Global AVX is to hold its first auction on November 12th global sales director, Stephen Kelly, told Corporate Jet Investor’s Town Hall delegates today (September 9th). The Dublin-based global auction site for business and commercial aviation launched in late April, offering brokers, leasing companies, liquidators, airlines, individuals and corporations, a dedicated aircraft auction and listing platform.
Fast forward five months and Global AVX is positioned to hold its first auction on November 12th, the same day as new James Bond film No Time To Die makes its UK premiere. Bond in mind, Kelly donned his tuxedo to present to delegates at this week’s edition of CJI Town Hall, which was titled Getting ready for the Fall.
“We are delighted to announce our first auction. While Bond has no time to die, our clients, who are going to be bidding on our auction, have no time to fly commercial,” said Kelly. “We have partnered with Hopkinson Aero, together we will be presenting a 1997 Citation Ultra for auction. It will be auctioned across two working days to November 13th.”
The company has identified two sections of the market it believes the auctions could interest. The first he dubbed the Pandemic Convert – the person who doesn’t want to fly commercial anymore due to Covid-19. The other is the Reluctant Road Warrior – the type of person who did fly regional commercial airlines but is now forced back into the car.
“These are two examples of who we think might buy our jet. But the bottom line is, over the course of the two days, we are going to let the global marketplace determine the price and hence the value of this asset. And that price can be trusted because it is [reflecting] the motivations and desires of various professionals buying it for different reasons. We are so confident about this, we have produced a transparency report from start-to-finish of how the price was determined.”
From Monday (September 14th) the auction site will be live and interested parties will be able to sign up for November’s auction.
This week’s edition of CJI Town Hall was sponsored by Aerlex Law Group, a Los Angeles-based law firm which offers advocacy and expertise to clients in all areas of business aviation. The online meeting included presentations from Amanda Applegate, partner, Aerlex; Lee Rohde, President and CEO, Essex Aviation; Jean-Noel Robert, executive and private aviation area sales director, Airbus Corporate Jets; Perla Marina Fagundez, partner, Aerowise; Kirsten Bartok Touw, founder, AirFinance; Viren Joshi, MD, AirFinance; and Brian Proctor, founder and President, Mente Group.