Liquidity Services utilizes virtual tour technology to safely conduct asset sale during COVID.
Background
When our client, a global leader in energy management and automation decided to consolidate its eastern Massachusetts operations into one complex, it meant the company’s iconic 1890-era two-building plant, would no longer be needed.
With the scheduled demolition of one building and the repurposing of another, the site needed to be cleared by the end of December 2021; however, before clearing the site, an inventory catalog was needed to offer plant employees the opportunity to purchase equipment prior to the sale.
The Solution
When the client partnered with Liquidity Services in October 2021, Liquidity Services immediately went to work creating an inventory catalog for the sale of assets to employees during the assigned transfer period.
Once the internal transfer period had concluded, the remaining assets were prepared for sale, while keeping COVID restrictions and bidders’ health and safety in mind.
To allow interested bidders the opportunity to view and bid on assets without having to visit the plant physically, the Liquidity Services team utilized Matterport Virtual Tour technology.
By creating a 3D digital model of the facility’s interior, bidders could “walk the facility,“ view, and bid on items from anywhere in the world.
The Results
The client’s surplus assets were sold on Liquidity Services’ online marketplace, AllSurplus.com and included late-model machine tools, plant support, and material handling equipment. With 1,972 bidders from Canada, India, Mexico, New Zealand, Turkey, and the United States, Liquidity Services sold 672 assets for over $1.3 million.
Liquidity Services managed every aspect of the site closure, from asset identification through compliant removal, helping the client meet its closure timeline while generating significant capital from its surplus assets.
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