Our January 2024 update on what’s happening in the Citation Encore preowned sales market;
There are 159 Citation Encores in operation today. As of January 30th, 2024, there are 7 Encores for sale, which is 4.4% of the fleet. Over the past few months, there have been between 6 and 8 for sale at any given time, or 3.8-5% of the total fleet.
The Citation Encore market is bifurcated into two segments. The first is for the core of the for-sale aircraft that includes Encores that have less than 10,000 hours and are truly for sale. The other consists of high-time retired charter planes and less desirable aircraft with storied pasts that have languished on and off market for years. Parts companies and other wholesale buyers often look to these aircraft for a deal, or an opportunity to use the aircraft for parts for their existing fleet needs.
One of the metrics we follow is the average time on market, both for aircraft currently listed for sale as well as aircraft sold over the last six months. Of the first segment Citation Encores currently for sale, the average days on market is 72 days. There have been two Citation Encores listed in the last week which lowered the average days on market. Of the second segment market of Citation Encores, the average days on market is 270 days.
Looking at the first segment Citation Encores that have sold over the last six months, they spent an average of 91 days on the market before changing ownership. The second segment aircraft followed no real pattern and spent anywhere from 15 days on the market to 94 days.
The other metric we follow is the range of prices for aircraft currently for sale, as well as the range of sold values of aircraft that have changed ownership over the last six months. If you are looking to purchase a first segment Citation Encore today, you could expect to see asking prices between $3,495,000 and $4,000,000. As for the second segment planes, you would see ask prices between $2,395,000 and $3,500,000.
In December, one Citation Encore sold, and over the last six months, eleven Encores sold. Of those eleven, the first segment Citation Encores sold between roughly $2,800,000 and $4,500,000. The second segment Encore that we have a value for traded at approximately $2,700,000.