Background
Our client, a clinical-stage biopharmaceutical company, required a strategic downsizing of their Southern California facility operations to make room for a new bioscience project.
The Challenge
With the need to empty a laboratory full of surplus equipment efficiently and compliantly, the client required a partner who would prioritize flexibility, transparency, and adherence to stringent regulatory standards.
The Solution
Liquidity Services proposed a comprehensive solution consisting of multiple online auctions supported by field service cataloging. This approach was chosen for its flexibility and effectiveness in handling varied types of equipment and ensuring regulatory compliance. The multi-faceted auction strategy included Private Treaty, Commodity, and Stand-Alone events tailored to maximize recovery value while meeting the client's timeline. 11 Countries
The downsizing project, executed from August to September 2023, was a decisive success:
- Key equipment sold included high-value items such as the Sciex Qtrap 6500+ Mass Spectrometer System, AB Sciex LC System from 2017, and other advanced laboratory equipment.
- Bidding engagement efforts attracted 66 bidders totaling 1,968 bids across diverse global markets, including Australia, Asia, the USA, Canada, South America, and several European countries.
- Sales performance was excellent with an auction strategy that effectively mobilized a wide international audience, ensuring competitive bidding and optimal asset recovery.
Liquidity Services maintains an active partnership with our client, and they plan to reconnect for future projects as they arise, ensuring a reliable, expert solution is always ready for their asset management needs.
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