Previously, it was shown that the minimum conditions for the illusion of auditory apparent motion (AAM) depend on stimulus timing but not spatial separation. In the present experiment, the effects of stimulus timing and source separation on the perceived velocity of AAM were examined. Eight listeners estimated the velocity, duration, and distance traveled of AAM, using a no-modulus, magnitude estimation procedure. Four burst durations (25, 50, 100, and 300 msec), 10 stimulus onset asynchronies (SOAs; 30, 40, 50, 60, 70, 80, 90, 100, 110, and 120 msec) and two separations (10 degrees and 40 degrees) were tested. Perceived velocity estimates were related to the total duration (burst duration + SOA) of the stimulus sequence. The effect of separation on velocity was extremely small but statistically significant. These results are similar to those obtained previously on the minimum conditions for AAM. Duration estimates were related only to total duration, but separation estimates were related to both separation and total duration. These results suggest that velocity is possibly a primary dimension of AAM that is independent of source separation.