----[Please read http://ercoupers.com/disclaimer.htm before following any advice in this forum.]----I am recently retired, have more time on my hands that I expected and am
considering restoring an Ercoupe. I would appreciate and welcome comments
from all points of view.
I have found a 1946 C/D, 90HP Ercoupe with both wings removed. It has been
stored inside for 17 years. According to the log, it has only 454 total
hours on both the engine and airframe. The wings are fabric covered and in
poor shape. The left wing is damaged and would require replacement. A second
right wing and spare rudder assembly along with a bubble canopy and many
"spare parts" are part of the package. The canopy is new and has not been
fitted. The plane has a single fork nose wheel and the interior would have
to be completely redone. There are no rudder pedals and there is minimal
instrumentation.
Unfortunately, the engine was stored without proper prep and will require a
major overhaul. (new jugs, pistons, etc.) Because of corrosion there has
been recent major reconstruction of the aluminum under the seat and wing
spars. The reconstruction looks well done and was performed by a major firm
in Florida. I spent over an hour looking and could find no additional
corrosion,
Through a local Experimental Flying Club, I have found two certified
mechanics who are willing to help me restore the plane. I am not an aircraft
mechanic but have extensive experience working on turbine engines and have
been working in automotive research for over 40 years. Buying a certified
rebuilt engine is not out of the question. I am prepared to spend $10,000 to
$12,000, in addition to the initial cost over a two year period to restore
the plane. It would be imperative that all upgrades and safety standards be
complied to.
My questions are:
1. Doe's $5500 sound like a reasonable price to pay for the plane in it's
present condition? It is possible that the seller would consider $5000 and
transport the plane (about 25 miles) to my shop.
2. Is $12,000 a reasonable estimate to restore the plane to "like new"
condition with minimal instrumentation, assuming I do much of the work
myself?
3. Is doing the work myself with the two certified mechanics holding my
hand and keeping me "on track," reasonable or am I being overly optimistic?
4. Would it be more cost effective to buy an already restored Ercoupe with
low hours, assuming one could be found?
Bill Rahm
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