The Online Closed Auction will occur over a 7 days period, on dates to be confirmed.
How to Bid: Manually place your bids in real time, or set your maximum bid and let the system bid automatically on your behalf.
Auction Extension: If a bid is placed within the final 10 minutes of the auction, the closing time will automatically extend by 10 minutes from the time of that bid. This process will continue until no further bids are received for 10 consecutive minutes, at which point the highest bidder will be declared the winner.
Payment: The successful bidder is required to pay a deposit equal to 10% of the total amount payable within 5 days of the conclusion of the auction. The remaining balance must be paid in full within 14 days of the conclusion of the auction.
The total amount payable by the auction winner will be the winning bid amount plus a buyer's premium of 3% of the winning bid. The highest bidder at the close of the auction will be issued an invoice for the total amount due.
Title Transfer: Ownership and collection rights will only transfer to the successful bidder once full payment has been received, a zero-balance invoice has been issued by the auctioneer, and all Conditions of Sale have been satisfied, including the execution of a Storage Agreement with Asia Pacific Aircraft Storage (APAS) and a Security Deed granting the Commonwealth a security interest in the asset(s), together with consent to register that interest on both the Personal Property Securities Register (PPSR) and the International Registry.