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 5 WORST Investing Mistakes for 2023 (Investing for Beginners)
This video is sponsored by Morning Brew. Sign up to their free daily newsletter using the link in the description. Okay, so 2023 is your year. You’re finally getting serious about your investing, and you’re going to take the time to knuckle down and set …
4 Revolutionary Riddles
At the Palace of Discovery in Paris, they have this huge turntable where you can sit and perform experiments. Like, in the middle of the turntable you can put some water and then add liquid nitrogen, and this creates a kind of fog. These tiny water drople…
I read 100 Philosophical Books. Here's the best one.
I remember feeling completely aimless in high school. None of my classes felt particularly meaningful to me. I would sit in class, stare straight ahead, and my mind would often just wander. At home, I would try to avoid thinking too much by playing video …
Transforming exponential graphs | Mathematics III | High School Math | Khan Academy
We’re told the graph of y = 2^x is shown below. All right, which of the following is the graph of y = 2^(-x) - 5? So there’s two changes here: instead of 2^x, we have 2^(-x) and then we’re not leaving that alone; we then subtract five. So let’s take them…
It's better to be alone than wish you were
In my experience, people often see loners as outliers—people who, for some reason, don’t mesh well with the rest. They’re often seen as having traits or qualities that somehow don’t align with the group’s norms. There are indeed cases in which this is tru…
Artificial Intelligence: Mankind's Last Invention
It could be terrible and it could be great. It’s not clear. Right? But one thing is for sure, we will not control it. Go is arguably the most complex board game in existence. Its goal is simple: surround more territory than your opponent. This game has b…