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
The Isolation of Addiction | Breakthrough
The similarities with all kinds of addiction is you get that first good feeling from using something, and your brain just remembers the good part. Whether there’s a negative—I, oh, I didn’t have any money after that, I didn’t, I mis-rent or whatever—your …
Creating scale drawings | Geometry | 7th grade | Khan Academy
Sue is a software engineer. She wants to create a large-scale drawing of a processor inside a cell phone. The processor is a square chip, nine millimeters on each side. Draw the processor such that one unit on the grid below represents one half of a milli…
Introduction to labor markets | Microeconomics | Khan Academy
We’ve spent a lot of time already thinking about markets for the goods and services that firms produce. Now we’re going to talk about the markets for the factors of production, often known as the factor markets. What are those factors of production? Well,…
Is Time Travel Possible?: Mind Blow (Special Edition)
John tier claims to be a time traveler from the year 2036, and his time machine kind of looks like a certain DeLorean whose parts you can actually buy. Vauce Kevin here; this is Mind Blow: Time Travel Edition. This is a real time machine, sort of. Dr. Ron…
The Strange Tail of Spinosaurus | Podcast | Overheard at National Geographic
So, things to watch out for when we’re actually out in the field. And this is really serious. It kind of feels really surreal, and you think like, you know, this is like in a movie or something. But the problem is, in the movie, it’s stuntmen and fake sna…
How to study efficiently using Notion [Active Recall]
Hi guys, it’s me Dodie! Today, I’m going to be showing you guys how I take study notes using one of my favorite apps, Notion. I’m so, so glad that this video is sponsored by Notion because I’ve been using Notion for a couple of months. If you go to my old…