The Jet Business sells a G650 for more than $70 million

Alasdair Whyte
By Autodesk Revit LT 2018 software Alasdair Whyte November 22, 2013 16:55

The Jet Business sells a G650 for more than $70 million

The Jet Business has sold a Gulfstream G650 for $70 million to a Japanese investment company.
The Jet Business sells a G650.

The buyer of the G650, brokered by The Jet Business, made $10 million.

The Jet Business, a private jet showroom in London, has successfully managed to close the sale of the second Gulfstream G650 to trade.

The business jet (serial number 6035) was sold by a private individual to a Japanese property investment group.

Anti-speculation clauses prevent G650 owners from marketing their aircraft until they have been delivered, but in this instance, the seller accepted delivery of the aircraft on 18 July 2013. This is, in fact, the second pre-owned G65 to have been sold by an aircraft broker, after Freestream Aircraft sold a G650 belonging to Fabiana Flosi, wife of Bernie Eclestone.

Both G650s are believed to have traded for more than $70 million. This is significantly above the aircraft’s 2008 list price of $59 million, earning the owners a profit of around $10 million.

Aircraft brokers say that although there is a lot of interest in delivered G650s, many buyers are not prepared to pay more than $70 million for a G650.

The current list price for a Gulfstream G650 is $64.5 million with the next available slots for delivery in 2017. This means that with escalation (which is calculated from various price indices), the actual cost of an aircraft that is delivered in 2017 is likely to be more than $70 million.

The Jet Business was launched in 2010, by experienced aircraft broker Steve Varsano, as the first city showroom for business jets. It focuses on larger top end business jets, advising both buyers and sellers.

JETNET, an aviation data company, estimates that it takes on average 401 days to sell a business jet.

Alasdair Whyte
By Alasdair Whyte November 22, 2013 16:55

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