![]() So, people must bid carefully and make sure to carefully inspect items if possible. What are the risks? Items are sold as-is, cannot be returned and the auction service assumes no liability for any product problems. Since bidders determine the price of an item, good deals are quite common. Everything is negotiable in an auction from start to finish. A nice thing about auctions is the control attendees have in terms of item prices. The growth of sites like eBay and other online marketplaces confirm an upward trend for these activities. By purchasing items at low prices, bidders can resell these items for a profit. Many people view liquidation auctions as a business opportunity. However, all items are sold as-is with no returns allowed. Many auctions provide an inspection period so bidders can determine good buys. As with all types of auctions, buyers can get really good deals on all types of products, from electronics and household items to big-ticket items and rare antiques. Ĭan You Get a Good Deal at a Liquidation Auction? The term “liquidation” usually means “low price” in people’s minds. Any left-over funds get distributed to shareholders. High value items like artwork or antiques might be auctioned separately. ![]() Auction items include unsold inventory, the company’s office furniture, supplies and any other assets the company owns. What’s Sold at a Liquidation Auction? Generally, anything the company owns of value will be sold at a liquidation auction. Typically managed by an outside auction house, these auctions may be voluntary or forced as a result of bankruptcy or legal judgment. This blanket term is often applied to a variety of auctions and used to mean “everything must go.” This discussion will focus on the liquidation auction as one of the steps in closing a business. For example, some people may use the term “liquidation” to refer to a surplus or government auction. However, sometimes various types of auctions are called the same thing. Liquidation Auction Technically a liquidation auction sells a company’s goods to raise funds for creditors. As with all types of auctions, bidders have the opportunity to snap-up quality items at deep discounts. The auction may be a voluntary event by a business, or involuntarily conducted as a result of bankruptcy or legal judgment. These assets could be unsold inventory, office furniture, or anything else of value the company owns. Liquidation Auction Although used interchangeably with other types of auctions, a liquidation auction technically refers to a company selling its assets. We strive to fulfill the important needs of our customers to insure a fair market value return on all goods.ĭownsizing your Warehouse? Extra Inventory? Overstock? Closing Shop? We Pay Instant Cash $$$$ For: Clothing, Furniture,Industrial Equipment, Restaurant Equipment, Electronics, Retail Merchandise, Etc.What is a Liquidation Auction? by Deb Weidenhamer, President & CEO Computerized inventories, sales reports, experienced staff and national advertising are services we include in our competitive commission rates. We deal with them all.ĭirect Liquidation can provide professional auction services, appraisals, freight and storage facilities at very competitive prices. Inventories are acquired through insurance and freight claims, bankruptcies, receiverships, buybacks, over-production, cancelled orders… virtually any kind of problem situation. We specialize in purchasing and marketing merchandise from distress situations. Direct Liquidation is headquartered in Burnaby, British Columbia, Canada and has been providing solutions for inventory problems since 1990.
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