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
Ben Silbermann at Startup School 2012
Well, first thanks a lot for having me. Um, it’s really exciting for me to be here in front of like so many people that all want to build cool things. I was getting ready for the talk last night, and I was going back through old emails because sometimes …
Meet an Imagineer Who Built a Wish | Podcast | Overheard at National Geographic
[Music] Welcome to My Garage. This is my brain; this is where I have to make the magic happen. Laura Cable is a Disney Imagineer for the last five years, many of them surrounded by blueprints and scale models from her garage here in Los Angeles. Thanks to…
Mr. Freeman, part 48
What are you looking at? You think I don’t know who you are and why did you come to our disco? Or you have something that is unknown to us? Of this yelling to make everybody free begins to spin our guts. Why you came to bothering us again? Eh? Before you…
Conclusion for a two-sample t test using a P-value | AP Statistics | Khan Academy
A sociologist studying fertility in France and Switzerland wanted to test if there was a difference in the average number of babies women in each country have. The sociologists obtained a random sample of women from each country. Here are the results of t…
Kevin O'Leary - Music, Style, Money - Harry Rosen
Hi, I’m Kevin O’Leary from Dragon’s Den and Shark Tank, and I’m wearing a crisp Tom Ford from Harry Rosen. Oh yeah, baby! Business is so disciplined and scientific; it’s black and white. Either you make money or you lose it. Music is chaos. You need both …
Introduction to Middle school Earth and space science | Khan Academy
Hi everyone. Sal Khan here and I’m with Iman Howard, who is our manager for all of our STEM content on Khan Academy. And we wanted to welcome you to the Middle School Earth and Space Sciences course. Iman, why should folks be excited about this? So Middl…