Assent Auctions: Frequently Asked Questions
How many qualified bidders will be interested in/bid on my aircraft?
We have over 5,000+ registered aviation bidders through our partnerships already. However, we aim to bring specific buyers to your aircraft. The earlier you consign your aircraft; the more time Assent will have to market and engage with qualified buyers on your behalf. We cannot guarantee a bidding war, or even serious interest, but we can guarantee your aircraft will stand out as the most enticing aircraft to qualified buyers in the respective fleet. The marketing value we deliver will help sell your aircraft, possibly even prior to auction.
When is the latest I can sign up my aircraft for the auction?
Although well intentioned, that is the wrong question. The longer you wait, the less marketing exposure your aircraft will have. We will accept applications until one (1) week prior to auction.
What if bidding doesn’t reach my reserve or minimum bid?
No sweat. A good percentage of our consigned aircraft sell post-auction. Negotiation will continue off the auction block in an attempt to sell the aircraft.
Do you offer financing?
Yes we do. Please contact us for a simple application checklist: email@example.com, or call 817-888-8227.
Can I change my reserve number after application?
Yes. You can change or remove the reserve at any point before or during the auction. And, you have the option to reject any bid for any reason in a reserve auction.
Can I bring my aircraft with fresh maintenance or a fresh pre-purchase inspection to raise the perceived value an entice buyers?
Absolutely! We recommend it. Make sure you bring the work-scope and findings to the auction along with your logbooks.
Can I make a bid or offer prior to auction?
We encourage pre-bids, sealed bids, or formal offers on all auction aircraft prior to auction.
How will closing be handled?
All documentation will be sent to winning buyer and seller electronically immediately following the sale of the aircraft through our escrow partner, Aero-Space Reports. Paperwork will be prepared well in advance of the auction, minus the purchasing party and final sale price.
Do I need to arrange my own pilot(s) to fly the aircraft away?
Yes. However, we do offer arrangements for anything you need: delivery, staffing, financing, insurance, crew, et al…
Who has operational control and liability for the aircraft before, during and after the auction?
The seller retains operational control and liability for the aircraft before and during the auction. The winning buyer is legally recognized as the new owner immediately as the auctioneer says “sold” and the gavel falls, and therefore assumes aircraft control and liability for any loss.
Who is responsible to pay sales tax?
What if my plane has many overdue inspections or service bulletins?
If it can legally fly (with a ferry permit) to the auction, it can be sold. But all outstanding inspections, airworthiness directives, and service bulletins must be disclosed.
I have a broker representing my aircraft, should I part with them?
Absolutely NOT! Your broker will be extremely valuable before, during and after the auction. It is very likely that you will receive an offer on your aircraft prior to auction with Assent + your broker’s marketing efforts. At the auction, your broker will be managing your aircraft sale, answering buyer questions and increasing their interest.
Do I need a broker to buy an aircraft at auction?
Although it isn’t required, we think it is a great idea to not only have a broker, but a technician familiar with the aircraft in which you are interested. You will have ample time to conduct visual inspections, peruse electronic maintenance reports and do logbook research on site before buying.
I have absolutely no idea what my plane is worth. Can you help me gauge the value?
Of course! Email firstname.lastname@example.org or call us at 817-888-8227.
If I’m selling an aircraft at auction, but I’m also interested in bidding on other aircraft, do I need to register as a bidder?