Cirrus SR22 VH IXB associated with alleged tax fraud
 

Just a heads up that it has been reported that Cirrus SR22 VH IXB is one of the assets of the company involved in the alleged serious tax fraud that has been in the news recently in Sydney.

Registered to Prescott Page Recoveries 189-197 Kent St Sydney.

Tax fraud!

It was a simple accounting error.

Happens all the time.

I'll keep an eye out for it at the auctions. Should pop up in about 3 years. Hopefully someone keeps the engine turning in the meantime.

What was the rego of the second aircraft ?

VH-TAX. :E

Nah Gerry.......
T'was

VH - FGY.....

As in - Very Hot - Feckin' Gotch Ya......

:}

More likely it will be pushed out of the hangar and parked at the far end of whatever airfield it is at, possibly tied down, and ignored until ready to be auctioned.:ugh:

I understand IXB has just been sold to a YMEN based syndicate.

.... and they paid far too much for the aircraft. Just goes to show that auctions are not always the best way to buy aircaft.:O

They could have got a better equipped aircraft for the same price!!

How much did it go for ?

By my reckoning just under $800,000 after GST is paid.

2015 model cirrus. Looks about a fair price. But its not our call. It's worth what the highest bidder wants to pay. Not what the seller wants or the old bloke in the hangar who isn't a buyer thinks something should be worth. No doubt they did their research and aren't fools.

Every time someone buys something there's always someone around to say they could have got a better deal and bring them down. Give people some credit I reckon.

I think it's more a reflection of the way in which the 3 week online bidding process was managed by the top 3 or 4 bidders.

It was such a race early on for prospective buyers to outbid each other, that by the time the 'real' bidding started in the last day or so, the top 2 bidders were paying the penalty for the earlier price action. That's the reality of this type of auction I guess.

Adding the purchase price, buyers premium (7.7%), GST brings the figure to a tad under $800,000.

There are other, higher spec and newer aircraft available at prices not much more than this.

I understand your meaning but perhaps this aircraft had exactly what a couple of people wanted. Is there a higher spec'd Cirrus around for less than $800k including GST out of interest? Maybe they just liked the paint scheme better on that one, who knows.

Was just expressing a bit of frustration...don't think I have ever purchased anything where there wasn't someone saying that i paid too much implying they are smarter buyers. Whether it was car/house/aircraft..and usually these people never were in a position to buy it anyway and dont know how the market is moving. Stuff is worth what someone is willing to pay and when it comes to expensive aircraft, its a fair assumption that they would have done a comparison of current aircraft on the market. (Wonderful aircraft to fly and be a passenger in btw but we all have opinions on whats the best type).

I very much doubt that a syndicate would have got carried away with the bidding process and over-spent their hard-earned.

It's like eBay, a realestate auction, or any auction for that matter, set yourself a limit and don't go beyond it.

Just because it was selling at auction, doesn't mean it was going to be cheap.

I recall the Liberty XL2 auction (qty 6?) at Warnervale. The first one went for some $40k more than the second one with the only difference being hype from the auctioneer and it had wheel spats ! --- that's what happens when you get emotional at an auction :-)

Well that all happened very fast!


I don't think the fraudsters have even had the day in court yet to be convicted (not checked so happy to be corrected).

I guess it is the fast train if you try rip off the ATO.

Compared to what... :E





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The standard