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Bluebook Values

  

Blue Book values

Thanks to Joe Ruck of our insurance partners Air-Pros for this information.
For information on our insurance program, please check this page.

A Word about Aircraft Values

In my opinion there are really three prices for any airplane, depending on who's using the number. Depending on the market they can vary widely. Let's walk through them together:

Blue Book Value:

This number is used by banks in the loan process, whether its cars, airplanes or equipment. They need to have some way to know the cash value of an asset. They will then loan some percentage of that cash value.

Should the loan go bad and the airplane reverts to bank ownership, remember that the bank doesn't want to clean it, fix it up, inspect it, allow any prepurchase inspection, deal with retail buyers, fly it anywhere or own it more than a few days.

As such the price is what the bank can get by calling up three brokers and basically asking "What will you give me for an airplane with the following specs, sight unseen?" This is far from a retail price, and probably lower than what most retail sellers would consider a 'worst case' price.

Also keep in mind that any 'above average' equipment or condition will add to this value, and it is based on an aircraft with a mid-time engine. So to get a full bluebook value you'll need to adjust accordingly.

When the market is hot and buyers are everywhere and airplanes sell retail in a few days, blue book value will start to get closer to retail pricing. This was the case in the 2008 timeframe, which led some people to misunderstand how Blue Book fit into the pricing continuum.

"If someone offers me..." or Wishful Thinking Value:

Some sellers are thinking it might be time to trade up, or perhaps they are not flying as much as they used to and are considering going back to renting. In some cases a spouse might demand an airplane be put up for sale. Sellers of this type have been known to pick a price which they would not expect to get, but would be enough to unclench their hands from their pet aircraft.

Serious shoppers will see this price for what it is and often not even make an offer. A few may make a try, thinking they may happen to call just as the seller comes to their senses, but there is a very high risk of the seller taking offense at a realistic offer. Such offerings may not be worth the energy to pursue.

Be sure you check the equipment and upgrade list before concluding that you're looking at such a price... sometimes the airplane really is worth a lot more than the basic specs would suggest!

Market Value:

Here's the number that we all look for, but the hardest to find. This is the price that a motivated but patient seller and a motivated but reasonable buyer, will come to after full knowledge of the state, equipment and condition of the subject aircraft.

Coming to this price requires more than a fresh annual, which is designed to check airworthiness on a particular day. A prepurchase inspection is needed to uncover all the things which are about to be a problem (and a cost) in the near future.

Have wear items been replaced proactively through the years? Or are there a dozen expensive things due to be replaced at the next annual? Once the prepurchase inspection answers this question a market value price can be negotiated.

Bottom line:

Most prices you'll see in the CFO classified or otherwise listed are somewhere between Market and Wishful Thinking value. The Blue Book values shared below will inform you of what the bank will think of your new airplane when you try to treat it like an asset.

But the market value, as always, will require knowledge, an inspection and some work!

Keith Peterson
Cardinal Flyers


Cardinal Bluebook Values (Average Retail Values)
Summer 2015  
    
     
Cardinal RG
Year    Spring 2015		Summer 2015	Change   
1971    $43,000   		$46,000		+7.0%
1972    $44,000   		$47,000		+6.8%
1973    $45,000   		$49,000		+8.9%
1974    $46,000  		$50,000		+8.7%
1975    $47,000   		$51,000		+8.5%
1976    $48,000   		$52,000		+8.3%
1977    $49,000  		$54,000		+10.2%
1978    $50,000  		$56,000		+12.0%
     
Cardinal FG   
Year    Spring 2015		Summer 2015	Change   
1968    $29,000			$31,000		+6.7%
1969    $31,000			$33,000		+6.5%
1970    $32,000			$34,000		+6.1%
1971    $33,000			$35,000		+6.1%
1972    $34,000			$36,000		+5.9%
1973    $35,000			$37,000		+5.7%
1974    $36,000			$38,000		+5.6%
1975    $37,000			$39,000		+5.4%
1976    $38,000			$40,000		+5.3%
1977    $39,000			$41,000		+5.1%
1978    $40,000			$42,000		+5.0%

====================================================

Cardinal Bluebook Values (Average Retail Values)
Winter 2014-2015  
     
Cardinal RG
Year    Summer 2013		Winter 2014-15	Change   
1971    $42,000   		$41,000		-2.4%
1972    $43,000   		$42,000		-2.3%
1973    $44,000   		$43,000		-2.3%
1974    $45,000  		$44,000		-2.2%
1975    $46,000   		$45,000		-2.2%
1976    $47,000   		$46,000		-2.1%
1977    $48,000  		$47,000		-2.1%
1978    $49,000  		$48,000		-2.0%
     
Cardinal FG   
Year    Summer 2013		Winter 2014-15	Change   
1968    $32,000			$29,000		-9.4%
1969    $33,000			$31,000		-6.1%	
1970    $34,000			$32,000		-5.9%
1971    $35,000			$33,000		-5.7%
1972    $36,000			$34,000		-5.6%
1973    $37,000			$35,000		-5.4%
1974    $38,000			$36,000		-5.3%
1975    $39,000			$37,000		-5.1%
1976    $40,000			$38,000		-5.0%
1977    $41,000			$39,000		-4.9%
1978    $42,000			$40,000		-4.8%



Summer 2013

Cardinal RG

Year    Winter 2012 Summer 2013 Change   

1971    $42,000    $42,000 No Change
1972    $43,000    $43,000 No Change
1973    $44,000    $44,000 No Change
1974    $45,000   $45,000 No Change
1975    $46,000    $46,000 No Change
1976    $47,000    $47,000 No Change
1977    $48,000   $48,000 No Change
1978    $49,000   $49,000 No Change

Cardinal FG   

Year    Winter 2012 Summer 2013 Change   

1968    $32,000 $32,000 No Change
1969    $33,000 $33,000 No Change
1970    $34,000 $34,000 No Change
1971    $35,000 $35,000 No Change
1972    $36,000 $36,000 No Change
1973    $37,000 $37,000 No Change
1974    $38,000 $38,000 No Change
1975    $39,000 $39,000 No Change
1976    $40,000 $40,000 No Change
1977    $41,000 $41,000 No Change
1978    $42,000 $42,000 No Change

========================================================================

Cardinal Bluebook Values (Average Retail Values)
Fall 2012   
     
     
Cardinal RG
Year    Spring 2012		Fall 2012	Change   
1971    $43,000   		$42,000		-2.3%
1972    $44,000   		$43,000		-2.3%
1973    $45,000   		$44,000		-2.2%
1974    $46,000  		$45,000		-2.2%
1975    $47,000   		$46,000		-2.1%
1976    $48,000   		$47,000		-2.1%
1977    $49,000  		$48,000		-2.0%
1978    $50,000  		$49,000		-2.0%
     
Cardinal FG   
Year    Spring 2012		Fall 2012	Change   
1968    $33,000			$32,000		-3.0%
1969    $34,000			$33,000		-2.9%	
1970    $35,000			$34,000		-2.9%
1971    $36,000			$35,000		-2.8%
1972    $37,000			$36,000		-2.7%
1973    $38,000			$37,000		-2.6%
1974    $39,000			$38,000		-2.6%
1975    $40,000			$39,000		-2.5%
1976    $41,000			$40,000		-2.4%
1977    $42,000			$41,000		-2.4%
1978    $43,000			$42,000		-2.3%

===============================================================================

Cardinal Bluebook Values (Average Retail Values)
Spring 2012   
          
Cardinal RG
Year    Winter 2011-12		Spring 2012	Change   
1971    $43,000   		$43,000		No Change
1972    $44,000   		$44,000		No Change
1973    $45,000   		$45,000		No Change
1974    $46,000  		$46,000		No Change
1975    $47,000   		$47,000		No Change
1976    $48,000   		$48,000		No Change
1977    $49,000  		$49,000		No Change
1978    $50,000  		$50,000		No Change
     
Cardinal FG   
Year    Winter 2011-12		Spring 2012	Change   
1968    $33,000			$33,000		No Change
1969    $34,000			$34,000		No Change	
1970    $35,000			$35,000		No Change
1971    $36,000			$36,000		No Change
1972    $37,000			$37,000		No Change
1973    $38,000			$38,000		No Change
1974    $39,000			$39,000		No Change
1975    $40,000			$40,000		No Change
1976    $41,000			$41,000		No Change
1977    $42,000			$42,000		No Change
1978    $43,000			$43,000		No Change

===============================================================================

Cardinal Bluebook Values
Fall/Winter 2011-2012   
     
Cardinal RG
Year    Winter 2011-12   
1971    $43,000   
1972    $44,000   
1973    $45,000   
1974    $46,000  
1975    $47,000   
1976    $48,000   
1977    $49,000  
1978    $50,000  
     
Cardinal FG   
Year    Winter 2011-12  
1968    $33,000
1969    $34,000
1970    $35,000
1971    $36,000
1972    $37,000
1973    $38,000
1974    $39,000
1975    $40,000
1976    $41,000
1977    $42,000
1978    $43,000


===============================================================================

Cardinal Bluebook Values

Spring/Summer 2010  

Cardinal RG
Year    Spring 2010	    	Summer 2010	Difference this Quarter   
1971    $40,000                $41,000        +2.50%   
1972    $41,000                $42,000        +2.44%   
1973    $42,000                $43,000        +2.38%   
1974    $43,000                $44,000        +2.33%   
1975    $44,000                $45,000        +2.27%   
1976    $45,000                $46,000        +2.22%   
1977    $46,000                $47,000        +2.17%   
1978    $47,000                $48,000        +2.13%   
     
Cardinal FG   
Year    Spring 2010   		Summer 2010	Difference this quarter  
1968    $30,000                $31,000		+3.33%
1969    $31,000                $32,000		+3.23%
1970    $32,000                $33,000		+3.13%
1971    $33,000                $34,000		+3.03%
1972    $34,000                $35,000		+2.94%
1973    $35,000                $36,000		+2.86%
1974    $36,000                $37,000		+2.77%
1975    $37,000                $38,000		+2.70%
1976    $38,000                $39,000		+2.63%
1977    $39,000                $40,000		+2.56%
1978    $40,000                $41,000		+2.50%

===============================================================================

Cardinal Bluebook Values
Fall/Winter 2009-2010 (Valid until 3/1/10)  
Prepared January 25, 2010   
     
     
Cardinal RG
Year    Fall 2009	    	Winter 2009-10	Difference this Quarter   
1971    $40,000                $40,000        0%   
1972    $41,000                $41,000        0%   
1973    $42,000                $42,000        0%   
1974    $43,000                $43,000        0%   
1975    $44,000                $44,000        0%   
1976    $45,000                $45,000        0%   
1977    $46,000                $46,000        0%   
1978    $47,000                $47,000        0%   
     
Cardinal FG   
Year    Fall 2009   		Fall 2009	Difference this quarter  
1968    $30,000                $30,000		0%
1969    $31,000                $31,000		0%
1970    $32,000                $32,000		0%
1971    $33,000                $33,000		0%
1972    $34,000                $34,000		0%
1973    $35,000                $35,000		0%
1974    $36,000                $36,000		0%
1975    $37,000                $37,000		0%
1976    $38,000                $38,000		0%
1977    $39,000                $39,000		0%
1978    $40,000                $40,000		0%

===============================================================================

Cardinal Bluebook Values
Winter Quarter 2008-09 (Effective December 1, 2008)   
Prepared February 5, 2009   
     
Cardinal RG
Year    Summer 2008   		Winter 2008-09	Difference this Quarter   
1971    $60,000                $45,000        -$15,000   
1972    $61,000                $46,000        -$15,000
1973    $62,000                $47,000        -$15,000
1974    $63,000                $48,000        -$15,000  
1975    $64,000                $49,000        -$15,000   
1976    $65,000                $50,000        -$15,000 
1977    $66,000                $51,000        -$15,000   
1978    $71,000                $52,000        -$19,000   
     
Cardinal FG   
Year    Summer 2008   		Winter 2008-09	Difference this quarter  
1968    $39,000                $35,000		-$4,000
1969    $40,000                $36,000		-$4,000
1970    $41,000                $37,000		-$4,000
1971    $42,000                $38,000		-$4,000
1972    $44,000                $39,000		-$5,000
1973    $45,000                $40,000		-$5,000
1974    $48,000                $41,000		-$7,000
1975    $50,000                $42,000		-$8,000
1976    $52,000                $43,000		-$9,000
1977    $54,000                $44,000		-$10,000
1978    $65,000                $45,000		-$20,000

------------------------------------------------

Cardinal Bluebook Values   
Spring Quarter 2008 (Effective March 1, 2008)   
Prepared February 27, 2008   
    
     
 Cardinal RG   
 Year    Winter 2007-08         Spring 2008            Difference this quarter   
 1971    $60,000                $60,000                0   
 1972    $61,000                $61,000                0   
 1973    $62,000                $62,000                0   
 1974    $63,000                $63,000                0   
 1975    $64,000                $64,000                0   
 1976    $65,000                $65,000                0   
 1977    $66,000                $66,000                0   
 1978    $71,000                $71,000                0   
     
 Cardinal FG   
 Year    Winter 2007-08         Spring 2008            Difference this quarter  
 1968    $39,000                $39,000                0   
 1969    $40,000                $40,000                0   
 1970    $41,000                $41,000                0   
 1971    $42,000                $42,000                0   
 1972    $44,000                $44,000                0   
 1973    $45,000                $45,000                0   
 1974    $48,000                $48,000                0   
 1975    $50,000                $50,000                0   
 1976    $52,000                $52,000                0   
 1977    $54,000                $54,000                0   
 1978    $65,000                $65,000                0   

--------------------------------

Cardinal Bluebook Values
Summer Quarter 2006 (Effective June 1, 2006)
Prepared May 23, 2006


Cardinal RG
Year	Spring 2006		Summer 2006		Difference this quarter
1971	$59,000			$59,000			0
1972	$60,000			$60,000			0
1973	$61,000			$61,000			0
1974	$62,000			$62,000			0
1975	$64,000			$63,000			-$1,000
1976	$67,000			$65,000			-$2,000
1977	$69,000			$67,000			-$1,000
1978	$71,000			$69,000			-$2,000

Cardinal FG
Year	Spring 2006		Summer 2006		Difference this quarter
1968	$39,000			$40,000			$1,000
1969	$44,000			$45,000			$1,000
1970	$46,000			$47,000			$1,000
1971	$48,000			$49,000			$1,000
1972	$50,000			$51,000			$1,000
1973	$51,000			$52,000			$1,000
1974	$52,000			$53,000			$1,000
1975	$54,000			$55,000			$1,000
1976	$56,000			$57,000			$1,000
1977	$58,000			$59,000			$1,000
1978	$61,000			$62,000			$1,000


Cardinal Bluebook Values
Winter Quarter 2004-05 (Effective March 1, 2005)
Prepared: March 15, 2005

Cardinal RG
Year	Winter 2004-5 Spring 05	Difference
1971	$55,000		 $57,000	  $2000
1972	$56,000		 $58,000	  $2000
1973	$57,000		 $59,000	  $2000
1974	$58,000		 $20,000	  $2000
1975	$60,000		 $62,000	  $2000
1976	$63,000		 $65,000	  $2000
1977	$65,000		 $67,000	  $2000
1978	$67,000		 $69,000	  $2000

Cardinal FG
Year	Winter 2004-5 Spring 05	Difference
1968	$35,000		 $37,000	  $2000
1969	$41,000		 $43,000	  $2000
1970	$43,000		 $45,000	  $2000
1971	$44,000		 $46,000	  $2000
1972	$46,000		 $48,000	  $2000
1973	$47,000		 $49,000	  $2000
1974	$49,000		 $50,000	  $1000
1975	$51,000		 $53,000	  $2000
1976	$53,000		 $55,000	  $2000
1977	$55,000		 $57,000	  $2000
1978	$58,000		 $60,000	  $2000

Cardinal Bluebook Values
Winter Quarter 2004-05 (Effective December 1, 2004)
Prepared: December 9, 2004

Cardinal RG
Year	Fall 2004	Winter 2004-05	Difference
1971	$55,000		 $55,000	  $0
1972	$56,000		 $56,000	  $0
1973	$57,000		 $57,000	  $0
1974	$58,000		 $58,000	  $0
1975	$60,000		 $60,000	  $0
1976	$63,000		 $63,000	  $0
1977	$65,000		 $65,000	  $0
1978	$67,000		 $67,000	  $0

Cardinal FG
Year	Fall 2004	Winter 2004-05	Difference
1968	$35,000		 $35,000	  $0
1969	$41,000		 $41,000	  $0
1970	$43,000		 $43,000	  $0
1971	$44,000		 $44,000	  $0
1972	$46,000		 $46,000	  $0
1973	$47,000		 $47,000	  $0
1974	$49,000		 $49,000	  $0
1975	$51,000		 $51,000	  $0
1976	$53,000		 $53,000	  $0
1977	$55,000		 $55,000	  $0
1978	$58,000		 $58,000	  $0

Cardinal Bluebook Values
Summer Quarter 2004-05 (Effective June 1, 2004)
Prepared: June 3, 2004

Cardinal RG
Year	Spring 2004	Summer 2004-05	Difference
1971	$55,000		 $55,000	  $0
1972	$56,000		 $56,000	  $0
1973	$57,000		 $57,000	  $0
1974	$58,000		 $58,000	  $0
1975	$60,000		 $60,000	  $0
1976	$63,000		 $63,000	  $0
1977	$65,000		 $65,000	  $0
1978	$67,000		 $67,000	  $0

Cardinal FG
Year	Spring 2004	Summer 2004-05	Difference
1968	$35,000		 $35,000	  $0
1969	$41,000		 $41,000	  $0
1970	$43,000		 $43,000	  $0
1971	$44,000		 $44,000	  $0
1972	$46,000		 $46,000	  $0
1973	$47,000		 $47,000	  $0
1974	$49,000		 $49,000	  $0
1975	$51,000		 $51,000	  $0
1976	$53,000		 $53,000	  $0
1977	$55,000		 $55,000	  $0
1978	$58,000		 $58,000	  $0


Cardinal Bluebook Values
Fall Quarter 2004 (Effective September 1, 2004)
Prepared September 8, 2004

Cardinal RG
Year	Summer 2004	Fall 2004	Difference
1971	$54,000		$55,000		+ $1,000
1972	$55,000		$56,000		+ $1,000
1973	$56,000		$57,000		+ $1,000
1974	$57,000		$58,000		+ $1,000
1975	$59,000		$60,000		+ $1,000
1976	$62,000		$63,000		+ $1,000
1977	$64,000		$65,000		+ $1,000
1978	$66,000		$67,000		+ $1,000

Cardinal FG
Year	Summer 2004	Fall 2004	Difference
1968	$35,000		$35,000		$0
1969	$41,000		$41,000		$0
1970	$43,000		$43,000		$0
1971	$44,000		$44,000		$0
1972	$46000		$46,000		$0
1973	$47,000		$47,000		$0
1974	$49,000		$49,000		$0
1975	$51,000		$51,000		$0
1976	$53,000		$53,000		$0
1977	$55,000		$55,000		$0
1978	$58,000		$58,000		$0


June 3, 2003

All RGs stayed the same from last quarter and all FGs went up $1,000 each year model.

Bob Leuten
CFO Insurance Contact

Prepared June 3, 2003

Cardinal RG
YearSpring 2003Summer 2003Difference
1971 $56,000 $56,000 $0
1972 $57,000 $57,000 $0
1973 $58,000 $58,000 $0
1974 $59,500 $59,500 $0
1975 $61,500 $61,500 $0
1976 $64,000 $64,000 $0
1977 $66,000 $66,000 $0
1978 $68,500 $68,500 $0

Cardinal FG
YearSpring 2003Summer 2003Difference
1968 $36,000 $37,000 $1,000
1969 $42,000 $43,000 $1,000
1970 $44,000 $45,000 $1,000
1971 $45,000 $46,000 $1,000
1972 $47,000 $48,000 $1,000
1973 $48,000 $49,000 $1,000
1974 $50,000 $51,000 $1,000
1975 $52,000 $53,000 $1,000
1976 $54,000 $55,000 $1,000
1977 $56,000 $57,000 $1,000
1978 $59,000 $60,000 $1,000



History:

Feb 28, 2002

All models of the Cessna Cardinal series aircraft have took a big hit in Bluebook values, dropping exactly $4,000 each for the Spring quarter beginning March 1, 2002.

The last time the Cardinal line showed these type of numbers was in the Fall, 2000.

Bob Leuten
CFO Insurance Contact

Prepared February 28, 2002



Cardinal RG
YearWinter 2001 - 2002Spring 2002Percent Change
1971$61,000$57,000
1972$62,000$58,000-7%
1973$63,000$59,000-6%
1974$64,500$60,500-6%
1975$66,500$62,500-6%
1976$69,000$65,000-6%
1977$71,000$67,000-6%
1978$73,500$69,500-5%

Cardinal FG
YearWinter 2001-2002Spring 2002Percent Change
1968$38,500$34,500-10%
1969$48,500$44,500-8%
1970$50,000$46,000-8%
1971$51,500$47,500-8%
1972$53,000$49,000-8%
1973$54,500$50,500-7%
1974$56,500$52,500-7%
1975$58,500$54,500-7%
1976$60,500$56,500-7%
1977$62,500$58,500-6%
1978$65,000$61,000-6%



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