Friday, December 19, 2008
The 'for sale" sign
I've put 7 -- almost 8 -- years of work into the RV-7A project and I intend to continue working on it, but I have to prepare for the obvious -- that I'll have to sell it. The economy is bad -- a dozen folks got gassed at my place today and more are due -- my health and that of my wife have been deteriorating to the point where it's obvious my plans for how we'd spend our senior years are not in sync and not really possible, and the economy has pretty much destroyed our retirement funds and although there's enough time before we retire (I hope) to get them back where they were, there's nowhere near enough time for the fund to get anywhere near our being able to live at the level we'd hoped.
I'd hoped to be able to finance the engine purchase but that hasn't worked out well either and this is not a good time to carry debt.
I've sketched out roughly what I've put into it and that's what I'd likely sell it for -- what I put into it. No profit, no charge for the work and no discount.
Here's what I've put into it:
Tru Trak single axis autopilot = $1,500
Icom A210 Radio - $1,200
Artex 406 mxh ELT - $950
Whelen System 6 Strobe package - $950
GRT EIS - $1500
VP-50 - $1,500
Dynon D100 Super Bright pkg - $2500
Garmin 327 Transponder $2,300
Airflow high-performance boost pump - $415
Equipment Subtotal --> $12,815
Seats (Flightline) $507
Hooker harness w/ crotch strap - $750
Oregon aero cushion core -$580
Interior subtotal -->$1,837
Mattituck IO-360 FP engine (but can be a CS) fuel injected with one Lightspeed ignition - $24,500
Engine subtotal --> $24,500
On landing gear (nosewheel breakout force has not been set), canopy frame is done and the front fairing completed. Tip-up. Tops skins not riveted on (I need access to the tail). 1,800 hours of work invested so far
I get about $60,000 in my calculation and that's about what I'd sell the project for. No tools are included because I need to hang onto the hope that I can build an RV-12 and do the kind of flying that I'm more likely to be doing -- by myself, in the daytime, in the vicinity of the airport.
Alternatively, I'd consider taking on a partner in the plane, although I have to admit I have no idea how such a partnership works. So you'll have to supply the brains.
If you'd like to take a look at things, I would encourage you to plan to come up to the hangar at South St. Paul (KSGS) and assess it for yourself.
Like I said, I'm not anxious to sell it and cash out, but at the moment I'm willing to and I probably should before I absolutely have to.