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Anyone ever bid on an AIG salvage aircraft?

looks like??

That looks like the one 'Monk' bought months ago. No Idea what he gave for it.
 
I have bid 2 times. I have no idea what they went for, but I didn't get'em. You have to figure out what it's worth to you. I went by being somewhat conservative, and using a "what if" type senario. Like, what if the crank is bad, what if the prop is bad, etc. The cost of retrieving it if you win. If it were close and you could look at it, you could really come up with a better, more realistic assesment of what it's worth. It's the little things where you would make out like a bandit. All the nickel and dime ya to death stuff. And then there's the stuff you don't want could go on ebay. I bid on a RV-6 that had landed long and took off a wing with a tree. I bid about 10K. Without being able to look at it, I had to go with a "worst case" guess :confused:

This is a totally clueless guess, but I bet with a 530, the 200 hp engine and prop it gets about 40K. I'd love to be able to know what they get for all of those planes.
 
Take note where the aircraft is located...it's already at a salvor. He's making money on storage there also, which if they do a lot of business with the insurer will work a deal to roll (read knock off) storage costs into the salvage offer. The winning bidder usually needs to pay those costs and that can get really pricey sometimes. Buying and parting aircraft, cars, anthing that has salvage value is their business. They know what the insurance company is looking for. When I was doing auto claims I would ask for a bid from several salvage yards, they were always real close to each other, almost to the point I wondered about collusion between the shops. Never saw any evidence and I'm speaking strictly off the cuff, it was just uncanny how close three different companys would be. Making money on salvage is their business...and they know it well. If you manage to win a bid, experience tells me you paid too much. I always allowed the owner to to match any offer of salvage but that can vary by insurance company since once you accept the check, it's theirs to do with as they please.
 
Rick S. said:
Take note where the aircraft is located...it's already at a salvor. He's making money on storage there also, which if they do a lot of business with the insurer will work a deal to roll (read knock off) storage costs into the salvage offer. The winning bidder usually needs to pay those costs and that can get really pricey sometimes.
Click to expand...

Actually, the insurer generally pays all storage fees up to the day the auction closes (or some date specified in the auction after the close). I have bid on a number of salvage airplanes over the years (never won any but missed one by just $53). All reputable insurance companies (thats generally who is running the auctions) pays all costs up until the point in time that you technically become the owner. After that all storage fees, etc. are charged to you.

I very much agree that it is difficult to out bid the commercial salvage yards like Wentworth, etc (at least for certificated aircraft). I believe (but can't prove) that they don't tend to bid as high (if they do at all) for experimental aircraft because there is not nearly as big of a resale market for the major airframe parts (they would be bidding more on what the avionics and engine are worth) In fact it is quite common to see them advertising a damage airframe minus avionics and engine, after selling them separately.
 
[I am the person who is responsible for that plane being on the salvage list.
Yes It has a ton of goodies. The 530 is waas capable. The engine and prop are almost new and everything on the aircraft was quality. Unofrtunately I groundlooped it with bad results.
Here are some of the goodies.
Trutrak DFC 250 A/P, PS Engineering 6000MS Audio panel/intervcom, Vision microsystems VM1000 with aural warning, Andair fuel selectors and Gascolators on each tank. The plane was in excellent shape. What will it go for?

According to the guys who dismantled the wings. Could be 50,000 up to 70,000, POSSIBLY! The feeling is people overbid. If You want to buy 2 wings, a new fuselage and use everything else from the wreckage, it might be a good deal,. It alll depends on how much you value your time.

Concerning the price. The insurance company will keep it on the bid table until May 2nd., Then the highest bidder gets it. They will not give me right of first refusal. Also. they will not say what the winning bid is.

Jim Corley


There is an RV8 on there that looks like it has a ton of goodies that could be salvaged including the engine and maybe even the prop, heck theres even a G530...

Just trying to get a feel for what something like that would go for.

http://www.aigaviation.com/aviationsalvage/salvagedetail.aspx?faano=N781RV[/QUOTE]
 
Last edited:
jimcorley said:
[I am the person who is responsible for that plane being on the salvage list.
Yes It has a ton of goodies. The 530 is waas capable. The engine and prop are almost new and everything on the aircraft was quality. Unofrtunately I groundlooped it with bad results.
Here are some of the goodies.
Trutrak DFC 250 A/P, PS Engineering 6000MS Audio panel/intervcom, Vision microsystems VM1000 with aural warning, Andair fuel selectors and Gascolators on each tank. The plane was in excellent shape. What will it go for?

According to the guys who dismantled the wings. Could be 50,000 up to 70,000, POSSIBLY! The feeling is people overbid. If You want to buy 2 wings, a new fuselage and use everything else from the wreckage, it might be a good deal,. It alll depends on how much you value your time.

Concerning the price. The insurance company will keep it on the bid table until May 2nd., Then the highest bidder gets it. They will not give me right of first refusal. Also. they will not say what the winning bid is.

Jim Corley


There is an RV8 on there that looks like it has a ton of goodies that could be salvaged including the engine and maybe even the prop, heck theres even a G530...

Just trying to get a feel for what something like that would go for.

http://www.aigaviation.com/aviationsalvage/salvagedetail.aspx?faano=N781RV
Click to expand...
[/QUOTE]

Hi Jim,

Nice of you check in and let anyone interested know about the incident.

I saw your name on the "owner" list along with 3 other guys in the FAA data base but did not have your phone number or e-mail address anymore. Do you think the engine was damaged with the prop ding?

Jan Eggenfellner and I flew into Spruce Creek 2 years ago to visit Bob Bean regarding some welding. I think you were gone that day. Good to hear you are still among the living. :)
 
Dave. My Email is [email protected]. Doubt that the engine or prop have any serious damage.



Hi Jim,

Nice of you check in and let anyone interested know about the incident.

I saw your name on the "owner" list along with 3 other guys in the FAA data base but did not have your phone number or e-mail address anymore. Do you think the engine was damaged with the prop ding?

Jan Eggenfellner and I flew into Spruce Creek 2 years ago to visit Bob Bean regarding some welding. I think you were gone that day. Good to hear you are still among the living. :)[/QUOTE]
 
Off Airport & short

on Kathryns Report: Possible engine out and returning to airport but 100 yards short. No Injuries. 6/16/21
 
I must be the glass is half empty kind of guy, because the only things I see of value in the pile are some avionics, and an engine core. Probably a couple of seats also.
 
ENGINE LOGBOOK IS LOCATED AT THE SALVAGE OFFICE AND CAN NOT BE INSPECTED,COPIED, OR OTHERWISE INTERPRETED BY THE HANDLING ADJUSTOR DUE TOTHE COVID-19 PANDEMIC.

That's a highly radioactive logbook. Must be the new Beta Sigma variant. :eek:
 
climberrn said:
I must be the glass is half empty kind of guy, because the only things I see of value in the pile are some avionics, and an engine core. Probably a couple of seats also.
Click to expand...

I bid on one or two.

I only see avionics in the -10. The engine core has a lot of hours and I would not expect it to be a core that I would want to rebuild.
 
RV6_flyer said:
I bid on one or two.

I only see avionics in the -10. The engine core has a lot of hours and I would not expect it to be a core that I would want to rebuild.
Click to expand...
Watch out - that duct tape over the avionics bay tells me that someone might have gone in there and removed some valuable stuff.
 
my guess is that they havent. that "hanger" at DAS only has doors that go about 1/2 up. I bet they taped it up to make sure no water gets in there when it rains.

bob burns
RV-4 N82RB
 
Small Correction.....

n82rb said:
my guess is that they havent. that "hanger" at DAS only has doors that go about 1/2 up. I bet they taped it up to make sure no water gets in there when it rains.
bob burns
RV-4 N82RB
Click to expand...

That would be ASOD.
 
Rebuilds

I have purchased a damaged certified aircraft from Old Republic. One thing they did which is no where in their published information is they wrote in each log book "Salvage Only not economically repairable" or something to that effect. Plane was certainly economically repairable for me but now I have a log book entry that will forever dog the plane and engine.
 
AIG

I’ve bid on a couple over the years . Last summer I won the bid on a Luscombe located in Arizona. I happen to be in Colorado when they called so I rode down to Arizona to take a look at my new plane .
I bid accordingly after reading the accident report and damage on the AIG website….said “ Aircraft lost brakes and taxied into another airplane “ . The website showed leading edge damage to the RH leading edge .
I spoke with the owner when I arrive at the airport in Arizona… he explained the accident and showed me pictures. He lost a brake and taxied into and almost cutting a Bonanza in half with his prop . The pics showed his prop stuck in the bonanza ! .
No mention of a Prop Strike on AIGs site , clearly misrepresented .
I informed AIG that I’d be happy to rebid the plane if they re listed it with the real story and damage. Told them EBay and Craigs List have more honest listening…
Buyer Beware
 
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