A Gulfstream G-IV for under $8MM?

It's an '88 model, but price seems VERY low. Operationally, of course, it'll eat your lunch, but it's *almost* affordable...

http://www.jameslist.com/advert/7213/for-sale-gulfstream-iv-giv

Thoughts?

CW

 

Nice looking...
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here's another one for ~ $8mm...

http://www.aso.com/listings/spec/ViewAd.aspx?id=128525&listingType=true&IsInternal=True&dealerid=

 

That's a HECK of a lot of plane for $8MM.

CW

 

Big airplanes are really, really cheap these days. I would think $8MM for a GIV would be high, although I haven't studied the market lately.

My brother was telling me about a friend of his who bought a Challenger 601 for $500k-- and parted it out.

There are some incredible deals out there in large cabin aircraft-- make a crazy offer, but watch out-- it might get accepted.

My theory is that people are afraid of taking on the overhead involved in owning and operating a large aircraft.

EDIT: I notice that GIV in your link was listed for sale in October 2008! So they are probably getting pretty desperate.

 

Possible to enter a charter pool like yachts?

 

Dont you guys remember how the PC Gods in DC forced the CEO's of GM, Ford, & Chrysler to park their corp jets & drive into DC while Pelosi flew all over on USAF Gulfstreams ?

Big jets are not PC but I hate PC anyways

 

Yes, definitely. You provide the asset, they manage for you. That's what I was thinking. It can work, but jets frighten me. Easy to buy, hard to sell and CRAZY expensive to operate and maintain. So, every time I get the bright idea to go shopping, I pinch myself.

My best friend did a share of a Citation Excel. He dumped it as soon as the renewal came along and went with a Pilatus. Much happier. He could afford the jet, but it wasn't cheap.

CW

 

As if they were going to share one plane! Typical DC. I'm not saying what they did was good from an optics perspective, but they're not going to fly commercial, either.

CW

 

Sure, but in the end you may not save any money, and may end up spending more. Plus large jet charter is way, way down from where it was a few years ago.

 

For a GIV, you should probably be budgeting around $1.5 million per year to operate it. Remember, Gulfstreams have a lot of calendar maintenance, so it's running up bills just sitting in the hangar.

 

$8 Million is high. In 5 years you won't be able to give that plane away.

 

Ah, inflation. I remember that the Boeing 707 was $6 million brand new in 1959. But then, of course, that was over 50 years ago.

I toured a Gulfstream at PDK airport about a year ago and was particularly impressed by the enormous windows. As a former Grumman engineer, I guess I'll always have a warm spot for Gulfstreams over all other business jets.

 

I've always loved the Gulfstreams. Beautiful airplanes. I'm not sure if I'd rather fly it or ride in the back. If we could get 10 guys to go in on it......no, still way out of my league.

I get a bit tired of the usual boring paint schemes on these machines. Usually white with a thin stripe. Here's a better one. N1KE....the Nike jet. I think it's a G-V, with a splash of paint on it!
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Under $8.0 just bought 1991 1175. We have offered to us 4 1990 - 1991 vintage under $8.0.

The maintenance plans are expensive:

Rolls Royce Corporate Care for the engines - $222.19 hr, billed to a minimum of 400 hours
Honeywell APU's MSP - $54.24
Gulfstream PlaneParts - $465.00 hr
Gulfstream CMP.net (maintenance package and tracking) - $9,300 annually

No, a Gulfstream is not cheap.

Jeff

 

Many years ago, a friend of mine tallied up the calendar maintenance alone on a GIII, and it was a fairly big number. Do you know what it is these days?

 

1175 is getting 12 months of due maintenance performed by Gulfstream-Appleton. I am trying to go through some of the numbers now. Shop rate is $112. Because the deal has seller obligations and buyer (us) - they pay for months 1-4 and the pre-buy. We are months 5-12. Our routine labor portion is $10,666.

More updates later.

Jeff

 

If my interpretation of one of the CMP runs is correct they are looking at 1,700 hours of routine maintenance for the 12 months. Don't have a handle on the routine to non-routine ratio yet. Excepting the 72 month big inspection Gulfstream does not pre-quote the maintenance parts that will be required for the routine portion.

Jeff