PartsBase Introduces Silent Online Aircraft Parts Auction
Published June 15th, 2006
Press Release
PartsBase, Inc. (www.PartsBase.com), the leading online community for aviation, aerospace and defense, today announced its first online “e-Silent auction.” The e-Silent auctions provide the opportunity to sell large aviation surplus inventories via a closed e-mail bidding system on the PartsBase.com website.
“PartsBase has created a unique silent auction program that’s truly a win/win for both buyers and sellers. Parts auctions gain maximum exposure from our extensive marketing and publicity campaigns, while buyers gain the opportunity to buy large lots of parts at significant discounts,” said PartsBase Advertising Manager Gary Hochman. “Our promotions reach the company’s base of 4100 companies and their 16,000 end users, as well as the aviation community around the world.”
The first of several planned auctions, scheduled for June 22, features a large lot of Boeing, McDonnell & V2500 engine parts, airframe, rotables and expendables from a former Major US 121 Carrier. When new, the tagged and OEM-certified parts were valued at over $1.5 million. On July 27th, an auction of military specification (mil-spec) aircraft parts with an approximate value of $33 million when new, will be sold on PartsBase.com.
Each auction will feature a dedicated web page with a parts list/catalog, and photos for potential bidders to review. Each auction will have an on-site inspection dates. On the day of auction, registered bidders can submit as many bids as they wish until the posted closing time. Participants are then notified of the auction’s outcome.
“This is a great program for airlines, distributors, brokers – any company with a large stock of surplus inventory – to turn parts into cash,” Said Shawn Silbor, Vice President of Sales. “If an airline no longer flies a Boeing 727 series, they can auction all of their surplus parts on PartsBase and improve their cash position, free up warehouse space and eliminate the cost of maintaining those part inventories”
“At the seller’s discretion, e-Silent Auctions can be done with or without a reserve”, said Hochman. “Even if the reserve is not met, the auction is a good way for the seller to gauge what their surplus parts and inventory are worth in the current market. Then, they can choose to sell or re-auction the parts at a later time.”
