Spitfire TE330 For Sale in New Zealand!

Lets hope she comes to the UK 🙂

Spitfire for sale in New Zealand.

Update on this Spitfire auction.

http://en.artron.net/news/news.php?newid=54085&column_id=65

Auctioneers’ website: http://www.bonhamsandgoodman.com.au/ (when link opens, scroll down)

Rich.

I think the ‘sensitive commercial information’ James is reffering to essentially concerns the re-build cost of any given aircraft that might be available for sale. I would certainly not expect anyone to disclose that (in the same way that VW wanted to keep the build cost of my car a secret from me)!

As pointed out earlier there is the cost of project aquisition (obviously varies depenedent on source and condition/completeness), the re-build/overhaul costs (including the aquistion of any missing items and again varies dependent on whome/where the work is carried out) and finally there is an end value of the completed aircraft. One hopes that there is a margin in addition to the total cost of the aforementioned in order to provide some financial justification to the project but sadly it is often the case that there is not. This is an unhealthy situation and one that has pushed many potential Spitfire owners towards buying a complete flying aeroplane rather than a project.

The trend now seems that values are finally creeping away from costs but its not by a big margin and who knows how or if the current ecconomic uncertainties will affect values.

I’m resigning from being considered an expert on these things!

You may have a better idea than some people who ought to have a better idea than you. 😉

I’m resigning from being considered an expert on these things!

Been out of Spitfires for too long 😉

Bruce

I completely fail to understand, why that should be considered a secret :confused:

Again, I was using language very precisely, and didn’t use the term ‘secret’. Commercial information is generally sensitive; what is released for public consumption is often not the whole story.

An insurance or other valuation may not relate to the value an object sells for, dependant on market; and a seller and buyer have to come to a mutually acceptable deal. Sometimes some of that information (just like personal bank details) isn’t for anyone else’s insight, and other factors may be given in confidence.

Regards,

I guess I’ll have to wait, untill one is for sale on courtesy aircraft, or some place like that.

One sold on Courtesy a few months ago. No secret at $2,000,000. Most consider it was very cheap sale considering the aircraft in question was a recent comprehensive re-build and done to a very high standard.

NB: I’m not commenting on the specific project.

The difference in money needing to be spent getting from X to Y is Z. Z is often, depending on factors, significantly greater than the gap between X and Y.

A perfect restoration of a Spitfire to static will (if there’s no paperwork and the work was not signed off as airworthy, or not done by qualified staff, or not with airworthy quality materials and paper saying so) need to be torn down and redone. The cost of this we’ll call ‘A’, which is, indeed, going back to the start, and is in addition to Z.

A completed flying aircraft is worth more (even allowing for the cost to complete difference) than the same aircraft complete but as a not-flying project.

Warbirdnomics is undertaken for real by the buyers and sellers. Insurance has a limited insight to aspect of it, but certainly not the full story. Reporters (such as myself) and experts (such as Bruce & Mk.12) have a certain amount of understanding, some of which is for publication, and some of which isn’t. Close observation and seeing what people do with cash and projects and not what they tell you is eddicational, over time.

Regards,

I fully understand that a restoration project can exceed Z, but I was not speculating about restoration cost, just the price of an avarage Spit (not BoB veteran and not associated with anything/anyone famous).

I completely fail to understand, why that should be considered a secret :confused:

I guess I’ll have to wait, untill one is for sale on courtesy aircraft, or some place like that.

Very interesting speculation!
Turn it round the other way, how much to put it back in the air? I have seen it, have you?
Is this a genuine sale?

You would be a long way off. 🙂

Mark

Yes indeed – thats why I was reluctant to guess in the first place!

I am guessing rather higher

Bruce

You would be a long way off. 🙂
Mark

Which way Mark?

Very interesting link, but is it just me or are those interior shots of the riveted aluminum work not missing something? I know my project has many parts that are not zinc chromate primed on it but those parts are put on with cleco’s not solid riveted. If it was rebuilt to fly my only point is would the parts not have atleast been primed with chromate primer or something before riveting.

Not nit picking or anything just pointing out what I saw in the pictures. Still going to be worth alot of money, just take into account that the last time I saw an U/C indicator it went for $2500 US on ebay and that is a minor part so just the parts alone make it worth a fair chunk.

Well it need not be that complicated.

Say a static Spit is about X dollars (never fly again).

A flying Spit is about Y dollars.

A spit in a condition between static and flying is somewhere between Y and X. I did not ask for any actual figure, just a ball park amount.

I have seen flying Mustange for sale at between 1 and 2 million dollars, so thats the ball park i figure for them.

My guess on a Spit, would be 1 million for a fair project and 2-3 million for a flyer. Surely someone can ball park it better.

NB: I’m not commenting on the specific project.

The difference in money needing to be spent getting from X to Y is Z. Z is often, depending on factors, significantly greater than the gap between X and Y.

A perfect restoration of a Spitfire to static will (if there’s no paperwork and the work was not signed off as airworthy, or not done by qualified staff, or not with airworthy quality materials and paper saying so) need to be torn down and redone. The cost of this we’ll call ‘A’, which is, indeed, going back to the start, and is in addition to Z.

A completed flying aircraft is worth more (even allowing for the cost to complete difference) than the same aircraft complete but as a not-flying project.

Warbirdnomics is undertaken for real by the buyers and sellers. Insurance has a limited insight to aspect of it, but certainly not the full story. Reporters (such as myself) and experts (such as Bruce & Mk.12) have a certain amount of understanding, some of which is for publication, and some of which isn’t. Close observation and seeing what people do with cash and projects and not what they tell you is eddicational, over time.

Regards,

You arent a million miles away with the dollar being weak at present.

Ten years ago, this sort of project was £150K sterling, but there just arent many projects that are as complete as this one. I’ve been out of it for too long, so havent got an accurate grasp on Spitfire values, but would guess that 350-400K sterling would be somewhere near.

I could be a long way off!

Bruce

You would be a long way off. 🙂

Mark

it looks like its progressed a lot..

The last ‘recent’ pics of te330, show it sitting on a stand, minus it’s wings(kiwi aircraft pic’s with JG891 beside it)….
The other views I have seen show it in brown/green….grey looks so much better….
It all looks good..
Any one know of other pic’s around…
My cheque book is open with the pen poised…
A post dated cheque should be fine, shouldn’t it?;)
(dreams are important in the cold hard light of reality…..)

Well it need not be that complicated.

Say a static Spit is about X dollars (never fly again).

A flying Spit is about Y dollars.

A spit in a condition between static and flying is somewhere between Y and X. I did not ask for any actual figure, just a ball park amount.

I have seen flying Mustange for sale at between 1 and 2 million dollars, so thats the ball park i figure for them.

My guess on a Spit, would be 1 million for a fair project and 2-3 million for a flyer. Surely someone can ball park it better.

You arent a million miles away with the dollar being weak at present.

Ten years ago, this sort of project was £150K sterling, but there just arent many projects that are as complete as this one. I’ve been out of it for too long, so havent got an accurate grasp on Spitfire values, but would guess that 350-400K sterling would be somewhere near.

I could be a long way off!

Bruce

Anyone else notice that the landing gear lever is selected to the UP (retracted) position?? Doesn’t appear to be “in the gate”, tho. Still, not a preferred practice.

Paul is dead right – it is the ‘How long is a piece of string’ argument.

This is a good and very complete project. The level of work required will depend on a large number of factors. The value as it stands is dependant on those, and cannot be guessed upon without having access to the aircraft and the relevant paperwork.

Bruce

Well it need not be that complicated.

Say a static Spit is about X dollars (never fly again).

A flying Spit is about Y dollars.

A spit in a condition between static and flying is somewhere between Y and X. I did not ask for any actual figure, just a ball park amount.

I have seen flying Mustange for sale at between 1 and 2 million dollars, so thats the ball park i figure for them.

My guess on a Spit, would be 1 million for a fair project and 2-3 million for a flyer. Surely someone can ball park it better.

Maybe it should be gifted back to BBMF, from whence it came!

C6

Paul is dead right – it is the ‘How long is a piece of string’ argument.

This is a good and very complete project. The level of work required will depend on a large number of factors. The value as it stands is dependant on those, and cannot be guessed upon without having access to the aircraft and the relevant paperwork.

Bruce