Seized Private Jets at Government Auction CHEAP! Did I bid Too Much?
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- เผยแพร่เมื่อ 11 มี.ค. 2023
- Today we try to buy abandoned private jets at government auction for CHEAP. Some sold for the price of a Honda.They all have wild stories of committing illegal crimes and being seized by the government. Can they be saved? Learn to fly! The ground school course we personally use (Get $30 off with this link): learn.pilotinstitute.com/a/af...
These plane are worth millions in nice condition, and these are available for just a small fraction of that. These private jets have been sitting for years on end. Will these engines start up and run for the first time? Enjoy this video as I try to buy the cheapest private jets in the country.
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PLEASE NOTE: We are aviation enthusiasts. These videos are for entertainment purposes only. We are NOT qualified to give flying instruction. All of our videos, incliuding this one, have been significantly edited down from the original full legth raw footage. Many radio calls, checklist steps, and other procedures have been omitted to keep the videos a reasonable viewing legth. Please speak to a CFI with any flying questions you may have.
Im a Citation pilot for over 30 years and have more than 19.000 hrs only on the Citation starting on the 500 series all the way through the X, and I can tell you that any avionics that you have on the SII you can install on your 500, when it comes to the interior if the interior on the SII its the standard you can use it on your plane as well
Story of a plane at airport near me: bought at auction from fed govt. DEA seizure. Got ramped checked at virtually every stop every time he flew it. Guess it was never removed from the DEA/FAA watch list even though they seized it and sold it.
See if the FAA or Govt will sit down and talk to you about why those seized aircraft can’t be registered again.
Agreed. Stupid policy. Maybe let it REALLY auction and then apply all proceeds to fighting human trafficking.
your iq scares me if had my iq. sucks i felt my hole life with mine but if i had your brain ability my training would have been much easier women slowly get your way my advice use with caution vince was axboeing space shuttle wrenchturner bone builder 737 engineer pilot amp certs
Please explain
Ok well give me something else to do then.
You can get it for recregustration
Having bought 3 auction planes and a Bell 206LR, I can safely say - YOU HIT A HOME RUN ON THE 501! Great plane - no surprises! Keep rolling!
where do you find these?
Always great content on your channels Jeff!
Airplane parts is a huge market. Buying almost anything whole at auction and selling the parts is a smart move. You received an excellent education by following the auctions in this video. Next time you'll be more comfortable bidding. Doubling, tripling or quadrupling your money or more is not uncommon. Your competition in high end auctions like seized aircraft is very limited. I do something similar on a much smaller scale.
I would love to hear more about what you do, Don. If you have time
Great insight. Definitely looking forward to the next opportunity.
Yes, that certainly includes avionics!! I was looking for a used King KX155. even the radios from the 80's are still selling for $2,200.00.
Vintage sport cards? (-;
Great story and experience. Have to wonder how many hundred thousand those Hawker engines are worth. Oh well, hindsight is always 20-20. Our government sure does have some insane rules.
Amazing story telling. You need to get into sales!! Full support, thanks for the wonderful content. Cheers🎉🎉🎉
The Cessna and Lear 55 were a definite miss. H400 was really only good for parts. 731's are used on so many aircraft so the value is there. I believe the Lear 55 has 731's also. The avionics alo e in the Cessna would have been worth it! There may be a STC to install those into your current S2. That would have been a sweet upgrade. Happy hunting🤙
Thanks for the detailed comment!
Always fun to watch!
You should know about the LearJet because they were among the first to inhabit the skies of executive flight. Bombardier of Canada bought them along with the Challenger concept by Bil Lear. Although there have been some mechanical issues, the later models were fairly reliable. I've flown the model 45 which has a stand up cabin.
I feel like the owner was getting the price up on you and you dumped the bid at 53 on his neighbour ahah
Hahaha would serve them right 😂
Chock this up to a learning experience. There will be more of these to come. Next time, you won’t make a mistake. There are a lot of helpful people on here rooting for you & willing to help you. Continued success!
Love these videos, keep buying (or not) and filming!
Thank you! Will do!
Thank you for the video.
great info thanks
Keep in mind the price something sells for at auction only means slightly more than the 2nd highest bidder. For all you know the highest bidder was well aware what the parts were worth, which would mean if you wanted to bid against him it could have easily skyrocketed in price. But who knows lol. Either way keep it up, the deals will come your way.
Exactly. It's very rare that the winning bidder wasn't willing to go a whole lot higher.
Loving this channel as of late. Would love to see some more updates on the bonanza and stuff as well
More to come!
Aero engr: Yes, you can swap avionics among n number of aircraft or '65 station wagons. The avionics are certified separately on their own scheduled service/replacement. It doesn't matter to the FAA if its mounted on the Wright B flyer. It still has to work and pass inspection.
Missed out big time.
Fyi when the Vietnam War ended there were literally dozens of aircraft left behind and a huge inventory of spares.
The serial number of every air frame, engine, and spare was on record with the justice and state departments and were banned by the US and their allies.
In 1986 or 87 in Danang I saw a British company literally grinding up C130, DHC-5, Huey Choppers to recover titanium despite some were essentially brand new. The Ban was that strong!
For the avionics, it most likely would have required a permission letter (Purchase) form the STC holder. I can't recall who got the S2 STC (wasn't Garmin) but they'd probably be willing to sell permission extensions for a fee. Source: Used to work for big G
not on an auction won aircraft. however you are required to have the logs showing insulation maintenance and that sort of thing. and then have the systems tested.
@@marcusdyson2444 With computer and networking equipment, it is common to be denied access to software licenses, firmware upgrades, or any kind of support. Are there laws that require aviation companies to provide all of those things to auction aircraft? Even if they are required to provide upgrades and support, those do not have to be free, thus Josh's point is that the price of the plane at auction may have little resemblance to the total cost of ownership to buy the parts and use them in another plane.
I’ve always been into cars since I was a kid now I’m starting to get into aviation as well😂 love the video my bro
From cars to jets well done boys
17:30 yes, you could swap the glass avionics in your citation, probably not the interior, but the glass avionics for sure
Really! Dang that’s a bummer because now I really wish I bought it, a glass panel would come in handy on ours!
waste only money than idiot, if old panel all gauge working have stupid waste money buy idiot glass panel. what not need sure.
It’s a question of cost though it could cost 200k to fit it to that aircraft. I know the g1000 original retrofit on a metro was 1.2 million. The avionics only cost 500k in that equation.
Might be time to pick up some cheap desert land in the middle of nowhere and start JR Aviation Jet Graveyard and Parts. You are in the perfect climate. I used to work at SkyHarbor for Garrett (now Honeywell) building gas turbines back in the day while attending ASU. The day I relocated there a new high temperature was set: 121 degrees in the shade. In June ;-)
Bought and sold lots of corporate jets over 10+ years. My advice is stay away from these cheap unknown jets, off market is your money maker, and yes you can get them as cheap to make a nice profit after your done flying them.
Learjet over a hawker fyi ..
I suspect the Citation might well be "sold as parts" (Used to launder some cash, but not disassembled at all). The plane is then ghost registered (using a twin aircraft tail number)and flown over the border by the new owners and re-registered in it's home country and used for crime again. Yacht owners do it all the time. unless we see it chopped for real, I believe it will fly intact back to the old owners nest 🙂
Wow I really wonder if that was done here!
@@JRAviation I think that unless there is definite evidence that the parts really got sold off and those "customers" did the paperwork to install and certify the installation, we can't be sure it was scrapped. South America, Africa, and now Russia, are a bit like the wild west in the aviation industry. How did the aircraft leave the place it was stored? If they sawed the wings off, maybe that was how the government assured it could not fly. In this day and age, even the government liquidator could have pulled a fast one. ;-)
@@TerryLawrence001 Yes. He made the right decision/missed out or whatever. I would not touch those.
@@JRAviation It's good to be young and optimistic. You dodged a bullet IMHO. Have a great week!
@@JRAviation both the citation and learjet were “legal” in Venezuela (registration wise)
Keep on growing Jeff
You could turn the fuselage into a AirBnB like Jimmy's World is doing with Elvis jet.
He said in a recent video he is turning it into an RV now 🤷🏻♂️ that will be interesting to see! I hope he does something with it cause now it’s all cut in pieces in a small warehouse.
I just saw a video of some guy in UK who took the fuselage from an old jet and turned it into a BnB.
Thank you for sharing a beautiful aircraft.
Glad you enjoyed it!
The original Hawker Jet is NOT a Beechcraft design, it was conceived and sold by Hawker-Siddeley of England. Any of those models are really old. The Beechjet, which sometimes is refered to as the "Hawker" is a Mitsubishi Diamond, that Beechcraft later marketed as their own.
Pretty interesting video. In answer to your question, I don’t think you missed out only because you don’t have everything else in place to handle aircraft salvage. It’s not like buying cars at Copart, as you of course know everything is strictly tracked, every nut and bolt you sell has to have a paper trail, I can’t even imagine the regulations and licensing you’d have to put together to be a player in the aircraft salvage industry. You’d be better off partnering up with an existing company if that was something you were interested in because it’s definitely lucrative but not some thing that you could just “wing” on your own, so to speak.
Jeff you are a great storyteller you had me captivated 😀😃😄😁😆
There will be other opportunities in the future. I wouldn’t sweat it. As far as the Citation avionics, I’m not too familiar with those aircraft, but you would definitely need an STC to convert the older Citation to the newer avionics. I am not sure if that exists or not. You could also try and get a field approval, but for that work scope, the FAA or a designated person may not be willing to allow that (I have looked into that previously with a Cherokee I maintained).
learning is much more valuable then money
this kinda felt like a VinWiki vid lol. nice job as always
Hey, thanks!
The reason they're sold as parts is to prevent the previous owners picking them up cheap and reusing the things for more of the same
That citation was awesome! What a shame it gets cut up and parted out. I hope someone enjoys those engines
You and me both!
If the engines don't have logbooks with them, they're worthless, since total times, etc, can't be determined.
You probably would have had sizable dismantling, storage, and shipping costs--and you would have had to find buyers too. So don't feel bad. Sometimes a supposed missed opportunity can ultimately be a blessing.
Some are familiar with the cable show that focuses on plane and yacht repos: I've always wondered why those items can be resold by the banks "as is" with no use restrictions (provided the logbooks are included) but govt. seized items often can't be re-registered--seems unfair to buyers at govt. auctions.
Any aircraft that the equipment is approved for installation...HOWEVER you may need to re-purchase a new STC for a new aircraft.
You might need to create another channel.... JR Stories. Just put all the crazy stories over there and then do awesome stuff on your main channel :D
Maybe one day haha
@@JRAviation It worked for MrBeast... :D
@@JRAviation JR Aviation Wiki haha
Where were these planes put up for auctions? What page was it on?
Have a question for you guys. Why don't have lift that can stack cars on top on each oter? Take a like 4 or 5 car stack lift & you save TON of space....
Great video
Hey thanks for buying from our lemonade stand
The answer is depends. You would have to check the STC for applicable models. For example I can do an STC to install a wing from a 1960 and older 172 but not on the 1960's and newer. The wings are very similar but the newer ones have electric flaps that were not on the older 172's. Also jeff I would not have purchased them due to the transportation cost to move them from Florida to Arizona. Probably another 50K just in transportation cost.
A used hot section turbine rotor with good time blades from a big pt6 can run 50k
You a did not miss out on anything. Any Honeywell/Garret TFE731 must be run IAW with the maintenance manual every 30 days to be considered airworthy. Selling the engines, even as parts, you’d be lucky to get a dollar. You could dump $60k per engine to have the engine torn down, inspected, then additional cost to repair any damage.
I’m not sure why you say he missed out, you can sell used parts that have logs and 60k for a tear down and inspection is noting when a hot section rebuild can run 250k. Do your due diligence and work on getting customers in your network and you can make lots of money with parts
As far as parts only as with any sale, that condition only applies to the USA and any other Country that will not accept the FOR PARTS ONLY stamped on the title / certificate. Now if you bought this plane, disassembled it and took it to Indonesia, you could have got it airworthy there, but you are looking at 100k in sea shipping and another 2-300 k in taxes and reg fees there.
Live and learn. Just as we all eat FOOD, but that does not qualify us to go out and open a Restaurant. Gotta start small and work your way up the learning scale. Small mistakes = small losses = lesson learned.
Yes you could have swapped the avionics
Jr keep it up your doing a great job and you’ll get that cheap jet , and yes those garmins could be put right in you citation. Hopefully will cross paths flying around Arizona. Mike from chd
Your car collection looks great
Glad you think so!
interesting show..thank you
I have thoroughly enjoyed this video and it has also given me a great deal of insight. How do you gain access to government auctions. If Jr or anyone in this thread can share on this topic. I am looking to find a Cessna 182 or a Bonanza!
I wouldnt mind knowing this as well
If the Avionics parts on the old aircraft match the parts on the new aircraft STC and you have a dealer install them then you can use the old Avionics on the new plane. But it's not as simple as remove old equipment and install on something else
What auction site do you use?
U got the real deal... Like car auctions you will usually find drugs and weapons even after inspections... Better safe...
Where do you bid on planes?
Maybe disassemble everything and then use for "parts" to re-assemble all again with the same parts.
Do they have auctions for propeller driven aircraft? I would like to get a Beechcraft Bonanza or a Cherokee 235.
The opportunity of a life time will come back around, ya just have to keep doing what your doing... looking for it
What auction are you in contact with
You didn't make a mistake. When you don't know what you're doing, it is correct to pass. You didn't know what you were doing. Might have made a killing, might have gotten clobbered by transportation, mechanic, and other costs. Most business is a gamble, but that's not a reason to heavily gamble on starting something you don't have any idea of the cost of finishing.
Significant reward rarely comes without risk, do your research and start with what you can afford to lose, you will get better and better. Perhaps start with parts that might also fit on your aircraft.
I don’t understand why they wouldn’t let you keep it complete? WTF is wrong with the government?
The Garmin avionics should be able to be installed in any aircraft with enough panel space.
Where do you find these auctions ? Are they all in the US Property Auctions?
Hey maybe you could kickstart another pump and dump scheme and buy something nicer and newer.
One these days I'll see you at FFZ and shake your hand! You are doing good!
Definitely and thank you!
I know for cars that are seized by the feds for smuggling or if the have a hidden compartment, that can only be sold for parts. No title issued only BOS. Saw a AMG G Wagon sell for less than 10k at DEA auction. Same issue as with jets. With cars you find a wrecked one and change the VIN tags, now it’s legit. Well almost
It's $6.2 mil for 230 lbs. Precious metals are weighed in troy ounces.
I agree with a previous comment, the Citation will be flying for years into the future.
I mean I might be tempted to get them however it would probably not be worth it if you can't fly it unfortunately. Those were awesome aircraft tbh Jeffrey. I'd love to hear about that Hawker 800 that you and Christian almost bought.
Jimmy from jimmy’s world just bought Elvis Presleys old Jet Star for a whopping $234k and it will never fly again and didn’t even come with the 4 engines. So, yea these could’ve made you some good ROI. Those where some nice jets in what looked to be in really good condition considering their age. Next time! Lol. Love the videos! 🤙🏽🤙🏽
great story behind these jets/next time don't think too much about it for too long just do it
Man that citation would have been a steal at that price. 😨 we just sold two jt15d-4 with time on them in a similar situation for well over that!
Hey, We’re selling 2 JT15D-4 as well if you have any interested buyer, they’re in great conditions 2000 tbo and can do fresh hsi.
Gold is measured in Troy ounces so wouldn’t that be 14.583 to a pound not 16
thats called split monitors :)
The big question is where can you find deals with out the restrictions! Then it’s worth while. Bank repos????
There's always another auction. Just keep checking.
Anyone thinking about how close that Ferrari is to the car in front of it 😂
Wow!
How can I participate in one of these gov seized aircraft auctions??
You love to hear yourself talking
Where was the SII located? And where was the Hawker located?
Minium 400 flying hrs required for jet transtion
There are 14.58 troy ounces to a pound.
Where do u find these auctions?
The one with the modern avionics was a miss, I think. From all planes, there is a market for the engines. But you must have the space and time to scrape the parts off. More luck next time!
If I knew planes, I would have tried to win them if I could. But only if the parts market needs were there.
Usually there is a huge dissonance between the private jet enthusiast and the actual buyers of private jets, this millionair is the exception.
Soooo, if you cannot fly them as is, but are able to take parts of them and assemble them to some other plane, then those parts are allowed to fly again? So, why not disassemble the plane, exchange some minor parts, and then rebuild it as a "new" jet.... would that be a workaround to fly them legally again? How much would need to be changed to get out of the "illegal to fly again" clause?
knowledge gained is worth more than the plane
This is probably true
So you can't fly the plane, but you could find another airframe and swap everything into it... How does that make sense?
I'll take the Citation Longitude! ; )
If the avionics was garmin g1000 you could've done it
What site do you use for finding the government seized jets?
GovPlanet website?
@@sanfranciscobay Thank you for that! Currently browsing through that website and I think I’m gonna go broke now 😂
@@JTheWizard333 There may be many more Government Auctions. Customs, Border Patrol, Post Office, Police, Sheriffs etc.
You should have bought the jet and sold it to a friend as a replacement part, to replace the plane that was originally on another set of wheels. 😂😂😂
Good news. You didn’t miss out on the opportunity of a lifetime called HEX.
You could make an RV out of the plane. The most common problem that devalues RVs is the shell construction is so poor they leak, and that rots the frame, and interiors. But an airplane shell is far better. Even a school bus shell is better. Neglect it for decades, and no leaks.
Glad you didn’t get stuck with that jet that you can’t fly.