How to negotiate the best price for a private jet

Different cultures can negotiate in unique and odd ways. A couple of years ago we were representing the owner in the sale of a Gulfstream GV with a buyer from Asia that was aggressively bidding on a Gulfstream GV’s. This buyer made multiple offers and we finally agreed to a price and began a logbook review. Upon successful log review the client was required by the terms of the purchase agreement to accept or reject within 24 hours of the log review and the buyers came back with a new price. While initially surprised with the price change we asked why they felt they could demand a new purchase price when the log review was clean and indicated no problems with the aircraft. They informed us they wanted to just buy the aircraft for less and no other reason. After difficult discussions with the owner and considering legal actions we reluctantly ended the day with the plan to accept this new lower offer in breach of the accepted offer. Funny how one day can change everything. Over night one of our private jet brokers were contacted by an overseas buyer who had previously seen the aircraft and expressed interest. We then were able to maximize our seller’s value by now having a new party make an offer on a dead deal and we increased the price significantly from the previous buyers offer. Our seller was delighted and the remainder of the transaction moved along according to plan and another successful closing and happy client.

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