A new research from Colibri Aircraft, which specializes in the marketing, resale and purchase of pre-owned private aircraft, reveals that across six different types of private jet, the average asking price decreased by around 35% between April 2014 and April 2017, when it fell from around $13.7 million to $8.9 million. Between April 2016 and April 2017, the average asking price fell by $1.97 million.
They are also taking longer to sell with the average number of days on the market before selling increasing from 345 days in April 2014 to 391 days in 2017.
|Date||Average asking price across six private jet types||Average number of days on the market before selling|
|Average across these four dates||$11,280,944||366|
Colibri Aircraft’s research reveals that larger business jets have seen the biggest fall in asking prices and are generally taking longer to sell. For example, between April 2014 and April 2017, the Bombardier Global XRS which cost over $50 million new, saw the average asking price for a preowned fall from $31.3 million to $20.36 million – a fall of 34.9%.
However, the corresponding figures for a smaller Citation Mustang, which cost over $3 million new, are $2.15 million and $1.93 million, which is a difference of 10.2%.
Oliver Stone, Managing Director, Colibri Aircraft said: “Given the backdrop of these continued falling prices, the importance of marketing pre-owned private aircraft properly has never been greater, and this is contributing to our growing success. The number of transactions we completed in 2016 was double what we did in 2015, and we are on track to enjoying similar growth this year.”