Research reveals significant drop in supply of pre-owned private jets for sale
New research from Colibri Aircraft, which specialises in the marketing, resale and purchase of pre-owned private aircraft, reveals the number of private jets for sale in May is around 14.5% lower than the same time last year, the lowest it has been since the Financial Crisis. This means potential buyers will find it harder to secure significant discounts on the prices of pre-owned jets.
The fall in supply is largely due to an increase in transactions. Colibri Aircraft’s research reveals that the number of private jets sold in April was 10% higher than the same month last year. For the period June 2017 to May 2018, 2,398 pre-owned private jets were sold globally, up from 2,027 for the previous 12-month period (a rise of 18%).
Colibri Aircraft’s research reveals that in May 2018, there are 2,083 pre-owned private jets for sale globally, compared to 2,438 in May 2017.
Oliver Stone, Managing Director, Colibri Aircraft said: “This fall in the supply of private jets for sale gives buyers and sellers more equal bargaining power. In previous years, the buyers had much more control over the market, and this contributed to sale prices of pre-owned jets falling by what we estimate at over 10-20% each year between 2014 and 2016. However, between 2017 and 2018 we are witnessing price falls levelling out.”
“However, sellers should not get too excited – price depreciation still occurs, and we have not really seen prices rise yet. As for buyers, they are likely to experience a much longer buying process – especially if they want to hold out for certain unique options installed,” concluded Stone.
|Global private jet market||June 2017 – May 2018||June 2016 – May 2017|
|New for sale||3198||3201|