To combat the grueling travel schedule, do many dealers use fractional ownership jets?

Longacre

I read some other posts about the grueling travel schedules of dealers, literally not knowing which city you are in when you wake up in the morning, working 8+ hour days for several days in a row, etc. A lot of highly successful business people sometimes do a calculation where they figure what their time is worth (as well as the wear and tear on their bodies with commercial travel), and determine that it makes economic sense to buy a fractional jet ownership interest, rather than using a commerical airline. This seems to make sense, in that a professional is probably better rested when he arrives at his destination in order to do business, and the flexibility of having your own jet at your disposal is second to none. Just out of curiosity, does anyone know whether the major coin dealers travel by private jet, rather than schlepping through an airport, bag and baggage, like a commoner? I would assume many dealers do, but I just don't know how widespread the practice is.

Julian

Private jets were used back in the 80's, but I don't think that anyone is utilizing them now.

DHeath

I charter.

Edited to add - not a coin dealer, but a dealer none the less.

Michigan

Private jets are becoming more popular for many lines of business. They don't come cheap of course.

Some companies don't want to fly according to airlines schedules or deal with the security lines so
they buy their own small private jets.

It is a trend that does not make the traditional airlines happy or airports either because of having to deal
with more planes and less capacity to land and park them.

relayer

Yep - everybody makes a minimum of $200,000 and they all fly around in their own shared personal jets

WTCG

I have considered fractional jet ownership, and the costs are much higher than flying on scheduled commercial air service.

One large volume dealer considered purchasing a jet last year, and according to him the costs of a private jet were going to be much higher versus flying the company personnel on commercial service.

DHeath

Manheim PA is a 7 hour drive for me, and commercial service to Lancaster consists of one regional connector per day. Getting to the highline (automobile) auction becomes a two work day event if I drive or travel commercial. I usually split a charter with a few buddies, and it costs around $300 each to fly in a pressurized King. It takes 1 hour and 15 minutes travel time, and I leave home and return by 6 the same day. No one screens my bags, and there are no lines. Same thing when I go to Ocala FL, or Atlanta, although Atlanta is much easier to get decent commercial service to and from.

keoj

The lowest based price that you'll see is roughly $2500/hour for private small jet service. This is much less than fractional ownership. Apparently coin margins are not as razor thin as everyone talks about. I know several high net worth individuals and others that use jets for transportation. It takes VERY serious money to own a fractional share.

JadeRareCoin

MadMarty utilizes a fractional ownership hot air balloon, so the rumor goes. I get to and from shows with my fractionally owned 1998 Ford Taurus.

cheezhed

<< <i>I read some other posts about the grueling travel schedules of dealers, working 8+ hour days for several days in a row... >>



You mean 8 hours in one day??

Sometimes even several days in a row???

How barbaric.

Coinosaurus

I know the president of a $100M company who decided fractional ownership wasn't worth it - and this guy was maybe 20% travel, too.

It's a safe bet that the Heritage principals use private service from time to time.

RBinTex

TwoSides2aCoin

you guys'll recognize me, I'll be showin' up with a grocery cart.