What is my plane worth?

[gyroron]

Curious as to what some of you folks would say my plane is worth.

It is a Waiex, built in 2010 ( I believe, I would need to check the logs at the airport ) It has dual sticks, tail dragger gear. Power is Jabiru 3300 with aerocarb. The engine is a 2nd gen late model so has most of the changes that 3rd gen engines have.... According to the folks at Jabiru USA my engine has the best combo of the first 3 generations of the engine. Sensenich prop. MGL electronic flight and engine gauges, Icom radio, Trigg Transponder with ADS-B out. Plane is polished with yellow cowling and tail tips and pants. Plane is mostly stock, not much for mods... I did add a retractable sunshade and an upgraded pneumatic tailwheel assembly from Peter Anson. Plane is in great shape, looks sharp, built very well and engine runs great.

I am not 100 percent committed to selling it, but long story shortened.... Years ago, 2006, I bought a Vans RV4 and only kept the plane about a year. I was living above my means and had payments on everything... Sold the RV4 and downgraded to a lowly Titan Tornado! I downgraded just about everything else in my life and over the next 10 to 12 years I was able to get to a point where I was debt free. If I won the lottery I don't know what I would buy, but I still lust after and want another RV4, its a plane that is within a reasonable budget and really makes me happy. I have been on the upswing airplane wise and the Sonex is 2/3rd of the RV4 experience at half the price. I might just stick with the Sonex as it is really nice and I really enjoy it... But I have a opportunity to buy a RV4 at a decent price right now and depending on how much I can realistically expect to get out of my Waiex I might pull the trigger on the 4.

And a side question....

Where I am located I have to have ADS-B, The RV4 I am looking at doesn't have it. I really like the Trigg set up I have in my Waiex... I wonder how much less my plane would be worth if I offered it for sale without the Trigg, and I kept that to put in the Vans???

[MichaelFarley56]

Hello Ron, I wish I could give you an exact value but selling a Waiex is tricky right now given a soft market and increasing issues with insurance. Take my two cents for what it’s worth (not that much) but your Waiex, as it sits now, is probably worth $24,000-29,000 if you are in a hurry to sell it. I base that number on what I see on Barnstormers and other online aircraft sales websites. Unfortunately there are a bunch of airplanes for sale which doesn’t help much.

If you are going to remove the Trigg that may lower the value another $1000-2000 from the first estimate.

Again, just my guess! Hopefully others will offer other estimates as well.

[gyroron]

Thanks Mike for your input. If I got 30 grand for the plane I would be very happy. I expect I would probably get less, but who knows. Just wanted to see what others would think.

As for the transponder, the plane I am considering ( RV4 ) has a very old school transponder and I would prefer to just slap the Trigg in it I already have, and take a hit on the value of the Waiex, as opposed to buying a different transponder and ADSB solution for the 4. Both planes have limited panel space, but the 4 has even less space and I would want to put a iPad on the panel of the 4, which means I need to have the smallest radio and transponder I can find.

[MichaelFarley56]

Just a thought Ron, and I’m sure you’ve already considered this...

Adding ADS-B Out to the RV could be as easy as installing a uAvionix Echo UAT or one of the wingtip/tail beacon systems (if the airplane has exterior lights). Those would potentially work with the current transponder, not add anything to the panel, and only be $1500 or so. That way you don’t need to tear into the Waiex, maintain its value, and solve the ADS-B issue with the RV.

[Matt541]

Good morning Ron, I'd say Mike's assessment is pretty spot on. I keep tabs on the market with multiple aircraft types, something to do I guess. Naturally, Jab 3300 models are listed at a higher price point than VW equipped ones. Some people post a higher asking price, but we don't know what they actually sell for. It seems as soon as you see a nice example priced at $25k+, something similarly equipped gets posted for ~$18k. So it really all depends.

FWIW, when I was still in the market I was instantly taking $2k off the top for aircraft not equipped with ADS-B sight unseen. Some sellers agreed with that, some didn't. (In the end, I bought a project and it really didn't matter.) But you might come across others like me in that sense.

I say leave it in, makes your offering more attractive to the buyer. (I actually know one person in the market right now who would need it.) And allows you to post a higher asking price to boot.

I'm very familiar with your airspace, CLT controllers had a field day when I was having issues with a transponder pre ADS-B. (Multiple 360s to "establish my position.") How is the buyer supposed to get your Waiex out of the Bravo/ Veil? Pay someone to install a new system? Take the wings off and haul it? I know you'll face the same problem with the RV, but you'd be limiting your market for sure.

And yes the insurance issue is a big one too. $2-3k (and climbing) for the first year Sonex buyer is not an attractive proposition. But I would at least be more comfortable getting dual with the extra power the Jab offers. Just gotta find a CFI with time in type.

Side note, congrats on realizing where you were financially and getting nearly debt free! It takes time and sacrifice and is certainly worth recognizing. It's all too easy anymore to just add another monthly payment...

[Scott Todd]

Its pretty straight forward to get a waiver to fly out of the airspace without ADS-B so that shouldn't be a detourant. I've also installed a few of the uAvionix echoUAT SkyFYX bundles. Its about the cheapest solution and it provides ADS-B in. It only takes an hour or so and is just basically two antennas and power. Again, I wouldn't let it be a deal breaker.

But having said all that, many buyers just want turn key. It may help sell. The first step is admitting you won't get your money back no matter what. The timing is a bit off for yours but I'll be looking for a flying Jab one in the near future for the sole purpose of providing flight/transition training. I expect to find one for around $30 but would be happy for a bit less without avionics.

[13brv3]

I sold an RV-3B about a year ago, and it didn't have a transponder, much less ADS-B. I had a number of potential buyers who wouldn't even consider the plane without it. At one point, I thought I was going to have to upgrade it to sell it, but eventually sold it as is for much less than I had expected. My advise (which you should ignore because I'm the worst salesman ever) would be to leave it installed. If the timing of buying and selling permit, it could be a negotiating point, such as $31k as is, or $29k without the Trigg. That's the best of both worlds for a potential buyer. Good luck.
Rusty

[pilotyoung]

I want to echo those who say leave the Trig transponder in the aircraft. I bought a Onex with a transponder but no ADS-B. I installed the uAvionix echoUAT SkyFYX bundle. It was an easy install and cost $1400.00. It provides ADS-B out and IN displayed on an iPad, iPhone, Android, and maybe others. I use an iPad with mine and it works great.

[GraemeSmith]

Quick and dirty valuation I use when looking at EXPERIMENTALS.

The cash cost of the major components. Kit, Avionics and Engine. Less a prorated part if the engine used up.

Tools, fastners, all the little things, blood sweat and tears and labor count for nil.

It's a rather brutal way of looking at it. But comes close to selling prices I've observed.

[Scott Todd]

I like to watch used airplane prices too and various brands carry different values. Looking at Graeme's rough numbers of 18,4,18 puts it at $40. Like most people say here and what you see in the market, $30 is closer to what similar Sonex's sell for. It seems to be a buyers market for our beloved little airplane.