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How to sell a Private Jet fast

How to sell a private jet fast

One of the more interesting and fast paced deals occurred from start to finish within one week. The seller was an East Coast based company operating a Boeing Business Jet and we were deep into a prebuy inspection for a buyer out of Asia. This buyer had last minute cold-feet and we were about to start the process over again from scratch when by chance the crew of a 757 on the same ramp as our BBJ called to arrange for a viewing on a Friday afternoon. The new buyer was based in the Middle East and had a very particular set of requirements for supplemental lift while their aircraft was out of commission during an extensive refurbishment. The buyer made a low offer and with aggressive 24/7 negotiations by the private jet broker through lawyers, principals and brokers located in 5 time zones we were able to reach an acceptable deal with a closing scheduled 5 days later. The buyers presented several hurdles to a the purchase agreement including a requirement to do a mid-air closing which was rejected and the deal was near collapse. Only with round the clock momentum, full disclosures and representations were we able to complete an all-cash $60M+ closing only 7 days from initial viewing. The buyers were delighted and went on to employ the former pilots for several months and the seller was able to secure a substantial profit on the sale.
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