aircraft restoration economics

Photo of a Taylorcraft Delux at Oshkosh 2004.

The subject came up recently about what it costs to restore a classic airplane like the Taylorcraft.  Here's my experience with the economic side of aircraft restoration.

SHOP AND TOOLS

I had to build a shop for the project and buy tools.  I did most of the work myself and bought the tools on eBay.  Total about.....$6000.

Then I bought a used car hauler trailer to bring the project plane back home.  It is 18 feet long and 8 feet wide.  Cost.....$1000.

Total getting ready to do restoration______________________$7000

THE AIRPLANE

I bought a project plane that had been damaged (bad wings), but had a zero time engine.  The plane, a 1946 Taylorcraft, had been in storage for 10 years.  A few parts were missing, but mostly it was all there.   Cost.....$8000.

Cost to rebuild the wings, fabricate new wing spars, repair minor dings and dents, replace all AN hardware.   About....$1000.

Cost to restore zero time engine.  New magnetos, plugs, harness.  Overhaul carb.  Repair two cylinders (valves).  Repair baffels, new cowl seal.  New hardware, paint, data plate, new gaskets, hoses, etc.  About.....$2000.

Overhaul old instruments, purchase used instruments, new control cables, hardware, repair magneto switch, new P leads, etc.  About .....$1000

Sandblast fuselage and fittings, new tailwheel, brake ovehaul kit, AN hardware, paint stripper, epoxy primer.  Roughly.....$1000.

Recover materials, Poly Fiber.  Approx.....$3000

Total invested in the airplane _________________________$16,000

TIME

Of course, I'm not done yet, but judging from what I've done so far and the experience of others...looks like about.......2000 hours.

 

So, when I get done I'll have about $16,000 invested in the plane and about 2000 hours of my own time.  They tell me the completed plane will be worth $20,000 to $24,000. 

As a business, this project is a loser.  I would be better off working at McDonalds.  I make only $4 an hour at best working on the airplane.

But as a hobby, this airplane project is just grand!  I get the pleasure of a very interesting project, then I can turn around and sell it, get all my investment back plus a little profit.  And have enough left to buy the next project plane!

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