Pleasanton, CA (PRWEB) March 27, 2014
Bidding Ace, Inc. today announced the launch of a new marketplace for buying and selling general aviation aircraft online. The website is different from other online listing services by allowing qualified buyers to submit binding offers to purchase aircraft within a published sale period. The entire transaction is completed, "end-to-end", using a combination of BiddingAce technology and 3rd party relationships with overall guidance from BiddingAce service representatives to ensure a “best-practices” approach to buying and selling general aviation aircraft.
“We’re very excited about helping the typical owner sell his or her aircraft to a global market faster and with the confidence of knowing all the steps in the process will be done correctly,” said Tom Henn, BiddingAce Co-Founder and CEO. “Buyers will like the ability to not just search for aircraft online, but to place immediate offers the moment they’re ready to buy.”
How the System Works
The BiddingAce online aircraft marketplace works similarly to websites like eBay by giving sellers an easy way to list aircraft for sale and giving buyers the opportunity to submit bids to purchase the aircraft within a certain period of time. At the end of this time, the buyer who submitted the highest bid at or above the seller’s reserve price will win the opportunity to inspect the aircraft and complete the purchase.
BiddingAce is different from systems like eBay in that the company offers high-touch services to assist sellers in completing their listing with photographs, a survey of equipment onboard, videos, maintenance logs, and even an optional review done by an A&P Mechanic. BiddingAce then helps buyers by answering questions about listed aircraft and helping them in the bidding process. Once a sale has completed, BiddingAce again offers assistance to both buyer and seller to ensure inspections are done and that proper escrow procedures are followed. This "end-to-end" approach to buying and selling has never been done before using an Internet-based marketplace.
The technology platform underlying the BiddingAce online aircraft marketplace has been in use for more than 14 years and is developed and maintained by IronPlanet, a leading online marketplace for used heavy equipment. The IronPlanet platform offers numerous capabilities to ensure online bidding is safe, accurate, and available on a global basis. By partnering with IronPlanet, BiddingAce is leveraging this technology and base of experience.
Key Value Points
Previous to the release of BiddingAce, aircraft owners wanting to buy or sell had the options of enlisting a qualified brokering service to help them, or, conducting transactions on their own, typically working with online classified listing services to promote and find aircraft for sale. BiddingAce offers a complete, end-to-end capability that uses a mostly self-service model for listing, promoting, and transacting sales of general aviation aircraft with a market reach far beyond the normal geography accessible to typical sellers. The company promotes listings to hundreds of thousands of potential sellers and buyers each week through advertising efforts and direct contact. Buyers have immediate online transparency into aircraft they are evaluating, and sellers receive market-driven pricing when multiple buyers compete to purchase their aircraft.
The BiddingAce online aircraft marketplace is available now for both listing aircraft for sale and for placing bids. The company is initially accepting listings for fixed-wing aircraft only. Buyers must be located in the United States. The online marketplace can be found at http://www.BiddingAce.com.
BiddingAce is an online marketplace for buying and selling general aviation aircraft. Our goal is to provide aircraft owners and pilots a unique resource on the Internet for conducting actual transactions and for encouraging true, market-based pricing for aircraft sales.