Uncategorized
January 24, 2012
Selling surplus assets or closing a facility can be a confusing experience. EquipNet has created tailored auction services to help assist clients with their varying selling needs. Whether you have tight time constraints, specialized markets, or something else, one of the below auction services can work for you!
Sealed Bid Offering:
- What is it? A sealed bid offering is a method of sale whereby confidential bids are submitted to be opened at a predetermined place and time. This is not technically a true auction in that it does not allow for reaction method is most useful when a company is looking to sell an entire facility or equipment that has a low number of potential bidders
- How does it work? The inner workings of a sealed bid vary from auction to auction. If the facility houses many items, EquipNet lots them in groups (ex 100 items could be lotted in groups of 10). Bidders are then able to choose whether to bid on an entire facility or on a single lot.
- Why is this Beneficial? From a buyer’s perspective, a sealed bid offers bidders the ability to bid lower than market price without other bidders driving prices up. From a seller’s perspective, sealed bids allow for bidders to place bids that they cannot return to and adjust. Additionally, when sealed bids are successful, the client is able to sell their assets more quickly than a traditional auction. This is because with only a handful of buyers, logistics and accounting issues are seriously alleviated.
Live & Webcast Auction
- What is it? This is when EquipNet manages the sale of assets at a live auction with online bidders participating remotely via a simultaneous Webcast
- When it is most useful? This method is most useful when a company is looking to liquidate an entire facility quickly. It is also extremely useful when there are many items that can be “picked up” by local area business.
- How does it work? Buyers can bid online and in person via the webcast on a variety of different equipment.
Online Smart Auction
- What is it? Online Smart Auctions are auctions conducted entirely on the web utilizing a “high-bidder-wins” competitive bidding process to sell pre-owned equipment. The Online Auctions are hosted on the EquipNet website using our own proprietary auction software.
- When it is most useful? This method is most useful for sellers who are looking to sell their unsold Marketplace merchandise. Online auctions are also a good choice for sellers who need to meet short deadlines.
- How does it work? Items are usually listed for sale beginning at 9 AM on the day of the auction and commence at 4PM. Sellers are able to place reserves on high valued items ensuring that they are getting fair market price for valuable pieces of equipment.
In addition to these individual auction services, EquipNet’s project managers can create specialized project plans that combine the above elements with other services in our surplus asset management toolbox. To find out if these or any other EquipNet service is right for your company, please call the sales team at 781.821.3482 or email [email protected] for more information. Want to see how our auctions work? Click here to view our calendar of current and upcoming auctions.
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