There are pros and cons to buying any new or used aircraft. There are obvious advantages to buying a new plane —the latest avionics and safety features, a warranty, and that new plane smell, to name a few. But those pros are offset by a couple of big downsides: the cost and long wait time.
To sidestep those shortcomings and take advantage of current market conditions, many potential buyers are considering pre-owned jets. However, fears of incomplete logs, unknown previous owners, potential repairs, aging components, and a lack of bells and whistles make some would-be buyers nervous. But all of these potential downsides can be avoided by working with an experienced jet broker.
A knowledgeable broker eliminates the risks involved with purchasing a pre-owned jet by providing you with access to jets that have a known history with complete logs, maintenance records, and information about the previous owners.
The time is right
And the timing couldn’t be better for talking with a broker about purchasing a pre-owned jet. Since the financial crisis of 2008, the value of previously owned business jets has been declining. Before that time, there was a large push to order new aircraft. Then the economy began to tighten and many of those lightly used aircraft went on the market, leading to a current surplus of undervalued pre-owned jets.
Now is the time to take advantage of this robust used jet market. Buyers today have an opportunity to purchase any variety of pre-owned jets at a great value, but it isn’t likely to stay this way for long.
More jet buyers are entering the market as commercial travel becomes increasingly cumbersome and international demand for private jet ownership grows. As the interest in used jets continues to rise, the supply of pre-owned aircraft will be stretched thin and costs will go up.
The reality is that potential private aircraft buyers are already recognizing the great value offered by previously owned planes. Many older model airplanes are undervalued, despite the fact that they still have long lives and offer great performance.
Unbeatable value, limitless potential
One large appeal to used aircraft is the customization factor. A used jet easily can be modernized and customized to fit the buyer’s needs and budget — either all at once or over time. Improvements range from relatively inexpensive after-market products to full overhauls.
Quick ways to personalize a secondhand aircraft include updating the paint, recovering seats and headrests, and installing a new windshield. And technology upgrades can convert a used plane into a high-tech aircraft that rivals new models. Adding features like a speech-recognition system, cutting-edge avionics, and LED lighting will modernize any aircraft.
A private jet is always a crowd pleaser no matter the size, age, or price tag. But for the value, a pre-owned jet is a great option. Talk to the brokers at L & L International today — their expertise can guide you to the right pre-owned jet at the right price.
Contact L & L International if you need assistance in purchasing or selling a private jet. You can reach our sales specialists today at sales@L-Lint.com, call us any time at 877-453-8276 (+1.305.754.3313), or visit us online.
If you’re already thinking about how to start the New Year, you’re not alone. On top of spending more time with family and friends, many of us are putting the following right at the top of our 2014 business resolution list:
- Reach out to new customers and expand our company’s reach
January is the perfect time to make these things happen, and a business jet can help you check all of these items off of your list:
- Save time and reduce stress. Commercial air travel is time consuming and frustrating. With your own jet, there’s no more arriving to the airport hours early just to strip down in security lines or deal with cancelled or delayed flights. Private air travel gets you in the air and on the way quickly, dependably, and without hassle.
- Grow your business. Flying commercially tethers you to a handful of locations and strict time schedules. With a corporate jet, the globe is your office. You can make business connections like never before and meet new customers in hard-to-reach places when your schedule permits. Having the ability to build relationships on a personal, face-to-face basis is priceless.
- Make travel time work double time. Corporate jets boast comfort and technology features that are far above what you’ll find in the commercial airline industry. Your jet can act as a second office to ensure that you stay productive en route — meaning you’ll boost productivity and still be home in time for the weekend.
Plus, a private jet can be the right investment if spending more time with family and friends is a top priority. A jet allows you to take control of your travel schedule, and because you can fly directly to your destination — even to multiple destinations a day — it means you’re better able to plan for time outside of work.
There are a number of investment options from sole ownership to fractional ownership to charters and more, and an experienced jet broker can help you identify the ideal jet and financial setup for your situation. The right jet can ensure your company’s success and make your New Year’s resolutions a reality in 2014 and beyond!
Looking for the perfect (and packable!) gift for your jet-setting friends and family? Check out these unusual, stylish, and useful stocking stuffers for the upcoming holiday season:
- Stay sharp for meetings around the globe with this travel shoe shine kit. It’s sophisticated and stylish and contains everything a traveler needs to keep their shoes polished and looking good.
- To stay cozy in cool aircraft cabins, give your traveler a cashmere throw. This premium cashmere throw is lightweight but delivers sumptuous all-over warmth, and you can find it in your friend’s favorite color.
- For the photographer on the go, try a real-time image editing camera from Olympus. With a 3-inch color LCD touchscreen, you can adjust color balance, brightness, and depth of field and immediately view your changes.
- The Frank Lloyd Wright floor globe is a great gift for architecture aficionados. This nifty floor globe was a concept intended for one of Wright’s Prairie Homes. It exhibits classic form-follows-function principles, strong horizontal lines, and simple geometric forms — all hallmarks of the Prairie School movement.
- Beautifully machined and constructed, we recommend these self-retaining cufflinks from HollenWolff. They’re ideal for the guy who normally doesn’t wear cufflinks. They’re turned from solid bars of steel and are brilliantly engineered with a push-button lock mechanism.
- You may think your pals would be less-than-thrilled to receive socks in their stockings, but these aren’t just any socks — they’re cashmere ribbed socks by Paul Stuart. These warm socks in playful designs make them an ideal stocking stuffer for the practical and stylish traveler.
Any one of these goodies would make a great last-minute gift purchase — or, you could consider getting all of them! That way you’d have an excuse to get something swanky for yourself to help you deliver all of your packages in style, like this Oak & Eddon bag by Libero Ferrero.
Happy shopping — and happy holidays!
Aside from telling the world your brand is successful and stylish, customizing your business jet may be just what you need to set yourself apart. Branding your jet is much like branding your website or your corporate office space, and it has the same effect: It sends a message. What message do you want to send?
“We’re stylish.” Perhaps your jet could use an exterior paint job to up your flashiness-factor upon arrival. Consider Prada: The fashion house is synonymous with the color black, so it’s no surprise that the company’s business jet — a Gulfstream G450 — is detailed with an all-over matte black.
“We’re detail-oriented.” When Donald Trump purchased Microsoft cofounder Paul Allen’s Boeing 757, he dropped another $100,000 to refurbish it to his gold standard of detail. According to a video tour by Amanda Miller, Trump’s assistant, the main cabin features all-leather sleeper seats adorned with the Trump family crest, 24-karat gold plated seat belts, and personal A/V systems. For business clients, showing your attention to detail can make a sale. If you want to come across as thoroughly meticulous, consider putting some capital into your jet’s interior fixtures.
“We take security seriously.” If your business takes you into dangerous areas or you’re flying someone high-profile, investing in tech-savvy gadgetry will set you apart. Look at Air Force One. While Air Force One is the call sign of any aircraft carrying the president of the United States, the actual Air Force One is one of two custom Boeing 747-200B series aircraft. Each plane has 4,000 square feet of floor space on three levels including a Presidential suite and quarters for the President’s senior advisors, Secret Service, and the press. Air Force One planes include secure communications systems, magnetic pulse-proof electronics, and the ability to refuel in-flight.
“We want total brand commitment.” Show the world your company is in it to win it! Splurging on an overhaul to make your jet’s interior, exterior, and hangar a flying reflection of your company will certainly make others stand up and take notice. Take Nike for example. Regardless of which Nike aircraft is in flight or on the ground, there’s no mistaking its owner. The company’s Gulfstream G550 is even painted to look like a sneaker, with the underside of the wings painted like the sole of the training shoes and the Nike ‘swoosh’ on the tail. And the customization doesn’t end there: The tail number (N1972N) contains the year that Nike was first incorporated. This jet, along with the company’s other branded aircraft, is housed in the customized Nike Air Hangar designed by TVA Architects, Inc.
When you’re ready to find the perfect jet to fit your message, talk with the expert jet brokers at L&L International. We’ll help you find a new jet or customize a pre-owned aircraft to fit your needs, your brand, and your message.
When most people think of flipping, houses come to mind. But lately the term has started to apply to aircraft. The demand for one aircraft in particular — the Gulfstream G650 — has caused a few sellers to part with this sought-after aircraft for profits between $5 and $10 million per flip.
The G650 is the must-have plane for billionaires, including Ralph Lauren and Oprah Winfrey, who have lined up to place their orders. Exactly why is this jet such a hot item? It’s Gulfstream’s flagship aircraft and it’s succeeded in creating a new category of ultra-long-range business jets. The G650 is capable of comfortably transporting up to 18 passengers, making it the king of the large cabin private jets with a range of well over 7,000 miles and a maximum speed of Mach 0.925.
It’s also very scarce — just around 30 jets have been delivered since its launch — despite the strong demand. In fact, current demand is so high that a buyer who hands over a $5+ million deposit and signs a contract today won’t see their G650 until the third quarter of 2017. Some people simply don’t want to wait this long, even if that means paying above market value for any G650 that comes up for sale.
One of the most recent examples of aircraft flipping was the sale of a 2013 Gulfstream G650 owned by Fabiana Flosi, the wife of Bernie Ecclestone, president and CEO of Formula One racing. She acquired the jet in July and sold it in September. The 2013 list price for a G650 is $64.5 million, but Ecclestone and Flosi paid less. They sold it to Vichai Srivaddhanaprabha, a Thai businessman and the owner of the UK’s Leicester City Football Club, for $72 million.
Although flipping aircraft was popular in the years leading up to the economic crash of 2008, it hasn’t been as common in recent years. Still, the recent Gulfstream sales have made some wonder if aircraft flipping is coming back in vogue. Most likely, the answer is no: G650s are rare, and Gulfstream has rules in place to discourage the practice. There are now anti-speculation clauses in its contracts that prevent placing orders for aircraft simply for the purpose of selling (or flipping) them. Gulfstream contracts state that if a customer who has ordered an aircraft attempts to sell it before delivery, the manufacturer has the right to withdraw warranties thereby reducing the aircraft’s value by millions. Of course, once an aircraft is delivered, the owner is welcome to do with it as they will.
Plus, the fact remains that the G650 is an incredible aircraft, and many who get their hands on one won’t be so quick to let it fly off into the sunset — no matter how much profit they stand to make!
