Global AVX, a digital auction platform for transparent aircraft transactions, has begun preparations for its first online aircraft auction on 10 December 2020.
Dedicated to supporting international aircraft sales and two years in the making, it is the brainchild of corporate lawyer Robert Bourke. The concept was conceived to enable bankruptcy professionals to adequately address their disposal obligations and duties by ensuring the distressed aviation assets were receiving a fair market price.
The platform addresses this critical need by establishing an independent market-based price through a global auction process. Combined with Global AVX’s full transparency report, bankruptcy professionals can now deliver complete accountability to all of their transaction stakeholders.
The Global AVX online mechanism is designed to support aircraft transactions between motivated aircraft brokers, direct sellers and international purchasers in a transparent, accountable and trustworthy online environment. With travel restrictions limiting physical sales negotiations, Global AVX notes an increased interest in high-value deals being conducted online and is now acting as a market driver stimulating aircraft sales internationally.
The technology aims to complement and enhance traditional broker activity and the company says it is already attracting professionals seeking new and innovative ways to promote, market and sell aircraft assets to a market that has seen a spike in business and corporate aircraft ownership interest as a result of the pandemic.
Hopkinson Aircraft Sales is the debut broker looking to maximise the opportunity presented by Global AVX, listing a 1997 Cessna Citation Ultra aircraft for auction.
“We want brokers, owners or operators to see this as a viable medium that extends their global capabilities for aircraft transaction activity,” said global sales director, Stephen Kelly. “We are focused on helping them achieve the deal no matter where the aircraft is parked. Our aim is to seamlessly integrate into the business aviation community with our innovative new technology platform. Our process also eliminates the tyre-kickers and ensures the aircraft for sale are qualified by professional data reports. In essence we are a software-as-a-service platform, enabling aviation transactions between willing buyers and sellers at prices determined by peer-to-peer interaction.”
Based in Dublin, Ireland, Global AVX now has a team of 12 experienced professional aviation experts defining, refining and evolving the platform.
“We are extremely excited by the potential for Global AVX now and into the future,” said Kelly. “We’re providing an independent global medium where aircraft transactions can be conducted in an efficient and transparent way. We are all adjusting to our new normal and one of our ambitions is to streamline buying and selling aircraft as the more transactions we can generate the better for the industry overall.”