1974 Mitsubishi MU2 Aircraft
Lot Number:1
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Start Time:7/2/2024 2:00:00 PM
End Time:7/30/2024 5:00:00 AM
Bid Count:80
Current High Bidder:1****2
Starting Bid:$10.00
Bid Increment:$250.00
Current Bid:$27,500.00

A 10% Buyer's Premium will be added to the final Sales Price. All applicable taxes will be assessed based on the sum of the sales price and buyer's premium.

-fixed wing, 8 seats, twin engine, turbo prop, Airesearch TPE331 Series, 904hp

Serial # MU2B-35-646

Registration / Tail #  N118P

We have scanned all of the logs our scanner would accommodate and taken photographs of what all else we have.  The logs pictured are all that we have and all that the buyer will receive. Last log entries are from 2013. History since 2013 is unknown other than the fact that the bank has had the plane for a little over 3 years more or less.

Bid accordingly.

Please click on the documents tab to view all scanned documents.

*** You must register as a user on our website as well as be registered for this particular auction and logged into your account to view the documents tab.

We are showing what log books we have in person by appointment at our Cherry Valley main office. We will also email pictures of anything you would like to see not pictured IF we have it.

Plane has NOT flown in several years while the bank was granted repossession. It will need going over by an experienced aircraft mechanic before even attempting to start it.

*aircraft is located at the Newport, Arkansas 72112 municipal airport and is available for inspection during their regular business hours of Monday thru Friday 10 am to 4 pm CST

*FAA registration has expired

*your personal or hired expert 3rd party inspection prior to bidding is encouraged and expected.

*aircraft sells regardless of price to highest bidder in as-is where is condition on behalf of secured creditor as part of an ongoing business liquidation.

*Winning bidder will be provided with a bill of sale and a paid invoice after full payment by wire transfer.

*Plane is being sold as is where is with no buyer contingencies whatsoever.

*aircraft will need to be removed from Newport airport as soon as possible.

*Buyer is responsible for any storage or hanger fees imposed by the airport beginning July 31st 2024 immediately after auction is completed.

 *Buyer is 110% responsible for removal of aircraft and all expense, repairs, inspections and logistics involved.

*Please make arrangements to bring your aircraft mechanic or service technician with you before attempting to remove aircraft from premises. It will most certainly need a thorough inspection and or repairs before any attempt to start or move the aircraft.

*Any damages or loss incurred after the auction ends on July 30th, 2024 will be the winning bidders responsiblity. Please have your own insurance in place effective July 31st, 2024.

*Aircraft sells in absolutely as is where is condition. Please do your due diligence before bidding. All sales are final.

*Full payment due Friday August 2nd, 2024 at 5:00 pm central time by wire transfer only. Winning bidder will be emailed an invoice to the email address you register with with wiring instructions.

There are no bids for the lot at this time

No donations for this lot

Absolute Aircraft Auction for Secured Creditor!

No reserve absolute online only auction.

10% buyers premium will be added to the total bid price.

Payment due by 5 pm on Friday August 2nd, 2024 at 5:00 pm central time.

Payment to be made by wire transfer only!

Aircraft has not flown in several years. Aircraft is being sold in as-is where-is condition to the highest bidder.

Winning bidder will be provided with a bill of sale and a paid invoice after full payment by wire transfer.

Plane is being sold as is where is with no buyer contingencies whatsoever.

Winning bidder is will become responsible for all storage and hangar fees starting July 31st, 2024.

Winning bidder is 110% responsible for any and all costs, fees, labor, logistics and / or repairs etc. needed to remove the aircraft. 

We expect each potential bidder to do their own due diligence and either personally inspect or hire an expert third party to inspect the aircraft at its current location BEFORE BIDDING.

Any damages or loss incurred after the auction ends on July 30th will be the winning bidders responsibility. Please have your own insurance in place effective July 31st, 2024.

All sales final. No Warranty. No Guaranty. No refunds.

North Operations Drive
Newport, Arkansas 72112
United States

We ask that you remove the aircraft as soon as possible from the Newport Airport or make arrangements with the airport for further storage requirements. 

Any storage or hangar fees incurred beginning July 31st, 2024 will be the sole responsibility of the winning bidder. 

Any damages or loss incurred after the auction ends on July 30th will be the winning bidders responsibility. Please have your own insurance in place effective July 31st, 2024.