PRA Aviation, LLC, borrowed $3 million from Center Capital Corp. to buy a Gates Learjet 55B. Center perfected a security interest in the plane. Later, PRA defaulted on the loan, and Center obtained possession of the jet. The jet’s value was estimated at $1.45 million based on the market, design, and mechanical condition of similar aircraft. The jet was marketed in trade publications, on the Internet, and by direct advertising to select customers for $1.6 million. There were three offers. Center sold the jet to the highest bidder for $1.3 million. Was the sale commercially reasonable? Explain. [Center Capital Corp. v. PRA Aviation, LLC, __F.Supp.2d __ (E.D.Pa. 2011)]
