The REAL COST Of Owning A Gulfstream G700
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- čas přidán 27. 06. 2024
- Presenting you the cost of owning, buying and using the private jet, Gulfstream G700.
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In this Business Planet video we will be answering the following questions:
- What's the cost of owning a luxury private jet, like the Gulfstream G700?
- What's the total yearly cost of the Gulfstream G700?
- What are the expenses of Gulfstream g700
- How much does cost to own and maintain a Gulfstream g700?
- What's the average price of a used Gulfstream G700?
- Expenses, total fixed costs abd yearly budget needed to maintain a private jet.
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Are these fixed costs monthly or yearly
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Very interesting I could really need the assistance of someEXPT
To improve my time as it should
Thanks for sharing… please what’s the Handel?
Here's the handle @ king.arobertson
For how expensive this airplane is, the operating cost per year seems pretty decent to me. Im sure the people who can afford this type of aircraft spends just as much on extravagant meals each year!
Agreed!
sure!
Good point, like $2,000 on a breakfast
@@toxichammertoe8696 Exactly! And like its nothing too!
I would think most of these private jets are legally owned by an entity, which can then use the monthly payment and operating expenses as a tax write off.
My father was a corporate pilot. He always said that if you have to ask how much it cost to have a Gulfstream then you can't afford it.
TRUE! Please don't then :)
can a blackcard owner buy this or just be an passenger?
@@OriginalsabahanSVJ Blackcard owners can just drive their Tesla ! 😂😂😂
That’s the shit that broke people like to say.
If you don’t care what things cost, you’ll never be rich
@@businessplanet6998 I am so glad I have a wealth mindset I have yet to ask how much & I mostly ask When can I get something
I was told by a Global 7500 operator that it costs $3-5 million a year to operate this class of aircraft depending on how much you fly. Most fly 200-300 hours a year.
👀👀
That doesn't cover the fuel, extra fees, etc. I tell people it's like having a boat at the Yacht Club just to sit on at the dock (cost of slip, yacht club fees, MX and crew filling the tanks at the start of the year, etc) and never leaving the dock will be $20K a year. Once you leave the dock, now you have to pay for the fuel, the hourly fee's for the warranty coverage of each engine, Gen, hull, electronics, etc, plus the staff's expenses for being gone.
3/4 tank of fuel for a 7500 is about 32 thousand dollars
Wow seems like they’re getting you for your money with a global 7500
Honda jets may produce a more affordable long range intercontinental fuel-efficient alternative at some point in the near future
I don't know why this video came down my timeline but, this is my type of living !!! We are all here for a reason 🙏🏽
0:56 The Gulfstream G700 [...] can transport up to 12 passengers [...] a normal cruise speed of 600kt [...] and a 6,600nm range.
1:54 The G700 [...] can carry up to 19 passengers [...] can cruise non stop for 7,500nm [...] can maintain a cruise speed of 516kt.
What is it?
Glad I wasn’t the only one to catch this blunder lol
Since the aircraft has not been released as of yet…. and improvements and upgrades are still being implemented,The entirety of this video is nothing but a best guess. Complete click bait
I worked at Gulfstream out of Savannah GA and even though I don't remember the exact numbers, I'm pretty sure that the speed, range, and altitude were higher, more, and greater than the ones the video mentioned. And I don't know about passenger capacity, but 19 seems like a little bit of a stretch. Nice catch btw
7500nm is with 8 pax 4 crew
The numbers were all over the place and without accuracy even on the subject like the pounds per hour or gph comment. Just bumbling garbage to fill space crap video
The last plane I worked on was a G650 at Dallas Love Field Airport.
The Owner/Operator of these aircraft usually own a very high revenue generating Business, with a Flight Dept.
A large part of Business transportation is a tax write-off for these companies, making aircraft a little more affordable.
I have a G700 on order; the G550 and a couple others. My business does well. I sub the management and flight crews out.
@@realistic.optimist cappin is fun isnt it
I came here to learn how to trade after listening to a guy on radio talk about the importance of investing and how he made $460,000 in 4 months from $100k. Somehow this video has helped shed light on some things, but I'm confused, I'm a newbie and I'm open to ideas.
Investing in crypto is a good idea, a good trading system would puts you through many days of success.
I've been making passive income monthly from crypto for over a year tho' I prefer trading with the help of a professional broker Nora Hendrix because she saves me time and reduces the risk of losing funds in trading as we all know how volatile the market is.
@@calebsarah9985 Interesting. I've a huge sum of money doing absolutely nothing at all in my bank account, i wanna gets something started with it. You seem to be doing excellent for yourself, how do you achieve this?
Am trading with expert Nora Hendrix, a regulated broker in US, Met her sometime early last year at a start up funding event. She has some interesting things to say about the state of algorithmic trading today. Obviously I'm seeing the results
I invest with Mrs Nora too, she charges a 20% commission on profit made after every trading session and that's fair compared to the effort she puts in to make huge profits.
Thank you so much for this amazing video !
Appreciate the support
It's just cheaper to charter a plane like this at $9,500.00 per hour and split the cost with your co-passengers.
The great thing about this plane is you'll be flying faster than commercial jets do and you'll arrive at your
destination much quicker and in spacious comfortable seats. 🤓
Providing you can get one for when you want to go there, if your company owns aircraft that problem goes away.
when its YOUR plane you can do prostitutes and drugs and smoke, none of which you can do on a chartered jet
You can tax write off and add some fake bills if its yours.
Let me know I want to go with you 🔥💯
@@alainportant6412 but most of us arnt sick disgusting depraved people that feel the need to have thoes things.
The most amazing take away of this clip is that
It is only 15x to 20x more to insure a jet than to insure an automobile
the plane cost 2142 times more than a $35,000 car. That is actually a bargain if we think about it
The big difference the plane is flown by a professional crew not some idiot who just got his license and has no driving skills :)
Very informative thank you
Between buying The One mansion in LA for $295 million, my $500 yacht for my Europe trips, and my $75 million G700 to fly everywhere, I think i would probably need to win multiple lotteries.
It's all about priorities :)
I don't think you can get a bass boat for $500....If you got an ocean crossing yacht for $500, you DID win the lottery!
Any mansion that you are looking at in LA you could probably get in Texas, Georgia, Illinois or other states, for about $90M and that would be on the high side. You should never have to pay over $50M to get a palatial mansion.
As for your yacht, I don't know what you have been looking at, but you should be NOWHERE near that price! ever. The Ace by Lurrsen is only $125M (a little older) and it is 278' or the newer 312' Kismet for $200M. That is just one yacht builder, but the finish work is amazing. But but you can get a small Palmer Johnson or some other larger yacht for under $50M.
As far as your Jet. You can get a pre-owned G650ER with decent hours for around $35M to $45M.
So there you have it. All from just one Lottery winnings.
Or build multiple companies
Thanks for the information, I'm changing my mind about owning one for obvious reasons !!
This vid does a good job on the smaller costs of owning a $75M aircraft, but glosses over or leaves out the two largest costs which are 1) time value of the purchase price (whether financed or not, this is at least 4%/year on $75M = $3M), and 2) DEPRECIATION of the aircraft which is usually approximated as 15 year straight line = $5M/year. So true total costs of owning/operating a G700 are ~$10M to $12M per year depending on how much you fly it (200 hours is low, 500 is high - unless its owned by a charter service which could fly it 2,000 hours+/yr). Using 200 hours (~4 hours per work week) this is $50,000 PER HOUR.
This annual operating cost is about 3% of the purchase price of this plane, which is much less than for a megayacht !
private jet can be owned by millionaires but megayachts can only be owned by billionaires
Operating cost is roughly 10% long term per year
@@fatdoi003 I disagree someone worth $500m can easily afford a mega yacht. Anything over 50 metres is a mega yacht. You can get on for £70 m
@@dopemusic6414 No way, Dilbar more than 100 meters is mega yacht but 70 meters Solo only a super yacht
@@overrated3733 All yachts above 24m is normally considered superyachts. There is no set definition for the term "mega yacht", but as Music mentioned, it is usually used for vessels above 50m. In later years, as yachts have increased in size, many have began using the term "giga yacht" for vessels above 100m.
This video was very informative & greatly appreciated.
Glad you enjoyed it!
love your stuff bro, hope your channel blowup, do more funny stuff it will be more interesting to watch. Here before 3.3k
I love it thanks
I would rent it out 2 all rich friends when I’m not using it ..it will pay 4 it’s self💪🏾💪🏾💪🏾
Network = Net worth
The difference here is, for the Billionaires that buy it, are that these planes are tax writes offs as a business expense. Not only that, you can depreciate the asset to get a massive tax break.
Is that the same for their megayachts
@@thehonorablejiveturkeyspoo6370 I do not believe boat ownership can be, but if you charter a boat you certainly could. For example, if you and a couple of your buddies charter a boat for a week and you do business with your buddies, the charter trip could essentially be a "business trip / entertainment of clients".
@@e6bav8r good point
Exactly...the cost for them companies are Zero...But people don't seem to get it.
Thing is f*ckn sweet, gonna go pick one up tomorrow
Hah let’s goo
This video is super informative. This aircraft is our 5-Star Flat in the sky.
I loved you on "Good Times"!
That's not bad if you're a billionaire or even a multimillionaire raking in 40 to 100 million annually. I'm in real estate and should I ever get into the position of making that kind of money I'll be using these planes to travel to my real estate development sites often. For now, I'll stick to budget airlines.
Thanks for sharing! Sounds like you'll have one of those in the future.
Realtor here ... That's right , I'll too be sticking to budget
@@qwill8254 I wanna be rich too but I am an introvert with no social skills 🥺
@@EXPLORER-hq1us I am too an introvert , but social skills , you got to learn
@@qwill8254 what I don't understand is that if I ever start a company how will I get super smart people(with high social intelligence) to do what I want them to do. Example- you want them to create a product better than than the rival companies and for that they would have to work at their maximum capacity right? So how would you make these people to do that(since they would not want to work hard since its not their company? That could be easier if your company is already a big company but how would a normal person make smart people innovate?
Rule of thumb 5% of purchase price is annual operating cost.
It's more like 10% long term....maybe 5% if you plan on getting rid of it before the next big inspection
200k learjets are like 100% lol
@@celsoneto9596 A 200k learjet is must be very old probably not even airworthy. But yes maybe $500K floor then 5% of purchase price whichever is higher.
If they tell this on this video, the video will be like 5 seconds! 😂
Wow that's amazing! So how can I get started?
I appreciate that someone gathered all the details and did all the math and produced a nice visual and audio experience. But, maybe it’s my age now getting to me, but it’s really hard to keep listening to try to learn something when the voiceover doesn’t take the time to learn how to pronounce words like amortized (amortization), or “La Guardia”. It’s like hearing good music, then someone runs their nails down a chalkboard in the middle of it.
He also repeats lots of information twice and sounds like a robot trying to space out his words to extend the video time. Play it at 1.25 times speed that actually sounds somewhat normal
As soon as he mispronounced "amortized," I stopped watching.
Who cares I don’t want a stupid plane anyway
1st, let the pilot and co-pilot get a few hrs to get familiar. 2nd, make sure to pay top notch for top notch pilots. 3rd, most importantly, make sure your pilots are well rested before flight. God Bless
Well said!
once airborne.. pilots can switch to auto-pilot and snooze away..,,,they are mostly plane take-off's and plane landers. So, pay them to sleep onboard for a reduced rate.
@@BlueOriginAire Reduced? What happens when auto land and auto takeoffs? More reduction?
Wow I like it 😻 😻
So glad I seen this video…I was just about to nip down to my local Gulfstream dealer and buy one!!! Guess I’ll stick to my moped
Insane💪🏼
Let's go!
@@businessplanet6998 🤣🤣👍
When you consider how much more productive you are two million a year is peanuts. It is actually about 7000$/hour.
FACTS
@@businessplanet6998 I have a couple G's in my company and usually use the 550 since it can land at Aspen. Any wingspan over 95' is not allowed to land there. I think they do that on purpose.
I just saw Elvis's old jet for sale and some of the technology look obsolete, I can't help but think what people will think of this one 50 years from now!!!
love it
It might be expensive to buy and maintain but these aircraft are just a company tool(s) to take company c class executives to meetings that will hopefully generate contracts and revenue.
Or just an awsome form of transport for a global family vacation.
Is there an anti turbulence package available?
Haven't even stepped foot on a g700 been on everything below that tho. Context is I am a interior service person for corporate and private jets.
Assuming 2 mil annual expenditure 250 h travel time on average 10 passengers on board, hourly rate would be 800 USD/h. or ca 2400 USD for London- New York.
It's more like $15-20K a flight hour...not 8K.... plus most of the time, you have to pay for the return flight back. As you have to factor in fuel, landing fees, staffing costs. IT's roughly 10% of the value of the jet every year just to keep it running, that doesn't included the cost of chartering it out.
@@andrewj9831 bruh ...
I did not know that Janet from "Friends" actually had a brother! Exactly the same voice but with a male...ish tone to it. And maby Janet is the TV-star in the family but this brother...ish wins the award for saying exactly the same thing, witch is miscalculated figures through out almost whole quarter of an hour! Witch with out all repetitions could have been done in 3 min. Good job! Everytime I see a clip like this I just can"t stop thinking that we should never left the caves. Like in Afghanistan.
Why do you have two different stats for both the G 700? There’s one at the beginning of the video that says 12 passengers and then a few minutes later you say it’s 14 passengers. One has a longer range they can fly one has a shorter range you can fly but you are calling both a G 700. So which is it ?
Total Cost is 25% or Less based on the cost to build jet but the Price or Value is Based on Where Geographically You Source Your Property Also These Private Jet Companies Build These Jets for Pennies or Cents on the Dollar
Does Gulfstream G700 only for ambitious tycoons? Or does it have business purpose be too?
I might have missed it, but when he talks about the salaries for crew, he didn’t say how many members?
You are far better off even booking the ENTIRE First class section of a commercial aircraft for where ever you want to travel!
To me seems like a huge bill but to the super rich it's just like paying a phone bill.
True, but a million here, a million there, pretty soon you're talking about a lot of money ;-)
Just to satisfy curosity, most of us cannot afford it. Rule of thumb, quick and dirty, what ever you paid for that jet say $40 million, in seven years, it would cost you an equal amount to operate it, give or take a couple of million here and there which is loose change falling out of the hole in your wallet if you can afford one. Very often, it is a tax write off, for the jet is as much a business tool as the computers. It earn money for the company and prevent big losses and is actually cheaper to use the jet than to give all the executives airline tickets for a convention.
If you own this plane...You have style and class.
Both pilots, an FO and a captain, is about 500k a year.
At this moment I'm not yet in the status to have a jet myself. But what would be the adviced yearly income to own a Gulfstream?
> $75,000 per year.
@@PerfDayToday just 75K? How is that possible when a hourly fuel price is already 4.2k? Don't you mean 75 Million?
@@BasNunnikhoven sarc!
@@PerfDayToday ahh lol
I want it!!!
Love love
Appreciate you
Does it depreciate steeply like most luxury cars?
Waiting for my order.
Coming to you
Is this still available?
A G700 costs about $3M/year conservatively to operate. Crew alone will account for about $750k/yearly in 2023 estimates. And thats just 1 crew. Engine insurance alone would run you $600k/yearly and that is not to be confused with HULL insurance. Fixed maintenance cost on a G700 will run you over $500k/year and thats assuming normal wear and tear. This video is nice but is not accurate in numbers. BTW nobody flies a G700 yet so the numbers I gave are based on G600 and G650 ownership.
Damn I bought a used corolla a few months back. And now this seems interesting 🙄
Someone that is down to earth. And when corporations purchase a private jet, the total cost of ownership is added into the cost of the product they are selling. The customer pays as the cost of the product also goes up. I would be very curious as to how much the access to a private corporate jet is abused. We do see to often there is no one minding the store.
i hope one day.. i can buy 10 of them
aamiin
Play this at 1.25 speed so it actually sounds like he isn’t talking isn’t talking on slow mo and thank me later.
Don't forget that in 99% of cases such planes are registered in the name of large corporations. I seriously doubt that multimillionaires or billionaires register them directly in their names. And for companies with an annual turnover of several tens or hundreds of billions of dollars, these costs are funny. In addition, companies often deduct various amortization costs for airplanes and thus minimize taxes. In simple words, it is also profitable for the companies.
Fixed costs and variable costs you seem to have confused.
It's not yet in production...unless you mean g600
Is on track to enter service in late 2022
@@businessplanet6998 All the numbers are consistent with the estimated 700 costs.
So I am curious- it had the fixed cost @ $1,003,000.00 but the breakout didn't cover crew training? are we to assume its 250k /yr ?
Purchasing new usually includes 4 slots for training. Recurrent isn't very much after that.
@@dylansayles8383 The cost comes from fixed fees, like having two pilots at $200K a year plus expenses, MX cost, hanger fees, etc
@@andrewj9831 I wasn't disagreeing with the fixed cost. Just pointing out that buying the jet new gives the buyer a lot of pull as far as training expenses and slots.
1m is probably a little low to be honest. Rolls royce corporate care is usually 450 hour min per year for the engines (unless you can haggle with RR for lower hours), director of maint is 150k or more (assuming 91 operator and not just going on a 135 cert), chief pilot will be mid 200s, right seat guy a little less, and that's before you get into hanger, detailing, insurance, ect.
@@dylansayles8383 I work on the MX side of things, and that's $450 per engine/hr (plus they get Min hours a year), APU, Internet, Software costs, airframe costs, Crew Chiefs (Mid 150+'s) for MX, then they tend to hire out a lot of work. The cost of the PIC/SIC are about right. So just to keep it in the hanger costs 1M+ easy, fly it somewhere and its adds up fast. Most PIC/SIC also gets a daily fee plus expenses, throw in a cabin attendant costs. So it's more then the "fixed" costs...replacing the bowl of Blue M&M's after every trip...
True
Wanted to buy one but I guess I need more money as at the moment I money only to pay insurance for 1 day.
Curious how much revenue someone who rents a jet out like this could get. Are there thin margins, or is it a profitable business?
Bottom end.. F dat! I"m flying business and 1st class
There's nothing like 1st class
So basically when you enter the big boy league whatever you buy you’re going to spend about 10% (+/- 5%) a year to keep and operate it
I love my G700
OK! Let me check my debit card account, I might be able to purchase one of the napkins on that plane!
A lot cheaper than I expected.
Exactly. Cheaper is relative :)
So the G500 is in the same range ?
The clock in the cabin is rumoured to tick a bit loud, so I think I pass this time.
🤣🤣
After watching this video i don't see why could'nt everyone own their own G700🤣🤣
😉🤣🤣
i wonder why so expensive, did it have parachutes, or rocket , there should add parachutes for all passengers,
It's probably the #1 private jet out there
this video is like a student making his schoolwork for a teacher
Price?
Just a very very nice aircraft..
Indeed!
@@businessplanet6998 Thank you for sharing.
If it benefits your business it’s worth it. The analysis to acquire Is not this snobby escapade of a video. It’s a jet, it gets you where you must be.
Not because I would prefer to fly this way. It’s necessary. For example, Hollywood actors do not NEED a jet, they buy one because they don’t know any better.
We got this 737 Rockin like a G6 💯🫡🔥🔥🔥 I only fly in the back 1st class is overrated 😂
Not too bad. Might get it later 😂
Well, there ya go 👍 If you choose this aircraft, what's a couple million dollars a year ? Pretty reasonable I'd say 👍🇺🇸
What is that long pole sticking out in front for????
That is actually a test flight and those in the front are sensors.
@@Arun43647 Thank you.
So pretty much 2 million per year let’s say if someone would live 70 years and would like to fly the rest of his life that means he would spend 2 million a year for flying how ever put into perspective that plane company makes new planes all the time therefore between those 70 years the owner would obviously upgrade his private yet and that will be extra cost so to really have a private jet and have it the newest one every 4 or 6 years I would say that besides the 2 million cost on a yearly basis the owner would be likely to spend 80,000000 US dollars every 5 to 6 years ok a new model , he or she could sell the previous one but still there is money that would be spent on the new models
Well said!
@@gabrielapintor7647 ?
for most it was major tax considerations--taking 7 million a year in tax write off means use it for free-
Yes, chartering looks like a better option should one like to fly in luxury.
@@dannygeouge8459 most consider about 200 hours to be the consideration point between chartering and owning.
Hey wait, what about the cost of food and beverages
And the high end escort disguised as a stewardess?!
Always better to just charter instead of own unless you’re a multiple billionaire who routinely travels on a jet.
Guess we'll stickwith our cessna
“Wichita national airport “
Dwight D. Eisenhower international airport. 🙂
Esse valor seria os gastos por ano meu amigo ?
sim
We’re going to have our management company charter ours out on occasions to help out with the overall costs. Maybe even cut them in half. I’m working right now on purchasing my second G700. I gave up on the first because it was too far out of reach.
me to 🤣
I'll buy the plane and get a TTR on it and fly it by myself. Then use Kerosene instead of Jet fuel problem solved. 😂
You do your thing lol
DENGAN INI KALIAN BANGGA?
DITANGANKU. MEWAH YG KALIAN MAKSUD HANYALAH TITIK TERENDAH PERJUANGANKU,,
so if i'm a billionaire pilot with a pilot pal that owns his own airport, hangers, aircraft management company i'm quids in. I'll have 2 please haha
The sky is the limit🤣
People who buy these things ain't really looking at cost. Privacy is also a big component of buying a private jet, a yacht etc. These have no monetary value. And ego of course!
You gave a figure for variable cost but you never said how many hours it's based on. Was it per hour? 1 hour per year? 50? 500?
He has no clue whatsoever
Damn i build some of these and will never have one
Even if I could afford one which I can’t I wouldn’t
tell that to an oil magnat which makes some millions in a day that 4.000 usd /hour is huge.
Wow that's a lot of money to keep rolling in
Well, economy doing just fine for me at moment