Tuesday, November 24, 2020

FAQ

Pilot Wanted Auctions are designed to provide the best experience for buyers and sellers alike. The auction process starts with sellers submitting their aircraft through the website. We select the most interesting aircraft and work with the seller to compile a thorough listing. Auctions run for 14-30 days. This format allows buyers to do their due diligence and bid with confidence.

What makes Pilot Wanted Different?

• We represent each aircraft honestly with objectively written listings, and provide access to historical records, and comprehensive photo/video galleries.
• Each seller is provided with a dedicated point of contact during the listing and live auction process.
• Comment threads on each listing let the buyer and sellers share knowledge and communicate about the aircraft.
• Sniping protection extends the auction clock by two minutes each time a new bid is placed.
After an auction closes, we put the seller in contact with the winning bidder to complete the transaction.

How do I Submit an aircraft?

All submissions are done from the aircraft submissions page. *We offer three levels of service based on the needs of a seller—Standard, Preferred, and Concierge. The “Standard” listing feature provides sellers with a personal auction specialist, custom written auction listing, a 14-day auction, and website exposure. For a limited time the standard option is free to list. The “Preferred” listing feature provides sellers with a professional photographer to shoot the aircraft tip to tail, an auction specialist, a custom written auction listing, a 21-day auction and website exposure. Cost is just $495. “Concierge” is a white glove service that includes photography, video, log copies, documentation digitization for buyer’s review, your own auction specialist, a custom written listing, thirty-day auction and premium listing placement. This service is bespoke and prices may vary. Email pilotwanted20@gmail.com for complete details. After choosing a service level, sellers answer questions on the submission form and upload photos so our auctions team can evaluate if it’s a good fit for our audience. If your aircraft is accepted, the seller pays the listing fee and we work with the seller to gather all necessary information (including videos, maintenance records, aircraft history, and service documentation).With the information and photos provided by the seller, our Auction Specialists craft an honest and informative listing for your aircraft.

How our Live Auctions Work?

  • Every auction goes live with an informational listing, photo gallery, and additional seller features that help ensure a great result.
  • Each auction has a comment thread where the Pilot Wanted community can discuss the aircraft and ask the seller questions. Sellers are encouraged to be active participants in the comments section. Answering questions and engaging with the community will increase bidder confidence.
  • Potential bidders can use the Contact Seller button to ask the seller questions, schedule a viewing, or set up a test flight.
  • Each seller has the ability to lower their reserve while the auction is live. However, removing an item or raising the reserve price will not be possible after bidding begins.

How Bidding Works?

• You must register to place bids or comment on Pilot Wanted.
• Before bidding, bidders are required to submit an approved payment method. Please Note: Pilot Wanted uses Stripe as it’s third party processor and does not store or have access to any of your credit card information. Your card will only be charged if the item your are bidding on reaches the set reserve price and you are the high bidder when the auction closes. 
Sniping protection extends the auction clock by two minutes each time a bid is placed in the auction’s final moments. The auction isn’t over until two full minutes have elapsed since the highest bid was placed.
• PWA encourages all potential bidders to read the listing and review the entirety of the comment section before placing a bid. It is important that bidders do their due diligence to understand all the details of the aircraft and insights offered by members of the community. 
• At auction close the winning bidder will be assessed a 5% buyers premium. This percentage is capped at $100,000 USD. This means that when an aircraft auction closes above $100K USD, the buyers premium is still only $5,000.

The Post-Auction Process

  • If the auction reserve is met when the listing ends (or the auction is no reserve), Pilot Wanted provides the seller and winning bidder with each-others’ contact information. The buyer and seller then work together to complete the transaction and arrange any inspections, deliveries, or ferry flight’s, if necessary. Pilot Wanted is happy to provide assistance or answer questions during this part of the process. If the auction reserve is not met when the listing ends, Pilot Wanted will work with the high bidder and seller in hopes that they can work out a deal.

How Our Fees Work?

• Sellers pay a $195 listing fee, (free for a limited time) with the option to add our “Preferred” Service for an additional $300. There are no other seller fees on Pilot Wanted and we do not charge your card until or unless your aircraft is accepted for auction.
• Buyers pay a 5% premium on top of the final sale price to Pilot Wanted. This premium is capped at $5,000. regardless of final hammer price. Buyers pay an 8% premium on memorabilia.
• Contact us for pricing regarding the “Concierge” listing service.