The mega rich are finding big profits in flipping their big business jets.
Demand is highest for Gulfstream’s new G650 business jets. In some cases G650 sellers are pulling in profits of $5 million to $7 million per deal, according to a report by CNBC.
Formula One tycoon and billionaire Bernie Ecclestone recently flipped his Gulfstream G650 to an Asian businessman for $72 million, about $6 million more than his purchase price, according to the report.
The transaction, reported by BizjetBlogger, took place just weeks after he bought the plane from Gulfstream.
Demand for the big birds come at a time the market remains sluggish for smaller business jets.
But the large jets are a hot commodity.