It's probably time for an update.

The seller's market continues, one of my favorite airplanes / markets is the Citation Mustang. (It seems that there's always a buyer and we always find a good airplane) What has happened in the Mustang market is crazy, prices have increased $200k plus! I'm seeing non-program airplanes and damage history airplanes selling for more than pristine airplanes sold for last year. We closed one Friday and I'm still scratching my head at how we pulled it off.

The market for anything popular is just crazy, we have a client that hired us in November to buy a Blackhawk C90B or a GT... we just found him one yesterday. We've never worked so hard, for so long to find such a common airplane.

The King Air markets are all red hot. The 525 and 560 Citation markets are unreal, finding anything worth buying is extremely difficult.

Traditionally about 50% of the airplanes we buy are listed on Controller, so far this year... we've only bought one airplane that was listed on Controller and it had been on there for three years.

It seems the only way to buy in this market is direct with the owner, especially if he doesn't want to put the airplane on Controller. This is especially true in the Mustang market, if you're a Mustang buyer, call us. (hint hint)

Thanks for the update Chip. I am looking to move up into something turbine - really just need a lav but Mike C and Tarver have convinced me to go turbine. I am still doing research on the best aircraft for me but I am currently leaning towards a 501SP.

I am one of those buyers that is driving up prices. COVID has pushed our desire to avoid commercial flight to the point that I dusted off pilot's license, got my Instrument, and getting my multi in June. I think a lot of people and companies have had similar thoughts of avoiding commercial travel over the past year. Same sentiments for boats, RVs, etc.

Having never owned before, I have only been paying attention to aircraft prices for the last few months. For now I am keeping my eyes and ears open and just trying to learn as much as I can. As a potential buyer I certainly want prices to come down. But that would most likely mean the stock market has tanked and that is my main source of acquisition funds. So maybe it's a wash?

If it is not selling then by definition it isn't "priced right". A thing is only worth what someone will pay for it right now.

Legacy citations have upticked 30% and they are impossible to find right now (good ones)

Chip, my position is that the Mustang has been under valued for the last couple years, and that current prices are where they should have been. In comparison to what you get for the same dollars in a TBM or P46T, its hard to say the Mustang is not a good buy even at today's levels.

If you think planes have been selling you should check into homes.

Our middle daughter is looking and it's nuts. One house she bid on had 17 offers.

She looked at a house earlier this week. Four years ago it was purchased for $141k, now on the market for $200k and most likely the offers went up quite a bit more.

She's seriously thinking of bowing out of the house hunting for a while to let the market calm down.

Last week I saw a house for sale in my neighborhood. The sign out front said "72 Hour Auction" in a design that made me think that Crazy Eddie was the realtor.

I miss Crazy Eddie. Is he still around?

His prices were INSANE!

Crazy Eddie was crazy like a fox. He was the first retailer to sell stuff below manufacturers retail price. He was sued by the manufacturers and won in court which is why we have real competition in retail today. He trick was to only sell to union members not the general public. Of course back then everyone belonged to a union or had a friend or relative who did. (Remember the commercial - Show your union card and your in) Unfortunately for Eddie the ensuing competition put him out of business and he was involved in some fraudulent activity trying to keep solvent and went to jail. He died several years ago.

You're conflating two different "characters."

Here's the "union card" guy-

[youtube]https://youtu.be/TmZ7EyYWAZg[/youtube]


Here's the "Crazy Eddie" spokesman (a popular NYC radio DJ at the time)-

[youtube]https://youtu.be/zQ7GE3jsTak[/youtube]

Chip, my position is that the Mustang has been under valued for the last couple years, and that current prices are where they should have been. In comparison to what you get for the same dollars in a TBM or P46T, its hard to say the Mustang is not a good buy even at today's levels.

More disposable wealth from the stock market and fear of commercial flying/less commercial flights available in the Covid age may be driving up demand for planes.

Just read about a right-wing pundit who claims he was put on the TSA No-Fly List due to his views. He and others in his situation might be looking for a jet.

As soon as this COVID crisis is over there will be more first class seats available to anywhere.

When that happens a lot of new jet and TP owners will be selling their planes because they have been educated on the REAL COST of a Jet vs first class.

Agree. Pure guess, pure speculation... but would bet that there is pressure on market right now due to both and increase in demand, as folks look for alternatives to commercial carriers. Also, supply (new plane manufacture) was constrained last year. Would agree and guess that some new comers to GA will bail in 18-24 mos as the true total cost of ownership, in both time and cash sinks in.

Will be interesting to see.

I hope that is the case. Here is an article that discusses this, but talks out both sides of its mouth:
https://www.avweb.com/aviation-news/pan ... purchases/