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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
NOTE THAT THESE NUMBERS ARE VERY OLD... They are currently not being updated.
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
|
Year | Spring 2003 | Summer 2003 | Difference |
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 |
|