Going once, going twice ... Gone!

The aviation industry is littered with many locator services that charge high premium memberships in order to have access to the inventory, suppliers and buyers. Many of the main services have continued to operate for many years and have some benefits, however sometimes these locators prove to be very a cumbersome and arduous job to buy or sell the parts.

Consider an auction! There are certainly many benefits to utilizing an auction to buy and sell your aircraft parts. E-bay is not the option, even though they offer the ongoing auction model. E-bay just doesn't scream legitimate aviation professional!

Auctions are becoming an increasingly popular means to transact. They are a very effective way to sell your aircraft parts and components, as the buying community knows you are committed to making an immediate sale. Buyers can very quickly search through the parts needed immediately for projects and pick the individual parts to bid on.

The old belief that auctions are for sellers in desperate need of a sale has long since passed.

The main component of an auction is that there is a time limit on selling negotiations. This can create more impetus and urgency from prospective buyers if there is a good chance the parts are in high demand, which may be a great means of driving up the price. Sellers are able to see the demand from others in the market, and can always dispose of parts at prices below the original reserve price.

Some additional advantages to an online auction for the aircraft parts and components;

• In an auction scenario, it’s harder for the buying public to determine true market value because it’s difficult to compare other opportunities when they are not fully aware of the vendor’s sale price expectations.

• People bidding are buying with terms and conditions determined by the auction host.

• Vendors are protected by the reserve price. They set the reserve after assessing the bidding strength of the potential purchasers.

• The auction host advertises and brings the buyers and sellers from all over the world to one location for one day.

• If the parts and components don’t sell during the auction, the vendor has not lost any fees for listing their inventory.

• The sale contract is controlled and managed by the auction host, as a 3rd party ensuring delivery and payments happen smoothly.

• Partss with unique features often do well at auctions as they may attract more competition between bidders.

• If more than one buyer wants to buy the parts and components, the competitive nature of an auction can cause people to bid higher than they originally wanted to spend. This can result in large profits for the vendor.

FlyingParts International Inc. hosts the largest online auctions for aircraft parts and aviation components, spanning the globe with inventory and buyers from many countries. To learn more CLICK HERE