Average prices for preowned business jets are expected to continue to climb over the next six months, according to a recent survey ArcosJet conducted of European business aviation companies. Sixty percent of the respondents expressed the belief that prices will see that continued growth and as many estimated that it would be the second half of 2022 when preowned inventory begins to grow again, ArcosJet said.

Meanwhile, 46 percent see the biggest shortage of supply in the U.S. and another 40 percent in Europe. Only 13 percent said they are ready to sell their aircraft five years or younger, while 47 percent said the best time to sell is between five and 10 years and another 40 percent said aircraft should be sold after 10 years.

The survey also delved into model preferences, with respondents spread evenly at 40 percent between the Bombardier Global 7500 and Gulfstream G700 and the other 20 percent with the Dassault Falcon 10X in the ultra-long-range flagship category. In the large business jet segment, ArcosJet said “respondents are willing to consider the entire model range on offer, with a slight tilt towards the Challenger and Falcon platforms,” and the Pilatus PC-24 and Embraer Phenom 300 edging slightly ahead in the light segment.

Some 73 percent of the respondents were fleet operators with business jet brokers and dealers accounting for another 13 percent and handlers and financial institutions making up the rest. The respondents were from Austria, Germany, Spain, Italy, Poland, Finland, France, the Czech Republic, Switzerland, Sweden, and Estonia.

"Today, players in the preowned bizjet market find themselves in a unique situation, when the shrinking number of preowned aircraft put out for sale is driving the average price to record highs,” said Yuri Dzun, ArcosJet’s sales and marketing director for Europe. "This is quite a challenge for the entire industry: brokers, buyers, and sellers alike. Our survey findings indicate that the market expects the situation to change no sooner than in six months."