In July 1998 there were 750 used jets for sale and today there are more than 2,000. Pessimism swapped places with exuberance in early 2001 and jet values came crumbling down. This year proved to be slightly different in terms of price degeneration, which on many aircraft seemed to occur at a slower rate than last. While there are no examples of increasing prices on the pre-owned market, some model types are in slightly smaller supply than last year at this time.
Last year, the November-December-January period posted lower monthly business-jet-inventory figures month-over-month. It was the first time in 24 months that a net decrease occurred. Looking back, it would appear that this three-month inventory retraction was not the beginning of the trend sellers may have been hoping for, but rather a response to September 11, coupled with what has historically been one of the most active trading times of the year. The temporary 90-day dip in the net level of used jets yielded to market forces soon after 2002 got under way. A more interesting drop occurred this past June, when, for reasons still unclear, the net supply of aircraft for sale fell by 35 units, the largest one-month drop in three years. Again, with no follow up, the pre-owned stock step-climbed up to and beyond 2,000 units for the first time ever in September. Thirty-nine months earlier, it had been at 1,000.
