Used Bizjet Market Active Ahead Of Presidential Election—Mente Group
The pre-owned market for business jet sales for the rest of 2019 will be busy as buyers and sellers seek to avoid the uncertainty that comes with a presidential election, according to the Mente Group.
The fourth quarter has been active, the Dallas-based company says.
“With more aircraft on the market recently, buyers and sellers are seeking to make deals before the end of the year to hedge against the economic, political and tax uncertainties that 2020 might bring,” said Brian Proctor, Mente Group president and CEO.
The pre-owned business jet market is balanced today, with an equal number of buyers and sellers seeking to make deals, Proctor said.
“There are a lot of bizjet owners and buyers who are trying to take advantage of the minimum tax environment we are in right now,” he said.
The current favorable tax climate could change in 2020, depending on the political events in an election year. Buyers and sellers have been trying to lock in certainty in the past few months, Proctor said.
Several international economies are “teetering on recession,” and an upcoming election and impeachment hearings have contributed to profit taking in the stock markets, Proctor said.
“As a result, aircraft brokers and lenders have been busy lately,” he said.
Mente has 12 business jets available for sale and buyers looking for specific aircraft, he said.