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View Full Version : (Slightly) OT - Post Korean War P-51 & it's price today



DHC2Pilot
01-14-2008, 10:59 PM
I remember having a conversation with my father about the P-51 he flew in Korea, and he said he could have bought it for $1750 dollars surplus right after the war, but he couldn't come up with the cash. Think of the return on that investment. What does an *average* 'stang go for today? A quick search on the internet revealed prices of $900K up to over $1.5M. It's interesting to see how certain aircraft appreciate in value sooooo much. Take the DeHavilland Beaver - 30 years ago you could buy a decent one surplus for about $10,000 (wheels, skis, and floats included). Today, you're hard pressed to find an average one for under $125,000. So, looking into your crystal ball, which military surplus aircraft would you think would be worth your investment? Which aircraft has the greatest potential for a price surge. Of course the potential is directly linked to availability (the number built vs. the number remaining), and their longevity and usefulness. Lets see, where's that crystal ball of mine.........

PBNA-Boosher
01-14-2008, 11:50 PM
Think of the return on investment if you kept up a PBY and lent it out to the local Search and Rescue Operations teams on the Eastern or Western seaboard? No, it can't hover, but it can stay aloft for much longer, is generally faster at about 175 mph (282 kph), covers more distance than a helicopter, and it can land on the water provided it's not too rough.

Hell, with that kind of job, even if I was hemhorraging money the possibility of saving lives would be worth it for as long as I could keep it up. If it worked well enough we might be able to get funds from the Government to keep her airborne for duty.

Hey, it can't hurt to dream, can it?

nudibranches
01-15-2008, 03:07 AM
Don't forget that $1750 in the early 1950s was still a reasonable sum of money, but yeah, the multiple on that investment would be significant.

The only thing you are overlooking is the annual upkeep of a plane like that to keep it airworthy.

So you'd have to factor in the annualised expenses over 50-plus years, on top of the original $1750 investment.

You could have just locked it away in a dry hangar for 50 years and spent very little, but then it wouldn't be airworthy and you'd still need to invest big bucks to get it back to AI.

But even taking this into account, it's not a bad return on investment.

Multiple of x857, over 50 years, annualised at x17. Nice.

Back in 1969 we had a nickel boom in Australia due to the Vietnam War. I was only five at the time, but shares in a Western Australian mining company, Poseidon, went from .80c to max out at $280 before crashing.

The Poseidon share multiple of x350 is still an Australian record.

There are a few very, very wealthy people still around who owe everything to Poseidon.

Jagdgeschwader2
01-15-2008, 04:33 AM
Check this out.


Post WWII prices.

BT-13, $ 450 P-38, $1,250 AT-6, $1,500, A-26, $ 2,000

P-51, $3,500 B-25, $8,250 B-17, $13,750 B-24, $13,750

B-32, $32,500

Many aircraft were transferred to schools for educational purposes, and to communities for memorial use for a minimal fee. One source reported a Boy Scout Troop bought a B-17 for $350.



http://wingsofhonor.org/victory.aspx


http://home.earthlink.net/~jagdgeschwader26/sitebuildercontent/sitebuilderpictures/jagdgeschwader2s3.jpg

SeaFireLIV
01-15-2008, 04:53 AM
I get worried when some rich bloke buys a P51 as they always seem to think they`re an Ace and then crash the thing.

I`d rather authentic museums or guys who knew what they`re doing bought them.

Krt_Bong
01-15-2008, 09:13 AM
Originally posted by SeaFireLIV:
I get worried when some rich bloke buys a P51 as they always seem to think they`re an Ace and then crash the thing.

I`d rather authentic museums or guys who knew what they`re doing bought them.
My Dad used to have stacks of aviation mags in the garage and I distinctly remember an article entitled "so you want to be a fighter pilot" what followed was one pic after another of crashed P-51's and P-40's (a lot of which were right around my area, Sarasota, Fla.) at that time there was a company at the airport called Cavalier doing conversions of Mustangs into executive type aircraft with wingtip tanks and two seater cockpits, then later they were trying to sell the 51's back to the military as a souped up, turboprop FAC aircraft.

jarink
01-15-2008, 09:17 PM
Originally posted by DHC2Pilot:
So, looking into your crystal ball, which military surplus aircraft would you think would be worth your investment? Which aircraft has the greatest potential for a price surge. Of course the potential is directly linked to availability (the number built vs. the number remaining), and their longevity and usefulness. Lets see, where's that crystal ball of mine.........

I don't see many ex-combat aircraft being made available for sale any time soon from Western countries. Look what happened when the F-14 was retired. Even legitimate restorers and museums had a hard time convincing the USN that they deserved one (read: could keep it out of 'bad' hands).

voyager_663rd
01-15-2008, 09:38 PM
Well, $1750 in 1945 is about

$19,600.00 using the Consumer Price Index
$16,333.11 using the GDP deflator
$34,392.99 using the unskilled wage
$48,301.79 using the nominal GDP per capita
$103,499.44 using the relative share of GDP

in 2006 dollars (latest year figures are available).