What's new
Van's Air Force

Don't miss anything! Register now for full access to the definitive RV support community.

What was I thinking

cholladay

Well Known Member
I recently wrestled with the idea that I should sell my RV-8. I now have a 3 person family. I was unsure that I would fly the RV8 enough to justify keeping it. You see, I am lucky enough to have one of those wives (and now child) that does not want to be left behind and is always ready to jump in the plane for a cross-country private plane vacation or a short hamburger run. I even went as far as to list the plane on Trade a Plane, only to chicken out. I had people ready wanting to come do pre-buys and buy it. After realizing I was about to lose my 8 to a moment of insanity, I had to tell them not to waste their money because I could not yet part with my beautiful bird. There was a big smile on my face when they called to renew my ad and I said "sorry no longer for sale".
I did learn some things during my momentary psychotic episode that I'll share.

1. The majority of people that call want something for nothing.
They all want your nice IFR 430wass EFIS glass paneled airplane for the price of a daytime VFR with only stem gauge price.
They want that 430 hour since brand new engine for the price of a 2000 hour engine that has been rebuilt multiple times.

2. Most (not all) of the people that call know absolutely nothing about RVs. This surprised me at first then Duh! I realized if they were builders they would be flying their own RV-8.
Slow down, educate and don't assume they know what you?re talking about.

3. There are lots and lots of tire kickers that just like to look. That?s ok with me. It gives an opportunity to educate and talk about what we love.

4. At some point people have been wrongly told that there is a magical island called the Philippians. On this enchanted island they bred master aircraft assemblers that can assemble wing kits and fuselage kits with the skill and finesse unmatched by any other builder on the planet.
Sorry for the sarcasm but it really irritated me being told over and over that quick builds were better than standard builds. If you are a builder and you believe this then you should stop building and sell your project.
Quick builds are great if you have plenty of money and you just do not want to build it all yourself, but they are no better. There are no studies to support it. Who keeps telling people this bull crap?

IF you think about selling your 8 you should go for a flight. Take off climb out at 2000ft/min, cruise at 200mph on <10gph, do a loop, a roll, or whatever floats your boat, land, get out and look it over from rooter to tooter. If you still want to sell it then list it.
Will I ever sell the greatest plane I have ever flown, my RV-8? I don't know. I can tell you I won't be selling it today.:)
 
I'm about to sell mine, so I know where you are coming from. The only misconception you have is it doesn't matter what it cost you, it's what you can get for it in todays market. Those offering the price of a run out engined aircraft that was sold a few years ago, are probably buying an RV-8 similiar to yours today from the next guy desperate to sell.
I feel your frustration but "c'est la vie"
 
Yes, nice post from an involved builder/owner. Good for you. But like Ron says, the free market determines the price. I've been trying to sell a 2-seat certificated aircraft for 3 years and the reality is the market won't pay what I'm asking.

When I started building 5 years ago (I'm slow) it made a lot of sense to build rather than buy an RV. Now, frankly, it probably makes more sense to buy a flying RV, IF your goal is ultimately flying, and not the building process. RVs now seem to be asking or selling for barely what the parts cost, or less.
 
I'm selling one and buying another... And you know what, it's a buyers market! Pride will not change the simple fact that your airplane (or a suitable substitute) can be purchased for a lot less than you have put into it. If you are selling and can't get your head around this absolute fact, then you will be seriously disappointed!
 
I chose not to sell my plane because I love it. I had people ready to buy my plane for my price. If you want to give your plane away go for it.
 
Be happy you have an RV to sell....... Think about what brand Z is selling for used.

You are selling the worlds most popular experimental airplane. It just doesn't get any better than that.
 
Bottom line here guys is that IT IS a buyer's market. That really sucks for you guys that have spent years and a ton of cash on your prized possession. I feel your pain. Having said that, a wise RV buider once told me, "when you buy a used RV, you're paying for the engine and the avionics. The airplane is "free".)
 
I chose not to sell my plane because I love it. I had people ready to buy my plane for my price. If you want to give your plane away go for it.

Chad,
I know what you mean. I love my -8 also. It is the only non-living thing I truly love. If someone ever offered me money for my airplane it would take an absolutely ridiculous, life-changing amount of money for me to part with it. I understand how you feel. Besides, my little boy Max is already the next owner in line!

Jerry
RV-8 N84JE
 
.... "when you buy a used RV, you're paying for the engine and the avionics. The airplane is "free"...

That seems to be the case. It was with the RV-8 in my hangar; will be for the Hiperbipe; and the two low time Rockets I'm looking at for purchase are the same... Nice airplanes, all - dirt cheap.

I plan on taking full advantage :D
 
cost of kit vs buying

The cost of a kit 3,4,6,7,8,9 is greater then the market will bring. IE RV4 180 FP VFR steam gages Un painted kit costs $59.000 to $64000 Trade-a- plane ads $45.000 to $55.000. I sold my 180 al FP RV with 1000 hrs in 2000 for $55.000. Today a new built 2011 RV4 less than 300 hours sell for $55.000.Two things, the market is down sharply, and the market is saturated with RVs.:(
 
What was i Thinking

it cost more to buy the RV kit then to buy a completed RV. IE RV4 kit $53,000 to $61.000. I sold my RV4 in 2000 for $55,000 a low time RV4 180 AL FP with up dated inst panel might get $52,000
I know, as I had a weak moment and priced out a RV4 kit. I bought a 220 hour AEIO180 Al FP out dated panal for under $45,000.:eek:
 
Back
Top