The real question is, why isnt insurance fixing it, or selling it, could he not get coverage or did he not have coverage?
Of course it would be smarter for him to repair it and either continue flying it, or sell it. But im guessing he either doesn't have the skills or like your leading to, he found much more damage than was first apparent. Given its a homebuilt it could be repaired with sweat equity and the cost of aluminum. But in any case i bet he gets 80 for it, heck there is a guy at spring bank who put a turbine on an an2, then put that same an2 on custom carbon fiber floats...to make it into a flying camper, just because he wanted to, lots of guys in this part of the country with that kind of cash.
Springbank, outside Calgary? I was trapped there for almost two weeks when they held the G-8 summit, in Kananaskis Country(2002?), long ago! LOL. We were bored enough to start snaring gophers from their holes, and dying them different colors with Kool-Aid crystals before releasing them... Red ones, purple ones, green ones... LOL!
The CF provided the Taxi Service from Calgary to the Summit. Fun times <spit!>. We were about a week out from the road move down to the camp that had been built for us at Springbank, and we all got called in to a briefing. They swore petty or better revenge upon us if we leaked any of the info that they were passing along, (secret, you know!), and proceeded to tell us that we were being a Taxi Service. One of our Comms Techs stood up when the Commanding Officer asked if anyone had any questions. "Sir, are we flying with live armed CF-18's on overwatch?" "Yes!"
"Will they attack aircraft that do not have IFF's (Identification, Friend or Foe)? "Yes!"
"Where are we getting IFF's to put in the rest of our Helicopters?" "We HAVE IFF's in our Helicopters!"
No sir, I am the tech that has been moving our four serviceable IFF's systems from aircraft to aircraft (we had, IIRC. 12 or 14 Bell 412's <spit> (pieces of crap!), ensuring that you had a working IFF on your flight!"
Was actually hilarious to see the CO glaring at the Squadron Engineering Officer and a bunch of other senior ranks that were parked in the front row, trying to be absorbed by their seats! LOL! Would have paid to be a fly on the wall, when THAT talk took place!
'Miraculously', someone found the money to buy the replacement IFF boxes that were previously considered 'too expensive'.
I consider that I worked WITH, a great bunch of Great People. I worked FOR, F**king Morons, who I would not willingly follow out a fire escape, if I had seen the flames with my own eyes! <spit>
One outfit in one of the Hangars there, was building a Turboprop 'homebuilt' with a Russian copy of a PT-6 on it, I was chatting with them, told of some of our capabilities, and ended up making some custom leather stick boots for the build, while killing time waiting for real work.
I'd bet that after paying what he did for the kit, likely paying to have it built (because really, what ratio of the guys spending that kind of money, really wants to put hundreds/thousands of hours in to hand work?), he probably skipped on the cost of insurance. Not that I can say I don't feel that way, I killed my $2K per year replacement contents insurance on my house, when I noted that the stuff they would replace, I didn't give a pinch of poo for, and could replace at will out of my own budget, while the stuff I valued, was worth nothing to the Insurer (photo albums, personal history mementos, family inherited antiques, art stuff, books, etc. Even my shop tools, if I was being incredibly generous, would not drag the total value of what was in my house, anywhere near what I was paying for. So I stopped it, cold.