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Join Date: Feb 2015
Location: Fort Worth
Posts: 527
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Wow. Tough situation to call.
It depends A LOT on the participants and their lawyers.
I doubt the soon to be ex wants the plane. Probably more interested in the house and car(s).
If you want to keep the plane, the easiest way is to hire someone to assess all of the marital property. Right down to the dirty dishes.
Then you can horse trade for the plane in lieu of a car or half a house or the "fill in the blank" you don't care enough about it.
It will be staggering, at first, to see how little it is all worth. It's no where near dollars paid.
But it a neutral party valuation makes 50/50 easy to determine for the judge, and the people you pay must find ways to substantiate the value placed on things.
Sorry to hear you're going through this. Apparently I've been there.
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Rob
RV-6A (Purchased)
2020 Dues Paid, of course
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12-11-2017, 02:19 PM
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Join Date: Nov 2007
Location: Yarmouth, Nova Scotia
Posts: 2,408
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Pick a price and if she thinks you are trying to pull the wool over her eyes, tell her she can take the 9 for that price and you will keep something else. Shotgun clause is what this is called. Makes it fair for both sides.
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Thanks Ron
RV-10 SOLD
RV-14 Flying
AirCam flying
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12-11-2017, 02:28 PM
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Join Date: Dec 2005
Location: Ridgecrest, CA
Posts: 432
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Aircraft Costs
Did you log all expenditures during the build? I tried and probably recorded over 95% of the cost of kit, tools, hardware and "stuff".
Discount the big items that require overhaul based on hours / time: engine, prop, hoses, even obsolete avionics and dinged paint.
Not totally accurate, but a good argument to use against a blood-sucking scumbag lawyer. Sorry if I have offended other scumbags by associating you with blood-sucking lawyers.
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12-11-2017, 02:40 PM
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Join Date: Mar 2017
Location: Birmingham, Alabama
Posts: 1,645
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It's only worth what somebody pays for it, don't listen to the soulless lawyers scare tactics. Ultimately, if it's joint property, and you can't agree on a deal, you will just have to sell it and the proceeds go into the giant pot of divorce sucks.
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RV-14A #140376
N196 (Flying)
2019 Bronze Lindy
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12-11-2017, 03:15 PM
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Join Date: Feb 2010
Location: Gardnerville Nv.
Posts: 2,828
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Hum....tough one....I heard of a story once...  a particular engine had engine problems and they thought it need a rebuild and later found out that a couple pushrods were too short.........
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7A Slider, EFII Angle 360, CS, SJ.
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12-11-2017, 04:34 PM
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Join Date: Apr 2008
Location: California
Posts: 652
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For how much is it insured? Methinks that would be a good starting point, unless it?s over insured.
Don
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RV-8 QB Titan ECi 191HP XIO-360
WW200RV Dynon D180 HS34 AP74
GNS430 SL30 GTX327 PS8000B Uavionix Echouat
"Pilots are alchemists... we turn gold into lead."
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12-11-2017, 05:15 PM
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Join Date: Aug 2005
Location: Atlanta, GA
Posts: 4,219
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I'd post a public request for recent buyers and sellers to PM you with actual sales prices and the details (engine, avionics, paint, etc) on recently sold/purchased RV-9's and see if you can learn something from the comp's.
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Kyle Boatright
Marietta, GA
2001 RV-6 N46KB
2019(?) RV-10
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12-11-2017, 05:21 PM
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Join Date: Jun 2005
Posts: 846
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RV6
I would keep the RV9 and sleep in the hanger with it.
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