A Gulfstream corporate jet has been bought over the Internet for $22.9 million (€21.05 million) in the largest-ever e-commerce transaction.

Elite Aviation, a charter and aviation management company, bought the second-hand Gulfstream IV aircraft via gulfstream pre-owned.com, Gulfstream's website, which uses special technology to enable customers to make a virtual inspection of corporate jets that are up for sale. No one from Elite Aviation physically saw the aircraft before completing the deal.

The IPIX technology is owned by Interactive Pictures Corporation, a US Internet company whose investors include GE Capital, Motorola and American Express. Gulfstream is the world's leading corporate jet company, owned by General Dynamics.

"Previewing pre-owned aircraft is a time-consuming and expensive proposition," said Richard Hodkinson, president of Elite Aviation. "Gulfstream's pre-owned website greatly simplified the purchase process, saving us time, money, and aggravation.

"We got virtually everything we needed from the web, including the chance to kick tyres," he added.

An IPIX image places potential customers in the centre of the aircraft for sale, and allows them to navigate the environment in real time as if they had been teleported into that space.

"Today's transaction is more than just another sale. From a big picture e-commerce perspective, it validates that the Internet can be an effective tool in the sale of large, complex capital goods," said Joe Walker, Gulfstream's senior vice-president of sales and marketing.

Gulfstream says that potential customers are able to inspect all aspects of an aircraft's interior, "eliminating the time and expense required in travelling to the aircraft's location".