26 Jun 2025, 03:43 [ UTC - 5; DST ]
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Post subject: Re: Buying older King Airs and Citations! Posted: 18 Jun 2024, 12:49 |
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Joined: 11/06/20 Posts: 1635 Post Likes: +1698 Location: Tulsa, OK - KRVS
Aircraft: C501SP
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Username Protected wrote: Hey Chris when you're ready to sell your 501 for 600k let me know  Well, this one is pretty close! Has 2/3 of my panel and the first digit in the asking price is a 6: viewtopic.php?p=3435256#p3435256
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Post subject: Re: Buying older King Airs and Citations! Posted: 18 Jun 2024, 14:09 |
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Joined: 11/06/20 Posts: 1635 Post Likes: +1698 Location: Tulsa, OK - KRVS
Aircraft: C501SP
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Username Protected wrote: and damage history! That's always fun Seriously? Anything wrong with the repair would have manifested in the ensuing 40 YEARS of flying (and inspections). But thank you for reinforcing the point of this thread. Buying an old plane is different than buying a new plane.
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Post subject: Re: Buying older King Airs and Citations! Posted: 18 Jun 2024, 14:59 |
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Joined: 08/14/13 Posts: 6410 Post Likes: +5145
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Username Protected wrote: and damage history! That's always fun Seriously? Anything wrong with the repair would have manifested in the ensuing 40 YEARS of flying (and inspections). But thank you for reinforcing the point of this thread. Buying an old plane is different than buying a new plane.
Three parties that care:
Lenders Underwriters Future buyers
That’s strikes one, two, and three for me!
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Post subject: Re: Buying older King Airs and Citations! Posted: 18 Jun 2024, 18:19 |
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Joined: 11/06/20 Posts: 1635 Post Likes: +1698 Location: Tulsa, OK - KRVS
Aircraft: C501SP
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Username Protected wrote: Three parties that care:
Lenders Underwriters Future buyers
That’s strikes one, two, and three for me! You continue to make my point. If the price is right, none of that matters. 1) Pay cash 2) Hull value is already low so insurance should not be an issue or you could skip hull insurance all together 3) You are getting a discount so you pass that discount along when you sell it. And my corollary to Chip in this thread - at the low end a seller is not going to jump through a bunch of hoops for a buyer. It's just not worth the time and headaches. Will that eliminate some buyers? Yes. But I would argue it's eliminating people that you don't want to buy your plane anyway. Anyway Brian, this clearly isn't your market.....
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Post subject: Re: Buying older King Airs and Citations! Posted: 18 Jun 2024, 19:25 |
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Joined: 06/17/14 Posts: 5913 Post Likes: +2658 Location: KJYO
Aircraft: C-182, GA-7
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First of all, I am a mammal like a dolphin and love shiny and fast. I respect both Chip and Dr. Tarver. Frankly, I hope "Tarver's Gently Used Jets" takes off and he becomes the next Elliott or Stevens. I hope the economy recovers and Chip has a bunch of people annoying the poo out of him to take them on as clients and find aircraft for them.
Lastly, I had an IT client that bought a Gulfstream IV a few years back. A popular shop missed a blue juice leak out of the aft lav after they reinstalled it. My client's DoM sent the aircraft to Gulfstream Savannah for a pre-buy inspection and Gulfstream found the issue. Even with the zinc chromate, and stellar Gulfstream build, it caused some corrosion that needed repaired. The plane would be nearly 30 years old today if I recall correctly. The current owner paid for the repairs and the aircraft was sold. A handshake, and a few pieces of paper (and likely a wire) later, and the issue was resolved. On the backside there were probably aviation attorneys talking to the E&O attorneys at the shop's insurance company.
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Post subject: Re: Buying older King Airs and Citations! Posted: 18 Jun 2024, 20:13 |
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Joined: 08/14/13 Posts: 6410 Post Likes: +5145
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Username Protected wrote: Anyway Brian, this clearly isn't your market..... I never said it was? And on that note, who’s paying 10% or more of hull to a broker to find a legacy king air or citation meeting that criteria?
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Post subject: Re: Buying older King Airs and Citations Posted: 18 Jun 2024, 21:14 |
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Joined: 08/09/11 Posts: 1966 Post Likes: +2646 Company: Naples Jet Center Location: KAPF KPIA
Aircraft: EMB500 AC95 AEST
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Username Protected wrote: Michael, I know better than to judge based on an invoice. Way too many variables involved. But if you can determine what work was actually done from 5,000 miles away based on a sheet of paper, more power to you. The invoice is just half the story - the other half has been reported in detail by someone I respect as being extremely precise. And yeah, as a matter of fact, I can get a pretty good idea of the level of pencil whipping going on from a simple logbook entry or invoice, even 10,000 miles away ...
Right. It all sounds good on the internet. I’ll make sure to send you the next invoice I don’t like.
I used to make these kinds of comments but after 30+ years in and around shop floors, I go straight to the discrepancy and the mechanic and I’m rarely in disagreement with what mechanics show me. My theory of aircraft maintenance is to fix everything that’s broken and hoping nothing else bites you in the ass in the dark of the night. So far, so good.
Of course, there’s an ass for every seat but I’ve seen the results of deferred maintenance and too often it’s a bunch of pilots wondering what happened on CT when those who know the attitude involved precipitating the crash are not shocked in the least. No clearer example than the Aerostar fleet. Sexy planes bought by those who can’t or are unwilling to properly care for them crashing left and right.
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Post subject: Re: Buying older King Airs and Citations! Posted: 18 Jun 2024, 23:44 |
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Joined: 10/10/14 Posts: 1626 Post Likes: +1324 Location: St George UT
Aircraft: Mooney D 1964
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SKYDROL? The original salesman for Skydrol would swallow a tea spoon of it in demonstrations at aviation conventions Yes true verified by his daughter directly to me. Don't take a piss after working with Skydrol until you wash your hands 3 times with soap and water!!!!!!!!!!!!
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Post subject: Re: Buying older King Airs and Citations! Posted: 18 Jun 2024, 23:48 |
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Joined: 07/22/14 Posts: 10074 Post Likes: +20083 Company: Mountain Airframe LLC Location: Mena, Arkansas
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Username Protected wrote: SKYDROL? The original salesman for Skydrol would swallow a tea spoon of it in demonstrations at aviation conventions Yes true verified by his daughter directly to me. Don't take a piss after working with Skydrol until you wash your hands 3 times with soap and water!!!!!!!!!!!! Cliff?
_________________ If a diligent man puts his energy into the exclusive effort, a molehill can be made into a mountain
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Post subject: Re: Buying older King Airs and Citations! Posted: 19 Jun 2024, 08:22 |
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Joined: 10/10/14 Posts: 1626 Post Likes: +1324 Location: St George UT
Aircraft: Mooney D 1964
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Username Protected wrote: SKYDROL? The original salesman for Skydrol would swallow a tea spoon of it in demonstrations at aviation conventions Yes true verified by his daughter directly to me. Don't take a piss after working with Skydrol until you wash your hands 3 times with soap and water!!!!!!!!!!!! Cliff?
Yes? If you have ever worked with Skydrol you know what I'm talking about
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Post subject: Re: Buying older King Airs and Citations Posted: 20 Jun 2024, 07:21 |
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Joined: 05/23/13 Posts: 8065 Post Likes: +10405 Company: Jet Acquisitions Location: Franklin, TN 615-739-9091 chip@jetacq.com
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Username Protected wrote: The invoice is just half the story - the other half has been reported in detail by someone I respect as being extremely precise.
And yeah, as a matter of fact, I can get a pretty good idea of the level of pencil whipping going on from a simple logbook entry or invoice, even 10,000 miles away ...
Right. It all sounds good on the internet. I’ll make sure to send you the next invoice I don’t like. I used to make these kinds of comments but after 30+ years in and around shop floors, I go straight to the discrepancy and the mechanic and I’m rarely in disagreement with what mechanics show me. My theory of aircraft maintenance is to fix everything that’s broken and hoping nothing else bites you in the ass in the dark of the night. So far, so good. Of course, there’s an ass for every seat but I’ve seen the results of deferred maintenance and too often it’s a bunch of pilots wondering what happened on CT when those who know the attitude involved precipitating the crash are not shocked in the least. No clearer example than the Aerostar fleet. Sexy planes bought by those who can’t or are unwilling to properly care for them crashing left and right.
There was a crash a few years ago, went in to Percy Priest Lake, because it took off from Smyrna I called the guys I know at the airport, no one was surprised.
I suspect it is exceedingly rare for deferred maintenance to be the cause of an accident, but a link in the chain? That’s probably less rare.
_________________ Winners don’t whine.
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Post subject: Re: Buying older King Airs and Citations! Posted: 20 Jun 2024, 13:11 |
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Joined: 11/06/20 Posts: 1635 Post Likes: +1698 Location: Tulsa, OK - KRVS
Aircraft: C501SP
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Username Protected wrote: Yes? If you have ever worked with Skydrol you know what I'm talking about Yep. Safety glasses and nitrile gloves always. Denatured alcohol in a spray bottle cuts it quite well.
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