The Citation III, a midsize cabin business jet with a 2,054 nm range, was the first of Cessna’s model 650 series. It was designed for optimal speed, utilized light weight composites and smooth surfaces to cut down on drag, and featured an entirely new fuselage mated to a super-critical swept back wing and a T-Tail.
As of May 2018, 100% of the Citation III aircraft were purchased pre-owned by their current owners. 21.2% are for sale with more than half of those (64%) under an exclusive broker agreement. When for sale, the average time on the market is 493 days. Over the past 12 months, the Citation III has averaged 3 full retail transactions per month.
Cessna set out to build a private jet with impressive range and speed while keeping costs low and performance high, and thus the Citation III was created. The new model symbolized several milestones in the Citation program – it was Cessna’s entry into the high speed, medium corporate jet market, their first model to utilize Garrett (now Honeywell) and not P&W engines, and was a departure from the original structural design of all previous models. At the time of release the Citation III had the longest range and the fastest overall cruise speed of any midsized jet.