quote:

Originally posted by tradewinds:

quote:

The value of the dollar is going no where but down

Actually it has gone up quite a bit agains most foreign currency, especially the Rand. 7.3 to 1 in June when I was in Namibia now 9.2 to 1.

Seems like investors think America Sucks but the rest of the world Sucks more! Quite a few foreign markets have been shut down because they where falling too fast.

Well the exchange rate is really hurting us at the moment, we are in the process of buying a much needed King Air 200, the price is 2.3 million USD, when we went into negotiations the exchange rate was sitting pretty at R7.50 to on USD. Yesterday it spiked at R9.50 to the USD. That is an extra 2 mill... seems like we will have to do without it.

quote:

Originally posted by .458Aubs:

quote:

Originally posted by tradewinds:

quote:

The value of the dollar is going no where but down

Actually it has gone up quite a bit agains most foreign currency, especially the Rand. 7.3 to 1 in June when I was in Namibia now 9.2 to 1.

Seems like investors think America Sucks but the rest of the world Sucks more! Quite a few foreign markets have been shut down because they where falling too fast.

Well the exchange rate is really hurting us at the moment, we are in the process of buying a much needed King Air 200, the price is 2.3 million USD, when we went into negotiations the exchange rate was sitting pretty at R7.50 to on USD. Yesterday it spiked at R9.50 to the USD. That is an extra 2 mill... seems like we will have to do without it.

I know I Broker Aircraft and have some Foreign Companies holding back for now. Just sent a 2007 B200 to Brazil and they lost 60% in the last couple of weeks and 50% in Australia.

I was at Cessna Aircraft at a spec session for a new CJ3 2009 delivery. All the customer where from overseas mostly Europe. Cessna told me 80% of production is leaving the US this year.

I can tell you .458Aubs you can almost save what you lost on the currency exchange on the discounted prices, because if you are paying anywhere near the asking price you are paying too much.

Things change quite a bit back and forth with exchange rate, the US Govt. has been working to keep ares dollar week so are eexoprts would stay up and to make are products more attractive to the rest of the world. I think that no longer matters as much since the rest of the world is following the US market down the toilet.

I remember when it was 12-1 I bought a Mirage and a Meridian from PLACO in Joburg for next to nothing, and hunted for a week shot Eland, Kudu, Impala and a few others for $4k US.

Actually it's an extra 4.6MM Rand. I may be looking at SA property again if this keeps up. It ain't that the dollar is strong, we're just less weak than the Euro, etc.

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Originally posted by Gatogordo:
Actually it's an extra 4.6MM Rand. I may be looking at SA property again if this keeps up. It ain't that the dollar is strong, we're just less weak than the Euro, etc.

You are correct, 4.6 is the right figure. I cant do this typing and talking on the phone stuff.... not a multi tasker... lol

Tradewinds, you are correct. We have pulled out of the deal and will sit in the corner waiting for the banks to start reposesing aircraft and will then put in an offer.

Tx guys

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We have pulled out of the deal and will sit in the corner waiting for the banks to start reposesing aircraft and will then put in an offer

I usually do not wait for Banks, The best deals I find is a owner of a aircraft taking delivery of a new aircraft. I just purchased a 2004 525
CJ1 for a US customer for 1.0 million under market. He was taking delivery of his new aircraft and needed to write a check for $10 million. We had cash and closed in 24 hours after pre buy.

quote:

Originally posted by tradewinds:

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We have pulled out of the deal and will sit in the corner waiting for the banks to start reposesing aircraft and will then put in an offer

I usually do not wait for Banks, The best deals I find is a owner of a aircraft taking delivery of a new aircraft. I just purchased a 2004 525
CJ1 for a US customer for 1.0 million under market. He was taking delivery of his new aircraft and needed to write a check for $10 million. We had cash and closed in 24 hours after pre buy.

I have definately got to speak to you in person, I will be in Dallas and Reno in Jan. Fancy a drink on me - I will have to pick your mind tho

quote:

Originally posted by .458Aubs:

quote:

Originally posted by tradewinds:

quote:

We have pulled out of the deal and will sit in the corner waiting for the banks to start reposesing aircraft and will then put in an offer

I usually do not wait for Banks, The best deals I find is a owner of a aircraft taking delivery of a new aircraft. I just purchased a 2004 525
CJ1 for a US customer for 1.0 million under market. He was taking delivery of his new aircraft and needed to write a check for $10 million. We had cash and closed in 24 hours after pre buy.

I have definately got to speak to you in person, I will be in Dallas and Reno in Jan. Fancy a drink on me - I will have to pick your mind tho

I am not sure, I may go to Dallas. I have a customer from South America, we will be taking delivery of his new Jet from Cessna. I will have to go with him for acceptance. It is supposed to be at the end of January.

quote:

Originally posted by Terry Blauwkamp:
I'm going anyway.

What my 401K does, it does, I never figured I'd have enough to retire anyway, so I might as well spend what I have.

I am fortunte enough to owe nothing, live in an old paid for house, and drive an old paid for car, so what cash I have, I spend on hunting.

That was precisely my thoughts when I booked my buff hunt in '06, after doing a PG hunt in RSA the year before.

Fortunately, some countries still have a lot of our money an are buying airplanes, so one or two deals will make my year.

I'm going to TZ next year as a guest of a friend, if it comes off. If it doesn't, I think I'll go, anyway. Getting older and the time is now.
At my age, I'll be staying out of the market, although I've been in it for years, but did not get caught in this mess. When the Dow hit 14,000, anyone should have known it was time to leave.