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 Stanford Prison Experiment: Unlocking The Truth | Official Trailer | National Geographic
I’ve only been in jail once: the Stanford prison experiment. In the summer of 1971, Dr. Zimbardo took a bunch of college kids, randomly assigned them to be prisoners and guards, and locked them in the basement. The only thing we told the guards was, “Do w…
How Understanding the Typical Life Arc can Give you Perspective
Most people’s lives are, there’s a life arc, and most people’s lives transpire in like ways that you could see over and over again. You know, so I break it down. It seems to me like there are three big phases in life. The first phase is you’re dependent …
Connecting income to capital growth and potential inequality | Macroeconomics | Khan Academy
We’ve already talked quite a bit about the idea that if you look, you if you have a market capitalist economy that some, that this will lead hopefully to economic growth. Economic growth, but by definition, a market economy will have some folks who win mo…
Why I'm Finally Spending Money
What’s up you guys? It’s Graham here. So, a little over a year ago, I made a video breaking down exactly how much money I spend every month, where it all goes, and my philosophy is when it comes to saving money, investing, and trying to get the best value…
Elon Musk & The Midwit Meme – Dalton Caldwell and Michael Seibel
This is the the beauty of the midwife meme: the genius and the idiot come to the same conclusion. So what is the idiot approach? Like, that’s actually how you can divine the genius approach. You’re like, “What would an idiot do?” Everyone can reach for th…
Kat Mañalac - How to Launch (Again and Again)
I’m Timmy Alikum and partner at Y Combinator, and one of the things I helped founders do a lot is prepare to launch. That is what I’m gonna talk to you about today. So I want to change the way you think about launching. Most people think about launching …