A record number of pre-owned business jets changed hands worldwide last year, with 2,240 retail sales transactions logged, up from the previous peak of 2,181 in 2007, according to data released yesterday by business aircraft research firm JetNet. This high point follows three years of gains from the low of 1,539 transactions in 2009, the company added.
Though overall pre-owned business jet inventory decreased by 0.4 percentage points to 13.4 percent last year, JetNet said it is still a buyer’s market since inventory remains above 10 percent. Moreover, it said, “The percentage of jets for sale has declined more as a result of growth of the in-operation fleet numbers, increasing from 17,118 in 2009 to 18,897 in 2012,” rather than from a reduction in the actual number of jets for sale. Average asking prices for business jets fell 0.3 percent last year, to $4.56 million, but the average time on the market deflated by 10 days, to 370.
Meanwhile, pre-owned turboprop inventory continued to shrink, declining 1.3 percentage points to 8.3 percent last year, said JetNet. Despite this encouraging news, sales transactions declined by 5.7 percent and average time on the market increased by 10 days, to 344. Average asking prices, though, rose 2.6 percent to $1.343 million.