Notwithstanding JGG's (IMO accurate) assessment above, that panel was old in 1997. If it works, the single axis autopilot is also marginal, so to make a traveling plane out of this you're looking at numbers that come close to JG's assessment of its current value. That's not to say that it should be given away, but you're going to have to find someone who wants to take on a project, or get a "deal", or maybe someone who wants a very basic IFR (or VFR) Mooney, and that's if all of that stuff works.

For engine work and panel, you're probably in the 80 AMU range. That's invested money, not sales price, but compared to the approximate value speculated above, that doesn't leave the buyer much room before they're upside down on the project. Leaky wings, corrosion, etc. would all be additional costs that would make it harder to sell, and that's the real issue, not price so much as finding someone willing to do the needed work for any kind of price that the seller would accept. That's typically what keeps a plane like this rotting in a hangar instead of moving to a new owner and flying.

When you net it all out, and given the best case scenario in terms of the aircraft’s condition, IMO the plane is worth less than the “half the amount” figure mentioned two posts ago.

If the engine case needs to be opened, it nets out to zero after avionics. Anything else like tank sealing drives it negative. Corrosion isn't part of the equation because it's the coup de gras.

This sort of project requires a buyer who wants this particular plane or one like it and is unable to find a suitable one on the open market. The premium that will be paid to get this one into desirable condition is the cost of getting something that isn't available by other means. That requires finding the right buyer, and those are generally few.

I did the work to bring back a Mooney. The shop that did the pre purchase missed the spar cap corrosion (Cole Aviation). I spent 3 years and a ton of money but got a new wing on it and she is flying again. I paid $26,500 to buy it and 3x that much to get it in shape to fly again.

The takeaway from these kinds of threads is.... sell AS SOON AS you don't mind missing an annual. You fly the plane and put it away, then three months go by and you haven't flown it. Then the annual is due, but you ignore because life is busy.

From that point, the value plummets. Meanwhile, you're paying hangar rent, and someone out there who should be the next caretaker is buying something else instead.

I had my response planned before I read yours. But I was thinking that I would pay no more than $25k and expect $60-100k needed in the first year or two.

For reference my buddy’s V35 panel looked like that. He is currently redoing it and is 80AMUs without a new autopilot.

That old stuff is just so old…

JGG’s assessment is spot on, IMHO. To me, these things (20 year out of annual sitting plane) are nearly worthless. It will need tons of attention.

Heck, planes that are IN annual and fly little every year need tons of attention…

So the Mooney "expert" inspected the plane. He stated that the paint, interior and windows are immaculent. There was no sign of rodent or other outside intrusion. He looked at one side of the wing spar and did not see any notable corrosion. However, the wing tanks were empty and clearly leaked dry. He did not pull the valve covers, rather just assumed the engine and prop governor will need an IRAN overhaul. The panel is in very nice condition but its original steam gauge.

The gentleman is working with the owner to determine the next step. If/when this goes up for sale I'll include a link.

Thanks for your information.

It has the J cowl and windshield, so almost a J. That is worth a good bit.

Sounds like a good find.

This plane would be an excellent candidate for a modernization-in-one-step if purchased right. You're not paying "extra" for the stuff like my Mooney has (dual GNS boxes, STEC-30, etc.) and you could go straight for a full-boat Dynon or Garmin suite. (I'm still hopefully the Dynon Mooney A/P is coming this year!). Cosmetics appear excellent, I assume no corrosion, and some of the best speed mods/upgrade like the cowling and windshield have already been done. Engine is a wildcard, though.

That looks like a good starting point. I put bladders in mine. I was able to work under supervision to keep the cost down.

If it was me….Iran engine, gov, prop, mags. New engine mounts/hose. New gear biscuits. Price out avionics. It does add up fast but as they say “no bargains in aviation.

That cowl is not a J cowl. The J doesn’t have removable cheeks. It’s a good example of a classic Mooney.

As mentioned, it’s not a J cowl.

There’s also more to F->J than just cowl and windshield changes; engine, yokes, panel, landing gear were all updated. 77J was a transition year, but 78 and after was substantially different and continually improved.

I own and fly an M20J, and get annuals at Don Maxwell aviation in Longview TX. They are the Mooney gurus. Give Don a call, they frequently restore Mooneys and only work on Mooneys.he can give y’all an unbiased opinion.

https://www.donmaxwell.com/

Your friends bird looks like it’s in fantastic shape to me!!