Club Homepage Forums Classified Ads Buy & Sell - Everything But Airplanes Status of "Just Plane Parts, INC."?

Say it ain't so...

I just heard from a good friend that Rex is closing up shop at Clinton! "Just Plane Parts" inventory will all be auctioned off soon. My good buddy told me he talked to him personally after calling him and looking for a used prop.

I feel terrible for Rex and Beth...they were folks I always looked forward to seeing at Clinton, and always found something I could use from them to help the cause.

If anyone has better info., let us know. Sad day if they are closing down shop for keeps.

MM

Actually, it's not that grim for Rex. Here's his post in the Yahoo Group:

http://groups.yahoo.com/group/cessna_150_152_group/message/36731

Hung, the site would not let me through - needed some type of password or something...can you synopsize what the story is?

Thanks Hung. MM

Mike, Basically Rex is into flipping houses which he enjoys doing and it is taking more time than he has for the parts business.

I've bicycled all over Clinton. I can not imagine how someone could make a living flipping houses there--but I don't know anything about it.

?



Is that anything like tipping cows?

You can flip houses anywhere there is a housing market, regardless of average square footage or market value in the neighborhood. It's just the old "buy low - sell high" philosphy. My son just bought a "fixer-upper" house for $102,500. It needs about $5,000 to $10,000 in minor repairs, then would appraise for $180,000-$190,000 (the average price of similar homes in the neighborhood). He would then have the option of a quick sale below market value for a good profit, or hold out for a sale closer to market value and better profit. Either way he couldn't go wrong. No flip here, though. This will be their first home.

Back to the parts thing. I couldn't get in to the Yahoo site either. What's for sale, when and where? Would a group purchase ever make any sense? I don't expect everyone, but would some want to band together and consider this?

Mike,

Below is the post from Rex, dated 3/10/2010:

"Well Folks,

After alot of thought I have decided to close down my 150 salvage yard and sell off all the assests. I will be putting the whole thing on ebay and barnstormers next week. Should it not sell I will be moving everything to okc for the big starman bros auction in June.

This has been a very good business for me. I have just moved on to flipping houses which I really enjoy. However it is taking alot more of my time and I just can't alot enough time to the parts business. So time has come to end. After 23 years in aviation it is time to move on to a new phase in my life. I know I will greatly miss aviation and most of all dealing with all of you and not seeing everybody during the convention. Even though this was a very difficult decision I am very excited about my new business.

So to all of you I wish blue skies and happy flying.
Rex Brandt"

I just called Rex. Yep he's already stopped selling and started boxing. The auction is a consignment sale with Starman Brothers in Oklahoma in June. He will start hauling stuff down there in May. If someone wanted the whole pile. Around $40,000 would do it. He has around 9 fuselages a number of wings. Lots of other stuff. No engines, those are gone.

I've never been there and have no idea what he has, or what it's worth. He is of course not the only choice in the salvage business. But sad to see him go just the same.

I'd be willing to throw some time and money into a good value on a parts inventory. But I'd need to learn a lot more about it really fast.

Your ideas?