Cessna 172M Value

[Fishizl]

hey folks, looking at purchasing a 172M soon and trying to determine pricing. The only I'm honing in on has around 3800TT, 8/10 paint, 4/10 interior, no damage history or corrosion, engine is at 2200hrs, avionics are basically original. Airframe is straight, all AD's up to date. I know what the VREF says the value is worth, but in this market what would you realistically estimate this plane to be worth?

[digits_]

Before covid, that would probably have been a 40k airplane. Right now I can see people asking 70k for it.

Either way, why buy a 172? Lots of other capable airplanes out there for less money, or more capable ones for the same price.

It's likely airplane prices will come down again in the next few months, so I wouldn't overpay.

[Fishizl]

Before covid, that would probably have been a 40k airplane. Right now I can see people asking 70k for it.

Either way, why buy a 172? Lots of other capable airplanes out there for less money, or more capable ones for the same price.

It's likely airplane prices will come down again in the next few months, so I wouldn't overpay.

Do you have experience buying/selling aircraft or is this your opinion on what the market place cost is for this AC. big difference.

[digits_]

Before covid, that would probably have been a 40k airplane. Right now I can see people asking 70k for it.

Either way, why buy a 172? Lots of other capable airplanes out there for less money, or more capable ones for the same price.

It's likely airplane prices will come down again in the next few months, so I wouldn't overpay.

Do you have experience buying/selling aircraft or is this your opinion on what the market place cost is for this AC. big difference.

I take it you didn't like my numbers?

Honestly, go on kijij and barnstormers, and look for similar aircraft, preferably based in Canada. Small single engine aircraft in Canada usually go for a bit less than the US aircraft. A 70k USD airplane would likely sell for 80k CAD in Canada. But those are all rules of thumbs.

I've followed the used airplane market very closely the past few years. Covid made popular models go up in price a lot. Especially small Cessnas and Pipers, even some Mooneys.

There's no way I would consider buying a C172 as a private airplane right now. The engine is also past TBO. Can you even get a new engine if you need it? Lead time for new oil filters is about 3 monts at the moment.

[Bede]

Do you have experience buying/selling aircraft or is this your opinion on what the market place cost is for this AC. big difference.

Maybe I'm reading you wrong but it seems that you're coming on this forum asking for advice based on minimal information and don't like the (free) answer.
If you don't like vref or anonymous posters here, why don't you go and get an appraisal?

[photofly]

Before covid, that would probably have been a 40k airplane. Right now I can see people asking 70k for it.

I think your value is right, but it's not a COVID thing - that would have been the price in late 2019 too. 172Ms are and will remain in strong demand by flight schools, for whom a timed out engine is actually a plus.

Small single engine aircraft in Canada usually go for a bit less than the US aircraft. A 70k USD airplane would likely sell for 80k CAD in Canada.

Interesting. I usually find Canadian aircraft are more expensive than US aircraft, but the difference isn't quite as much as the extra cost of importing one. However there's a lot more choice in the US, and some aircraft of quality. Canadian aircraft at that end of the market are usually dogs.

Do you have experience buying/selling aircraft

Yes.

[photofly]

I just did a quick search on controller.com and found the following 172 models for sale in canada:


1956 CESSNA 172 SKYHAWK
Piston Single Aircraft
Price:USD $67,000


1976 CESSNA 172M SKYHAWK
Piston Single Aircraft
Price:USD $184,900

1976 CESSNA 172M SKYHAWK
Piston Single Aircraft
Price:USD $65,663

1977 CESSNA 172N SKYHAWK
Piston Single Aircraft
Price:USD $109,950

1977 CESSNA 172N SKYHAWK
Piston Single Aircraft
Price:USD $115,000

1977 CESSNA 172N SKYHAWK
Piston Single Aircraft
Price:USD $128,900

Those are asking prices, of course, and those are the ones that haven't sold - not the ones that have - so I think digits_'s valuation is about right, or perhaps a bit light.

[CpnCrunch]

Vref is accurate...just convert to C$ and that is the market price. And yes, I bought a 172N in 2020. Well priced aircraft in good condition sell fast, so don't waste your time trying to lowball. When you see what you want at a good price, go for it.

172s are a great (albeit overpriced) private aircraft. They are cheap and easy to maintain and insure (about $2k insurance vs 5-6k for a Bonanza) and are easy to sell again. It would just be nice to have a bit more off-field capability, and be a bit faster.

[digits_]

So what's the Vref value for this particular airplane?

[digits_]

I just did a quick search on controller.com and found the following 172 models for sale in canada:

Another rule of thumb that's being mentioned here and there online, is that Controller.com airplanes are usually at least 10% overpriced.

I've often found that to be correct. If you compare different aircraft on controller vs the rest of the market, they do tend to be be more expensive. But then again, comparing different aircraft is often difficult to do.

Controller seems to focus more on (ex)-commercial aircraft. If you want to buy an airplane today, Controller might offer some good options.
If you're looking for a good deal, I think it's unlikely you'll find that on Controller.

[JasonE]

I would wait if I were you. The economy is starting to crash with inflation. Anyone who owes money on things shortly will be looking to lighten the load....

[rookiepilot]

I would wait if I were you. The economy is starting to crash with inflation. Anyone who owes money on things shortly will be looking to lighten the load....

"Yup".

[Fishizl]

Before covid, that would probably have been a 40k airplane. Right now I can see people asking 70k for it.

Either way, why buy a 172? Lots of other capable airplanes out there for less money, or more capable ones for the same price.

It's likely airplane prices will come down again in the next few months, so I wouldn't overpay.

Do you have experience buying/selling aircraft or is this your opinion on what the market place cost is for this AC. big difference.

I take it you didn't like my numbers?

Honestly, go on kijij and barnstormers, and look for similar aircraft, preferably based in Canada. Small single engine aircraft in Canada usually go for a bit less than the US aircraft. A 70k USD airplane would likely sell for 80k CAD in Canada. But those are all rules of thumbs.

I've followed the used airplane market very closely the past few years. Covid made popular models go up in price a lot. Especially small Cessnas and Pipers, even some Mooneys.

There's no way I would consider buying a C172 as a private airplane right now. The engine is also past TBO. Can you even get a new engine if you need it? Lead time for new oil filters is about 3 monts at the moment.

No, I actually love your numbers !! Just not sure how you came up with those figures. I've been in contact with AME's, flightschools and a couple of people close to the market and your numbers are far lower than anyone I've talked with. Even your pre-covid valuation of 40k seems way low. That's why I'm asking if it was your opinion or are you going by actual market experience...which is now obvious, you are going by what you think the pricing should be.

[Fishizl]

Do you have experience buying/selling aircraft or is this your opinion on what the market place cost is for this AC. big difference.

Maybe I'm reading you wrong but it seems that you're coming on this forum asking for advice based on minimal information and don't like the (free) answer.
If you don't like vref or anonymous posters here, why don't you go and get an appraisal?

Just trying to refine what the pricing is these days, vref is a good guide and an appraisal is really subject, just like real-estate. Nowhere did I say I didn't like vref or anonymous posts so why make these assumptions in the first place?

[Fishizl]

Vref is accurate...just convert to C$ and that is the market price. And yes, I bought a 172N in 2020. Well priced aircraft in good condition sell fast, so don't waste your time trying to lowball. When you see what you want at a good price, go for it.

172s are a great (albeit overpriced) private aircraft. They are cheap and easy to maintain and insure (about $2k insurance vs 5-6k for a Bonanza) and are easy to sell again. It would just be nice to have a bit more off-field capability, and be a bit faster.

Agreed. That's why I'm looking at the M model as well, they should hold their value, especially low time ones with a clean history.

[Fishizl]

I would wait if I were you. The economy is starting to crash with inflation. Anyone who owes money on things shortly will be looking to lighten the load....

The economy and interest are the wild cards for sure.

[Fishizl]

I just did a quick search on controller.com and found the following 172 models for sale in canada:

Another rule of thumb that's being mentioned here and there online, is that Controller.com airplanes are usually at least 10% overpriced.

I've often found that to be correct. If you compare different aircraft on controller vs the rest of the market, they do tend to be be more expensive. But then again, comparing different aircraft is often difficult to do.

Controller seems to focus more on (ex)-commercial aircraft. If you want to buy an airplane today, Controller might offer some good options.
If you're looking for a good deal, I think it's unlikely you'll find that on Controller.

I'm looking at controller, hanger67, barnstormers, kijiji, aircraftcanada, you name it...

[Fishizl]

So what's the Vref value for this particular airplane?

114,000USD

[photofly]

A plane doesn't have a "value" until the day it's sold, at which point its value is whatever it was sold for.

Just remember when you look on these sites, you're looking at the ones that haven't sold - and are therefore priced higher than what anyone wants to pay for them. The ones that are priced at a value someone wants to pay don't on average hang around long enough for you to find them.

I would wait if I were you. The economy is starting to crash with inflation. Anyone who owes money on things shortly will be looking to lighten the load....

I don't think many people buy a crappy 172 on tick. You'll see a lot of private jets go cheap, but at the bottom end of the market nothing will change. Private bet: in a year's time, those 172s will still be around at the same price, or higher. And in two years. And in five.

[dash8dave]

1956 CESSNA 172 SKYHAWK
Piston Single Aircraft
Price:USD $67,000

1976 CESSNA 172M SKYHAWK
Piston Single Aircraft
Price:USD $184,900

1976 CESSNA 172M SKYHAWK
Piston Single Aircraft
Price:USD $65,663

1977 CESSNA 172N SKYHAWK
Piston Single Aircraft
Price:USD $109,950

1977 CESSNA 172N SKYHAWK
Piston Single Aircraft
Price:USD $115,000

1977 CESSNA 172N SKYHAWK
Piston Single Aircraft
Price:USD $128,900

Its hard to believe that if the luxury vehicle tax goes into place as is being discussed 4 of those 6 aircraft will be 'luxury' vehicles due to the $100,000 limit.