To upgrade or not to upgrade... resale?

This is entirely self serving. For those who haven't seen my prior postings, I purchased a damaged RV-6 to fix and sell aka... 'thougthful' (what would Van do?) flip. I wanted to solicit the group opinion.

Right now, it sits ready for annual as a freshly re-painted bare-bones repair and with minimal upgrades to a basic day/night VFR RV-6 fixed pitch wood prop O-320 150hp. I purchased gently-used upgrades along the theme of building a good cross-country cruiser with minimal IFR capabilities... like pop through a fog layer or drive through a high cirrus. But I've run out of time. The upgrades include;

• Appollo GTX-60 IFR Approach/Enroute GPS
• 2-Axis Tru-Trak Pictoral Pilot w/Nav coupling and Alt hold
• GTX 330 Transponder (not yet ADS-B upgraded + $1,200)

Unless I put a metal prop on it, I'm thinking I should just forget all this and move on, I'll never see the price in the resale. Do any or all of these make retail sense, what do you all think?

You rock!

My 2 cents...

Less is more.

I bought an already-flying RV (recently built, but builder had lost his medical) that lacked paint, a finished-out interior and an IFR-ready panel.

Completing these items, while not nearly the task that building an airplane is, allowed me to put my "thumbprint" on my bird and outfit it exactly as I wanted and was loads of fun in planning and executing.

My rec would be to give your future buyer as many of those same options as you could...besides, I don't think there will be much ROI to you of accomplishing them, as you noted.

Rob

+1 With Aggie!

I bought an older -6A (four previous owners) that had "good bones/teeth" -- 180HP, CS, a decent paint job, and any damage history properly repaired.

Low initial price was important. I have since "made it my own" by upgrading the aircraft in several ways (and dollars), but the end result will be that the airplane will be what I want.

Ron

In most cases, upgrades increase salability and widen the market, but not enough price increase to cover the cost.

Of course, like anything else, there are always exceptions. It really comes down to a judgement call.

this is just me, I wouldn't even considered a rebuilt wrecked airplane, now that's just me.
fred

I love those who would never consider a rebuilt wrecked aircraft originally built in 1996, which was repaired correctly, but they will sure as heck jump on a freshly "restored" aircraft from 1946. It's a mental thing. As long as work was done correctly and the appropriate parts were replaced (correctly) it's a non-event. I would sell it with what it has and let the new owner go crazy.

Given the amount of general maintenance and cleanup I did. And that I replaced with new every bent part and freshly painted. It's far better than before the accident. But to each his own.

Timberwolf said:

I love those who would never consider a rebuilt wrecked aircraft originally built in 1996, which was repaired correctly, but they will sure as heck jump on a freshly "restored" aircraft from 1946. It's a mental thing. As long as work was done correctly and the appropriate parts were replaced (correctly) it's a non-event.

Click to expand...

I personally agree completely, but the market at large does not based on my experience. Even damage on a certified bird does not affect resale value as much as on an experimental. Maybe that's because a certified mechanic must do the work on the certifued plane. It's the perceived value that is affected, but the perceived value is where the buyer bases their offer.

I can see the perception, but I have seen quite a few jobs on certified that are a heck of a lot scarier than experimental repairs. I'll be happy to get a great deal as opposed to paying $20K more just because it had the same crappy build quality that the original builder put into it. I've gotten several great planes at GREAT prices that have had such a history. Remember, they weren't repaired and completely rebuilt, they were "restored".

Price it right and it will sell. I wouldn't invest any time in upgrades. Part of the appeal of buying a previously damaged airplane is getting a good deal. I wouldn't hesitate buying a properly repaired airplane if the price was right. However, don't expect the same money, even with all things equal, to an airplane with no damage history. It is a buyers market and there are lots of choices. You also narrow the prospective buyer pool as some simply will not consider a "damage history" airplane as you are finding out, regardless of any reasoning otherwise.
Good luck.