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Duncan Aviation Aircraft Sales Team Talks Preowned Inventory Shortage

The market for preowned aircraft has changed dramatically over the past 12 months. Duncan Aviation Aircraft Sales andamp; Acquisitions Consultant Tim Barber said that in the summer of 2020, the market was steady, if not slow."The fourth quarter was like a switch has been flicked and every buyer wanted their aircraft yesterday," said Barber. "This heightened level of activity has continued throughout 2021 and today. Every other email I receive is from a motivated buyer rather than a motivated seller."Aircraft Sales andamp; Acquisitions Director Steve Gade said that they have experienced a second wave of buyers that are upgrading and/or becoming first-time buyers due to the newest wave of the COVID-19 virus. "The apparent reality is that safety and convenience of business aviation will continue to be a challenge for the airlines," he said.The increased activity in the business jet market is further proven by the increase in demand and competitive schedule for prepurchase evaluations.According to Ryan Huss, VP of Sales, Duncan Aviation is projected to complete 38% more pre-purchase evaluations in 2021 than the company did in 2020. He states that pre-buy slots are backlogged on average 3-6 weeks with larger aircraft taking even longer to schedule. This demand for preowned aircraft has led to price escalation of the most in-demand aircraft, such as the Challenger 605 and Phenom 300."Older aircraft are less likely to see the same value inflation," explained Barber. "Having said that, there are a huge number of Hawker 800XP buyers. If there haven't been any price increases, then you can be sure that there hasn't been any downward movement either."As Leah Lenardic, another member of the Aircraft Sales andamp; Acquisitions team, points out, "Available preowned business jet inventory has continued to decline month-over-month for over a year now. There are still suitable aircraft available, though it may take longer to find them, and buyers should be prepared with their team to act immediately.""Partnering with experts will help you ask the right questions in order to dial in and target aircraft make/model, age, hours, maintenance status, history, and other key attributes," said Gade. "In this market, preparation and patience are rewarded."Sales Rep for Duncan Aviation, Doug Roth, said that when you are ready to upgrade, take time to research the market and know what to pay for an aircraft when the opportunity comes up. "Once that opportunity surfaces, move quickly," he added.
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