I typically hate buying used stuff. A used car? No thanks. There's something about getting into your brand new luxury car, turning over the engine for the first time, and driving it off the lot for its maiden voyage. A used Rolex? Maybe. Used clothes. Hell no. However, if the G Luxe crew gets a few more liquidity events, we'll be more than happy to consider buying a used plane (Air G...has a nice ring to it).
Even with the global financial markets in utter chaos, the demand for private planes have been fairly resilient with buyers especially in the Middle East and Asia eagerly snapping up Cessnas and Gulfstreams. The market for used planes have also seen a surge in activity with buyers attracted to the millions of dollars they can save by purchasing a second-hand plane. And while there is something poser-ish about buying a used BMW or Porsche, you probably won't be accused of being a frugal bastard if you decided to spend $9 million on a used Citation Excel ($14 million brand new).
Read more about the active used jet market at portfolio.com.
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