True value of Clive’s private jet revealed
THE “$40 million” private jet seized by liquidators from embattled businessman Clive Palmer is about to be sold, but its true value has revealed it as “the cheapest of its kind on the market in the world”.
The 14-passenger seat Global Express, bought secondhand by the mogul in 2012, had been rumoured to be worth $40 million.
But the Bulletin can confirm the plane is under contract negotiations for sale to an international buyer for about $6.95 million, having sat on the market for 20 months.
Liquidator FTI Consulting seized the plane from Palmer Aviation after the company fell into administration, and put the plane, the company’s sole asset, up for sale in April last year.
While initially moved from Brisbane to Sydney, it was later relocated to the US, where there is a bigger market for such luxury items.
Brisbane-based corporate aviation and charter management company Avcair owner Michael Cooke said he had recently undertaken a report into the international Global Express market.
“It was the cheapest Global Express on the market in the world. It is also the oldest,” he said. “A really good-pedigree aircraft, maintained well, with good equipment, they will not stay on the market too long.
“Anything taking this long to sell will have hairs on it.” Mr Palmer declined to comment.