BANKRUPTCY Sale

Time:  September 7, 2006, 10:00AM (Arizona Time)

Location:  230 N. 1^st Ave, #701, Seventh Floor, Phoenix, AZ

map to auction location

If you are interested in bidding on this aircraft, you need to be present at the above location at the 10:00AM on September 7, 2006.

NO RESERVE

NO BUYERS PREMIUM

Current Bid: $13,000.00

Next Acceptable Bid:  Determined at Court Auction

1947 Luscombe experimental aircraft- aircraft registration #N2638K

Turbine Engine: Sunstrand Solar T-62: original manufacturer modified by Apex

• Cowling goes on over Turbine engine
• Turbine Engine has approx 199 hours
• engine was designed for power unit in helicopter
• estimate is it should be good for a couple thousand hours
• gas turbine-runs on jet fuel
• redesigned by apex
• it had a full hot section and re-inspection about 60 hours ago
• typical: flat-4   85-100 HP 220 lbs is what came with the plane
• per hour jet fuel 21 gallons/hour—takeoff
• cruise at 15,000 10-12 gallons/hour
• indicated airspeed is around 130mph ~ 120 knots
• air frame hours-old airframe gone through 200 hours ago
• had over 2000 hours
• registration stapled to the back
• air worthiness certificate – has not been inspected in over 2 years
• prop pitch is electric, not hydraulic
• $6000 ten years ago to fix prop
• He emergency landed the plane on a road a couple of years ago and it hasn’t flown since
• requires endorsements to fly a turbine engine
• once a pilot gets qualifications-which will be 100 hours turbine time and 20 hour checkout in airplane insurance will be approx $5,000 a year
• back seat weight limit is 100 lbs
• total gross weight is 1750-fuel and passengers
• Passenger weight is 1100 lbs
• 125000 to build
• appraised at 55-57K
• engine is worth 15-20K
• airframe is worth 15-20K
• propeller needs to be replaced