The Economics of Aircraft Valuation, Part II

We recently delved into the often-challenging topic of how to effectively price your business jet.

In that blog, we posed some relevant questions regarding what you should consider when you’re trying to assign a market value to your aircraft and why.

Now, drilling a bit deeper into the issues, we want to pinpoint some of the critical factors to help you confidently valuate your aircraft. These considerations can help regardless if the market—the general climate for jet sales—is soft or robust, stable or fluctuating.

Aircraft Valuation Factors

The age, condition, features and performance record of your aircraft are certainly vital to any credible valuation of it.

But so are the external factors—the market and general economic environment at the time of your valuation.

As mentioned, we touched on a few of these market factors. Now we’ll offer some additional context for pricing your aircraft.

Following is a more comprehensive list of key market considerations to help you put a more accurate valuation on your airplane. Knowing the answers will help you determine the value potential when it’s time to remarket and sell.

  • The current market values for similar aircraft, from oldest to newest.
  • The estimated five-year residual value projection.
  • The adjusted market value.
  • The number of recent aircraft sales over the past six months, from most recent to oldest.
  • The most recent aircraft appraisal.
  • The condition of the peripheral markets.
  • The number of available aircraft like yours in the market, and the number of them that are for sale.
  • The assessed best time to invest and/or divest in the asset.
  • The ready availability of maintenance parts and spares for your aircraft model.


Other factors affecting the price of your jet:

  • Use Case – Remember that aircraft use cases can differ considerably, depending on the needs. If the aircraft is owned by a Part 135 charter operator, it’s designed to offer maximum capacity and revenue generation. It may have more flight hours with more takeoff and landings than a Part 91 operator, which adds to the wear and tear of the interior.


  • Adjusted Market Value – The AMV indicates that the market or base value of the aircraft has been adjusted from a half-life condition to account for the actual maintenance status. It should come as no surprise that the maintenance you perform on an aircraft has an impact on its value. In fact, “monetizing aircraft maintenance” is a major factor in valuating an aircraft. If you keep your jet well-maintained and follow an aircraft engine program, it will always be in “ready-to-sell” condition.


  • Aircraft Asset Depreciation – Like most physical assets, an aircraft develops a “depreciation profile” whereby its current market value depreciates, over time, to a residual value. This trend, along with increasing obsolescence factors resulting from new technologies and improvements in fuel burn, has the effect of limiting an aircraft’s useful economic life.


  • Inflation – While economic activity is a key driver of aircraft valuation cycles, the role of inflation should also be considered. While there may be short-term fluctuations, over the long term, inflation can have a significant impact on pre-owned aircraft values. For example, an increase in the net price of new aircraft can have a positive effect on used values, and vice versa. An increase in the rate of inflation is a positive dynamic for the asset-based financing of aircraft when compared to traditional assets, such as bonds and equities.


Be Circumspect

The preceding factors ought to be a strong focus of your assessment and valuation. But don’t forget that there’s no better way to effectively evaluate your aircraft than to try and absorb everything you can regarding the current market. That way you can see how your aircraft measures up.

Also keep in mind that there’s no “silver bullet” to aircraft valuation and pricing. There’s no absolute framework by which to judge the value of your aircraft.

An aircraft’s value is best determined on a plane-by-plane basis, with all the unique considerations of your potential buyer’s needs measured against your plane’s attributes. The results, hopefully, are for a mutual agreement between the buyer and you, the seller.

Talk to an Advisor

Considering the above-mentioned, we’d be remiss not to pitch our own expertise in this valuation equation. As jet brokers, the core of our business is understanding aircraft value and how those values are affected by the influences in our market.

We view our clients as the best business people in the world, and we consider it our job to provide them with the information necessary to make an intelligent assessment of their aircraft, and then help them to execute a sale transaction flawlessly. And we always start by listening and diagnosing before we offer any solutions.

At Guardian Jet, we’ve developed a very comprehensive methodology that focuses on how aircraft, on a relative basis, will perform in terms of resale value.

If you’d like a quick and accurate calculation of your airplane’s value, we’re here to help. Simply complete this short online request form or us a call at +1-203-453-0800.



Posted in Aircraft Valuation, Asset Management, Aviation Industry, Business Aviation, Fleet Planning, Guardian Jet Learning Center, Ownership | Tagged , , , , | Leave a comment

Are Aircraft Buyers Getting the Information They Really Need?

On January 30th at the 2018 Corporate Jet Investor conference in London, Guardian Jet’s Don Dwyer presented, “Are buyers getting the information they really need?”

Read the transcript:

[Don]: I want to start with a recap, and build on a theme that I heard from Chad Anderson and Brian Proctor yesterday.

In my presentation last year, I started with a recap of 2016 and the 126 models that my company measures. Of those that we track and analyze, there were 1,647 transactions. (Now, that’ll be a little different than NBAA deliveries or NARA numbers because they don’t track the same airplanes. But the percentages are very close).

guardian-jet-2016-vs-2017-aircraft-transactions v2

There were 572 brokers in those 1,647 transactions. My point, at the time, is that in the brokerage community, there are no barriers to entry.

As Brian Proctor said yesterday, the guy that cuts his hair has more stringent requirements to be a hair cutter than to be a broker. We have incredibly varying levels of competence in those 572 brokers. Competence in technical, contractual, regulatory issues, financial acumen and ethics.

This year, we had 1,573 transactions. So while most people say it was a great year (it was for my company), but in the models that we measure, there were slightly fewer transactions. The good news is there were 482 brokers, so it’s coming down.

We said last year that we wanted the bottom number to grow, and the one on the right to go down. So at least the one on the rights going down.

It’s even more prevalent in the in the light jet business, which I think it’s a more serious problem. There were 408 transactions and 220 brokers. By the way, this talk is not about aligning yourself with a big brokerage.

I’ll talk about our company just a little bit. We’re not the biggest guys in the game, but at 60 transactions were one of them. We buy more than we sell. Last year, out of the 60 transactions, 36 were purchases. About half of those were new airplanes. So we have some weight in the in the community.

So this year, there were 457 transactions. A good year. Transactions went up and there were only 164 brokers.

I looked at how did that happen. I think the easiest way to explain it was I think a lot of you know Cyrus. Cyrus Sigari at JetAviva is rolling up a couple companies and putting some together. But what he really did was go out and embrace the community to that he sells to—the light jet community.

He puts on events. He’s at every Citation jet pilots association event. He really went out and embraced that community, which is something I think we all need to do. So we’re going in the right direction and moving toward in that space, I think, one of the better models for brokerage.

I’ll get on with what Al asked me to talk about and the question was are customers being served by the brokerage community? I will tell you across those 572 brokers, it’s impossible that they’re all served really well.

Is there too much data in business aviation aircraft sales?

The next thing he asked me is there’s too much data. And the answer to that is emphatically no.

We have a we consulting business along with along with a brokerage. We crunch a lot of data, and I am regularly criticized for providing too much pricing information to my customers.

Let’s think about that. I provide pricing information to my customers. I tell people what airplanes are worth what the markets are doing because that informs them and they make better decisions because of the data.

At the end of this month, we’ll have six full time researchers so we have a lot of data. But I get criticized for showing it to my customers I am NOT giving this out to anybody that I don’t have an exclusive brokerage with.

So is there too much data? No.

I’m not sharing it with your customers, but the reason I get criticized is people will say, “Well it’s harder for us to make money when they know what these airplanes are worth.”

I’m sorry but that’s just old school. That’s an old model that’s not gonna work for much longer.

Is there not enough insight in aircraft sales?

The other question Al asked me is, “Is there enough insight?”

I will tell you that depends. I think across those 572 brokers yeah probably not but there’s a lot of insight being gleaned from the data. Today that the better brokers, in this room and around the world, are of providing.

Oh, Simon Burroughs I don’t think Simon’s here great young broker here smaller business believe me I love the smaller businesses they’re serving their customers well.

Simon said to me, “data is the new oil.”

And I thought that was really interesting. He went on to talk about the insights that he was gleaning from the data, and helping his customers. A really, really great approach, but I think it depends on who your broker is if you are getting the insight.

There’s what it boils down to. I think everybody does a little of both.

deal-centric vs customer-centric

There are deal-centric brokerages and there are customer-centric brokerages.

There’s a lot of people out there just turning deals. There is nothing wrong with that if you are buying or selling an airplane. There’s nothing wrong with being a great broker that just goes out and execute transactions flawlessly.

deal-centric expertise

Deal-centric Broker

What does it take to be a good deal-centric broker? Well you’ve to have transactional expertise.

  • Valuation
    You’ve got to understand the value of airplanes. That’s why I have all these researchers. Valuation is the cornerstone of every good brokerage. Most brokerages aren’t covering 126 models from the PC-12 to the G650.I think I did a dozen “like jet” deals last year. It’s about half a dozen probably. Most of our businesses the super midsize and above. But wherever you are—and most brokerages tend to focus on a smaller segment than we are—you’ve got to be good at valuations.
  • Technical
    You’ve got to be strong technically. These are complicated airplanes.
  • Regulatory
    Today you’ve got to be good at the regulatory issues because, one, its going to affect valuations. But, two, it really affects your customers experience when, in a year, they have to change things and invest money in their airplane that they may not get back when they sell it. So understanding regulatory issues is important.
  • Contractual
    So we say it differently than Brian said yesterday. I love how he said he wanted a standardized contract. I thought that was really, really good. And I know you know one of our guys is on the board and NARA with them. And I love the idea of the standardized contract. It’s hard to pull off in this environment.The way we say it is we are looking for industry standards. We want to negotiate like demons on the commercial issues in the transaction, but then when we go to contract. We want it to move fast, and we want to go to industry standard. We are not trying to gain advantage in the contracting process. I think somebody that’s a good deal-centric broker has to do that.

By the way, there’s times that I’m a deal-centric guy. Somebody comes to me and says, “I just want you to sell my airplane. Stop with the data. I don’t need a fleet plan. Please sell my airplane.” So this is what I need to be good at.

save millions - customer centric


Customer-centric Broker

Being customer-centric is different. The expectation of the customer.

Getting lifetime customers. The reason we do it is because—and this is not an idle claim. The first time I heard my brother say it, I said “Should we say that?” And then he brought up all the examples where we do it and anecdotally. I can tell you stories all day long where, over the life of the asset, when you buy, how long you own it, how you equip it, looking for opportunities in the markets, understanding when to sell, and what what’s available from the OEMs in the used marketplace. We save people millions of dollars over the life of the asset. So does every good broker. I’m looking at Brad Harris. Brad has done that time and time again.

What is the expectation of a customer-centric brokerage customer? It’s very different from, “Go get me the next CJ or go sell my 450.”



  • Transparency
    Their expectation is transparency. And this is a hard one for this industry without any regulation.I love what’s going on at NARA. A great thing I heard yesterday, which I hadn’t heard about, was the thrust to be an international organization. With no borders on the regulations, there’s no reason NARA isn’t international. Bravo Johnny for pushing that.Transparency is a big deal in our industry. Our customers are engaged with us to be their advocate.I saw something yesterday in Brian’s presentation that really stuck with me. The expectation of our customer group is there’s hidden money in the deals. That somebody’s making money they don’t know about. The expectation.

    To me, that’s extraordinary and wrong. And, by the way, this happens in every industry. And it eventually filters down to the transparent businesses. When in the maturity of an industry, this is coming.To be customer-centric, you have to have expertise in a total cost of ownership. Not only do I have to be good at valuation, technical, regulatory and contractual (what the deal-centric broker has to do), but now I’ve got to be good at a lot of things: residual values, financial instruments, capital planning and market trends.

total cost of ownership corporate aircraft sales

  • Residual Values
    There’s a couple of great residual value stories. If we looked at the 10 years prior to 2008 (and that includes 4 years of irrational exuberance), the top 10 models that we sell lost an average of 1.5% over a 10-year period. You bought an airplane in in 1997, you sold it 10 years later. The 10 models lost an average of 1.5%.The same period for us now, it’s double figures. So that’s a sea change in the business.But what performed really well? The G650. I bought a G650 at $59.5M. It’s now 5 years later, I got 1500 hours on the airplane, and I go sell it for $46M or 47M. Do the math. It’s not double digits.The new introductions—the Phenom 300—the only airplane I know that’s really pre-2008 in its residual value reduction, it’s like 3 or 4 percent a year. Well that should affect my buying decision.I still like the Lear 75. It’s a great airplane. It competes with the 800. Eight seats. It does a lot of things well. It’s bulletproof, but boy that if I’m looking at the total cost of ownership. That 3-4 percent a year matters.
  • Financial Instruments
    I’ve got to understand financial instruments. There’s a few people here (thank you for their sponsorship of this) from Global Jet.We just did a deal with Global Jet where we represented the buyer and seller. That’s something we’re doing all lot more now. Something I don’t love to do is represent both sides of the deal. (By the way, you think transparency is important? Represent both sides of a deal).Well, the guys at Global Jet were brilliant because we had a customer that had leases with more than one financial institution. The guys at Global said, “Okay they want out, but you have another customer. Can we get them into a lease?” And now we got three big companies, and a little one, working together.We saved the buyer millions who bought the best airplane in the world. And we saved the seller millions because getting out of a lease can be incredibly restrictive. So understanding financial instruments is more important today. There’s a whole discussion on leasing buying financing, etc., that’s different. But you’ve got to be great at that to be a customer-centric broker.
  • Capital planning
    We just love capital planning. We think that whether you own a CJ2 or whether you’re Walmart who owns more than one airplane, you really ought to be smart about the capital you have invested.How long should you own these airplanes? How should you prepare the airplane? Should you be on an engine program? And, by the way there’s never an easy answer to that question because it depends on the model and time, and a lot going on. In that discussion, you ought to be good at capital planning.For every Walmart fleet plan we do—every annual plan we do with these large customers—I probably do 10 “I fly 100 hours a year. Should I own my own airplane and charter it? Should I get a fractional? Should I just keep chartering?”That’s just capital planning. If you’re really involved with your customer, and really always put his best interest at heart, you’ve got to be good at that.
  • Market Trends
    Of course, you’ve got to understand market trends. That’s what I love about our researchers because they’re living in these markets. Believe me, I’d love to tell you I’m the smart guy in the business. I’m not. These are the guys that live in these markets that tell us what’s going on.So, go back to that 452 brokers—this cottage industry—with no regulation, that anyone can enter, regardless of their ethics. I am so tired of brokers sending me emails that say, “I’m looking for an off-market G550.”

    “I’ve got three airplanes on the market today. Why are you looking for an off-market?”It’s because they’re trying to make money in the middle. I get it. I’m sensitive to it. I understand that everybody’s got to make money, and sometimes you don’t have control of the customer, so I understand it.

    But I’m seeing more off market airplanes today coming across the desk than what’s in a listing service. Well they’re on the market. There’s no real such thing as an airplane for sale that’s off market. I’m sure there’s a good reason to do it, but I haven’t figured it out.But, anyways, if we if we think across that spectrum of brokers…

    Jay Mesinger is at the top of those 572. Brad is at the top of those. Johnny is at the top of those. Chad. These guys are all at the top. Joel McCarthy. Great broker.

move your customers to a better broker
Move your customer to the better brokers. You owe it to your customers.

I think that you should expect more for your customer and demand more of your broker than a lot of the people in the industry are currently getting.

Thank you.

[Question]: Do you think we should be publishing transaction prices?

[Don]: That’s a great question. Of course, it’s a leveler. In the real estate market, you can go down to the town hall and you figure it out. Should we publish it? You know, I spend a lot of money to get it, and other people aren’t. I’m not anxious to publish what I have, except to my customers. So it is probably a bigger issue than my capitalistic nature, but I don’t know that it would be a bad thing. I mean I think it’s a leveler.

It’s a little difficult when you publish prices and Brian or Chad alluded to this yesterday. They said they said you can make mistakes when you only hear the price you hear about a

G550 that sold for $15 million. You don’t necessarily know, was it damaged? Was it up to regulatory compliance? Was it horrid looking? I’m afraid that we live in such thinly traded markets.

It’s an interesting thing about the markets right now. There’s more of G550s than GVs. We really looked hard at the last 6 months of sales and pricing. The six months previous in October when I looked at it, there were 24 sales of G550s; there were two in the GV market in 6 months. That’s levelled out a little bit since then. I’m afraid that those are really thinly traded markets. So, somebody could make a leap if they look at a $9M GV and not really understand what that means. That’s probably where the danger in it is.

[Question] To follow up, let’s say there’s a white tail goes off at a $16M discount. I think everybody in the industry finds out about it. You were talking about valuation. So would everybody at the banks have the same perfect information?

[Don] That’s a great question. I probably buy more new airplanes than anybody in the world we’re buying 18-20 new airplanes a year, year in and year out. I hear about pricing that I can’t get. I hear about $35M Globals and I hear about Challengers for unbelievable numbers. And I can’t get ‘em. I think I’m OK at getting the lowest number I can get.

If it was published, it would protect the person that over pays. We’re very sensitive to the vagaries in the marketplace. If there’s a bunch of whitetails by a manufacturer, and I know I’m gonna pay “X” they sell them all out because they sold them all at “X.” Well now they want a $1M more. Well it’s not really good service to buy one of those for my customer because the guy that bought it for a $1M less—he’s the one setting the resale price.

There’s probably some merit to it, but you know people engage us for that and I don’t know… I love the idea of transparency, but I want to make sure people are educated. And that’s harder in this world where there’s a lot of information flow in this world. There’s a lot of people understanding what’s for sale and what’s not for sale and you know it, but man it’s in the weeds. Is it a good buy? Is it a good sales price? You’ve got to have the time and energy and resources and people to dive down in the weeds to understand the pricing.

[Question]: What defines a broker?

[Don]: We’re a broker. We’re representing customers and transactions. I think we wear a couple hats as some other companies do. I think we’d probably marry them better than most but we’re a consultancy first.  I spend my energy on consulting. As a matter of fact, our sales guys they’re charged with customer creation. They’re charged with bringing in new customers, and we sell the airplanes internally. The easiest thing in a brokerage is to sell the airplane. Getting the customer to let you give you an exclusive listing is the hardest part.

[Question]: Will you disclose pricing information.

[Don]: That’s a really good question.

We distribute pricing information to our customer base, but there are customers that don’t want to say what they spent on an airplane. And of course we won’t distribute that there’s an interesting thing of how do you find these prices it’s and I hate to say it it’s horse-trading.

First of all, the Blue Book and vRef are fabulous. They are they are stunning in how close they are. They’re measuring a lot of models. We kind of take it a step further, and we work with everybody and try and understand what’s happened in a very short, acute period of time. But yeah, I don’t think people would like to see their name published.

The GE flight department closure was sort of the tip of the iceberg. We’re seeing a lot of companies shrink their flight departments. There’s a lot of scrutiny around should they go to EJM, should we go to FlexJet, NetJets, and it’s all related to the optics, which I think that question addresses.

[Alasdair]: Brilliant. Thank you very much, Don. Thank you.


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Matt Rosanvallon Joins Guardian Jet as Sales Director

GUILFORD, Conn. – February 7, 2018 – Guardian Jet LLC, the Guilford, Connecticut-based business aviation consulting and brokerage firm, is pleased to announce the appointment of Matt Rosanvallon as Sales Director.

Rosanvallon brings exceptional sales background and experience to his position, in which he’ll be responsible for building and maintaining the company’s presence in the New York region.

“Matt Rosanvallon’s knowledge of, and passion for, the business aviation profession runs deep, as he has family roots in the industry,” explains Doc Dwyer, Vice President of Sales, Guardian Jet.

“Combine that passion with Matt’s outstanding grasp of market evaluation and sales, and we feel that it’s a very winning combination for him and for Guardian Jet.”

Prior to joining Guardian Jet, Rosanvallon served as a commercial and real estate consultant and broker for his own self-titled consultancy. He also previously rose through the ranks at the high-end, New York-based commercial real estate firm, Coalition LLC, where he ultimately served a very successful tenure as Director of Sales & Marketing. During that time, he developed hundreds of new customers for his firm, including many Fortune 500 companies and startups.

As a dual citizen of the U.S. and France, Rosanvallon is fluent in both English and French. He graduated from Clark University in Worcester, Mass., with a BA in Business Management with a focus on Computer Science.

About Guardian Jet
Founded in 2002, Guardian Jet, LLC, offers business aviation brokerage, consulting and oversight services for thousands of clients worldwide. The company distinguishes itself with its focus on integrity and industry expertise, and by consistently providing business value to clients. Guardian Jet’s core mission has always been to earn the right to buy and sell aircraft on behalf of its clientele by providing great consulting advice, market intelligence and flawless execution.

Media Contacts:

Jill Henning, Forward Street Marketing, 1-602-502-6206

Don Dwyer, Guardian Jet, 1-203-453-0800

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FOR SALE: Pristine, Turnkey Gulfstream G200 (Serial Number 83)

Guardian Jet is pleased to represent for sale a pristine, turnkey Gulfstream G200 (serial number 83).

Accommodating up to nine passengers, this mid-range jet is a great, reliable, coast-to-coast aircraft.

Operated on a Part 91 certificate since new, this one-owner aircraft handles exceptionally well. In excellent condition, the aircraft has had a recent interior refurbishment and paint job, and is always hangered.

Available for immediate purchase, the asking price is $3.495 million.

Gulfstream G200 interior


The Gulfstream G200 is a super-midsize cabin, medium-range business jet aircraft, and is often compared to the following models: Bombardier Challenger 300; Cessna Citation Sovereign and X; Dassault Falcon 2000; Embraer Legacy 450 and 500; Gulfstream G150 and G280; and Hawker 850XP, 900XP and 4000.

With a published range of 3,400 nautical miles (6296.8 km), this G-200 will give its new owner the freedom of direct flights from, for example, Los Angeles to New York, New York to London and London to Moscow.

Maintenance programs include:

  • Engines on Pratt & Whitney Canada’s Eagle Service Plan (ESP) Gold program
  • Auxiliary Power Unit (APU) on Honeywell’s Maintenance Service Plan (MSP)
  • Avionics on Rockwell Collins’ Corporate Aircraft Service Program (CASP)

The jet’s interior and exterior were both refinished in 2014 by Gulfstream. The exterior paint is Matterhorn White with Gamma Grey and DuPont Fighter accent stripes.

Gulfstream G200 interior


The aircraft’s nine-passenger executive cabin interior configuration features a four-place forward club and aft divan across from a two-place club. There is a forward galley, aft private lavatory and folding tables between each club setting.

The forward galley offers, among other features:

  • High-temp Oven
  • Food Chiller
  • Coffee Maker

Gulfstream G200 exterior model


The following are among the Gulfstream G200’s maintenance highlights:

  • Engines enrolled on ESP Gold
  • APU enrolled on MSP
  • Avionics on Collins CASP
  • Maintained per MSG-3 Inspection Program
  • Computerized Maintenance Program (CMP)
  • Maintenance Tracking Program
  • Operated per Part 91
  • Manufacture Date: June 18, 2003
  • In Service Date: November 10, 2003
  • Original Certificate of Airworthiness: November 4, 2003
  • 1A / 1C Inspection performed in 12/2016
  • 4C / 6C / 12C performed in 08/2015

Gulfstream G200 flight deck avionics


The jet’s avionics highlights include the following, among other features:

  • Collins Pro Line 4 Avionics System Version 6.1
  • Honeywell VHF Airborne Flight Information System (AFIS)
  • Dual Collins Attitude and Heading Reference System (AHC-3000)
  • Dual Collins Air Data Computers (ADC-850c)
  • Single Automatic Direction Finder Receive (ADF-462)
  • Dual Baker b1045 Audio Panels
  • Dual Collins Flight Control Computers (FCC-4005)
  • Universal Solid-state Cockpit Voice Recorder (CVR-120 minutes)
  • Dual Collins VHF-422A Communications with 8.33 kHz Spacing
  • Dual Collins Distance Measuring Equipment
  • Artex C-406-2 Emergency Locator Transmitter
  • Honeywell Flight Data Recorder (AR-256)
  • Dual Collins Flight Management System (FMS-6100) with dual gps-4000a
  • Dual Bendix/King KHR-950 High-frequency Receiver with Selcal
  • Dual Collins Navigation (VIR-432) computers with FM Immunity
  • Collins Radio Altimeter (ALT-4000)
  • L3 Communications Standby Attitude Indicator
  • Coltech Selcal Decoder
  • Mini GAR Quick Access Recorder
  • Dual Collins Radio Tuning Units (RTU-4420)
  • Collins Pro Line IV 5-Tube Electronic Flight Instrument System / Electronic Flight Data
  • Collins Traffic Collision and Avoidance System 4000 with Change 7.0 (TCAS II)
  • Honeywell Terrain Awareness & Warning System MARK V (Version 6.1) Computer with RAAS
  • Dual Collins Transponder (TDR-94d) Mode S with Flight ID
  • Collins RTA-858 Weather Radar with Dual WXP-4220 Control Panels

Gulfstream G200 entertainment


The aircraft’s array of communications and entertainment features include the following:


  • Air-to-Ground GoGo Biz High-speed Data
  • Aircell Wi-Fi Router
  • Iridium Aircell Two-channel Flight Phone System
  • Four Handsets


  • Collins Cabin Management System
  • Airshow Collins “Network”
  • Dual 15-in. LCD Bulkhead Monitors
  • LED Cabin Lighting

Gulfstream G200 interior 5


This aircraft’s capabilities and features are extensive, and include the following highlights:

  • Emergency Visual Assurance System (EVAS)
  • miniQAR Quick Access Recorder
  • APU Surge Valve Exhaust Muffler
  • Pratt & Whitney Engine Monitoring Data Transmission Unit



Don’t hesitate to take advantage of this one-of-a-kind opportunity to own this beautifully maintained aircraft.

For more information about the Gulfstream G200, please contact us at 1-203-453-0800, email us, and/or download the aircraft specifications brochure.

Gulfstream G200 interior lavatoryGulfstream G200 for sale - interior business jetGulfstream G200 forward galley



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Business Jet Valuation, Part I: What’s my Airplane Worth?

Are you planning for an imminent (or eventual) aircraft sale?

One of the main questions you’ll be pondering is: how do you determine what your current aircraft should be priced at?

In other words, how do you effectively calculate your business jet’s value?

The best way is to carefully analyze market conditions, residual values, your past travel patterns and future requirements.

For help, a broker and business aviation consulting firm like Guardian Jet can present options that best match your aircraft appraisal needs.


Timing is Key

In fact, understanding aircraft value is at the heart of everything we do at Guardian Jet.

From analyzing and predicting residual values to pricing aircraft competitively, aircraft valuation literally touches every consulting project we engage in.

As jet brokers, we’ve demonstrated to our clients time and again that they can realize significant savings over the lifecycle of their asset.

They can do so by making incremental adjustments in the timing of their aircraft sale, and, correspondingly, the purchase of a new replacement.

You can execute this critical transition—from your previous aircraft to a new one—all the more successfully by engaging some thorough planning on the front end.

The questions that need to be answered, though, are many.

For example, what are the factors that influence jet values? And what are the best entry and exit points of your sale to consider?

 In this—the first of a two-part series addressing aircraft valuation and market analysis—we’ll delve into many of these critical considerations.

Our aim is to help you more effectively assess and assign optimal value to your aircraft.


What’s in an Aircraft Market Survey?

Surveying the market is the first, most fundamental step in effectively valuating your aircraft.

And a well-thought-out market survey delivers the current state of a particular aircraft model marketplace.

At Guardian Jet, our survey includes two primary sections. The first deals with what is for sale and the second with what has recently sold.

In the “for sale” section, aircraft are listed sequentially, oldest to newest. Each aircraft receives plusses or minuses for things such as total time, options, maintenance programs, damage history, engine overhaul status and general condition.

What’s called a “Aircraft Value Calculation” is then generated for every airplane for sale. We factor in the model’s features, base value and the premium or discount the market happens to be trading at.

But if we’re going to be able to effectively survey the market let’s first lay some groundwork—and provide some context—for valuating your aircraft.


Factors that Matter

There are numerous variables when it comes to valuing (or pricing) a private or corporate aircraft.

Valuation can be assessed differently even on serial numbers of the same aircraft type.

Some of the factors that affect pricing include:

  • Number of aircraft currently in service
  • Number of aircraft currently for sale
  • Where the aircraft for sale are located
  • Aircraft age
  • Aircraft total time
  • Engine program
  • Features (connectivity system, upgraded avionics, upgraded cabin management system, etc.)
  • OEM-designated lifecycle of the aircraft
  • Aircraft base value
  • General condition and damage history
  • Whether the aircraft’s layout is standard or custom
  • Current market behavior: Is the market selling at a premium or a discount?

Our goal is to help you generate the best aircraft market analysis and, thus, the best price for your aircraft.

So in the next installment of this two-part blog, we’ll offer some bottom-line recommendations to help you make the most of your valuation and market timing.


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Pros and Cons of an Airplane Engine Program

A question we get asked often at Guardian Jet is, “Should I enroll my airplane on an engine program?”

What our customers mean when they ask this question is, “How does an engine program affect my airplane’s resale value?”

The answer is, “It depends.” And it depends by aircraft model.

Listen to Doc Dwyer’s explanation in this 3-minute video or read the blog for details:



When we get asked the question, we consider several factors, including:

Current Market Enrollment

What is the rest of the fleet doing? If 90% of the fleet is on an engine program, it’s probably a good idea that you’re on an engine program, too.


Historical Sales

Next, we compare current market enrollment with sales in the past 6 months and 24 months.

If the current market enrollment in an aircraft model is 50%, but 75% of the aircraft that have recently sold are on a program, we can quickly see the market’s favoring aircraft on a program.


Aircraft Sales Price

We do a very similar analysis with whether an aircraft is selling at a premium or at a discount. Again, we look at the past 6- and 24-months of aircraft that are both on and off programs. Then we compare their confirmed sales price to our aircraft value calculation at the time of sale.


Days on Market

Another key metric to look at is days on the market and days to sell. Are the aircraft that are currently on the market, that are off programs, taking longer or shorter to sell?


Planned Aircraft Sell Date

When will you be selling your aircraft? Are you going to be close to an overhaul?

Selling an aircraft at or near an overhaul, without a program, is very difficult. Often times the program buy-in at that time is more than the cost of the overhaul so you don’t necessarily what to buy a program.

Thus, if you’re thinking that you’ll be selling near an overhaul, it’s a very good idea to be on an engine program.


Airplane Engine Program Discounts

Lastly, we recommend taking advantage of buy-in discounts if you’re enrolling a large fleet all at once. A special offer may enhance a program’s value.

All things equal, as a broker, I like airplanes on an engine program. Simply put, they’re easier to sell.

We often get told by our buying clients that they want an aircraft on a program. Very rarely do we have buyers come to us, saying they don’t want to buy an aircraft that’s not enrolled on a program.


Your Turn

If you have any questions, or if you’d like assistance looking at a specific market, please give us a call at +1-203-453-0800or send us a note. We’d love to talk about it further.



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For Sale: Bombardier Learjet 60 (S/N 60-153)

Guardian Jet is pleased to represent for sale a beautiful Bombardier Learjet 60 (Serial Number 60-153).

Guardian Jet Bombardier Learjet 60 exterior

Accommodating up to eight passengers, this midsize jet is a great value! It would be ideal for the first-time buyer seeking to fly privately and perhaps offset the costs by chartering.

In fact, the S/N 60-153 is already operating on a Part 135 certificate, so there’s no need to re-equip it to meet charter requirements.

As can be expected with a Learjet, this Lear 60 handles exceptionally well.

Because it features heavy wing loading, the aircraft delivers exceptionally smooth flights, even in turbulent air.

The speed-proportionate nose wheel steering system makes the jet easy to handle on the ground, and strong wheel brakes assist in landings and increased ground control.

The Learjet 60’s climb and cruise performance are exceptional. So are its operating costs, which rival similar jets of its size.

In short, it’s hard to find a longer-range or faster private jet at such a value.

 Guardian Jet Bombardier Learjet 60 interior


The Learjet 60 is a mid-size cabin, medium-range business jet aircraft that rivals the Gulfstream 150, Hawker 750, Hawker 800 and Citation Sovereign.

With a published range of 2,405 nautical miles (4,454 km), this Learjet 60 will give its new owner the freedom of direct flights from, for example, Los Angeles to New York and, Chicago to San Francisco.

With its engines on an ESP Gold program, the aircraft has fresh A-D inspections from August, 2017. The next mid-life engine inspection is scheduled at approximately 2,300 flight hours, and the next 12-year inspection is not due until August, 2022.

The jet was repainted in 2008 in overall Jet Glo Matterhorn white with Acry Glo khaki and Black Velvet accent stripes.

Guardian Jet Bombardier Learjet 60 interior


The eight-passenger interior configuration features a two-place divan and a single, forward-­­facing seat at the entry, with a four-place club and a belted lavatory seat.

The cabin seating and lower side walls are in blue leather. The carpet, cabin runner, steps and crew seats were refurbished in 2008 by Duncan Aviation and the high-gloss woodwork was refinished in 2003.

The refreshment center offers, among other features:

  • Warming oven
  • Hot liquid containers
  • Ice drawer
  • Drink storage
  • Waste bin

Guardian Jet Bombardier Learjet 60 engine


The following are among the Learjet 60’s maintenance highlights:

  • Engines Enrolled on ESP Gold
  • Maintenance Tracking by Avtrak/CAMP
  • 3 Rotor Brakes
  • Quiet Technology Carbon Graphite Inlets
  • Safran Starter/Generators

Guardian Jet Bombardier Learjet 60 avionics flight deck


The jet’s avionics highlights include the following, among other features:

  • ProLine 4 Avionics System
  • Dual Collins Air Data Computers
  • Dual Collins Attitude and Heading Reference System
  • Dual Collins Automatic Direction Finder
  • Dual Collins VHF-422A Communications with 8.33 kHz Spacing
  • Dual Collins Distance Measuring Equipment
  • Artex C-406-2 Emergency Locator Transmitter
  • Mark V Enhanced Ground Proximity Warning System with Windshear Alerts
  • Dual Universal Avionics System (UNS-1C) Flight Management System
  • Bendix/King KTR-953 High-frequency Receiver with Selcal
  • Dual Collins Navigation (VIR-432) computers with FM Immunity
  • Collins Radio Altimeter
  • Rockwell Collins Weather Radar

Guardian Jet Bombardier Learjet 60 communications and entertainment


The aircraft’s array of communications and entertainment features include the following:

  • Airshow 400
  • Forward cabin-mounted 10.4-in. monitor
  • DVD, CD changer and cassette player

 Guardian Jet Bombardier Learjet 60 interior 2


This aircraft’s capabilities are extensive, and include the following highlights:

  • Traffic Collision Avoidance System (TCAS) II change 7
  • Terrain Avoidance and Warning System (TAWS)
  • Reduced Vertical Separation Minimum-capable (RVSM)
  • Required Navigation Performance (RNP)

Available for immediate purchase, the asking price is $1.495 million.


Don’t hesitate to take advantage of this one-of-a-kind opportunity to own this beautifully maintained aircraft.

For more information about the Bombardier Learjet 60, please contact us at 1-203-453-0800, email us, and/or download the aircraft specifications brochure.


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For Sale: 2010 Bombardier Challenger 300 (S/N 20252)

Guardian Jet is pleased to represent for sale this impeccably maintained 2010 Bombardier Challenger 300 (Serial Number 20252).

Accommodating up to nine passengers, this remarkable aircraft has had just one owner since it was built.

Challenger 300 serial number 20252 four-place club


With its engines and APU on JSSI®, and outfitted with a ProLine 21™ with Dual File Servers, the Challenger 300 is EASA-certified and is available for immediate sale at an asking price of $9,750,000.

The super-mid-size Bombardier Challenger 300 was a “clean sheet” design, providing a bridge between Bombardier’s Learjet series and its larger Challenger aircraft.

The 3000nm range allows non-stop flights from New York to Seattle or San Diego, or from Geneva to Dubai, for example.

Challenger 300 serial number 20252 floor plan layout

With a cabin cross-section similar to the G550, but with operating costs more akin to mid-size jets, the Challenger 300 is an attractive proposition for both private and commercial operations, and this helped it to become the best-selling business jet platform of the last decade.


With its original interior completed by Bombardier in Montreal, this contemporary nine-passenger executive configuration features eight seats in the cabin (dual 4-place club) and a belted lavatory.

Challenger 300 serial number 20252 interior

Cabinetry is in natural-stain sycamore with a hard-wearing satin finish, and the premium carpet has a soft, high-density loop.  Beige leather reclining seats and a cream ultra-leather headliner complete the theme.

There is a private aft lavatory compartment with in-flight access to the baggage bay, and the forward galley includes a microwave oven, coffee maker, dual hot liquid containers, and various storage drawers for ice, chinaware and flatware.


Challenger 300 serial number 20252 galley and jump seat

This aircraft has the optional jump seat, which can be used either by a third flight crew member or a flight attendant, and a curtain divider between the galley and main cabin ensure privacy for the passengers.

It is also equipped for extended over-water operations.

Challenger 300 serial number 20252 engine


The following are among the Challenger 300’s maintenance highlights:

  • Engines Enrolled in JSSI®
  • APU Enrolled in JSSI®
  • Maintenance Tracking by CAMP Systems

Challenger 300 s:n 20252 flight deck avionics


Its avionics highlights offer the following, among other features:

  • ProLine 21 with Dual IFIS File Servers
  • TCAS II with Change 7.1
  • Dual TDR-94D Mode S Transponders with Enhanced Surveillance

Challenger 300 serial number 20252 entertainment


The aircraft’s array of communications and entertainment features include the following:

  • Lufthansa Technik’s nice HD Cabin Management System
  • Rockwell Collins Airshow 4000
  • Iridium Satellite Phone System with ICS-200 Transceiver
  • Dual 20-inch LCD Bulkhead Monitors
  • iPod Dock

 Challenger 300 serial number 20252 lavatory


The Challenger 300’s capabilities are extensive, and include the following highlights:

  • Basic Area Navigation(B-RNAV)
  • Minimum Navigation Performance Specification (MNPS)
  • Reduced Vertical Separation Minimum (RVSM)
  • 8.33-kHz Radio Channel Spacing
  • Frequency Management (FM) Immunity


Don’t hesitate to take advantage of this one-of-a-kind opportunity to own this beautifully maintained aircraft.

For more information about this Bombardier Challenger 300, contact us at 1-203-453-0800, email us or download the aircraft specifications brochure.

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Welcome Kyle Canna, Aircraft Market Researcher

Guardian Jet is pleased to welcome our newest team member, Kyle Canna.

As an Aircraft Market Researcher, Kyle is responsible for ensuring the quality and reliability of the information in Guardian Jet’s proprietary market surveys.

In fact, in his role, Kyle researches more than 125 aircraft markets to determine details about current aircraft for sale and their valuation. He also monitors aircraft sales and helps the company identify new opportunities for aircraft acquisitions.

Kyle earned a BS degree in Aviation Science (with a concentration in Aviation Management) from Bridgewater State University in Bridgewater, MA.

A private pilot with his instrument rating, Kyle has accumulated nearly 150 hours.

In keeping with his passion for aviation, Kyle brings to Guardian Jet his desire to one day help buy and sell jets and become a commercial-rated pilot and earn a type rating.

In his spare time, he enjoys a variety of sports, including playing hockey and lacrosse.

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How Will the New U.S. Tax Laws Affect Business Aviation?

In this video blog, Guardian Jet’s VP of Sales Doc Dwyer explains how the new U.S. tax laws will impact business aviation in 2018.

You can watch the 2:46 video or read the transcript below.

Hi, I’m Doc Dwyer.

Today I’m going to talk about the new U.S. tax law, and how it’ll affect business aviation.

Overall, we see a very positive impact on the industry . . . in no small part due to the first major change: 100 percent bonus depreciation.

Bonus depreciation will now be available on both new and used aircraft. This replaces the five-year MACRS depreciation schedule that were used to.

We’ve seen bonus depreciation for new aircraft, but we’ve never seen it for used aircraft. This is a very important distinction because the second major change is the elimination of 1031 like-kind exchanges for aircraft.

We can no longer tie two transactions–a buy and sell–together with a like-kind exchange.

Income tax will now be due on the sale of the difference between the tax basis and the sales price.

This, however, will be mitigated by the bonus depreciation, and the fact you can get a full deduction in year one.

So, in essence, you’ll have the same net effect as a 1031 like-kind exchange as long as both transactions are done in the same year.

You’ll even get the benefit of a 100 percent bonus depreciation.

So, we expect the focus to shift from doing both transactions in a 180-day window to doing both transactions in the same year.

A couple other benefits we see in the tax bill:

  • Most individuals and LLC’s will see a drop in tax rates by approximately 2.5 percent.
  • Tax rates for large corporations will drop to 21 percent, plus the state tax rate.
  • There’s no effect on sales tax trading credits. (Trading credits will still be available in states that allow it.)
  • A couple caveats to the 100 percent bonus depreciation:
    • Part 135 usage – Use the 7-year MACRS for that portion.
    • Part 91 usage – If the business usage is less than 50 percent, it’s not eligible for that bonus depreciation and you’ll use the 7-year MACRS schedule instead.

Overall, like we said, this is very positive news for the aviation industry. If you have any questions or would like to talk about it in more detail, please don’t hesitate to call us at +1-203-453-0800 or email us here. Thank you very much.


Posted in Aircraft Tax Laws, Announcements, Aviation Industry, Business Aviation, Guardian Jet Learning Center, Ownership | Tagged , , , , , | Leave a comment