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Jan 24 (Reuters) - Some U.S. business jet buyers are looking for new aircraft whose current owners are having trouble making payments ahead of delivery, in a possible sign of early cracks in what has been a soaring market up to now. From preowned planes selling more gradually to flattening business jet traffic, demand is beginning to moderate, aviation lawyers, brokers and analysts said. While defaults remain rare, those signs of uneven demand are drawing attention. One business jet executive said he has seen a few distressed planes and customers who are late on payments due to financial hardships, some of whom are from parts of Eastern Europe or Latin America where economic growth is expected to slow. "We're watching to see if it will level off as a soft landing versus something else," said the executive, who asked not to be identified. Investors will be watching for clues when Gulfstream-maker General Dynamics Corp (GD.N) and Cessna business jet maker Textron Inc (TXT.N) report earnings on Wednesday. Private jet makers have assured investors their billion-dollar backlogs and ongoing demand would cushion any blow from a possible recession. Planemakers rarely disclose cases of distressed planes, but argue they can easily resell unwanted models. "If, for any reason, the final sale of an aircraft does not occur, the sales team works to match the aircraft with a similar customer's mission, location and timeline," said Lannie O'Bannion, a senior vice president at Textron's aviation unit. Hunt for Planes During the COVID-19 pandemic, surging wealth, access to cheap cash, and demand from elite travelers fueled a sellers' market for business jets that left planemakers with swollen backlogs and long waits for certain models. But rising interest rates that have hiked borrowing costs and growing signs of a looming recession have led some buyers to delay purchases. With demand still strong for the moment, some eager buyers are hunting for distressed assets as a way to short-circuit the still-long wait for new planes, industry officials said. Some buyers also scrambled late last year to find distressed planes to qualify for favorable taxation rules. Brian Proctor, chief executive of aviation advisory and brokerage firm Mente Group, said he has two buyers that would look at a distressed new plane "even if it wasn't 100% perfect." Meanwhile, aviation attorney Stewart Lapayowker said he knew of a few buyers "waiting on the sidelines ready to jump into a delivery that's in default" given that some vulnerable customers were rethinking earlier orders. At the same time, the speed of sales has slowed, with preowned aircraft now taking weeks to sell instead of hours or days during late 2021, Proctor said. In another sign the market may be calming, inventory levels of listed preowned planes for sale grew more than 40% during the back half of 2022, said aviation analyst Brian Foley, citing data from industry specialist AMSTAT. Research consultancy WINGX said branded charter activity in North America fell 2% last year. WINGX sees 2023 flight activity falling from pandemic levels, but still ahead of 2019.

The Germans love putting a towel down in Mallorca. Of the roughly 5.7 million tourists from around the globe that made the trip to the sunny Balearic island in 2021, a whopping 2.12 million of them came from Germany. That means Germans accounted for almost 40 per cent of all tourism on the island in 2021 - more than double the number of Spaniards and more than triple the number of Brits. But now Germany's dominance of Mallorca's tourism market is reportedly under threat from a new party - the Americans - and the Germans are none too happy about it. German tabloid Bild this morning published an article entitled 'Are the Americans stealing our sun loungers on Mallorca?'. It complained that last year, America's United Airlines offered thrice weekly flights from Newark airport to Palma during the summer to gauge US demand for what is for Americans a far-flung destination. Almost every 214-seat flight was fully booked. 'Not Miami (Florida), not Cancun (Mexico), not Honolulu (Hawaii). Any self-respecting American will fly to Mallorca this summer!' Bild quipped. 'After the British, are Americans now stealing our deckchairs?' After the success of 2022, United Airlines is planning to increase the number of flights and will extend the season by two months. The airline's website now offers flights to Palma from New York, Chicago, Denver, Houston and San Francisco. Perhaps the Germans feel somewhat betrayed. Even after years of commitment to making Mallorca a de-facto tourist colony, their fidelity has not stopped the island's tourism bosses from expanding their own horizons. Last year Mallorca Magazin, a German-language outlet for the island, reported that tourism foundations and hotel leaders had devised targeted marketing campaigns designed to reel in Americans tempted to explore new European shores. 'Demand in the US has exceeded all of our expectations,' a spokesman for tourism promoter Palma 365 told the publication. He added that the organisation plans to boost advertising efforts moving forward 'in order to attract and consolidate this new foreign market, which has great growth potential.' Meanwhile Javier Vich, the head of hotel association Asphama, said his properties were full of reservations made by American holidaymakers well into September 2022. Now in 2023, Germany's beloved Balearic island graced the top of acclaimed travel journalist Larry Olmsted's list of Top 5 Hot Travel Destinations for Forbes, which is sure to send sun-seeking Americans into a tizzy. 'Mallorca has long been uber-popular with Europeans... yet for some reason, the island paradise in the Mediterranean has stubbornly remained off the radar of Americans until recently,' Olmsted wrote. 'Mallorca is hot, hot, hot, and deservedly so.' With such a ringing endorsement, many a German holidaymaker may well arrive in Mallorca later this year to find their name has been chiselled off their favourite sun lounger.

LA Art Show - February 15-19 2023 LA CONVENTION CENTER - WEST HALL American visual artist Dan Dailey has simultaneously produced sculpture and functional art with an emphasis on lighting since 1970. Made primarily from glass and metal, every piece of work begins with a drawing. Dailey's drawings and the objects they inspire depict human character and the world we inhabit, with many familiar forms rendered iconic. His myriad series explore extraordinary concepts with a broad range of themes and styles. These attributes and his forty years of achievement and recognition have made Dan Dailey a prominent artist in the history of glass, and unique among American artists. https://www.dandailey.com/

Here’s to the new year 2023 A brand-new year… A gift we just opened.. With a clean slate on which to write our newest hopes and dreams. To our friends, loved ones, and associates May we take the time to let them know How much it means to us To have them in our lives. To our dreams… May we never stop believing in them And taking the actions that will make them a reality. To new beginnings… Let us start fresh, right now, To make this the very best year ever. And lastly, All of life’s best rewards, deepest and finest feelings, greatest satisfactions, Come from people… People like you.

The Fisker Ocean is an exciting new all-electric SUV from a startup California automaker that’s reinventing mobility for the 21st century. Created to be superbly designed, innovative, and sustainable, the Fisker Ocean is the first vehicle from a company co-founded by CEO Henrik Fisker, a noted designer and entrepreneur. “We developed the Fisker Ocean to redefine what’s possible for an affordable EV, emphasizing the use of recycled materials wherever possible,” Henrik Fisker says. “This SUV has numerous unique features, including a 17.1-inch rotating central screen and a Solar Roof that can deliver 2,000 miles of additional, emission-free range every year, as well as California mode, which opens the vehicle’s windows and roof simultaneously to offer a convertible-like experience.”

Today we are delighted to share with you two magnificent Rolex watches that feature the highly prized so-called Stelline dials that will be included in our upcoming Exclusive Timepieces auction, this October 22nd and 23rd October at Le Meridien Beach Plaza Hotel here in Monaco. We hope to see you there!

On October 13, bidding will open for one of the grander properties in the upscale hamlet of La Cañada Flintridge. Known as the Overell Estate, the luxurious residence was constructed in 1929, at a then-astronomical cost of $80,000, for prosperous furniture dealer Walter Overell and his society-maven wife, Beulah. A blend of Spanish Colonial Revival and Art Deco styles, it was designed in a collaborative effort by architects L.G. Scherer and J. Cyril Bennett. Based in Hollywood, Scherer’s other notable designs included a Spanish-style mansion in Little Holmby for Marlene Dietrich, and the Hancock Park Tudor owned in the 80s by Francis Ford Coppola, while Bennett’s projects included Pasadena’s Civic Auditorium and Raymond Theater. Sadly, the Overells’ time in their lavish hilltop home ended up being cut short: in 1947, the couple were on a sailing excursion off the coast of Newport Beach when their yacht was blown to bits in a dynamite explosion. Circumstantial evidence pointed to a murder plot perpetrated by the Overell’s teenage daughter, Beulah-Louise, and her 21-year-old boyfriend, of whom the couple strongly disapproved. After a seven-month-long nationally publicized trial, however, the young couple were acquitted. But with her inheritance drained by legal fees, Beulah-Louise was forced to liquidate her assets, and the family residence made its first trip to the auction block. The winning bid? A mere $56,000. In the late 90s, the property was purchased for $1.8 million by Pasadena mutual funds manager Lauro Guerra, who embarked on a five-year revamp guided by designer John Everage that doubled the home’s footprint. Added in the expansion were a massive bedroom suite, a pub, a gym, a sauna, a deluxe home cinema, and a one-bedroom guest apartment with private entrance. Other updates include a restaurant-grade kitchen, Savant home automation, Lutron lighting, and solar power systems. Even after all the updates, the 13,259-square-foot mansion still boasts a wealth of extravagant period details, including dramatic cast concrete exterior bas-reliefs, stained-magnesite and hardwood flooring, stepped-tray ceilings, hand-stenciled beams, fanciful murals, dazzling Deco and Spanish tile, and elaborate fireplace surrounds, stained glass, and wrought-ironwork. Gracing the rarefied 1.18-acre grounds are an aqueduct, several tiled fountains, a koi pond, an arrow-shaped pool and spa, mature trees, a lanai, and multiple terraced patios. The no-reserve auction is being conducted by Sotheby’s Concierge Auctions from October 13 through 18. Gina Olivares of Deasy Penner Podley is the listing agent.

Summer may be over, but Kim Kardashian is already laying the groundwork for a fancy seaside vacation next year — and many more summers to come, it would seem. Property records show everyone’s favorite reality TV star-turned-billionaire shapewear mogul and aspiring lawyer has paid $70.4 million for an oceanfront estate on the Encinal Bluffs, one of Malibu’s most coveted neighborhood pockets. The off-market deal closed last week. The deal is by far the priciest residential transfer in Malibu this year, and is also 2022’s fourth-priciest California home sale, behind only the $75 million Drake paid for his new home, a $120 million Holmby Hills deal and Bel Air’s infamous “The One” megamansion, which sold at auction for $126 million. Built in 1944 but extensively remodeled in the 1990s and again in 2016, the Mediterranean villa-style house was once the centerpiece of a 6-acre estate long owned by biotech entrepreneur Walter de Logi, who died in 2014. The following year, his widow Lynda sold the big property for more than $50 million to her next-door neighbors, Cindy Crawford and longtime husband Rande Gerber. The 6-acre estate was subsequently split into two parcels: one of them a 2.8-acre, mostly vacant lot and the other a 3.2-acre spread containing the main house. Crawford kept the smaller parcel for herself but sold the 3.2-acre one in 2018 for $45 million to Adam Weiss, a retired hedge fund manager from California’s Silicon Valley. It was Weiss who sold the property to Kardashian, after re-landscaping the premises and living there for a few years. After listing it in March with a $99.5 million price tag, the ask was slashed to about $90 million before Kardashian came calling with a significantly lower offer. Weiss, 55, is moving to the Hawaiian island of Maui, where last year he and wife Barret Swatek paid $45 million for an oceanfront estate not far from Jeff Bezos’ vacation home. Kardashian, 41, continues to mainly reside at her vast estate in Hidden Hills. She also has two “spare” Hidden Hills homes, one of which recently popped up for sale, and still owns a luxury condo in Calabasas and a vacant lot in La Quinta’s prestigious Madison Club. And for those curious, Kardashian’s new estate is about 14 miles up the coast from Kanye West’s $57 million Brutalist spread, so not exactly sugar-borrowing distance. Besides Crawford, some of Kardashian’s nearest new Malibu neighbors include retired TV super-producer Marcy Carsey, Leo DiCaprio, Neil Diamond and Michael Eisner. Article Courtesy of Dirt.com

The team has recently been visiting luxury off market assets in France, coming to MX very soon. We are working hard all through out the year to bring the very best the world has to offer. Our global partners Trust Millionaires Xchange to sell their luxury assets to the discerning clients worldwide. Visit www.millionairesxchange.com regularly to see all the new and exclusive offers.