Sporty's Mustang Sale Raises $500,000

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An anonymous buyer has paid almost $500,000 extra for the privilege of jumping the line to buy a Cessna Citation Mustang. When the Mustang was first announced, Sporty's Pilot Shops owner Hal Shevers was among the first to put down a deposit and he got the 13th position. Rather than keep the twinjet (and give up his existing larger Citation), Shevers bet that there would be others who would pay a premium for being among the first to take delivery of what Cessna calls its "entry-level jet."

Instead of pocketing the cash, however, he decided to put it to good use via the Sporty's Foundation, which funds scholarships and outreach programs to help maintain the supply of new pilots entering the system. "Our business is small airplanes and The Sporty's Foundation is dedicated to supporting scholarships and programs for individuals pursuing a career maintaining these aircraft," Shevers said in a news release.

The sticker price on Shevers' Mustang was about $2.6 million, and that was the upset price on an online auction run through Sporty's Web site. The winning bidder is paying $3.117 million for the aircraft and will have it by the end of the month. He or she will be trained by FlightSafety International and the type rating is included in the price. The foundation is emphasizing youth-related programs and scholarships and has already granted money to help the Aircraft Electronics Association's education fund.