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
Saving and investing | Investments and retirement | Financial Literacy | Khan Academy
Let’s talk a little bit about saving and investing. One thing that you’ll hear me talk a lot about is how important it is to save. One, it’s a sign that you’re living sustainably; that you’re spending less money than you’re bringing in. It also allows yo…
World War I: Homefront | Period 7: 1890-1945 | AP US History | Khan Academy
In 1917, the United States entered World War One on the side of the Allies. After several years of neutrality, Woodrow Wilson, who was serving as president of the United States at the time, even campaigned for re-election on the slogan “He kept us out of …
Visually dividing a whole number by a decimal
In this video, we’re going to see if we can compute what 3 divided by 0.75 is equal to. And I’ll give you a little bit of a hint before I tell you to pause the video. So let’s imagine three holes right over here. What if we were to think of these three w…
Watch Expert Reveals: The Secret Market of Million-Dollar Timepieces (Pt.1)
There’s only one word for what happened: Game Changer. It’s going to affect every aspect of the watch world, every attribute. The one thing I know with certainty is, Sonia and John, nothing happens overnight in the watch industry. This is the slowest movi…
The Dark Reality Behind India’s Festival Elephants | Podcast | Overheard at National Geographic
Foreign [Music] This is the sound of a festival in India called Trisha Pura. Thousands of people attend this annual festival, including dozens of musicians. But the highlight of the celebration, standing out over the crowds, are the elephants. They’re cov…
This world is a mess… and Nietzsche saw it coming.
The infamous philosopher Friedrich Nietzsche famously proclaimed, “God is dead. God remains dead. And we have killed him,” a statement that would become one of his most memorable quotes. These words point to the religious decline that existed during Nietz…