Challenge
When a global mobile phone supplier decided to close a test and measurement facility in Europe, the management team was also given a short window to complete this difficult task. The facility only had a two-month window to clear out all of its assets and a goal of £100,000 in cost recovery. With an already overextended team of employees and staff being laid off over this period, management turned to a trusted partner in Liquidity Services.
Solution
Liquidity Services had a short timeframe to complete a comprehensive catalog of all assets and lot items — ranging from oscilloscopes to vector signal generators — in the European facility. The team worked vigorously to recover as much information as possible by dispatching its team of valuation experts to the facility. In this way, it was able to conduct an appraisal of the items to list them at appropriate bidding amounts on the GoIndustry DoveBid website, a leading Liquidity Services online marketplace for surplus commercial assets. In addition to its work in the disposition process, Liquidity Services provided value-added professional packing and shipping services for the fragile equipment to make up for the lack of client staff onsite.
Results
Through a team effort that combined valuation expertise with world-class online auction services, Liquidity Services was able to tap its global buyer base and successfully sell the majority of the designated lots in the brief timeframe specified. More than 137 bidders participated in the online auction from around the world with an interest in test and measurement equipment. The client also had its expectations exceeded when the total value through the disposition sales process was over £300,000 ($467,550*), an increase of 200% beyond its goal. Buyers were confident in the transparent process and the client was able to clear the site in the allotted two month window, contributing to an overall win for the client.