The Aviation Auction
SIA Group Aviation have been researching and planning The Aviation Auction for a few years, SIA Group are experienced licensed Auctioneers with over 20 years history, we have sold a variety of high profile assets from the Lotus Formula One team to holding world record Art sales. Group Chairman Simon Morgan sits on the board of NAVA (National Association of Valuers and Auctioneers). SIA Group have the knowledge and expertise to ensure that The Aviation Auction will not just be a one off event, but a regular fixture in the aviation industry calendar.
The purpose of The Aviation Auction is to simplify the way upon which Aircraft, Parts and equipment are bought and sold. The Aviation Auction will allow buyer and seller a transparent and seamless way to make a purchase or sale. Through the auction process long winded negotiations over price and contracts are eliminated. The often tested and fraught relationship between buyer and seller is removed. Most importantly there are no hidden commissions and sales prices are transparent to all parties involved allowing aircraft and parts to be sold for their true value.
The Aviation Auction being held at Bicester Heritage in June 2014, is aimed at the General Aviation and Business Aviation markets, there will be a number of VIP and Utility Rotary Aircraft, Piston and Turbine Fixed Wing Planes along with Business Jets. The aim of the auction is to allow a global market access to aircraft they otherwise wouldn’t know were available.
View the Lots
Visit the online auction website below:
How It Works
Seller positions the Auction Lot at the Auction Venue prior to the 5th of June – This includes all log books and documents that belong to the aircraft.Seller has, prior to the Opening Event positioned with the auctioneer all documents required to pass title and de-register the aircraft – signed but undated.Seller has also prior to the Opening Event signed the Sellers terms and conditions of sale with the auctioneer.
Buyer is able to pre purchase inspect and test fly an Auction Lot from the 6th of June up until bidding closing on the 21st June.To be able to bid, Buyer will need to register with the Auction website. They will then be sent the Buyers terms and conditions for the item they are interested in bidding on to be signed. Buyer will also have to place a deposit of 10% of the estimated value of the Lot within the SIA Group Aviation – Nat West bank client account. When this information and deposit are received from the Buyer, they will be given access to bid on the Auction Website.If Buyer is not successful in his bid, the deposit will be returned to the Buyer.If successful with their bid the Buyer has 28 days from the time of the winning bid to complete the transaction and remove the lot from the Auction venue.
The Opening Event – 5th June 2014
The first dedicated aviation auction for the GA/Bizav market will be staged at Bicester Heritage (formerly RAF Bicester) on 5 June, 2014.
The Aviation Auction is conducted by SIA Group Aviation, with the opening event organized in partnership with MIU.
Although aviation auctions are common enough in the US, this is the first time such an auction, dedicated to aviation lots only, has been staged in the UK. Lots will be available for viewing and pre purchase inspection from 5-20 June, with bidding open from 12 June. Bidding closes on 21 June.
MIU Events have joined forces with the SIA Group, specialist auctioneers with over 20 years experience of asset valuation and disposal, to present a selection of lots covering aircraft, aircraft parts, aviation related memorabilia, art and photography. Interested parties will be able to view lots online and at Bicester Heritage from the 5 June – 20 June. The bidding process is accessed online through the SIA site and on the BidSpotter website.
The SIA Group provides a focused valuation, advisory and disposal service and has worked with many leading asset based lenders, banks, finance house’s and corporate recovery experts.
The opening event on the 5 June will consist of a programme of presentations, celebrity contributions, complimentary food and drink, entertainment and culminates in a live evening auction of selective lots.
For those considering buying or chartering an aircraft for the first time there will be a host of experts on hand to guide you through the maze of regulatory and practical issues when considering acquiring an aviation asset.
The auction is supported with an extensive advertising campaign in national and trade media. We will be adding lots to the SIA sites over the coming weeks.
The event is free to attend for accredited guests.
If you would like to speak to someone from SIA Group Aviation about The Aviation Auction, or if you are interested in selling your aircraft or aircraft parts, there is still time!
Please feel free to contact us to explain the process of entering your asset into The Aviation Auction.
Our contact details are as follows:
+44 (0) 1273 621 317