Market for Used Jets Booming Despite Economic Downturn

The waiting list for buying Gulfstream's new jet model is 10+ years and growing, despite the shaky economy. What's a jet-starved consumer to do? Buy a used one, for a lot more than what a new one costs.

A brand new Gulfstream G450 sells for about $40 million, but a used one can now fetch $4 million to $5 million more than that.

Why? Because the waiting list for buying a new jet is so long that the impatient buyer will pay more to have the jet in their hands ASAP. That’s also led to a new trade in jet flipping, where people sell their waiting “slots” for new planes for big profits.

Source: Wall Street Journal Wealth Report, May 2008