From Citation CJ1 to CJ3: A Coordinated Aircraft Transition
After eight years of operating a Citation CJ1, VR Leasing needed more range and capability for its evolving missions.
President John Van Baren knew the company needed a different aircraft. What he didn’t have was the time to personally manage the countless details involved in selling the CJ1 while simultaneously finding and acquiring its replacement.
Experience had also taught him something important.
Having made mistakes during the company’s first aircraft purchase, John understood the value of experienced representation the second time around.
The Jet Agent began by analyzing the company’s mission and comparing Citation CJ2+ and CJ3 alternatives.
The search ultimately uncovered a Citation CJ3 that had not yet been publicly listed.
At the same time, The Jet Agent marketed and sold VR Leasing’s existing CJ1 in 103 days—compared with an average 172 days on market for comparable CJ1s at the time.
Both transactions closed within weeks of each other.
Transaction Snapshot
Aircraft Sold: 2001 Cessna Citation CJ1
Serial Number: 525-0425
Aircraft Acquired: 2007 Cessna Citation CJ3
Serial Number: 525B-0171
Client: VR Leasing
Client Representative: John Van Baren, President
Representation: Seller and buyer
Transaction: Citation CJ1-to-CJ3 aircraft transition
CJ3 Acquisition: Off-market / pre-market opportunity
CJ1 Days on Market: 103 days
Comparable CJ1 Market Average: 172 days
Result: CJ1 sold approximately 40% faster than the prevailing market average
The Jet Agent’s involvement included:
- Mission requirements analysis
- Citation CJ2+ versus CJ3 evaluation
- Market and aircraft availability analysis
- Off-market aircraft sourcing
- Citation CJ3 acquisition
- Coordination with the client’s legal representative
- Citation CJ1 valuation and marketing
- Citation CJ1 sale
- Coordination of sale and acquisition timelines
- Transaction management through closing
A Changing Mission Required a Different Citation
VR Leasing had operated its Citation CJ1 for eight years.
Over time, the company’s mission requirements changed. Greater range and capability became increasingly important.
That established the need for a different aircraft—but not necessarily which aircraft.
Rather than beginning with a specific airplane for sale, The Jet Agent started by analyzing the company’s mission and evaluating the Citation models that could best satisfy it.
The search narrowed to two possibilities:
Citation CJ2+
and
Citation CJ3
The objective was to determine which aircraft best fit the mission before committing the client to a particular acquisition.
Evaluating the Citation CJ2+ Versus CJ3
The CJ2+ and CJ3 each represented a meaningful step up from the CJ1, but selecting the replacement aircraft required looking beyond the model designation.
The Jet Agent presented options tailored to VR Leasing’s mission requirements and evaluated the available market for each.
John later said the team’s understanding of current market conditions and aircraft availability quickly became apparent during the process.
The Citation CJ3 ultimately emerged as the preferred solution.
Then The Jet Agent identified an aircraft that gave the client another advantage:
It hadn’t reached the public market yet.
Finding the CJ3 Before It Hit the Market
The 2007 Citation CJ3, serial number 525B-0171, had not yet been publicly listed when The Jet Agent identified it for VR Leasing.
That gave the client an opportunity to evaluate the aircraft before it was exposed to the broader buyer market.
Off-market and pre-market access can be particularly valuable when the buyer’s requirements are clearly defined.
But access alone doesn’t make an aircraft the right acquisition.
The aircraft still has to fit the mission, make economic sense and successfully progress through the transaction process.
For VR Leasing, 525B-0171 did.
It became the company’s replacement for the CJ1.
Managing the Details the Client Didn’t Have Time to Manage
One of John’s principal reasons for hiring The Jet Agent was bandwidth.
He was running his company and did not have time to personally manage the many details involved in an aircraft upgrade.
Those details became particularly important because the assignment involved two transactions happening at roughly the same time.
John also wanted experienced guidance after encountering challenges during his first aircraft purchase.
The Jet Agent managed the acquisition process and worked closely with John’s legal representative as the transaction progressed.
John later said that without the team’s attention to detail, the deal could easily have fallen apart.
Selling the Citation CJ1
While Denise Wilson managed the CJ3 acquisition, Jon Gilbert handled the sale of VR Leasing’s existing Citation CJ1.
The aircraft was strategically positioned in the market and sold in 103 days.
At the time, comparable Citation CJ1s were averaging approximately 172 days on market.
That means VR Leasing’s aircraft sold approximately 40% faster than the market average, while achieving a sales price at the top end of the expected range.
The sale was not treated as a separate assignment unrelated to the acquisition.
It was one half of the client’s aircraft transition.
Coordinating the Sale and Acquisition
Aircraft owners replacing one airplane with another face a timing issue that standalone buyers and sellers do not.
Sell too early and the owner may be without an aircraft.
Acquire too early and the owner may temporarily own two.
The financial, operational and logistical considerations of one transaction can affect decisions involving the other.
For VR Leasing, The Jet Agent managed the CJ1 sale and CJ3 acquisition as components of the same transition.
Ultimately, the two transactions closed within just a few weeks of each other.
In John’s Words
“Upgrading from our CJ1, which we had purchased eight years earlier, to a more capable aircraft was a significant decision driven by the need for greater range to support our missions.
To navigate the complexities of this process, I sought recommendations from others who had recently purchased aircraft. The Jet Agent came highly recommended, particularly Denise and her team.
Given my busy schedule running the company, I didn’t have the bandwidth to dive into the countless details involved in upgrading an aircraft – details that are crucial to getting it right. Having made a few mistakes during our first purchase, I knew how important it was to have experienced guidance.
The Jet Agent team was there for us every step of the way. They began by understanding our mission requirements and then presented CJ2+ and CJ3 options tailored to our needs. It
quickly became clear that they had an excellent grasp of the current market and availability. In fact, we ultimately selected an aircraft that hadn’t even hit the market yet.
The process involved numerous intricate steps, and Denise worked seamlessly with our legal representative to ensure everything was handled correctly. From the initial search to the final paperwork, The Jet Agent team’s attention to detail was outstanding. Without their expertise, the deal could have easily fallen apart.
In the end, Jon sold our CJ1, and we successfully closed on both transactions – our CJ1 and the CJ3 – within just a few weeks of each other. Both deals were completed at fair market prices, leaving all parties satisfied.
We couldn’t be happier with The Jet Agent’s professionalism and expertise. If you’re considering buying or selling a jet, I wholeheartedly recommend their team.”
— John Van Baren, President, VR Leasing
The Result
VR Leasing successfully transitioned from Citation CJ1 525-0425 into Citation CJ3 525B-0171.
The Jet Agent:
- Analyzed the company’s changing mission requirements
- Compared CJ2+ and CJ3 alternatives
- Identified a CJ3 before it was publicly listed
- Managed the CJ3 acquisition
- Worked with the client’s legal representative throughout the transaction
- Marketed and sold the existing CJ1
- Sold the CJ1 in 103 days versus a 172-day market average
- Achieved a sale approximately 40% faster than the prevailing average while obtaining a price at the top end of the expected range
- Coordinated the two transactions so they closed within weeks of one another
The result wasn’t simply a successful aircraft sale followed by an acquisition.
It was a coordinated transition into an aircraft better suited to the company’s evolving mission.
What This Citation Transition Demonstrates
Start With the Mission, Not the Aircraft
VR Leasing needed more range and capability.
The Jet Agent did not begin by assuming which aircraft the company should buy.
The CJ2+ and CJ3 were evaluated against the mission first, and the CJ3 emerged as the preferred solution.
The Right Aircraft May Not Be Publicly Listed
The CJ3 ultimately acquired had not yet reached the public market.
Identifying opportunities before they are broadly advertised can give a buyer access to aircraft that would otherwise not appear in a conventional market search.
Selling Strategy Should Be Measured Against the Market
The CJ1 sold in 103 days when comparable aircraft were averaging 172 days on market.
The meaningful result isn’t simply that the airplane sold.
It is how the sale performed relative to the market in which it was competing.
An Aircraft Upgrade Creates Two Interconnected Transactions
The CJ1 sale and CJ3 acquisition were managed around the same underlying objective.
Both successfully closed within weeks of each other.
Experienced Owners Still Benefit From Representation
John had already owned the CJ1 for eight years and had been through an aircraft purchase before.
That experience did not make professional representation less valuable.
It made him more aware of the details that mattered—and the consequences of getting them wrong.
Considering an Upgrade from Your Current Citation?
The aircraft that fit your mission eight years ago may not be the aircraft that fits it today.
Changing range requirements, passenger needs, utilization and business objectives can all create reasons to move into another Citation.
The Jet Agent helps owners evaluate those requirements, compare potential replacement aircraft, search both public and off-market opportunities, and manage the disposition of the aircraft they already own.
When both a sale and an acquisition are involved, we approach them as a coordinated transition.
The objective isn’t simply to sell one Citation and buy another.
It is to move from the aircraft you have into the aircraft that best fits what comes next.
