Gulfstream Moves To Stop G650 Market Speculation
Gulfstream has taken extraordinary measures to prevent speculation in the market for its flagship G650 long-range big cabin business jet. As we reported in October, an early position holder of the $65 million aircraft, Formula One luminary Bernie Ecclestone, sold his almost-new G650 at a $7 million premium to the owner of a soccer team. According to NBC, there have been a few deals since and a few more are pending and Gulfstream has had to plug loopholes in its sales agreements to prevent the aircraft from being sold before they're actually delivered. "Customers cannot sell the aircraft before they've physically taken delivery of it. This prevents speculation, which isn't good for the market," Gulfstream told the network.
Some would-be speculators tried to get around the policy by setting up dummy companies to buy the jets and then selling the company to a new buyer, effectively transferring ownership of the future order. Gulfstream has quashed that gambit by requiring the person who signs the sales contract to be personally involved in the final delivery of the aircraft. Oprah Winfrey and Ralph Lauren are among those drumming their fingers waiting for a G650, according to NBC.