Written by S. Hoek
Over the past many years I have been asked the question, “What is the best way to sell your excess Furniture Fixtures and Equipment (FF&E) when I close or remodel my store”. I explain it like this: the two most common avenues to sell your Surplus Assets and Excess FF&E would be at an on-site liquidation or via an on-site auction and/or an online auction. Both ways can be effective. However, the situation the retailer finds themselves in will help determine the best course of action.
A liquidation sale is where the company retained to help sell excess/overstock merchandise and equipment runs an organized tag sale at the place of business. The merchandise will run through your registers in an orderly way. The liquidator takes the time to price the items you are looking to sell. The liquidation company will help advertise and market the sale to the masses. The customers would come into the location over a period of time. The sales would be negotiated with the liquidator and the buyer. This process can utilize some of your team members or can be run separately from your normal team. Why use a liquidation sale? If you have time and you want to have control over the return on your investment this may be the way to go.
An auction sale would typically involve a one-day sale. The auction company would send a team into your building after the merchandise sale winds down and organize, inventory, and lot the items being sold. Typically, there would be a two-week marketing window to allow the company to post on their website, send emails to announce the coming sale, and also use a digital campaign to create awareness of the sale.
A third way to perform would be to use both an auction or liquidation wind-down sale. We refer to these types of sales as a hybrid, meaning we can start the project with the liquidation of merchandise and the store fixtures. Then the project will phase into an auction at the end of the project. This potentially allows the client to maximize their return. There are not many companies that can pull this type of sale off.
There are many companies that can perform auctions or liquidations. What makes Surplus Asset Management unique is that we can perform these hybrid sales. We have partnered with some of the largest retailers and property managers across the country to perform both liquidations and auctions depending on their needs. Depending on the scope of work, inventory list, age of the items being sold and the time frame you are working with we will help you determine a course of action that will best serve your needs and help you obtain the best ROI. Why use Surplus Asset Management? (SAM Auctions). It is simple. We will get you the best return for your assets. Over the years we have completed hundreds of successful auctions and liquidations for our clients. We are the Nation’s premier Surplus Asset Management Company! Many liquidation companies and auction companies like to play a shell game with your money. That is simply not how we do business. We are the most transparent auction and liquidation company in the nation.
Over the years we have auctioned off and liquidated many types of projects: Supermarkets, Grocery Stores, Home Centers, Lumber Yards, Distribution Centers, Full Mall Cleanouts, Retail Stores, Remodel Clean Ups, Back Room Cleanups, Service Projects, and much more. Whether you are in bankruptcy, closing a store or simply looking to raise cash we are here to help! We have a client database of over 40,000 active emails that are looking for your equipment. With dozens of teams across the country, we can typically be on-site within 24 to 48 hours of contact.
If you have or know someone that is looking to close a store or sell excess equipment and would like the best return on investment please call us today! You can reach us at sales@surplusassetmanagement.com. Or you can reach our VP of business development, Scott Hoek at scott@samauctions.com.
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