The G550 market has seen a tremendous shift within the past six months. In May there were only six G550’s for sale and two of those were already under contract by mid May effectively meaning that only four G550’s remained available at months end. Fast forward, and we now have twenty-nine G550’s for sale with seven of those under contract for a total of twenty-two for sale. This is a 450% increase in inventory.
With regard to pricing the average ask price in May stood at $28,750,000 while the average ask price is now at $25,500,000 showing an 11% decrease in the average ask price. The average sale price shows an even larger drop of 13.5% in November.
While the number of sales per month is relatively stable (2 per month in May and 1 per month in November), the high was reached in August of 8 sales per month with a steady decline each month since that time. Year to date up to and including May no price reductions had taken place.
As we close out November a total of nine price reductions has taken place with two aircraft having reduced prices twice in the past 90 days.
For more information please contact us at sales@avjetgs.com.
