market UPDATE
The G650 remains one of the most desirable ultra-long-range business jets ever produced. Its combination of range, speed, and cabin comfort continues to drive strong global demand. There are currently 151 aircraft in operation, with just 4 aircraft for sale, and this represents only 2.7% of the total fleet. Notably, 100% of the aircraft for sale are on Exclusive Listings, indicating a disciplined approach by sellers. With availability under 3%, supply remains tight and supportive of aircraft values. Looking at the past 12 months, the inventory levels have remained limited, down 64% from a year ago. Today, pre-owned G650 values generally range from the low 30's to the mid-40s, depending on year, total time and equipment. The production years span from 2012 through 2022. Overall, asking prices are up about 1% year over year, reflecting a very stable market. Turning to transaction activity, the current average day on market is up 46% from a year ago at 270 days, which is skewed by aircraft based in challenging locations for access and export. Late model low time aircraft are selling in a timely manner. Over the past 12 months, we've seen 17 retail sales showing continued buyer absorption for properly priced aircraft. From a supply and demand perspective, the 650 market remains firmly in the seller territory. Inventory remains limited, while global demand for ultra-long range aircraft continues to remain strong. In addition, OEM delivery backlog across the Gulfstream product line are pushing many buyers towards the pre-owned market. In summary, the G650 market remains strong. Inventory levels are extremely limited, values remain stable, with steady transaction volume. OEM backlog is helping support pre-owned pricing, keeping supply tight, and demand steady. Overall, we rate the current G650 market demand as an A.
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