02/22/2016 At 23:15 PST I had just stepped out of the house to get something from the car when the bright light caught my eye. It was moving very slow, 15 to 30 mph. Over the ocean about 8th of a mile off the Pismo Beach Pier. I had seen it before, so I called out to my neighbor to come out and look. He's some kind of expert on aircraft, and is a retired pilot. "I've seen it before", I told him. "About the same time, two or Three times a week". We watched it and listened intently for any engine noise that could identify it. We were startled to hear none, considering how low it was. With his little binoculars. He looked at the craft while I ran about 20 feet to grab my new Nikon 16X50 Binoculars. They were already focused when I first laid eyes on it over the Pier. The Pier is 2 miles north of my location. At first I thought I was out of focus, because all I could see was a super bright round sparkly orb. I checked my bino's very carefully and rest them on the rail of my deck to get a perfect still view. I drop to my knees to stabilize even more. It appeared to change shape and morph into three landing lights. My neighbor, Bobby, says, "What the hell is it?". I said it looked like a privet Jet. Then I saw the red and green, port and starboard flashing wing tip markers and had a good full stable view of the craft that looked like a privet jet. As we watched it fly directly over my domicile, we were both totally confounded at how an aircraft of such design could possibly remain airborne flying that slow, 25 to 30mph, and that low, about 800ft with out a sound. I suspect this sighting may be some kind new man made technology, only because of the regulation style marker lights. The landing lights on the leading edge of the wings had lit the fuselage which enabled me to see it was a dull battle ship gray color, With no visible ID markings. It could be a Military drone. But still a UFO.