Selling my 1946 BC12-D

[Joel Severinghaus]

I'm blinking back tears as I write this, but it's time to sell my BC12-D NC96130, serial no. 8430, manufactured May 1946. Proceeds from her sale will be the down payment on a new Light Sport that I can use for flight instruction and more comfortable cross-country travel with my wife.

$67,135
(which is less than I've spent on her restoration)

airframe total time 2301 hours
engine total time 1680 (Continental A-65-8)
engine since major overhaul 62
propeller since new 62 (Sensenich W72CK40 wood climb prop)
fabric since new 166 (Stits Polyfiber, "Taylorcraft Ivory" & AN Blue Polytone)
empty weight 793 pounds, gross weight 1200 pounds
original vented lift struts, ultrasonic re-inspection due Nov. 2011

Bronze Lindy winner Oshkosh 2007 and 2008
Cover story in Vintage magazine Feb. 2008

Not just a BC12-D, but an award-winning Light Sport meticulously restored to factory original, with a freshly overhauled engine, that will need nothing but oil changes and annual inspections for years to come. Price includes a pickup-truckload of accessories and reference materials. All logbooks back to factory test flight in 1946.

Please email me directly for spec sheets and details: [email protected].

Yes, I know I'll regret selling her. I just hope to sell her to someone who'll appreciate and enjoy her as much as I have...

[Robert Lees]

Re: Selling my 1946 BC12-D

I'm not surprised, Joel, I have to confess, although I might disagree with your decision.

Rob

[Larry Lyons]

Re: Selling my 1946 BC12-D

I have seen her and she's definetly one of a kind Joel, good luck.
Larry

[Joel Severinghaus]

Re: Selling my 1946 BC12-D

I did give right of first refusal to the son of a previous owner in North Dakota. He'd love to have her back, but he's now also in the process of selling his own plane -- I didn't ask whether it was for health or financial reasons.

One of my Iowa Taylorcraft gurus predicted that my asking price will shock Forum readers, but hopes it might help boost the price of all our old Taylorcrafts, which now qualify as LSAs, after all. Taylorcrafts really should be selling for more than Cubs, Champs, or Luscombes, shouldn't they?

And having repaired, refurbished, or replaced just about everything on my plane to restore it to factory-original, I think it can be fairly priced in comparison to a new LSA, rather than at what most Taylorcrafts sell for these days.

I've saved my Oshkosh judging restoration documentation notebooks as pdf files for emailing, if you want to see why I think she's worth so much...

[barnstmr]

Re: Selling my 1946 BC12-D

Joel,
I met you and saw your airplane at Blakesburg in '07. You certainly do have a pretty little Taylorcraft and you deserve all of the accolades and awards for the fine workmanship and attention to detail. It is an outstanding airplane. And, you do seem like an honest and upstanding gentleman. Now, with all due respect, and as sincerely as I can be... I must ask you... Do you actually believe this 65 hp/wood prop Tcraft is worth that much? Good Grief!... in this economy, I am pretty sure there are a lot of good-solid 100 hp full electric Tcrafts out there available for less than half that figure. You could probably buy an IFR equipped / 160 mph airplane for less than your price. I am not trying to run you down.. and not trying to hold our airplane values back, but c'mon? Get Real... and just expect that you'll probably still be holding that title 20 years from now it you stick to your asking price. Or.. perhaps that's your intent...

My Humble Opinion.

[mulwyk]

Re: Selling my 1946 BC12-D

Yes, Joel, I'm shocked by your asking price. Happily shocked. I'd like to see more T-Craft priced like what they're worth.

[Hank Jarrett]

Re: Selling my 1946 BC12-D

I have to disagree with those who think Joel's plane isn't worth the asking price. This is a plane that is outstanding in every way. It is worth every dime he is asking.
In the current economy I doubt he can get what it is worth and I really hope he doesn't let it go for less than than that. I would hope he can find a way to hold on to his jewel and fund his other efforts.
Is everyone picking up on what I'm saying? There is a huge difference between VALUE and PRICE. My 41 isn't worth ANYWHERE near as much as Joel's on the open market, but to me, I wouldn't sell it for $50,000. Same for the 45 and it's a pile of PARTS.
Let's keep the market value separate from the actual value. Saying it isn't worth the asking price is insulting (especially if you have ever seen the plane). It IS worth it, if you are a discriminating buyer who has the cash and wants the plane, you will pay that price. If Joel is offered less than he is willing to let it go for, he will keep it. The highest price offered is today's market price. The value he will sell it for is the value he sets on it.
This is an airplane that has been truly loved and cared for. I would surely pay his asking price if I had it, and a LOT faster than I would have paid for that Picasso that sold at auction recently. What I'm saying is, if you put both on a table and said you can have one, I would take the Taylorcraft (NO, you can't take the Picasso, sell it and buy the Taylorcraft. You have to keep the one you pick. I wouldn't hang that painting in my bathroom.)
Hank

Sorry, but when my 41 was that BUTT UGLY International Harvester Tractor Orange and Forest Green I got REALLY sick of people deriding my plane just because it was ugly and saying I paid too much for it. It was worth every penny, even WITH the messed up fuel and electrical systems.

[N96337]

Re: Selling my 1946 BC12-D

Well said, Hank! I was trying to figure out how to say the same thing. Joel, I do hope you can get that for your plane.. it's worth it. I never did understand why Tcrafts were lower in price than all the rest of the stuff out there.... even homebuilts...and we see lots of them go for more money than Joel's asking. She's worth every penny in my opinion, and like Hank, I'd gladly hand it over if I had it.
JH

[Joel Severinghaus]

Re: Selling my 1946 BC12-D

Terry, your point's well taken. There's an IFR-equipped Cessna 172 being advertised in the Des Moines newspaper for $20,000, for example.

I'm hoping that the pilot who buys my Taylorcraft compares it instead to the price of a new LSA taildragger, a $100,000-plus new Champ or Cub clone. Compared to those, a 1946 Taylorcraft has history, style, and $20 per hour operating costs. I've restored everything that can possibly be restored, so the next owner could probably win fly-in awards by simply flying in, wiping off the bugs, and touching up the wax.

And to throw in a highfalutin' art world term, my ship has "provenance" - a complete paper trail all the way back to the factory.

The analogy I'd use is a restored show car: one-of-a-kind show cars sell for whatever some collector is willing to pay for a unique vehicle, not the straight Blue Book value for that make and model.

I really don't want to sell the Taylorcraft, but I need a larger Light Sport to use for flight instruction. And hangar rent at my home field is $170 per month, so I can't justify two hangars.

My wife, whose Midwest Antique Airplane Club nametag says "Taylorcraft Financier" under her name, set the asking price. I have actually spent more than that on restoring the plane, which was probably not a rational economic decision. The airplane never got a name, but my wife refers to it as "that money pit"...

I'm tempted to put the plane in the auction at Oshkosh, if one of you won't buy her before then: http://www.airventure.org/auction/

But wouldn't you rather sleep beside her yourself in Vintage Aircraft Camping at Oshkosh this July and for years to come?

[Robert Lees]

Re: Selling my 1946 BC12-D

Personally, I don't think Joel's price is off the mark, for what he is offering. A brand-new aeroplane.

As we all know, it's not the purchase price that costs the money...it's the running costs...insurance, hangarage, annuals etc. divided by the hours flown. Everyone ought to do their own sums on this.

When you sell, Joel, keep in touch with us all.

[Ron Coleman]

Re: Selling my 1946 BC12-D

Well I have an original Picasso that hung in our bathroom for many years. I will be glad to trade it for a Model A, or a ferryable ace or Bc12 any vintage, or a ferryable tandem or good project t-craft. Or any other flyable T-craft.

I won the Picasso in a "arty world type contests" when cars had tube type radios.

I don't think that the price for that white and blue beauty is out of line and I would rather fly it than the Picasso.

RonC

[Hank Jarrett]

Re: Selling my 1946 BC12-D

Joel,
Have you thought about selling a share in your plane if you can't get your price? I would bet there are a lot of people who would LOVE to have joint ownership on her. Partnering with someone who appreciates her could be a great deal for both of you (yes, I know a partnership with the WRONG person could be a nightmare).
I have been trying for some time now to get the welder who did the work on my 45 to partner with me to finish her. I am hoping he is hesitating because it is completely apart and not because of the potential partner.
Hank

[Laz]

Re: Selling my 1946 BC12-D

Joel, Keep to your price. I highly recommend at auction route as long as you have a Reserve price. Don’t’ let the auction guys try and talk you out of it.

I spent years restoring A Austin Healy “Bugeye Sprite” Everyone I know told me you will never get what I was asking for the car. They were wrong. I sold it a the Kruse Auction in Auburn Indiana. It was, as far as we know the most ever paid for a 1959 Sprite. Just like your plane it was as original as I could get it. The problem sellng it via adds is that people will bring you adds of T-crafts selling for much less. If they really thaought oter planes are good deals then they should buy that plane. What you hope for at any auction is only 2 or three buyers that really want a T-Craft like yours. They will decide what its worth. As long as you have a reserve you can’t loose.

As far as T craft values, I can’t say it better than Hank did. For the record here are some of my costs. I am now nearing the end ( I hope) of my restoration . Just the big items. Cost of buying my airplane back $9000. Engine rebuild (9,000) No labor just parts and Inspections and used 15 over cylinders and new slick mags. Covering material $5000. and counting. I think the world of Jim and Dondi Mller, but there estimates on materials is way off and I used urethane which adds another 500 bucks. All new cables and hardware $1000. New wing tanks $400 ( “rebuilt my own”) Aluminum and other parts for new cowl. $500. New struts 3,000, Tires brakes $500, Mis. part instruments $1500. Epoxy primers and other paint supplies $500. New spar 200. New tail wires and fittings 200. Prop redone $300. Instruments rebuilt 500. ELT 150. Windshield 180. Interior 500. Remember these are just the big items. Im sure there is at least another 2K that I have missed.

Total 30K minimum

If you value your time at 5 bucks an hour you probably have another 7K.

If you have A&P do it you would have at least another 20 K. If you can find someone who will actually do the work. The latest cost on just a cover job is at least 6K plus materials.

The cheapest LSA out here is probably 60K if you build it.

Good luck and stick to your guns. Someone out there will pay the price.

[Joel Severinghaus]

Re: Selling my 1946 BC12-D

Ambassador Lees:
Thank you, sir. Your endorsement means a lot. Doesn't your field need another Taylorcraft? I can check containerized shipping rates...

My monthly fixed costs are probably higher than most. I have my ship insured for $50,000 hull value, with $1 million liability coverage and $100,000 medical expenses per passenger, for a total annual premium of $1485. My last annual inspection cost $850. And my outrageous hangar rent (two concrete runways, concrete floor and electric door, just 15 minutes from home) is $170 per month. So my monthly fixed costs are about $365. I buy $5/gal 100LL from the FBO's fuel truck, and change the oil myself every 25 hours, so my variable costs are maybe only $25 per flying hour. Could be less if I used car gas.

Hank:
If the BC12-D had a 1320 lb. gross weight, like the new LSAs, I wouldn't have to sell her. But with only a 400 lb. useful load, a partner and I couldn't fly together (unless I start seriously abusing diet drugs.) I've come to the sad conclusion that I've learned all I can from my Taylorcraft, and it's time to pass her on to her next caretaker, perhaps someone with a grass strip and grandkids...

Laz:
Thanks for your Austin Healy story and support, too. The Oshkosh auction does allow sellers to set a reserve price, which the auctioneer will try to get. The only downside is they charge a 6% seller's commission for a reserve price plane, versus a 4% commission for "absolute auction" planes. But some of the commission goes to EAA, so I could feel good about that.

[3Dreaming]

Re: Selling my 1946 BC12-D

[QUOTE=Joel Severinghaus;56575
Laz:
Thanks for your Austin Healy story and support, too. The Oshkosh auction does allow sellers to set a reserve price, which the auctioneer will try to get. The only downside is they charge a 6% seller's commission for a reserve price plane, versus a 4% commission for "absolute auction" planes. But some of the commission goes to EAA, so I could feel good about that.[/QUOTE]

Joel, at $50,000 that's only $1,000 to make sure you get your selling price. If I was selling I think I would want that extra security. Tom