What Information Do Surplus Buyers Need Before Bidding?

Liquidity Services’ quarterly survey research continues to unearth valuable information about buyers of your surplus. Last quarter’s research – which surveyed nearly 2,500 surplus buyers across all major industries – found that buyers are highly motivated to reduce risk in their surplus purchases.

According to our findings, your organization can reduce buyers’ perceptions of risk by providing accurate, comprehensive information about the surplus you’re selling. This information builds buyer trust in your organization and its surplus. As a result, buyers will pay more and bid higher, ensuring maximum recovery for your surplus assets or inventory.

Prospective buyers find the following information vital when evaluating whether or not to bid on the surplus you’re selling. You can view our complete survey results as a white paper or infographic.

  • Asset Condition – 96% of surplus buyers rate accurate information about your asset’s condition as important or very important to their decision to bid. This information reduces buyer risk by giving them confidence in the asset’s quality. Liquidity Services always includes your assets’ conditions as part of lot listings on our online marketplaces.
  • Detailed Descriptions – 95% of buyers rate accurate, comprehensive descriptions of your assets as important or very important to their decision to bid. This information helps buyers better understand the assets themselves, reducing their perceptions of risk. Liquidity Services provides thorough descriptions for every lot listing, from dimensions to location to legal details.
  • Photos and Videos – 94% and 65% of buyers, respectively, rate photos and videos as important or very important elements of asset listings in their bidding decision. This content establishes buyer trust by providing clear evidence of your assets’ quality. As part of our lotting process, Liquidity Services skillfully captures, edits, and posts compelling photos and videos of your surplus to maximize recovery.
  • Asset Age – 85% of buyers rate information about your asset’s age as important or very important to their decision to bid. Including this information will build buyer trust by showing your commitment to transparency. Liquidity Services always includes assets’ ages as part of our lot descriptions.
  • Original Manufacturer and Seller Brand – 66% consider the seller brand name important or very important to their decision to bid. A familiar brand name is a mark of quality that increases buyer confidence and interest. Displaying your brand name also shows that your organization stands behind the asset. With your permission, Liquidity Services will communicate your brand to potential buyers to increase recovery.

Liquidity Services’ extensive research has found that your business can build trust with buyers by providing a wide range of accurate, detailed information about surplus assets you’re selling. We partner with you to deliver the superior, comprehensive merchandising experiences your buyers need, maximizing value for your surplus while freeing up resources to focus on your core business.