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Old 06-01-2015, 07:09 PM   #1
Strychnine
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Default 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.
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Old 06-01-2015, 07:17 PM   #2
inline 6
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Shes old and neglected. Will take twice what is paid to get her airworthy again.
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Old 06-01-2015, 07:19 PM   #3
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So which one of you ballers are buying it?
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Old 06-01-2015, 07:23 PM   #4
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Quote:
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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

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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.
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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.
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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

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Old 06-01-2015, 07:25 PM   #5
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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.
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Old 06-01-2015, 07:28 PM   #6
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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!
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Old 06-01-2015, 07:55 PM   #7
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If someone/group is willing to restore a B17 that was a roof ornament to flying condition, someone will do the same for this.
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Old 06-01-2015, 07:58 PM   #8
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Some billionaire will be all over that thing
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Old 06-01-2015, 07:59 PM   #9
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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.
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Old 06-01-2015, 08:02 PM   #10
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Some billionaire will be all over that thing
Rod Lewis of San Antonio is probably your guy.
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Old 06-01-2015, 08:38 PM   #11
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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.
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Old 06-01-2015, 09:37 PM   #12
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Friedkin out of Houston ...
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Old 06-01-2015, 09:41 PM   #13
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ls swap and done.
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Old 06-01-2015, 09:45 PM   #14
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it will go for a hell of a lot more than 25k, lol.
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Old 06-01-2015, 10:37 PM   #15
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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
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Old 06-01-2015, 10:39 PM   #16
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right
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Old 06-02-2015, 12:07 AM   #17
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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.
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Old 06-02-2015, 05:53 AM   #18
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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.
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Old 06-02-2015, 06:54 AM   #19
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I'll be shocked if it sells for the same price of a complete flying resto does right now.
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Old 06-02-2015, 07:04 AM   #20
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Quote:
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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.
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