Imagine you’re visiting a foreign locale where the culture and currency are very different from your native country. You hire a local guide for the day and ask him to help you navigate a large open-air market. As you wind through the crowd, merchants call out to you in an unfamiliar language, urging you to buy. Your head spins in confusion as your stomach churns with hunger.
A nearby stall is displaying an assortment of unfamiliar edibles which look fresh enough. Your guide, however, shakes his head and leads you to another vendor. After some haggling, you’re feasting on a special local delicacy of the freshest quality at a surprisingly reasonable price.
The critical role of the broker
This scenario is not very different from the challenges of purchasing a private aircraft. Yes, you can explore the market on your own, but a local guide — in this case, your broker — can help you avoid the traps and pitfalls you might never see coming.
Aoife O’Sullivan, partner at London-based Gates and Partners and author of the industry white paper The Gold Standard in Private and Corporate Jet Sales, cautions that “buying a business or private jet for the uninitiated (and, indeed, even for those familiar with the industry) is a complicated, expensive and potentially hazardous jaunt into the unknown.”
Don’t be fooled by that new-plane smell
Most private jet purchasers are surprised at how complicated the buying process can be, even for a new plane available directly from the manufacturer. Says O’Sullivan, “Manufacturers can have a soft side, and the good brokers know how to negotiate a better deal for buyers whether in the form of price, elevated delivery date, and additional perks for credits such as additional training or increased warranty periods.”
In other words, a trusted broker knows the manufacturer’s pressure points and how to leverage them to maximize every dollar spent on a new aircraft.
The pre-owned advantage
In the pre-owned market, an experienced, professional broker has the inside track on available inventory and pricing fluctuations. Plus, your broker is familiar with lesser-known sources of quality aircraft — often tapping into those channels before the product becomes widely available for sale on the Internet or through other public means.
O’Sullivan adds that “the broker who has a long-term relationship with the buyer or seller will also have an in-depth knowledge of the history of the aircraft and can be a valuable source of information when researching title, whether there has been any damage to the aircraft, etc.”
Very few decisions are as significant and weighty as choosing a private aircraft, but it doesn’t have to be daunting, frustrating or risky. Partner with the right broker and along with the thrill of owning a private aircraft, you’ll uncover the best value for every dollar you spend.
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.