SIGNIFICANT INCREASE IN PRIVATE JET FIRST-TIME BUYERS

Prices of pre-owned private jets fall by around a third making them more affordable.

Colibri Aircraft, which specializes in the marketing, resale and purchase of pre-owned private aircraft, has reported it has seen a dramatic increase in the number of clients buying a private jet for the first-time.

Some 21% of the pre-owned aircraft it has sold in 2017 went to first-time buyers, around 50% higher than in 2016 (1). The average price of a jet it’s sold to a first time-buyer in 2017 was $3.68 million. (1)

The company puts the increase in first-time buyers of private jets down to two factors – a rise in the number of high net worth and ultra-high net worth individuals, and a fall in the price of pre-owned jets.

In Europe, the number of people worth $30 million or more is set to rise by 12% between 2016 and 2025. (2)

Analysis (2) by Colibri Aircraft reveals that on average the asking price of pre-owned private aircraft fell by around a third between 2014 and 2017 from around just over $13.5 million to just under $9 million.

Oliver Stone, Managing Director, Colibri Aircraft said: “2017 was a record year for us in terms of sales and a key factor behind this was the growing number of clients who are first-time buyers. We expect this trend to continue and within ten years’ time we would not be surprised if half our clients fall into this category.”