One of the first questions that comes to mind when it’s time to buy or sell a jet is, “How long will this take?” Of course there’s no exact answer to that question — everyone’s situation is different. There’s the market to consider, as well as the condition of the plane you’re selling and the demands for the jet you’re interested in purchasing. However, there are several scenarios that can cause jet transactions to go much more slowly than expected.
- Incorrect pricing. Whether you’re a buyer or a seller, a jet’s price tag has a huge impact on the transaction. If you’re selling a jet and it’s priced too far above market value, it may not garner any interest. And as a buyer, you want to watch out for deals that are too good to be true — unusually low prices are often signs of bigger issues you may uncover during your inspection.
- You have, or are looking for, something specific. Of course you want a business jet that meets all of your needs — capacity, efficiency, cost. But if you’re interested in a new, hard-to-find, or popular model, obtaining the ideal aircraft could take months (or years!). Similarly, if you’re selling a jet that has been highly customized to your tastes, it may take a while to find an interested buyer.
- You can’t find the right buyer or bizjet. People aren’t exactly searching the classifieds for business jets. Buyers and sellers aren’t always public — and the bizjet market spans the globe. If you don’t have the right network, you can expect to spend a lot of hours searching for the right fit.
- You have to sell before you can buy. If your new jet purchase is contingent upon the sale of your current jet, then you may find yourself in a bind. Trying to find the ideal buyer and your ideal upgrade in the same timeframe can be like waiting for the stars to align.
If you’re interested in a smooth, quick aircraft transaction, then the smartest option is contacting a jet broker. Brokers have established relationships with buyers and sellers around the globe — and even have access to off-market and unadvertised inventory. Plus, they take the frustration out of the process: A skilled broker will efficiently identify what you’re looking for, handle negotiations, and manage closing. They’ll even juggle the sale of an old aircraft with the purchase of a new one.
You’re busy. Waiting around to buy or sell a jet may keep you grounded longer than you can afford. Let the brokers at L & L International ensure the plane you’re buying or selling spends as little time on the market as possible!