The Abandoned Gulfstream GIII Is Back on Auction! Should I Buy It For $30,000?
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- Опубліковано 11 чер 2024
- Today we try to buy an abandoned Gulfstream GIII private jet at auction AGAIN. This private jet has been sitting for years on end, and now it's back up for auction again. The current bid is only $30,000, so should I try to buy it? Can it be saved? This plane is worth millions in nice condition, and these are available for just a small fraction of that. Will these engines start up and run after many years? Enjoy this video as I explore this abandoned plane.
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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, including this one, have been significantly edited down from the original full length raw footage. Many radio calls, checklist steps, and other procedures have been omitted to keep the videos a reasonable viewing length. Please speak to a CFI with any flying questions you may have.
I found the owner. Black Rock Thoroughbreds. Owner is an Oilman Energy company CEO. Steven Marshall is his name. Farm is in Kentucky. Google map street view shows the same logo on the entrance to the farm. He hosts a Derby party in LA called Fillies & Stallions. If you google it you can get more info. You could probably reach out to get more history on the plane!
Before the auction the aircraft was owned by Maverick 8 Transportation LLC which had a single aircraft in the fleet, this one. There is no other information at all on the company, and they seem to have vanished, which is odd. Black Rock has a lot of money, but I don't think they'd just casually abandon a Gulfstream. Something stinks about this plane, admire from a distance.
I worked at guardian jet center and I moved the plane into that hangar for the last guys that bought it. He was convinced that he was going to get it flying in less than 2 months but that didn’t happen. No one wanted to help and get sucked into it
makes sense. a plane that expensive , especially without logs or interviews from former pilots, its a massive liability for anyone who touches it to try to bring it in the air not even just selling it.
honestly for $30,000 you could do something cool with it like rent it out to influencers or make it an airbnb that would be really interesting
set it on some pontoons and make a boathouse or houseboat out of it.
Get Jimmy to buy it! 🤣 He loves a plane deal! Thanks Ray 🇨🇦
Right 😂
it probably was Jimmy that bought it
what could possibly go wrong lol
I tuned in to the auction this morning. The auctioneer opened asking for $300,000. It quickly dropped to $100,000 and I think it went for $30,000-35,000 but the auctioneer noted that it was pending Ontario airport approval.
Just for reference, I bid on ONE Spey engine a couple years back on eBay and got a counter offer of $3,500 - and passed. My goal was to take it apart and sell the LP stages once polished (I bought a stage 1 and 2 LP set polished several years ago).
Without logs (especially the engines), the aircraft is purely scrap value.
Sale price was $40000, pending approval
This thing will cost you a fortune just to cut it up and scrap it. I spent a few years in the Boeing Repair Station in Seattle repairing and returning to service used components. I'm sure all of the marketable parts have already been picked off of it. My best day was selling all of the 707 inventory to a guy in Denver in one deal. Don't walk away from it, RUN!!!!
Dear Jeff.... Nice curiosity item, but RUN LIKE THE WIND away from it. You won't believe the money pit these old planes could be. I've been in aviation for over forty years... I would NOT acquire this plane if it was handed to me gratis. I have nine type ratings, 21,000 hours, (including Gulfstreams). It was abandoned for a reason, no economic sense, and can't legally fly in many airports due to it's really noisy (and thirsty!) engines. These models simply convert dollars to noise. The corrosion issues in these things can be ENORMOUS, and not with the engines, mostly in fuel tanks. I've seen $million+ spent just to mitigate wing corrosion.
Good video, I worked at Gulf stream in Savannah for 4 years in the service center, there was a number of g3's that would come in for service for item A and then of course inspection would start looking at the aircraft entirely and would find item B. Item b was usually corrosion in the wingskins where water that is heavier than fuel would accumulate and if not drained periodically or was not flown regularly would end up causing corrosion. We had one airplane sit in the hanger for 3 years and they were reskitting the wings and finally the owner just gave up and said there's no way I'm going to put another dollar in repairs and restoration.
i think u know😅
@@AlanMydland-fq2vs by the way these aircraft are totally overbuilt You could probably have 20% of the wing eaten away with corrosion and that sucker would fly on for years and years.
The key to owning one of these older aircraft is to have a great relationship with a mechanic/IA that has phenomenal NDI experience, also a good understanding of the systems. You wouldn't have to employ them full time but just put them on retainer guaranteeing him say $25,000 a year He will almost sign off anything for $25,000 a year for only 6 weeks worth of work lol
@@christophergagliano2051 What is "NDI experience"?
@@lobrow7661 Non-destructive inspection
@@lobrow7661NDI "Non Destructive Inspection". Inspections are done with Eddy current, which looks for abnormalities in the metal.
Please make more contents about that plane, there is only one i think i can find so far with value information about this topic...... thanks..... keep up the good work........
It's not just a Duck, it's a DEAD DUCK, and dead Ducks don't fly very well. !!!!
I would recommend that you focus on making smart decisions before buying and then flying the planes you currently own. Like not buying an aircraft sight unseen then immediately flying it cross country and at night over mountainess terrain. Big no,no!
Have a full inspection done by a certified mechanic followed by test flight(s) by a qualified pilot / mechanic and repair any issues that could lead you straight to a big smoking hole in the ground before you even consider buying and flying a plane. This isn't like rolling the dice on a porsche at a copart auction. Porsches don't fall out of the sky when something goes horribly wrong. Cheers!
*Unless it's a Porsche-engined Mooney...*
Cool old plane, but as you found out with the Citation, old jets cost a fortune to keep in the air. I'd admire from a distance.
I think you’re right
@@JRAviation no guts no glory
Hey! Great videos you have!
I got a question, on your new mind set opinion, what do you think would cost to make this GIII airworthy again?
Would that cost include a major interior refit or just the flyable adjustments?
Just wonder what one could buy with the same fix money for this GIII.
The engine sound is something that I love to hear. I saved some GIII videos as favorite just to enjoy with maximum volume. Again, thanks for sharing so much info regarding the Citation 501 maintenance.
Keep up the goo job!
With no experience of my own, I would never offer advice. I liked the upload and look forward to your next flying video. I am on the other coast and would love to fly the desert.
I’m guessing $73,050 final gavel bid. Great video!
with your history of buying crap planes I'd say stay away.
Hahaha that's so harsh but true
You’re not wrong about that. Doesn’t matter how wealthy you are. That jet is awesome I love them however that’s financial suicide. It’s old and needs extreme work. I’ve seen many and stepped foot on many. Awesome bird. Just not practical
LMAOOO
Buy it and park it next to Jimmy's Elvis jet. They'll make good company for each other!
Clearly both engine cowlings latches have been popped open in the new pics and I'm guessing the engines were inspected. I do like the "fake flex" idea to cash flow the plane but how much would it cost to relocate a non flying G3? You could ask Jimmy's World he relocated the Elvis jet.
Buy it and do something on the ground with it like you mentioned. Just don't try and get it in the air. We operate a G650 and a Challenger and the annual costs are considerable. And these are in excellent condition flying several, times a week for business. Just don't do it if you want to try and get it back in the air or all those pretty cars will be gone.
For 30k I think it'd be a good business move to turn it into an AB&B or Instagram Fake Flexing like you said. Would pay for itself in 12-24 months depending on.
Absolutely,
I love the idea someone else posted in your intro - after you do IG influence pictures, you could rent it to a production company to make films of an explosion of corporate jet - as in a movie set prop. I bet they would pay more than $30K for that alone.
*Ha!, ha! That would be worth seeing.*
Yes you can do a lot with it. As long as you get it cheap.
How does something like that even get abandoned? It's total mismanagement for the owner to not sell it as soon as they don't need it. It would have been worth something if it were still maintained and airworthy.
Black Rock being the original owners, I would guess that with amount of money that they have, they probably forgot they owned it.😅😅😅😅
@@TheGtp01*Reasonable assumption and not unusual. When RTX finalised the GMHE purchase in Dec 1997 for transfer of assets, RTX found HAC-owned aircraft parked all over the world, not only at VNY and LAX. Not really abandoned but just parked for years unflown. Two were Navy A3Ds. Yeah, the Navy got them back. Cheers!*
What are the hush kits worth? How much are the RR engines worth? How much to keep it at Ontario during the part out? That's the business decision.
I like the title, “Should I buy it for $30,000?” Like all you have to do is have it detailed and it’s pretty much ready to go.
Don't big over 50K. Byt $40K and under might be a good deal, depends on what you do. You could scrap it for parts and make it all back. Yokes $1000/e, Avionics $20K, and other interior parts you could sell either to people who need them, or just collectors. Or shred it up and make plane tags out of it for $25. That's make you about $100K if they sell well. Theres lots you could do, but I wouldn't go over $50K
Old avionics.worth 5k
@wallyworld9096 Ah true my bad but still, you could get some resale value out of some parts
Plus Jeff said he could refurbish the interior and rent it out for videos
@@nickflyyys no one is talking about will Ontario let you take it apart and require i think 5 mil in liability insurance. We do this for a living figure about 15-20k to do the job. Feldpouch will do it for about 70k or more. Too bad they let it go to crap.
Sold for $40k pending approval
I saw this plane & ran to my dad like "Let's just flip it!" LOL Im pretty close to Ontario.
we need more new car videos guys, 5 moths since the last cayman video, and you were teasing us about more boxster vids :-(
you could get that airworthy and maybe operate it as a charter in other countries. Depending on total time on that airframe that is. Fly it at about 10.5 and not worry about pressurization
Major point - check to make sure that the paperwork is order. If not then I suggest forget about it, however if paperwork in order I'd believe that you could turn a lemon into lemonade.
It would make a cool lawn ornament for a mansion🤷♂️
That's a major overhaul!
Yeah I'm always excited to buy some piece of ,----.
I’m guessing it sells for $69,420…
loooool
why are you commenting from this account? Post more content smh. At least an update...
It would make a really nice chicken coop!! I m sure you can start a blog on raising chickens in planes
Always do what you think you can. Other people are not your best advisers.Makling it an "Air B&B" is funny!
Have you made a video talking about how you got to where you are? From work, to school, and everything in between? I'd be interested to see that.
*Dig back in the first videos both here and JRGarage. Beginning in high school, there you can piece together Jeffery and his brother's entire backstory. The guys have been busting their a$$es since they were teens. With smart, supportive but wisely camera-shy parents, what you see today is the fruits of their own initiative, smarts and labours. Do it and be amazed. Cheers!*
G, day from Sydney Australia. That's quite a jet. Depends on the X2 RR at the tail? Possible lease two engines with maintenance agreement and replace the missing avionics. Then meet the FAA airworthiness.
Estimate @ $850,000.00 excl leased engines.
🌏🇭🇲
So anyone know what it sold for? Do a third video and interview the new owners of you can.
What about the log books? If logs are part of the deal worth a serious look.
The auction came across my desk last week, and I immediately thought, "is that the same GIII?"... yup, it is. Interesting, and cool that you did the previously video. It makes for an interesting story indeed. At any rate, the logo on the cushion looks like a horse inside a drop of oil. Possibly the old Black Rock Drilling? I highly doubt it flew Larry Fink around. But, again, good story.
$30k or $300k is immaterial difference compared to what it will take to fix it up.
Love you video's Bro. Tones of love from India
I want the engines to fix up for ground use only as blowers or noisemakers 😊
Maybe sell the engines to an enthusiast for use in a race boat?
Editing Jeffery is a voice of reason. Videoing Jeffery should listen to editing Jeffery.
😂😂
Inspections due alone will be a big $$$$$$. I have worked on these. Who knows where those RR engines are at in time and inspections that are due.
Jimmy's cliff hanger in his video makes sense now. It was a quick mention i think that could have been missed easily.
Absolutely. It's less than your Bonanza's annual.
you will not be able to get it flying again due to the lack of parts availability . The engines are toast . This old technology is hard to update and acquire STc,s . Good for scrap metal. So how are you going to aquire 8130-3 tags for the spares.
Did you already buy a Pilatus PC-12 ? I am new to your channel.
If you turn it into an airbnb type thing then yes but definitely not to fly. I work on Gulfstream’s and they are expensive ASFFF😂
With that much time on the ground what do you think the parking fees would be?
just trying to bring this plane back would be excellent videos.
You have GOT to but this PLANE!!! I have a great great great feeling that this Gulfstream is going to look spectacular once its in ownership of ya'll tbh. I honestly think it will be price potentially slightly highly or so then the current price, like $34,100.
Yes
Do the fuselage photo thing, sell the hush kits at a bargain... money in the bank. Oh well past tense, but parts $$
Def this old bird could be an AB & B or for photo shoot.. how about the parts if to parts?
I used to buy GII/B's GIIIs for $6Mil-9Mil and flip them lol you could resell them all day long. Pity its not S/N 400 and beyond, then it would be worth a lot more money.
BTW... The Ferrari is BANGING ❤❤❤❤❤
Beautiful plane, it will very interesting covert it to air bnb, but where to park it? Do you own a big rural land?
*Well, there is their Montana spread with shared runway...*
Looks like the new owner is a good sized commercial electrical contractor. No idea what they were thinking buying that.
Yes, and turn it into a an "AIR" bnb. like i said in last video.
The G3 seems to be removed from the Auction site.
Ontario airport ? We have many here. Toronto Pearson?
New listing says NO log books and sold as is, forgetaboutit and get a G650 and never look back.
I would say it will go up to around $236000
Use it for video shoots or convert to Airbnb
I would buy it and fix it as an AirBNB and then put it somewhere in Orlando near Disney, so tourist can book it. I live in Orlando, and that would be cool.
That G3 once owned or leased by Black Rock, pass on that plane. There's more about it than all the things you listed.
Take care
Enjoy your videos
I will say go for it and buy it life is too short. $30k?
You can beat it.even it $50k.
Not to mention projects on this jet will be exciting and will bring more viewers in your channel. If it didn't runs, you still will win renting for Hollywood stars for photo shoot and if it runs, more profit 😊
Hangarage fees start the day after the auction. Where would you put it? Its not flying and its not going on the ramp 💰💰💰,💰💰💰
still at 30k. i say buy it, get the interior clean, get the outside all fixed up and pretty and then you could probably sell it for AT LEAST double. who knows.
Run!!!
New listing still says no log books.
Pls do some, some more automotive content again. Buy a 914 or so.
Way too much money will be put into this aircraft in the long run to get it airworthy. From trying to source the missing parts, performing all of the inspections, and the repairs of the guaranteed corrosion. If you have the ability to relocate the aircraft to a facility or property for filming and model photography, that would probably allow you a better chance for funds. The only issue is the cost for moving the aircraft. Tearing it down, oversize permits, cranes, etc.
Maybe up to $50k it could pay you back, even if you don't fly it. Does it have logs or not? Withut them, only cost out parting it or for photo shoots/BnB/Glamping use.
Much above that, it'd require too much time, effort and money from you.
Unlike a free boat, a G-3 will cost hundreds a night storage costs. Engines have hush kits apu will have issues. Ours was donated to a Museum, sold for 30 k. Expect engines are timed out . Spend 4 million and u’ll fly a gas hog that looks ok but needs winglets to look kinda modern
You would need an edge. Contact Black Rock and get the background. Why was it abandoned and where are the logs. It is IMHO like the Porsche Caymans. If you have the info that no one else has then buying it for $50k could be a win. But you need something that everyone else missed where you know that if revealed it would suddenly be worth something. Right now it looks like a negative asset where it would cost more to cut it up and transport it than it could be scrapped out for.
Blackrock will have log books they will be lost in some storage place.
I would buy it myself , make it airborne again , and keep it.I know of two pilots to hire , and maintenance crew.
I won’t be surprised if Jimmy gets it.
7:06 Why are the engines totally asymmetric?
It sold for $40k... probably cost more to move it, so not a good idea unless you can sell those hush-kits....
Damn bro that hair is tough
As of 9:10 EST 12/9/23 the bid is at 20k...
I like your idea of having a biz jet photo studio, but that’s not worth more than $10G all-in.
Fun
Hell yea you should buy it! haha
If you found maintenance on a Citation to be expensive then you need to stay away from G3s.
I tried to follow the auction. Last time I checked it was at 20,100$. Next time I tried to check I wasn’t able to access the auction. I guess it was over already? Would be interesting to see what’s happening.
40,000 it went for/
All I'm seeing for this is like an AirBnB (name checks out)
If you purchase this then you may not have a G111 Training facility available to get your type rating
I guess the question to you is how much money are you willing to lose? A plane that has sat that long in the elements is going to have some very expensive repair costs!!!
If you can get this plan for a level or thirty grand jump at it, take it. 😅
In Puerto plata airport in dominican Repúblic they one like this abandoned wather sun 🌞 and raining
Worth 100k max now. I think maybe😅
I know nothing about planes other than what I like, I honestly thought this was about a plane call Gill.... 🤦😂
buy it and make a cocktail lounge :)