Whether you’ve decided to close for good, need some extra cash to help you through a tough time, or simply have excess equipment and inventory you’d like to get off your hands, liquidating your business assets can be a constructive solution for many companies.
When you need to recover your company assets, your first thought will probably be to have a liquidation sale. While this is certainly one option, you may find that a liquidation auction is more advantageous for your situation. Let’s take a look at how a business liquidation auction may be more beneficial for your company than a liquidation sale!
Sell your items quickly.
It can take several months, or even years, to recover the value of your business assets through a liquidation sale. If you’re closing your business or your company is struggling and you’re trying to liquidate to help offset debts, you don’t have time to search for buyers and review offers. If you choose to auction your items, on the other hand, your auction company will know how to price and market your assets to guarantee a bid and have them sold in a day.
Competition will drive up prices.
Auction companies implement widespread and effective marketing measures to generate a big crowd on auction day. They’ll use their extensive network to target the right audience and attract the buyers who are most likely to be interested in your items. Therefore, when you liquidate by auction, it fosters greater competition for your assets that often leads to a higher sale price.
Online auctions give your assets even more opportunity to sell.
Online auctioning tools, such as mobile apps, virtual bidding, and livestream auctions, open up your liquidation to the entire country or even world. Unless you’re prepared to do the work of marketing, reviewing offers, and arranging delivery to online buyers yourself, a liquidation sale does not afford you that same opportunity. Opening your auction to online bidders is another way to create competition to drive up the price. Plus, when you liquidate through an auction company, they’ll handle the details of marketing, sale, and delivery.
At Smith & Co Auction & Realty, we use a high-quality marketing program and our extensive mail list to get the best turnout and final price for sellers at every auction. If you’re liquidating your business assets, we can help auction your machinery, inventory, commercial building, and other capital to sell at or above market value.
Give us a call at 580-254-3975 to learn more about our live, online, and mobile auction services!