Strong Numbers for Preowned Business Jets

Everybody’s talking about the record-breaking year for preowned business jets. They should; JetNet released compelling numbers:

  • 2,240 preowned business jets sold in 2012 (new record!)
  • Full sale transactions of used business jets were up 7.2%
  • Average Days on Market decreased by 10 for business jets
  • Percentage of fleet for sale decreased to 13.4%

What does this mean for buyers?

Because the for-sale inventory is higher than 10%, it’s still considered a buyer’s market. So if you’re interested in acquiring a preowned jet, now is the time. The improvement in the private jet market is expected to increase, so we will likely see a continuing decrease in the number of preowned jets for sale. That means now is the time to buy.

What does this mean for sellers?

Fewer days on the market and the record number of transactions are good news for sellers! Things are loosening up, and some of the more risk-averse buyers and financers are gaining confidence in the economy again.

Also, depending on your aircraft, you may have a hot commodity! Business Jet Traveler’s annual report shows the top jets for sale in the preowned market. For example, the Gulfstream G200 averages only 259 days on the market, well below the industry-wide average of 370. Aircraft built after 1999 are the most sought after, and only 7% are for sale, creating a pretty tight market.

These numbers released last week are an encouraging step toward a once-again thriving business jet market. It looks like 2013 is the time to get in on the action!

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