2010 brought welcome good news — Pre-owned Full Sale Business Jet Transactions for the year improved by 16% compared to 2009, and exceeded the 2008 transaction level by 4.8%.
In 2010, Pre-owned Business Jet Sales improved YOY compared to 2009 and 2008.
Business Jet Inventory For Sale percentage shows the largest change, down 1.5 points, from 16.3% to 14.8%. Business Jets also lead in change in Sale Transactions with the largest percentage gain, 16%, compared to 2009. All business and helicopter aircraft categories took longer to sell in 2010, ranging from 31 to 72 more days in the year-over-year (YOY) comparisons.
All pre-owned aircraft categories show a decrease in the average asking price, ranging from a low of -1.5% for piston helicopters to -18.5% for business jets.
The build-up in Business Jet For Sale inventory increased for 21 months, from 10.7% in October 2007 to 17.7% in August 2009. The percentage of jets for sale then slowly dropped to 14.8% in December 2010. So we still remain in a buyer’s market, with business jets showing percentages greater than 10% for sale. A seller’s market is when 10% or less of the pre-owned business jets are for sale.
Business Turboprop Aircraft
The percentage of pre-owned business turboprop aircraft for sale was 10.5% in December 2010, and has declined from the peak of 12.0% set in both May and June 2009. The number of business turboprops for sale at the end of June 2010 was slightly less than 1,400 aircraft, nearly half the number of business jets currently for sale.
The number of pre-owned full sale transactions for business turboprop aircraft increased by 4.4% in 2010 compared to the same period in 2009. However, the average days on the market before business turboprop aircraft sold was 298 days for 2010, an increase of 11.6%, or 31 more days compared to the same period in 2009. Additionally, the average asking price decreased by 2.5% in 2010 compared to the same period in 2009.