“The next three weeks will really be busy,” says its CEO Brian Proctor
Mente Group’s business outlook regarding pre-owned business jet sales and purchases for the remainder of 2019 is active, according to a press release.
Mente Group is a leading broad-based consulting firm that specializes in used aircraft transactions.
“With more aircraft on the market recently, buyers and sellers are seeking to make deals before the end of the year to hedge against the economic, political and tax uncertainties that 2020 might bring,” says Mente group president and CEO Brian Proctor.
H adds, “We have seen some slight price declines recently that have offset higher prices on a slower volume earlier in the year, and the next three weeks will really be busy.”
A balanced market
Proctor says the pre-owned business jet market is balanced now, with an equal number of buyers and sellers seeking to make deals. “There are a lot of bizjet owners and buyers who are trying to take advantage of the minimum tax environment we are in right now,” he adds.
Depending on political events in an election year, the currently favorable tax climate could change in 2020, so both buyers and sellers have been trying to lock in certainty in the past few months, and the fourth quarter has been notably active, Proctor says.
Several international economies are teetering on recession. Coupled with an upcoming election and ongoing impeachment hearings, that has contributed to profit-taking in the stock markets, according to Proctor.
He believes the future business jet marketplace could shift to the advantage of buyers.
“With all of this going on as we wind up the year, the pre-owned aircraft market is trying to get ahead of potential changes. As a result, aircraft brokers and lenders have been busy lately,” Proctor added.
Mente currently has 12 business jets listed or sale.
In addition, it has several buyers looking for specific aircraft. “We anticipate a lot of activity next year, but there are buyers and sellers who are definitely trying to lock in the knowns versus the unknowns after the election,” he said.
Private Jets for Sale
In December, Mente Group is offering the following used private jets for sale:
- 2017 Global 6000
- 2016 Gulfstream G650
- 2016 Global 6000
- 2015 Gulfstream G550
- 2015 Gulfstream G280
- 2015 Challenger 605 (2)
- 2014 Challenger 350
- 2013 Gulfstream G280
- 2011 Challenger 300
- 2009 Falcon 2000LX
- 1991 Cessna Citation III
Mente Group has handled more than $10.5 billion in aircraft transactions, compiled more than 60 years of aviation experience, and executed more than 500 business jet deliveries.