October 17, 2025
Bonus depreciation and lower interest rates are spurring optimism in the used private jet market as big fleet operators join the buyer side.
The 100% bonus depreciation included in the Big Beautiful Tax bill is spurring a significant increase in optimism for used private jet sales.
The rosy outlook from members of the International Aircraft Dealers & Brokers Association, which goes by IADA, comes despite a year-over-year drop in Q3 sales.
Q3 2025 closed deals finished at 357 transactions.
That was a drop from 377 in Q3 of 2024.
Still, the 2025 totals were above the 324 closed deals in 2023 and 331 in 2022.
Sequentially closed deals increased from 350 in Q3 from Q2 of 2025.
Year-to-date 2025 closed deals are down 2.4% from last year.
The IADA dealers closed 973 deals through the first three quarters of 2025.
Looking ahead, market optimism among IADA members rose markedly to 3.47 in the third quarter of 2025.
That was up from 3.07 in the second quarter of 2025 and 3.12 in Q3 last year.
On IADA’s 1-to-5 scale, where 1 represents “worst ever” and five means “best.”
The group of sellers said, “This sharp increase reflects the influence of 100% bonus depreciation, which was cited by a wide majority of respondents as a key contributor to improved sentiment in sales, financing, and leasing activity.”
Executive Director Lou Seno said, “Looking forward, IADA members project a strong market performance for the fourth quarter of 2025 and over the next six months.”
The average days on the market stood at 168.
IADA said that it was 20% faster than the industry average.
Year over year, the number of deals that fell apart dropped from 77 to 50.
The number of for-sale private jets with lowered asking prices plummeted YOY from 174 to 39.
Skyservice Business Aviation’s Geoffrey Carlyle reflected the overall mood.
He said, “100% Bonus depreciation will drive a ton of activity between now and the end of 2025.”
Oshman Aviation’s Scott Oshman gave a more measured view.
He said, “Market conditions remain uneven, with demand staying strong across select segments.”
“We continue to see robust interest in mid, super mid and large cabin aircraft, and while it is the bulk of our business, there appears to be more demand in those asset classes than supply, and with OEM’s sticking to their current production schedules and delivery times that are 12–24 months out, we expect to see bonus depreciation and desire to get into assets sooner drive the pre-owned market up in those cabin classes,” per American Equipment Finance’s Mark Bearden.
Interest rates are playing a role.
Chris Haupt of Aviation Sales Associates said, “The market is moving. Many buyers are choosing to stay away from borrowing money. Hopefully, interest rates will drop for buyers to borrow again.”
Tariffs also remain a lingering issue.
Swartz Aviation’s John Swartz said, “Once the tariffs are resolved and defined, I think the markets will become very active, especially now that 100% depreciation is back on the table.”
Insurance costs also play a role.
LL Johns Aviation Insurance’s Steve Johns added, “The Insurance market has softened, becoming more of a buyer’s market throughout 2025. Although rate reductions do not appear sustainable over the long term, it appears the market will remain soft, or stable at worst, through 2026.”
Individual buyers won’t be alone in scanning the pre-owned private jet market.
FlyExclusive and Wheels Up are building their super midsize fleets with used Challenger 300s and Challenger 350s.
Wheels Up is also on the hunt for pre-owned Phenom 300s.
Even Flexjet is in the market for pre-owned private jets.
Flexjet Chairman Kenn Ricci recently told Private Jet Card Comparisons that he may look to the used market to add Gulfstream G650 and G700 aircraft.
“We can do it by buying two at a time,” he said.
Most recently, Jet Excellence bought the entire Vista fleet of pre-owned Citation Xs.
However, most of the action from fleet operators appears to be in the new vintage pre-owned segment.
FlyExclusive Chairman Jim Segrave says the target is aircraft with 1,000 to 1,500 hours, for which “somebody took the initial depreciation.”
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