Our June 2023 update on what’s happening in the Citation Encore preowned sales market;
The Citation Encore remains a favorite among jet owners and operators. As we conduct our research to identify which (if any) Encores will be coming to market for sale, the most common answer we hear is, “We love the aircraft, and we aren’t interested in selling.”
There are a few high-quality Encore aircraft that hit the market in May, while the rest are retiring from charter service and are well over 10k hours. In fact, 40% of the Encores for sale currently have airframe and engine total times over 10,000 hours. High pedigree Citation Encores do not come available for sale often, so when a quality aircraft hits the market, buyers need to be ready to act.
Current average time on market is 56 days and aircraft that sold in the last 6 months spent an average of 98 days on market. Currently, 6.3% of the fleet is available for sale, increasing from 4.4% last month and 2.2% the month prior (see our previous market reports here May 2023 and here April 2023).
Sellers are advised to list their aircraft with specialists on their model aircraft in order to set the price right from the beginning and minimize time on market, in anticipation of possible continued inventory increases over the next few months. Buyers should consult with an acquisition consultant to be sure they aren’t missing out on off-market options or overpaying for their new aircraft.
Contact The Jet Agent to learn more about what makes the Encore such a popular aircraft among owners. We are big fans of this airframe and can provide a thorough and detailed comparison of the Citation Encore to similar airframes such as the CJ3 and CJ4.