jones.cody.m
Member
Hello folks,
New here, avid lurker since I’ve become a member.
In my local area, a 1940 J3 is coming up for auction soon at a farm auction. The auctioneer hadn’t ever sold an airplane before so I’ve accidentally gotten on his good side helping him out with the administrative side of the sale. He let me go out and look the plane over. Here’s a little about it.
1- owner passed in 2011, and it’s been sitting since at least then. From what I can tell, he took good care of it; he’s owned it since 1960.
2- haven’t found logbooks yet. This estate is massive and I have no doubt they’ll find them once the auction company starts going through the house. No clue what the hours are, etc.
3- the bones of the plane seem to be solid. Wood spars are in good shape, and aside from some surface corrosion on the lower aft longerons near the tail wheel, everything looks surprisingly good.
4- fabric and paint are obviously tired. It’s held up but if I’m fortunate to win it, planning a full restoration.
5- engine is free, oil looked good, and it turned with compression (don’t have experience with 65 continentals, but felt descent to me)
6- added bonus for the winner is 4 massive hornet nests and 10 birds nest
7- Airworthiness Certificate is there, in tact, registration was cancelled in 2017.
The question I’ve got for the group is this-
What kind of value do you place on something like this? All things considered, I figure $5k is a good place to be personally, especially when I account for the time and money for the full restoration.
However, I know there are people out there with more money than sense and this thing could catch a pretty penny.
What are your thoughts?
New here, avid lurker since I’ve become a member.
In my local area, a 1940 J3 is coming up for auction soon at a farm auction. The auctioneer hadn’t ever sold an airplane before so I’ve accidentally gotten on his good side helping him out with the administrative side of the sale. He let me go out and look the plane over. Here’s a little about it.
1- owner passed in 2011, and it’s been sitting since at least then. From what I can tell, he took good care of it; he’s owned it since 1960.
2- haven’t found logbooks yet. This estate is massive and I have no doubt they’ll find them once the auction company starts going through the house. No clue what the hours are, etc.
3- the bones of the plane seem to be solid. Wood spars are in good shape, and aside from some surface corrosion on the lower aft longerons near the tail wheel, everything looks surprisingly good.
4- fabric and paint are obviously tired. It’s held up but if I’m fortunate to win it, planning a full restoration.
5- engine is free, oil looked good, and it turned with compression (don’t have experience with 65 continentals, but felt descent to me)
6- added bonus for the winner is 4 massive hornet nests and 10 birds nest
7- Airworthiness Certificate is there, in tact, registration was cancelled in 2017.
The question I’ve got for the group is this-
What kind of value do you place on something like this? All things considered, I figure $5k is a good place to be personally, especially when I account for the time and money for the full restoration.
However, I know there are people out there with more money than sense and this thing could catch a pretty penny.
What are your thoughts?
