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
Watch Koko the Gorilla Use Sign Language in This 1981 Film | National Geographic
[Music] Near San Francisco, California, a fascinating and now controversial experiment has been underway since 1972. Research psychologist Penny Patterson is teaching lowland gorillas Koko the American Sign Language of the deaf. Dr. Patterson claims Koko …
Philip of Macedon unifies Greece | World History | Khan Academy
The 5th century in Greece started off with the Persian invasion and ended with the Peloponnesian War. Now we’re entering into the 4th century in Greece. As we entered the 4th century, Thebes is the dominant city-state. However, as we get into the mid-4th …
How Much Equity to Give Your Cofounder - Michael Seibel
How much equity to give your co-founders? This is a problem and a question that a lot of people have written about, and you can see a lot of varied advice online. My perspective is that most founders are missing a couple key points when divvying up their …
Mentally WEAK People Share These 15 Signs
Do you have mentally weak friends? What if you’re a mentally weak friend? Well, let’s find out, shall we? Here are 15 signs. Your mentally weak first step. You internalize any negative statements other people make. They define who you are and how you fee…
27 Years Old: Should I buy a House or a Lamborghini?
What’s up you guys, it’s Graham here. So this is one of these things that, you know, I was pretty well set on getting a Lamborghini until I got the money to get the Lamborghini, and now I’m just like, it’s not the smartest thing to do. Are you sure about …
Car buying pitfalls | Car buying | Financial Literacy | Khan Academy
What we’re going to do in this video is think about some things that you should think about when you are buying a car. To help us with that, we have this fake invoice from a car dealership for a car I guess that I am buying. This looks like a used Honda O…