Fair price for -5 kit?

[flypdx]

Hello all. I'm looking for an idea of worth for series -5 kit with an -200 core. Unfinished and not worked on for almost 10 years. Ordered with all options but does not include cowling.

What is a fair price? Anything to watch for with this model?

Thank you

Jeff

[jtpitkin06]

Jeff,

You ask if there are things to look out for in the model 5. Nothing jumps out specific to the model 5 as the aircraft is a proven design. However, there are always things to look out for on partially completed kits.

Documentation of origin: You should make sure you have a paper trail for the FAA. A bill of sale from the kit manufacturer to the original and all subsequent purchasers is very important. Without it registration is not impossible, but much more difficult and should affect the price in my opinion.

Documentation of construction: A log book or record of construction is also important. At some point you need to prove the aircraft was amateur built and 51% was done by you or another amateur.

Verification of work: This is inspection and detective work. You need to confirm all work done up to this point was done completely and correctly. This means all hardware is as specified. Dimensions, angles and rigging need to be checked. You likely will need to disassemble all components. In simple terms, trust no one. Verify everything.

For partially completed kits there is a funny price curve depending on the amount of work done. A complete kit un-built and untouched with everything still in factory boxes is worth about 90% of the purchase price if it is still in production. An untouched kit aircraft, out of production and from a defunct company is worth about 60% the cost of new. The model 5 is a special case because the basic aircraft is still in production as the model 7, but an older kit is not from Kitfox LCC. There is enough similarity and support that the value is probably closer to 75%.

Once kit construction is started a strange thing happens… The value plummets. Usually down to 50%, or so. It should be noted that an uncovered airplane is worth more than covered because it is easier to inspect. Then as construction gets closer to completion, the value slowly climbs as accessories and extras are added.

As for the engine, a Continental O-200 core is worth about $2500 to $10,000. Why the big spread? Does it have logs? Why was it removed? What is the condition. Did it have a prop strike? Does it have accessories, i.e. mags, alternator, starter, vacuum pump, oil tank, carburetor, baffling, and muffler?

Partially completed kits, with and without engines, come on the market fairly frequently. If you buy the kit, build it, and take it on its first flight, the price difference between retail and a super deep discount will quickly fade from memory. Ultimately, the value is really what you put on it.



Haggle for the lowest price, fork over the dough and load it into a trailer. Then take it home and enjoy the build.


John Pitkin
Greenville, TX

[flypdx]

John-

That is a very helpful reply- and more guidance than I could have hoped for!

Thank you for taking the time.

Jeff