Following is an article that went viral on social media, answering the question that so many are interested in: how much is a private jet?
Below is Howards answer, circa June 2017:
Whatever you want it to be, to a point. Let’s look at some scenarios:
Baller on a budget: Get an 80s/90s vintage Challenger 601–3A or 3R. Depending on its maintenance status it’s $1MM – $2.5MM; price will also depend on how much it’s been refurbished and/or upgraded. It’ll take you and 10 friends anywhere in the US. A refurbed one is very close looking inside and out (particularly if an S-galley is installed) to the follow-on 604, 605, and 650 – most people won’t even know the difference.
Bit more budget: Get a 2000ish vintage Falcon 2000 classic and put some winglets on it. $4MM +/- (the winglets are half a million more but they really help performance and make the aircraft visually nearly identical to a factory new 2000LX). Beautiful and efficient aircraft; known by those in the know as the jet that many who can spend whatever they want choose even though they can have anything. It’s often all the jet you need..
Bit more dough: get a 200x Gulfstream GIVSP. It’s a total baller aircraft. You and a dozen or more friends go in ultimate style and comfort. Those big Rolls Royce engines, massive wingspan and huge oval windows give you unbelievable ramp presence for $6MM. You can get much lower here price wise, but be careful! The 20 year engine overhaul is usually around $2.5MM (or more). And the variation in avionics and maintenance/upgrade status make the IVSP a very complex market. But $6MM will buy you a winner.
Got $10MM?? Move to the next Gulfstream generation with the G450 or – get a cherry Falcon 900EX. Nothing like the security and cache of 3 motors and the Falcon panache. For this money, that much aircraft is a bargain. Not bigger than the GIV, but takes you more places (particularly high elevation resorts) and – again – that third motor; very efficient so it’s much cheaper to operate than the Gulfstreams . Great avionics and if you want to splurge go for a later vintage 900EX-EASy or even a 900LX (current model):
We could keep going: Global Expresses/5000s/6000s, Falcon 7X’s. 8Xs, Gulfstream G550s, 650s, Embraers, at the lower end more Citation models than there are iOS updates, and Boeing BBJs.
The newer model Globals, Gulfstreams and Falcons are typically $20MM-$40MM used (or more), and roughly 1.5 to 2 times that new. There’s a private jet out there for any budget. Define your mission and personal tastes and budget and have a great time. It’s a super time to buy a used jet – prices have dropped dramatically but are stable, and even the 20–30 year old machines can be superb purchases.