Assent Auctions: Frequently Asked Questions
How do I bid on an aircraft?
Click the “Register to Bid” button anywhere on our website. Then click “Sign Up” under the Current Auctions page. You will register with your information, accept Nextlot and Assent Aeronautics Terms & Conditions. We also highly recommend you submit a Sealed Bid Form prior to auction. You can submit a sealed bid, submit a Formal LOI, place a pre-bid (if applicable), or bid live during the auction.
How do I consign my aircraft?
Click here to contact our sales team, or click “Consign my Aircraft” button on anywhere on our website. We will send you an Aircraft Description Form and a Consignment Agreement for our next auction based upon your aircraft type. You will execute these documents and send maintenance reports, photographs, specifications and other important information you have on file. Then sit back and watch our marketing go to work!
Do I need to physically reposition my aircraft to an auction location?
We highly encourage it, but it is not necessary.
When is the deadline to consign?
Our deadline to consign is twenty (21) days prior to auction. We must have a signed Consignment Agreement and Aircraft Description Form executed or we will move your aircraft to our following monthly auction. Exemptions can be made if Assent believes it is best for the client to consign an aircraft after the deadline. Typically, we like to have at least a month to market to bidders, setup showings, conduct visual inspections and logbook reviews.
Do you need to be qualified to bid?
Yes. You must prove that you are an owner/operator
of an aircraft or multiple aircraft. If not, you must provide a letter of guarantee from your bank, a demand letter of credit, or a verified deposit in escrow with Aero Space Reports.
What if I want to do a pre-purchase inspection on a consigned aircraft?
All consigned aircraft at Assent are available for qualified bidders/buyers for visual inspections and logbook reviews. Any additional work-scope (i.e.- engine borescopes, test flight) will need to be approved by the seller.
If I am the winning bidder, can I do an inspection after the auction?
No. All sales are final at auction. You must do your due diligence prior to the auction. Unless we announce the seller has decided to allow for a post-purchase inspection with an escrow holdback, there will be no inspections after the auction.
Is there a Buyer’s Premium for consignments?
Yes, all consignments have a designated buyer’s premium whether piston or turbine.
Can I make an offer prior to the auction?
Yes. You can make an offer prior to auction subject to the terms and conditions you desire. However, aircraft will sell for the best price on the auction block. If you want to purchase an aircraft prior to auction, you will need to submit an acceptable offer with a non-refundable deposit. Please chat with our sales team for details.
How many qualified bidders will be interested in/bid on my aircraft?
Our live auction broadcast viewership consists of around 26,000 aviation specific attendees per auction. We have over 5,000+ registered aviation bidders with our partners, and generate close to 100,000,000 marketing impressions per auction. We don’t stop there: We bring bidders to your aircraft by strategically cold calling aircraft owners with similar type/natural upgrade aircraft. 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. Our marketing statistically generates at least 10x the amount of buyer traffic to listings, and sells aircraft 10x as fast as the open market.
What if bidding doesn’t reach my reserve or minimum bid?
No sweat. A good percentage of our consigned aircraft sell post-auction in our Vectors to Final program where negotiations 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: jetsales@assentaero.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 and entice buyers?
Absolutely! We recommend it. Make sure you bring the work-scope and findings to the auction along with your logbooks.
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…
What if my plane has many overdue inspections or service bulletins?
If it can legally fly (with a ferry permit), 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. At the auction, your broker will be pivotal in managing the sale of your aircraft.
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 jetsales@assentaero.com 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?
Yes.
I have an aviation company and I’m interested in displaying/advertising at the auction. Do you accept sponsors or partnerships?
Absolutely!: Email jetsales@assentaero.com or call us at 817-888-8227.
If you have a question or a comment please do not hesitate to Contact Us.