Mr Formula One Ecclestone sells his new G650

[bangna]

Bernie sells his G650 to Thai Businessman for $72 million (http://www.bizjetblogger.com/2013/09/09/bernie-sells-his-g650-to-thai-businessman-for-72-million/)

It is a 8 pax aircraft. The aft section is a bedroom with big double bed :D:rolleyes:

[dc9-32]

Maybe he should have researched the performance before buying it :sad:

[CaptainProp]

Although unconfirmed, it’s believed Bernie’s decision to offload the Gulfstream stems from the G650′s inability to depart fully loaded from airports close to the locations where he owns homes.

Ah, that's what happens when you make sure you are well advised on your new aircraft acquisition! :E

This industry is full of people with money and sales people and brokers that don't care if they sell you the wrong product, all they care about is that they sell. Too bad people never seem to learn from other peoples mistakes either.

CP

[bangna]

8 pax for 72M :D :D :D why have a G650? :ugh:
Ecclestone made $$$$$

[bangna]

Too bad people never seem to learn from other peoples mistakes either.
so right. equals 9M a pax seat :rolleyes:
Anyone know pilot salary for G650?

[doubleu-anker]

Surely he must have pilots etc., on his payroll that could have advised him what exactly he was buying.

[SpringHeeledJack]

Might he have made a tidy profit reselling a much desired status aircraft with a long waiting list ? The purchaser has jumped the line and will be one of the few in asia with bragging rights and it's cost him a premium to do so. I'd be very suprised if BE was in the dark as to the capabilities/restrictions of the G650, he's a canny fellow and knows how to turn a penny twice.

[Yellow & Blue Baron]

So what would have been the right aircraft than can take the passengers he wants with the fuel he needs to the places he wants to go from the presumably short runways he uses?

[Doodlebug]

Obviously we'd need details about the runways and missions that the 650 allegedly can't cope with, but I struggle to believe that it cannot compete with, or better, the GLEX, which will happily hoick out of KTEBs shorter runway and cross the pond into Eastern Europe, for example.

The man simply saw an opportunity to make top dollar, methinks.

[Kelly Hopper]

He bought 2! One to sell, one to keep?

[Photoburst]

http://farm4.staticflickr.com/3723/9334371360_c62142a51a_b.jpg
G650 G-OMRE "Go Mr E"

http://farm4.staticflickr.com/3665/9334370992_8e7b035582_b.jpg
The aircraft is named "Mystery"

[FCS_TEST]

Well I believe that one couldnt make it at Gstaad ( not like his 7X) !:ok:

[Yellow & Blue Baron]

G650 N880MD is currently up for sale (http://www.controller.com/listingsdetail/aircraft-for-sale/GULFSTREAM-G650/2013-GULFSTREAM-G650/1291893.htm), apparently UK based also.

http://gulfstreams.zenfolio.com/img/s8/v76/p1419589756-3.jpg

[PURPLE PITOT]

As a GLEX driver, all i can say is the 650 is prettier than the 550:ok:

[silverknapper]

Mr baron
The answer to your question is in the background of the bottom picture in post 11. Which he owns.

He did not buy this in error. Quite comical that people think he did. But the decent profit on list is a big clue!!!

[Yellow & Blue Baron]

silverknapper thank you.

Can you explain the profit on list if you dont mind.

I thought that as soon as an aircraft is used it devalues in price, at least to some degree and as I can see there are is more than one G650 for sale at the moment.

So are there two G650's involved, if not then why is he selling?

[tuna hp]

1: If he had an early delivery slot, he actually could have made money on this transaction. The original price on the green plane was I believe $58.5M or $59.5M but has since gone to over $70M in response to the demand and how far ahead available delivery slots are.

2: This is an early example in the production run, planes are always overweight early in the production run and improve over time. Maybe he was well informed about the marketed capabilities of the G650 but over-optimistic about what they'd be able to achieve by the time his delivery spot was reached. Maybe he wants to wait for a later model that will better conform to the marketed specs.

3: Shouldn't the G650, at its marketed specs, be able to get out with more range than any 7X or F900? 7000nm from a 5,900' field vs I believe ~5700nm from a 5600' field for the 7X. I don't see how there's any plane available that could leave any airfield with more range and passengers than the G650 as it is marketed.

[Trim Stab]

Bernie is probably going to jail in the near future, and may also face substantial law suits. He and his family have been selling assets in countries that have legal systems that might be unfavourable to them, eg UK.

[Yellow & Blue Baron]

tuna hp thank you for this explanation.

I thought when you ordered a new aircraft you pay a deposit and then the balance on completion. You are saying that the final sale price is confirmed when the buyer pays his deposit I guess and in which case I understand how he makes a profit if the company increases the price.

Why are planes made early in production heavier?

Trim Stab, what reason will this man be going to jail for and will it affect F1 racing or is there somebody else running it?

[Tray Surfer]

Why would you have the reg up the vertical like that? Looks horrible...

[Tray Surfer]

In relation to Yellow & Blue Baron post about the other G650 for sale on Controller... Just read the details and it mentions "Crest Rest" configuration... I have had a look about and can't see what that means... What is "Crest Rest" on the GS aircraft?

[fleigle]

It probably was meant to say "Crew Rest"
f

[GrandPrix]

Why would a leprechaun need an aircraft?

[tuna hp]

@Yellow&BlueBaron

You confirm the price when you sign your contract.

Planes are heavier earlier in their production for the same reasons everything else is, I guess. They spent over a billion dollars designing and developing it before they sold the first unit. It combines thousands of separate systems and components, some they build themselves, some supplied by third party manufacturers, some they are designing from scratch, some come from 3rd party suppliers with defects or bugs. There are bound to be problems, and with airplanes where weight is such a factor and where, out of an MTOW 100,000 lb plane, a few hundreds pounds difference can significantly impact performance, weight is bound to be one of those problems.

Its the same with software: a complicated software platform might spend months in the Quality Assurance bug testing phase and still launch with tons of bugs that only get solved in the months and years after release. Do you have an iPhone? Notice how every once in a while it has to download an iOS update? They typically only add features once a year when they release the new iOS version, all those other updates are bug fixes. Broadway shows start in "previews" now for a few weeks while the actors and crew perfect the production in front of an audience. Sometimes restaurants have practice periods before their "official opening".

[bangna]

if you buy two G650 and sell one then I think you keep the best one? I think so. makes sense if OMRE is heavy and a early build with lots mods. This is a good read and the new owner pilot is not the smart adviser. only in Thailand :*.
Ecclestone is smart and made money :D of 7 million profit.
how much a G650 pilot get paid? No pilots in Thailand with rating for these aircraft.

[FrankR]

We could ask someone who works there, but if memory serves from my last 650 factory tour, this "weight problem" thing is not an issue with the 650.

Does anyone have any "facts" in this case?

FR

[Teldorserious]

It boggles the level of incompetence and stupidity to get into that level aircraft with out a thorough vetting as to what it's like to own and fly one...but then again, in aviation, as in other things, it's not always the smart that float to the top, but the pals and buddies - more tribalism at work, that leads to a nepotistic type of stupidity that makes itself known in the highest ranks.

Ofcourse being under indictment might have something to do with this...better to sell an asset and move the money, then have a sitting target for someone to impound and fly off.

[bangna]

It boggles the level of incompetence and stupidity to get into that level aircraft with out a thorough vetting as to what it's like to own and fly one...but then again, in aviation, as in other things, it's not always the smart that float to the top, but the pals and buddies - more tribalism at work, that leads to a nepotistic type of stupidity that makes itself known in the highest ranks.

agree!!! I knew the Thai owner manager who worked at TG to 2005. he was a TG FO and was kicked out for bad things he did in Japan :yuk::yuk::yuk::yuk:. shame, sick, bad :{! he now offer TG pilot friends to crew for him. he not know anything about aircraft but I hear talks a lot acting big about his boss money and him manager :oh:

[Grenville Fortescue]

Why would you have the reg up the vertical like that? Looks horrible...

For the same reason you would call an aircraft "Mystery" :yuk:

I revel in seeing those registrations which have been applied as discreetly as possible using shades of paint which offer subtle contrast to the background colour and which I always find wonderfully cheeky as well as elegant.

It probably was meant to say "Crew Rest"

Highly amusing.

Why would a leprechaun need an aircraft?

Quite. I thought they traveled via rainbow! Still waiting to hear from Trim Stab (as per YBB's question) as to why Bernie's off to the gaol!

[Cahlibahn]

Financial shenanigans (hotly denied) concerned with CVC's purchase of controlling stake to F1 rights

The bribery allegations have been hanging over Ecclestone's head since the jailing, for eight and a half years last year, of Gerhard Gribkowsky, the BayernLB bank executive who was found guilty of taking $44m (£29m) in bribes and failing to pay tax on the money.

Gribkowsky said he received the money from Ecclestone in 2006 and 2007 in relation to the sale of F1 rights to CVC.

Ecclestone, who has repeatedly denied any wrongdoing, said he paid the money because Gribkowsky had threatened to blackmail him.

[x933]

I'd go for he's making a pretty penny off it - The Falcon 7X will do most of the F1 destinations without a stop and (without checking the calendar) I don't think there's many that the G650 can do that the F7X can't.

What I would be interested to know is if this aircraft was VAT-Paid (Presuming yes as it was registered into the UK), and if so at what rate and how much the "VAT PAID" status made the sale more attractive.

[Black 'n Yellar]

I heard the rumour a while back that Bernie only bought the 650 as he had to give his ex-wife the 550 as a part of the divorce settlement!

[bangna]

I heard the rumour a while back that Bernie only bought the 650 as he had to give his ex-wife the 550 as a part of the divorce settlement!

looking at G650 aft bedroom I not think his ex wife would fit in the bed. maybe thats why he gave G550 to her. :zzz:

[LGW Vulture]

I think you'll find Slavica never flew the G550 much and that is why it was sold. She preferred BA 1st Class - is the rumour! :uhoh:

[Dak Man]

Maybe he's ordered a GVII.

[x933]

Oh, and whoever said writing the registration up the fin looked crap, they're right - and it's the second time he's made this mistake:

http://img.planespotters.net/photo/291000/original/N999BE-Formula-One-Management-Dassault-Falcon-7X_PlanespottersNet_291930.jpg

[densityaltitude]

Now try and crew it................? Any G650 typed contractors could make a killing.

[SWBKCB]

Oh, and whoever said writing the registration up the fin looked crap, they're right - and it's the second time he's made this mistake

It's at least the third - the F2000 he had before the 7X was the same. Suppose when you've got the money...

[FrankR]

In my opinion, it's like when a super model wears a white tee and worn jeans and canvas trainers. ... It still looks spectacular.

FR

[bangna]

Now try and crew it................? Any G650 typed contractors could make a killing.
owner agent offer TG pilots THB 400,000+ per month less commission :ugh:. no G series typed pilots in Thailand I think :rolleyes: so lot of training needed and take long time in America
Where are sims for this aircraft as so new?

[envoy]

Indeed. Us beggars can't be choosers... always happy if we can just get inside and take them to heaven and back;)

[Dawdler]

Oh, and whoever said writing the registration up the fin looked crap, they're right - and it's the second time he's made this mistake:

Possibly for subtlety, Not everyone want to be immediately indentified when they arrive somewhere. However, don't our US friends call them "Tail Numbers" anyway.

I'm getting my coat........

[G-ARZG]

Makes it easier to read when he climbs past you !

[boeing_eng]

Possibly for subtlety, Not everyone want to be immediately indentified when they arrive somewhere. However, don't our US friends call them "Tail Numbers" anyway.

I don't think BE is too worried about being identified considering all his aircraft use the call-sign "Formula1" :}

[Gulfstreamaviator]

Was this one of his too....

Subtle too...

glf