Our October 2023 update on what’s happening in the Citation CJ3+ preowned sales market;
The Citation CJ3+ fleet continues to grow, thanks to new deliveries from the manufacturer. There are now 252 aircraft in the fleet (up from 249 at our last market update) and 14 of them are for sale currently (5.6% of the fleet).
Over the last few months, we saw the average asking price come down a little (currently $8.68 Million) and the average sold price rise (currently $8.73 Million). Newer Citation CJ3+s are leading the market, bringing the average sold price up. As the manufacturer maintains a backlog of orders,, buyers that need an aircraft now are electing to purchase slightly used aircraft instead of factory new.
The Citation CJ3+ preowned market has been consistent over the last few months with an average of two sales closing in July, August and September; however, inventory has been steadily increasing during this time to now just under 6% of the fleet for sale. Despite this, the Citation CJ3+ proves to still be a very popular business aircraft among owners, with consistent sales at strong sold prices.
As we enter Q4, the busiest season in pre-owned business aircraft sales, it is more important than ever to work with a professional and ethical aircraft broker. From negotiating contracts to helping find the perfect aircraft for you (whether on-market or off-market), using the right aircraft broker can make all the difference in your experience and prevent you from overpaying in a changing marketplace.