The total amount of Gulfstream G-IVSP transactions doubled in the first three quarters of year, according to The Hagerty Group’s first Gulfstream market report.
The company says that there were 11 Gulfstream G-IVSP transactions in the first nine months of 2014, versus the 26 transactions during the same period in 2015.
According to Hagerty, Gulfstream IVSP sale prices have also fallen, with aircraft dropping almost 20% of their value. The company attributes this to falling Gulfstream V / G450 values.
“The (Gulfstream) IV-SP market is struggling between the older straight GIV’s which are selling consistently below $4M and the GV market which is now dipping below $10M. Late model IV-SP’s and G400’s are competing with the older G450’s in the low teens. HJG thinks the IV-SP market will see continued downward pressure on price for the near term with stabilization on the horizon” says the report.
Although the first issue of the reports only covers large cabin Gulfstream jets, the company is hoping to cover Gulfstream’s mid-cabin jets at a later date.