Court Ordered Online Auction Tomorrow (June 2) - North American P-51D Mustang

Strychnine · 06-01-2015, 07:09 PM

DFWmustangs ballers, unite!

1944 North American P-51D Mustang
25NT Serial #44-84896
Additional Packard Rolls Royce V1650-9 Engine

History / Previous Identities:
1963: N5416V, Lake Air Corp, Michigan City IN
1966: N5416V, James Keichline, Huntington Park CA
1973: N5416V, Ken Scholz, Playa Del Ray CA
2004: Ken Scholz passed away,
2011: N5416V, Marlene Scholz, Playa Del Ray CA
2012: Marlene Scholz passed away
2014: rep. part of estate auction

http://www.estatesales.net/CA/Torrance/90505/872457

6/2/2015 10am (Tue)

Airport Dr
Torrance, CA 90505

Estate Auction
Previews Taking Place At The Airport
By Appointment Only
Auction Conducted Online
Details at CWSMARKETING.COM

Terms and Conditions:
Preview is By Appointment Only: Call Sean 714-264-5740
Deposit Required to Bid: Cashier's Check Only; $25,000 for P-51; $2,500 total for Temco Swift, Packard Rolls Merlin and PT-22 Project
Final Payment by June 9th, Cashier's Check or Bank Wire Only
Removal: By Appointment Only
15% Buyer's Premium
High Bid Must Be Approved By The Court

inline 6 · 06-01-2015, 07:17 PM

Shes old and neglected. Will take twice what is paid to get her airworthy again.

LaserSVT · 06-01-2015, 07:19 PM

So which one of you ballers are buying it?

Strychnine · 06-01-2015, 07:23 PM

Quote:

Originally Posted by inline 6

Shes old and neglected. Will take twice what is paid to get her airworthy again.

Yup. I've been digging into it's past and it doesn't sound pretty

Quote:

I remember this P-51 sitting in the weeds at Torrance back around 1968. The radiator was missing (looks like it still is). Somewhere I have a picture of myself as a 10 year old boy looking dreamily into the cockpit.

Quote:

Ken Scholz bought N5416V in 1973. How much was it flown? Good question. I have no photos of it running or in the air. It was stored outside for several years, then moved inside his hangar where it sat - rarely touched. Ken, regarded as a nice and approachable man, passed away in 2004 and then his wife Marlene in 2012. The P-51 along with an extra Packard-Rolls Merlin are up for auction.

Quote:

This aircraft will have to be completely rebuilt to be airworthy - this could include all new skins, new longerons, new wings, new cockpit, new Merlin, prop ... the list goes on and on. The final tally will be a considerable investment.

This was 1991

inline 6 · 06-01-2015, 07:25 PM

After I posted that I thought to myself that my statement of "twice what was paid for it" was a bit optimistic. Its more of a yard ornament at this point.

Strychnine · 06-01-2015, 07:28 PM

Quote:

Originally Posted by inline 6

After I posted that I thought to myself that my statement of "twice what was paid for it" was a bit optimistic. Its more of a yard ornament at this point.

Yup.

Fucking cool yard art though!

David · 06-01-2015, 07:55 PM

If someone/group is willing to restore a B17 that was a roof ornament to flying condition, someone will do the same for this.

Broncojohnny · 06-01-2015, 07:58 PM

Some billionaire will be all over that thing

Sleeper · 06-01-2015, 07:59 PM

it will be restored. It makes you wonder how many offers he had over the years to sell it.

At the end of the day its a freaking p51. even un restored would make a good museum piece.

Slowhand · 06-01-2015, 08:02 PM

Quote:

Originally Posted by Broncojohnny

Some billionaire will be all over that thing

Rod Lewis of San Antonio is probably your guy.

Scott Mc · 06-01-2015, 08:38 PM

Who was looking for a plane? As far as buying for yard art, fuck yea I would if I had it. That's baller status IMO.

mk5.0 · 06-01-2015, 09:37 PM

Friedkin out of Houston ...

Tremor14 · 06-01-2015, 09:41 PM

ls swap and done.

CJ · 06-01-2015, 09:45 PM

it will go for a hell of a lot more than 25k, lol.

Strychnine · 06-01-2015, 10:37 PM

Quote:

Originally Posted by CJ

it will go for a hell of a lot more than 25k, lol.

that's just the cost to be able to place a bid

CJ · 06-01-2015, 10:39 PM

right

likeitfast55 · 06-02-2015, 12:07 AM

You are talking a couple mil + just to do a budget resto. Every nut and bolt will have to come off. A resto of that old girl will take years. I bet it goes around 1 mil at auction.

Considering 288 are in flying condition, some rich bastard will buy it.

46Tbird · 06-02-2015, 05:53 AM

There is BIG MONEY in warbird restorations, especially fighters, and particularly P-51s.

You guys are right - it will require a nut and bolt restoration and there will be a few parts that are either hard to find or will have to be made. It won't matter. There is no question that a P-51 that complete will return to the air. Many restoration projects have started as far worse than that.

It will sell for 1.8 - 2.2, and will probably be back in the air inside of two years.

David · 06-02-2015, 06:54 AM

I'll be shocked if it sells for the same price of a complete flying resto does right now.

46Tbird · 06-02-2015, 07:04 AM

Quote:

Originally Posted by David

I'll be shocked if it sells for the same price of a complete flying resto does right now.

I may be way off! You never know how an auction is going to go. But there aren't a lot of 'hangar find' P-51s left, so this is about the last chance anyone is going to have. Also, even a flying warbird requires expensive, periodic maintenance. This is a relatively low hours airframe and a blank slate for a shop to perform a signature restoration.

06-01-2015, 07:09 PM	#1
Strychnine UNFUCKWITHABLE Join Date: Feb 2003 Posts: 21,175	Court Ordered Online Auction Tomorrow (June 2) - North American P-51D Mustang DFWmustangs ballers, unite! 1944 North American P-51D Mustang 25NT Serial #44-84896 Additional Packard Rolls Royce V1650-9 Engine History / Previous Identities: 1963: N5416V, Lake Air Corp, Michigan City IN 1966: N5416V, James Keichline, Huntington Park CA 1973: N5416V, Ken Scholz, Playa Del Ray CA 2004: Ken Scholz passed away, 2011: N5416V, Marlene Scholz, Playa Del Ray CA 2012: Marlene Scholz passed away 2014: rep. part of estate auction http://www.estatesales.net/CA/Torrance/90505/872457 6/2/2015 10am (Tue) Airport Dr Torrance, CA 90505 Estate Auction Previews Taking Place At The Airport By Appointment Only Auction Conducted Online Details at CWSMARKETING.COM Terms and Conditions: Preview is By Appointment Only: Call Sean 714-264-5740 Deposit Required to Bid: Cashier's Check Only; $25,000 for P-51; $2,500 total for Temco Swift, Packard Rolls Merlin and PT-22 Project Final Payment by June 9th, Cashier's Check or Bank Wire Only Removal: By Appointment Only 15% Buyer's Premium High Bid Must Be Approved By The Court Last edited by Strychnine; 06-01-2015 at 07:18 PM.

06-01-2015, 07:19 PM	#3
LaserSVT Don't care, had bacon. Join Date: Mar 2011 Location: Waco Posts: 6,549	So which one of you ballers are buying it? __________________ Good judgment comes from bad decisions and a lot of that comes from bad judgment.

06-01-2015, 09:37 PM	#12
mk5.0 Junk Collector Join Date: Jul 2001 Location: Tejas Posts: 3,731	Friedkin out of Houston ... __________________ 07 GT500 05 SRT10 88 turbocoupe T-bird 93 Cobra 86 coupe Ducati 848

06-01-2015, 09:45 PM	#14
CJ User is editing post Join Date: May 2002 Location: Arlington, TX Posts: 37,623	it will go for a hell of a lot more than 25k, lol. __________________ "When the people find that they can vote themselves money, that will herald the end of the republic." -Benjamin Franklin "A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury." -Alexander Fraser Tytler

06-01-2015, 10:39 PM	#16
CJ User is editing post Join Date: May 2002 Location: Arlington, TX Posts: 37,623	right __________________ "When the people find that they can vote themselves money, that will herald the end of the republic." -Benjamin Franklin "A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury." -Alexander Fraser Tytler

06-01-2015, 07:17 PM	#2
inline 6 IN GOD WE TRUST Join Date: Aug 2001 Posts: 7,885	Shes old and neglected. Will take twice what is paid to get her airworthy again.

06-01-2015, 07:25 PM	#5
inline 6 IN GOD WE TRUST Join Date: Aug 2001 Posts: 7,885	After I posted that I thought to myself that my statement of "twice what was paid for it" was a bit optimistic. Its more of a yard ornament at this point.

06-01-2015, 07:55 PM	#7
David Lifer Join Date: Apr 2004 Posts: 18,765	If someone/group is willing to restore a B17 that was a roof ornament to flying condition, someone will do the same for this.

06-01-2015, 07:59 PM	#9
Sleeper cheesecake Join Date: Jul 2001 Posts: 10,953	it will be restored. It makes you wonder how many offers he had over the years to sell it. At the end of the day its a freaking p51. even un restored would make a good museum piece.

06-01-2015, 08:38 PM	#11
Scott Mc Outcast Join Date: Feb 2004 Posts: 6,489	Who was looking for a plane? As far as buying for yard art, fuck yea I would if I had it. That's baller status IMO.

06-01-2015, 09:41 PM	#13
Tremor14 Banned Join Date: Sep 2014 Location: richardson Posts: 6,376	ls swap and done.

06-02-2015, 12:07 AM	#17
likeitfast55 Lifer Join Date: Jul 2003 Posts: 3,300	You are talking a couple mil + just to do a budget resto. Every nut and bolt will have to come off. A resto of that old girl will take years. I bet it goes around 1 mil at auction. Considering 288 are in flying condition, some rich bastard will buy it.

06-02-2015, 05:53 AM	#18
46Tbird Yip Yip Yip Join Date: Jun 2001 Posts: 40,512	There is BIG MONEY in warbird restorations, especially fighters, and particularly P-51s. You guys are right - it will require a nut and bolt restoration and there will be a few parts that are either hard to find or will have to be made. It won't matter. There is no question that a P-51 that complete will return to the air. Many restoration projects have started as far worse than that. It will sell for 1.8 - 2.2, and will probably be back in the air inside of two years. __________________ When the government pays, the government controls.

06-02-2015, 06:54 AM	#19
David Lifer Join Date: Apr 2004 Posts: 18,765	I'll be shocked if it sells for the same price of a complete flying resto does right now.

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode