yego.me
💡 Stop wasting time. Read Youtube instead of watch. Download Chrome Extension

Why do billionaires buy used private jets?


less than 1m read
·Nov 3, 2024

Processing might take a few minutes. Refresh later.

Really super rich, why would you buy a pre-owned aircraft? You could say the same thing about somebody who's not so rich but fairly well-to-do, and they buy a used car. Sometimes you want immediate satisfaction, and if you want immediate satisfaction, you can't buy a new aircraft because it could take one to two and a half years to actually order an airplane and get it manufactured and delivered the way you wanted it custom made.

But the other thing is, like a car, an airplane isn't normally a depreciating asset. Once you buy it and take it off of the showroom floor, if you want to call it that, the price will depreciate. Of course, in the past year because of COVID and because of a lack of supply, prices actually went up instead of going down, which is a real anomaly. In the history of aircraft, that's never happened, which is about 60 years. But this is the first time it did.

Now the market is leveling off. If you could buy an aircraft for a significant discount if it's two, three, four, five, ten, fifteen years old, it does exactly the same thing as a new one. Maybe you might have newer avionics, which are the radios in the cockpit, or it might have a different altitude or something like that. But if you could buy some half price off of a new one, that makes a very convincing sales story.

More Articles

View All
Rainforests 101 | National Geographic
(Birds chirping) - [Narrator] Shrouded in a blanket of clouds, they awaken. Their canopies of green glitter in the sun. Their wildlife start to slither. (Snake hissing) - Chirp. (Birds chirping) - And growl. (Growling) - And one of the planet’s richest ec…
What Does Earth Look Like?
Hey, Vsauce. Michael here. This point of light in the sky is Earth as seen from the surface of Mars. And this is Earth as seen from Saturn. Here’s an image taken only 45,000 kilometres away, the famous Blue Marble. But what does Earth really look like? We…
TIL: We Have Lost 50% of Wildlife Since 1970 | Today I Learned
So one thing that really surprised me was from 1970 to 2010. You know, in 40 years, we’ve lost over half our wildlife population. In 2014, there was this study that was done, and basically what they do is look at elephants and tigers and fish and all the…
What Makes The Top 10% Of Founders Different? - Michael Seibel
One of the questions I get often during the batch of YC is what separates out a top 10% founder versus everyone else. When I started at YC, I didn’t really have enough context to know as a founder. My own company, of course, had my own friends, but that w…
15 Life-Changing Lessons We Learned in 2023
A man who does not reflect on the year that’s passed is destined to repeat it. With this year coming to a close, we make a priority of externalizing the most valuable insights we’ve drawn, and we’re about to share them with you. Here are 15 valuable lesso…
The Launch of ExoMars | MARS
I’ve been thinking about exom for more than 16 years. So, that’s it over there, right? Serious, guys. What we’re doing is really rather difficult. A lot of things have to go right. One minute, one minute, one minute. Building the instruments is hard, and…