Patches wrote:I have the opportunity to purchase an 1961 C185 w/an IO-470.
Never registered in US, belonged to Mexican airline in Baja since new, clean title search
I'm not a 185 guy, so I can't comment on the plane. But it seems like many others already have, so no loss there.
I do live in Mexico though.
You are right to be wary of the Mexican registration. Right or wrong, if you complete this project and do a ground up restoration into a perfect plane with an N registration, that logbook history will still be a drag on the final value. Some buyers will be able to look past it, but others won't.
Depending on where in Baja you are talking about, corrosion could easily be an issue. Make sure the parts you think you are buying with this project are actually still airworthy, it sounds like he might have sold off a bunch of the stuff that is airworthy already.
The biggest deal will be negotiation. Do not hesitate to offer what you can do the deal for. Do not couch it in apologies. Someone on this thread suggested buying it and parting it out. If that's a possibility, then it's also a possibility that the current owner knows that value as well (as supported by the fact that some of the valuable parts are already missing). You won't be able to lowball that guy in that case, but neither is he likely to be offended by any serious offer. If you say "I'm going to restore it and that doesn't make sense unless I can get it for $2,500, so that's my offer" then leave it at that. The Mexican culture tends to not say "no" to things. So if he doesn't want to accept it, you very well might get a response along the lines of "let me think about that and I'll get back to you", then never hear anything again. Seems rude in the US, but it's pretty normal there.
Crazy deals happen. Stay in touch with the guy. If he goes silent today or even does say "no", ping him again in 6-12 months if you're still interested. The hangar next door to mine had a 90's vintage VFR 180HP Maule in it that was probably worth $40-50K or so USD. He got a new girlfriend, they got serious, she said no more flying, the Maule needed new plugs so was out of annual. Between all those factors he ended up selling the hangar and the Maule for a combined $30K/USD.
Things in Mexico rarely go at the same speed as in the US, but if you learn a few things about the culture then you can be successful within the system.