According to the owners manual for the 747, the most likely answer is that it requires a "D check", which is the 4th major maintenance check on the aircraft and

According to the owners manual for the 747, the most likely answer is that it requires a "D check", which is the 4th major maintenance check on the aircraft and will likely need major repairs. Also there is a modification called the "section 41" mod which is required of this aircraft, but most likely hasn't been done either. They estimate it at 7.5M to do both, and that was in 2005. Throw in the fact that this thing isn't really that useful to an airline and you can see why the market value is so low. Also, the manual states: "Values of most 747-200s have now fallen to scrap level. That is, the intrinsic value of an aircraft is directly related the market value of its engines and any salvage value that can be derived from its rotables" Which leads me to my last point - this aircraft might not have engines. Usually power plants are listed. Related: http://www.aircraft-commerce.com/sample_articles/sample_articles/owners_guide.pdf http://www.aircraft-commerce.com/sample_articles/sample_arti...