Buying a built RV-12

[Tony_T]

Originally Posted by NinerBikes

Thinking I should be buying stock instead of a plane about now.

Sounds like a good reason to not buy an RV-12.

[RV10Man]

Talked himself right out of it, huh?

[DaleB]

You can't fly stock or index funds, but they cure can crash spectacularly.

[NinerBikes]

Originally Posted by DaleB

You can't fly stock or index funds, but they cure can crash spectacularly.

Sometimes they soar, if you bottom fish.

[lon@carolon.net]

Originally Posted by NinerBikes

I'm sure I'll strike like a Diamondback when the right deal comes along by a motivated seller.

I've seen lots of ads that describe the seller as "motivated," but I've never been able to translate that description into an actual number. What asking price would indicate a seller is "motivated"?

If the plane being sold
- was a 2018 RV-12 ELSA
- with a Rotax 912ULS engine
- and dual Dynon Skyview HDXs
- and an autopilot with panel-mounted control knobs
- and panel-mounted ALT, BARO and HDG/TRK knobs
- was painted all white with tail number decals
- had wheel pants
- and a Koger cockpit sunshade

and if the plane came with the following additional equipment
- a Minimax battery-powered tug
- a Cleveland Aircraft Tool light weight airplane cover
- a Bruce's heavy weight aircraft cover with lockable cables
- cowl plugs
- a cylinder compression testing device
- carburator balancing equipment

and
- the plane had 195 Hobbs hours
- all Service Bulletins had been complied with (including the nose wheel fork) except the recent nose gear SB, but the gear has been ordered and will be shipped May 1, so it could be installed during
- the plane's next Condition Inspection which is due by June 1, 2020.

[NinerBikes]

I've been contacted by a few people with planes for sale.

The situation, in every case, is convoluted, no clean ownership or being represented by the owner. Always someone having to present offers to someone else.

Not so much interested in a "story" plane.

If you're the original owner, that would probably be a better arrangement.

If it has no paint, and no AP, that's fine too, but I expect it to be reflected in the price, as I am not interested in something painted with automotive grade paint, when so much of the paint job is for labor.

[FlyinTiger]

Originally Posted by lon@carolon.net

I've seen lots of ads that describe the seller as "motivated," but I've never been able to translate that description into an actual number. What asking price would indicate a seller is "motivated"?

If the plane being sold
- was a 2018 RV-12 ELSA
- with a Rotax 912ULS engine
- and dual Dynon Skyview HDXs
- and an autopilot with panel-mounted control knobs
- and panel-mounted ALT, BARO and HDG/TRK knobs
- was painted all white with tail number decals
- had wheel pants
- and a Koger cockpit sunshade

and if the plane came with the following additional equipment
- a Minimax battery-powered tug
- a Cleveland Aircraft Tool light weight airplane cover
- a Bruce's heavy weight aircraft cover with lockable cables
- cowl plugs
- a cylinder compression testing device
- carburator balancing equipment

and
- the plane had 195 Hobbs hours
- all Service Bulletins had been complied with (including the nose wheel fork) except the recent nose gear SB, but the gear has been ordered and will be shipped May 1, so it could be installed during
- the plane's next Condition Inspection which is due by June 1, 2020.

Nicely equipped plane. Motivated seems to mean ?an exceptional aircraft at below market price? LOL

[NinerBikes]

Originally Posted by FlyinTiger

Nicely equipped plane. Motivated seems to mean ?an exceptional aircraft at below market price? LOL

Define market price. It sure isn't advertised price, lately.

[FlyinTiger]

What a plane sells for can change depending on demand. I sold a nice flying RV-4 a few years ago after listing it for a year. I had made several needed repairs after buying it to fly that included rewiring the aircraft, upgrading the panel and propeller. After a year and advertising on multiple platforms I decided to let it go for far less than I had in it. It was a joy to fly and taught me a ton. I got the value out of it I wanted.

Fast forward three years, the sellers market we had at the end of 2019 saw that same RV-4 sell for thousands more, a very short time after being listed, with more hours on the engine.

True ?value? is what a person is willing to pay for something. There is a generally accepted rule of thumb for value based on various RVs and their configurations based on historical sales numbers.

Pilot bank has a ?book value? they will loan against, for example. RV model, engine, hours, C/S or FP, avionics, ADS-B, etc all play into what make a plane ?worth? a certain amount and make it easy or hard to sell. They have an assessment team put a value on an airplane.

An airplane purchase is often an emotional decision if one isn?t careful. As of February 2020 it could be argued that a few people, maybe many, were paying well over ?market value? for RVs without even a prebuy for fear some other emotional buyer would snap it up first.

I did five serious inquiries in 2019 (logbook reviews and detailed pictures with my A&P), three prebuys in person, then bought an airplane. I found a great value with all the features that were on my list of must haves last October. The seller found me.

Best of luck! It?s a learning curve for sure. People here are willing to help.

[NinerBikes]

Guess i need to find that seller that got the value out of it, while it was in their possession, or perhaps, in one case, usage.

You made your point, eloquently, FlyinTiger. Maybe I should revisit the idea in another 6 months to a year, it worked well enough for you, doing so.