Leading Real Estate Auction Company Stretches Its Wings, Will Now Auction Aircraft

Irvine, Calif. -- REDC, the nation’s leading real estate auction company, has stretched its arms into the aviation space.

REDC, which has auctioned 100,000+ properties for $7 billion during the nation’s foreclosure crisis, has partnered with the Experimental Aircraft Association (EAA) to auction aircraft at “The Spirit of Aviation Aircraft Auction” Saturday July 31 at Wittman Regional Airport in Oshkosh, Wisconsin as part of the annual “AirVenture” event that draws in excess of 500,000 peopleduring the weeklong event.

The auction features some of the most unique and historic aircraft ever built, including a Grumman TBM-3U built in 1944 that has a starting auction bid of $290,000 and a Stinson SR-10 built for and flown by thenShell Oil Company VP Jimmy Doolittle, the former WWII hero.

To view all the aircraft in the auction, go to www.airventure.org/auction. Aircraft will be added on a regular basis. Pre-auction bids are being accepted and aircraft may be pre-sold.

“This is a great opportunity for those who want to buy or sell an aircraft at a unique, world-class venue and event,” says Jeffrey Frieden, CEO of REDC. “This auction will bring together people and aircraft in a way not seen before in the aviation community.”

The consigned aircraft in the auction range from privately owned recreational aircraft to rare vintage and warbird aircraft, and larger general aviation planes. Here are some other rare aircraft in the auction:

• Monocoupe 110 Special: Built in 1998 with a starting bid of $55,000, this one-of-a-kind aircraft is a customized remake from the Golden Era of air racing from the 1920's and 1930's takes the successful Moncoupe of that time and incorporates modern technology to deliver the Super 110.

• Grumman FM-2 Wildcatis a truly unique example of the nation’s front-line fighter at the start of World War II. This aircraft is museum quality and available for pre-auction inspections. Starting bid of $690,000.

• Songbird III - Cessna 310D: Striking1960 Cessna 310D that underwent complete restoration. This aircraft was actually used in the promotion of the 1960’s television series “Sky King” and the only remaining aircraft from that show. Starting bid $169,000.

The auction is being held in conjunction with the 58th annual edition of EAA AirVenture, “The World’s Greatest Aviation Celebration,” July 26-August 1 at Wittman Regional Airport in Oshkosh.

It is the first time people seeking to buy or sell aircraft at EAA AirVenture Oshkosh will not have to rely solely on handbills, want ads and word-of-mouth to buy or sell aircraft. All aircraft are being reviewed by an EAA committee before acceptance into the auction and will be available for viewing on the grounds at Oshkosh at least 48 hours prior to the auction occurring. Additionally, Air Fleet Capital and EAA insurance services are available via the website to learn about finance and insurance options.

“For decades, AirVenture attendees have seen bulletin boards plastered with dozens of handbills offering aircraft for sale and that makes sense, since tens of thousands of pilots discover that their next airplane is available at Oshkosh,” said Rick Larsen, EAA’s vice president of marketing. “This auction is an option for those who want to make that connection to sell or buy an airplane while on the grounds. EAA is working to ensure that a variety of interesting aircraft will be part of this sale, along the entire spectrum of price ranges.”

The website www.airventure.org/auction was established specifically for this event. The site allows people to view the aircraft that will be part of the Spirit of Aviation Auction, or makes it possible to consign an aircraft to the sale. The site will feature aircraft pictures, specifications and other important information.

About REDC

Established in 1990, REDC pioneered the model for modern real estate auctions and has transformed into a comprehensive real estate services company. In addition to being the leading real estate auction marketing firm in the country, the REDC group of companies also provides real estate brokerage services, asset management, short sale facilitation and title insurance. The company has established a dominant position in its industry by selling more than $6.5 billion in real estate assets at auction since 2007. REDC's primary clients are residential and commercial mortgage lenders and home builders. The success of the company is based on the aggregation of real estate assets (residential, commercial, notes) that are marketed and sold in large event-style auctions across the country and in online auctions at www.Auction.com. Information about REDC and a complete list of upcoming auctions are available at www.Auction.com. REDC is basedin Irvine, California with additional offices in Dallas and New York.

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