P51 For Sale - Estate Auction

[Skyracer]

Came across this: http://www.estatesales.net/estate-sa...e/90505/872457

[SkyvanDelta]

Re: P51 For Sale - Estate Auction

How much do you think the Mustang will sell for based on what you see in the pictures?

[SkyvanDelta]

Re: P51 For Sale - Estate Auction

What's the reason for the sale? Bankruptcy, lawsuit, old age, death...?

[Lockheed Bob]

Re: P51 For Sale - Estate Auction

If you search by P51D & the N number it will tell who owned it. Both the male owner died & then the wife died so now its in an estate sale. I think Mustangs/Mustangs.com will also tell history of plane with photos.

[BellCobraIV]

Re: P51 For Sale - Estate Auction

Wow, time capsule, I remember seeing that airplane at the Torrance airshow back in 1972, it flew then.

[T J Johansen]

Re: P51 For Sale - Estate Auction

Do you remember who flew it in Torrance? To the best of my knowledge Ken never did fly it. And previous owner Jim Keichline told me that he flew the 51 only approx. 10hrs during his ownership. And then it sat. Could it have been Hoover?

T J

[BellCobraIV]

Re: P51 For Sale - Estate Auction

Do you remember who flew it in Torrance? To the best of my knowledge Ken never did fly it. And previous owner Jim Keichline told me that he flew the 51 only approx. 10hrs during his ownership. And then it sat. Could it have been Hoover?

T J

We had the Bearcat there and Hoover was there with the Shrike. But as I was 13 years old I do not remember.
John

[Big_Jim]

Re: P51 For Sale - Estate Auction

But as I was 13 years old I do not remember.
John

Wow, so that would make you like......25........39......47.........that would make you really old.

[SkyvanDelta]

Re: P51 For Sale - Estate Auction

A few questions.

-Is anyone here going to attend to either view or bid?
-Anyone want to speculate on who's going to bid or be the winning bidder, and the final selling price?

[Lockheed Bob]

Re: P51 For Sale - Estate Auction

K. Weeks or P. Allen. $250K.

[SkyvanDelta]

Re: P51 For Sale - Estate Auction

K. Weeks or P. Allen. $250K.

Then what will happen? Do you think the new owner will fly or truck it home or keep it there until it's flyable?

If it sells for $250,000, what's next? If you had to pay somebody else to make it flyable, would you spend another $250,000-500,000 in labor and parts to make it flyable, then it's worth 1-2 million in good/restored/new condition if/when you can find a buyer?

A quick search on trade a plane shows them listed at 1-2 million dollars. http://www.trade-a-plane.com/keyword...d=p-51+mustang

Here is one listed at 1.9 million that says: 320 Hours Since Ground-up Restoration by Square One Aviation in 2001. Aircraft was restored to 100% original factory condition. 2493 Hours Total Time Since New. A Multiple Award Winner! "Geraldine" 320 Hours Since Ground-up Restoration, 75 Gal Drop Tanks. One of the most Authentic Mustangs Restored To-Date! http://www.trade-a-plane.com/detail/...D/2079573.html

[Reever]

Re: P51 For Sale - Estate Auction

I would be surprised if the sale price was less than 750.000.

[SkyvanDelta]

Re: P51 For Sale - Estate Auction

It's going to be an online auction only. The web page says Bidding opens June 2, 10am PST and closes June 4, 10qm PST and you can preview it and bid with a $25,000 cashiers check. Is the auction bids going to be made available to the public who did not put a $25,000 deposit? It says it is a Probate Sale/Auction ordered by court. I guess the owners died without having their estate matters in place because probate is a slow, expensive matter.

[Samuel]

Re: P51 For Sale - Estate Auction

Video

https://www.youtube.com/watch?v=mM4m4lmLigc

[SkyvanDelta]

Re: P51 For Sale - Estate Auction

That video has some serious problems. The auction company is advertising it like it's an old car worth $10,000 that has been sitting in a garage for 40 years and just needs a tune up, some tires and it's ready to drive. That is so far from the truth with an airplane. Getting that airplane flyable would bankrupt most people.