Business Jet Arena: Buyer or Sellers Market?
Whether you’re a prospective buyer or seller, you’re probably feeling confused about the used business aircraft market over the past two years. There has been a flood of information lately, due to an array of value reports and forcasts, often providing conflicting data. Add in more detailed analysis from traditional market data providers and the gap gray area of information becomes large enough to fly a fleet of used Challenger 600’s through.
But as the 10th anniversary of the aircraft market meltdown (2008) fast approaches, the pre-owned business jet arena dutifully continued its search for stability and positive indicators, while observing falling values with stubborn optimism. Aircraft value tracker Vref put it perfectly in their 3rd quarter newsletter: “Although this segment continues to trend down,” it said of values for pre-owned business jets, “the decline is much less than in the recent past. We are viewing this as a positive change.”
So, what does the real state of the business aviation market look like? There is no doubt that value has declined over the past ten years, but as Verf mentioned in the above quote… it has stopped declining so rapidly and seems to be reaching a comfortable middle-ground. Though asking prices for cabin class aircraft are starting to imitate those of luxury cars (1.8 million being the lowest asking price noted), transaction volume has steadily increased. According to market data, there has been a hefty 5.5% increase in pre-owned jet sales since 2016, and the numbers keep crawling up every quarter. And if prices keep dropping, buyers will keep coming.
The bottom line is that the business aviation industry seems to be slowly recovering from the meltdown of 2008, but the market remains a buyers market and late-model aircraft are usually the first to be scooped up. But at Miami Jet, we want to help both buyers AND sellers. If you’re looking for the perfect jet for your business or leisure needs: browse our unmatched inventory or high-end models. And if you’re looking to sell your aircraft: we’ll help you every step of the way – from appraisal, to closing the deal Miami Jet provides perseverance, pride and professionalism.