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
Worked example: Relating reaction stoichiometry and the ideal gas law | AP Chemistry | Khan Academy
So we’re told that silver oxide decomposes according to the following equation. For every two moles of silver oxide, it decomposes into four moles of silver and one mole of molecular oxygen. How many grams of silver oxide are required to produce 1.50 lit…
Inside a Civil War Most People Have Never Heard of | National Geographic
This family was luckier than most. After nine days as hostages, these men returned to their loved ones. It was an incredible moment to witness. So in a I too, kind of fear, anger, and hope is present every day in the Central African Republic. Since 2013,…
Kevin Hale - Startup Pricing 101
This was a highly requested talk from last year, or lots of people had questions about pricing or were really confused. It’s actually was well requested both at YC itself—that’s a very, very popular workshop that we run. We’re gonna go over a lot of basi…
The fastest private jet deal I have done
One of my most memorable quickest deals was actually getting a phone call from somebody saying he wanted to buy a certain airplane. I told him that the airplane was really just ready to be under the contract. He said he wanted to buy something immediately…
Hydrogen bonding | Intermolecular forces and properties | AP Chemistry | Khan Academy
Let’s talk about hydrogen bonds. Depicted here, I have three different types of molecules. On the left, I have ammonia; each ammonia molecule has one nitrogen bonded to three hydrogens. In the middle, I have something you’re probably very familiar with. I…
Moral Licensing
Moral psychology isn’t always an easy thing to study. First of all, just using a survey to ask people what they think is moral doesn’t always reveal what they would do in real life. An experiment that actually puts people in what feels like a real scenari…