Parting out vs Selling?

[6709]

Hello there. I'm not doing anything radical here any time soon, but I am curious to know if anyone has parted out a perfectly good C140 instead of selling it, and how did that work out if you did? I have been maintaining my own airplane since 1991. My grandfather had it under his care since the early 70s before that. If I were to sell it to someone, and that person were to say be 150 pounds over gross, then run it out of gas and pile it in on their first solo; I would be the AP/IA that gets sued when the engine experts tear down the engine and find the seals "friable"......This makes me nervous and, while I like you all, I just don't trust any of you. (Or, at least, not your lawyers).
I guess the next option would be to tear it all apart, take pictures and sell it in individual pieces, I.e., 10K in used avionics, 6K for the A model landing gear, 9K for the C90, 1K for the prop.... (You know, that kind of thing)
As I write this, one more option comes to mind. Maybe I just roll it out of the hangar, fly to the empty field behind my house, open the gascolator and toss a match. A bit like a Viking funeral of old.
Obviously, I am having a bit of fun here, but the liability aspect of selling to the newest tail wheel "Peter Pilot", for me personally seems mighty high. I have an outstanding airplane, (don't we all?), and in one way or another, I have touched every system and structure over the years with very little outside help. (Avionics Place and Aircraft Systems and Poplar Grove Airmotive have also kept up certain "key" components tidy for me as well). I would be very exposed financially if the awful were to happen post "sale". The person I would have asked this question of first would have been my grandfather, who passed away a number of years ago and since no one else in my family really cares about flying, I will enjoy reading your take on my question. -Kg

[6673]

There definitely is some risk there if something were to "happen" after the sale, considering you did the maintenance. You could sell it without logbooks (Form 337 with your name on it?) or take it to the biggest maintenance shop and have them do the next annual or two or three then sell it.

But, I hate to say parting out is the best of all the options, from a lawsuit avoidance strategy.

Nick

[6643]

Take the wings off and sell it as a project, after the current annual inspection expires. I think it would be a sin to part out a perfectly good aircraft!

[edidin]

Seems a shame to take one of the best flying aircraft out of service, though understand that if you are the IA of record and have no insurance should something go sideways with the new owner, there may be a liability concern.

Letting the annual expire and having the next owner truck it out or get a ferry permit seems like one option. Or sell it an experience tailwheel pilot?

[6183]

Actually there once was a fellow who frequented this site a few years ago that stirred up quite a stink about parting out airplanes. He had purchased a very early 140 that didn't quite meet his expectations. It had some airframe and engine issues, and he tried to sell it outright; however, he didn't get the takers as quick as he wanted therefore, he sold the engine, and would have sold the wings separately as well as the gear or anything else in order to move it. Fortunately, a gent looking for a good project (it had a crack in the gear box bulkhead) purchased the airframe less the engine, and saved the airplane from being parted out. Quite a few individuals posted asking him to wait for a good buyer in order to keep the airplane whole, but to him it wasn't about the airplane it was all about the money tied up, and he wanted to move on down the road in order to get something else. Also parted out a few good Aeronca L-3 projects.

[6643]

I remember that...

[6183]

I remember that...

I thought that you would John. You and I talked on the telephone about him.

Mike

[6898]

This one sat in a barn hangar since 1983! I tried so many times to purchase it and was told I'll never sell it as I have too much to lose. He has since passed I was there to save it from the auction company and the salvage / parting out people. I have too many projects and a little less time now , but I made sure it was in the best hands possible! Sad but so many stories I've heard fear of loosing everything by selling a plane I see the complication and wish it was different.

[8413]

Hi Kurt,
Since you are an A&P/IA, wouldn't you be at risk of lawsuits on any aircraft you have worked on? Why single out your 140 for liability worries?
Josh

[6643]

I was there to save it from the auction company and the salvage / parting out people.

At least you could have taken the extenders off!