Overview:
Mooney price is very consistent based on the year and condition of the aircraft. Aircraft price takes many factors into account such as: Model of the aircraft, Engine time and condition, Avionics, Interior and paint, Any modifications, Prior loss history, typically 10% reduction in price.
Mooney Year and Model
The year and model of the Mooney is used as a base to begin determining today’s value of each aircraft. With slight variations and model changes throughout the years and different planes in significantly different condition, values can vary quite wildly. As a base a 1955 Mooney Mark 20, has an average retail price of $18,750 as of November 2019. A 1975 Mooney M20F, has an average retail value of $55,500. Finally, a 2008 Mooney M20R Ovation 2 GX has an average retail price of $290,000.
Engine Time
Mooney’s come with a variety of Lycoming/Continental engines that have a TBO (time before overhaul) of 2,000 hours. Getting the aircrafts (SMOH) Time since major overhaul is a major factor affecting the price. If the SMOH is 1,400-1,500 hours, you may be in for an expensive ($20,000-$25,000) engine overhaul expense after only a few hundred hours of use.
Airframe Time (TTAF)
Total Airframe Time is a good indicator of how heavy the aircraft has been used during it’s lifetime. Airframes with high TTAF, 6,000-7,000 hours plus, are considered to be less valuable due to the amount of time on the aircraft. For The basic rule of thumb for Mooney TTAF is an average of 121 hours/year. Based on the age of the Mooney, you can use this benchmark to calculate the desirable TTAF.
Avionics
Avionics and upgrades can significantly impact the value of a Mooney. Panel upgrades, GPS, Autopilot, ADS-B installation, etc can all increase the value of the Mooney. The best case is to obtain an equipment list or installation and upgrade history to help justify the value of the additional avionics.
Interior and Paint
Aircraft interiors are typically given a 1-10 based on a grading scale. New or mint condition interiors can increase the value of a Mooney by $8,000-$11,000. Paint is also graded on a scale, new paint jobs can add $8,000-$11,000 to the value.
Prior Loss History
A lot of Mooney’s have had losses or been in accidents. This is due to the aircrafts age and is also a testament to the aircraft’s durability and longevity. Depending on the incident and level of damage, having loss history will typically decrease the value of the Mooney by 10-20%.
