Warehouse Equipment LiquidatorHow to find the right company for your operation
Once you have determined what used warehouse equipment you are keeping and the value of the equipment you have to liquidate, it is time to determine how you plan to sell it. Selling used warehouse equipment can be a challenge based on your needs between speed and expected return. Choosing the right warehouse equipment liquidator can mean the difference between success and failure for asset liquidation no matter what you’re selling, so here is a guide on how to choose the best partner for your project.
Not All Warehouse Equipment Liquidators Are Made Equally
Although there are going to be several options when it comes to a liquidation company, not all of those companies offer the same services, expertise, and experience. You want the most money for your used warehouse equipment, and you want it sold in a timeline that makes sense for your project, so here are the main factors to pay attention to:
1. Great Prices.
The number one factor people pay the most attention to is the price they are getting for their used assets. A warehouse liquidator that not only knows what you have but also understands the markets for that used equipment is critical.
2. Comprehensive, Transparent Quoting
Make sure the liquidation companies you are considering offer quotes that include everything and prevent surprise upcharges for things like dismantling, environmental, or disposal fees. A quote can look great at first glance, but hidden fees can ruin your project’s profitability.
3. Liquidates Everything
A liquidation company that only liquidates some of the used warehouse equipment you have won’t get you to the finish line. Some liquidators may specialize in a certain type of used equipment, but that still leaves everything else. The more vendors you have to work with, the greater your chance of overspending.
4. Liquidates Quickly
Time is often a huge determining factor in a liquidation project, so you need to find a company that not only understands your timeline – they can maintain it. There are not only potential fees for missing a move-out date, but rushing to sell used equipment can affect its value.
5. Experienced in Dismantling and Liquidating Used Warehouse Equipment
Warehouses and warehouse equipment present a unique set of challenges. Working with a liquidation company that has specific experience with these challenges ensures that the process goes smoothly and that you retain maximum value.
6. Presents You With All Options
In some cases, you are going to have equipment that doesn’t retain enough value to be resold. Find a liquidation company that can offer additional options for recycling or landfilling the equipment you can’t sell.
7. Leaves Your warehouse Move-In Ready
Building management companies have strict requirements for how a building is left when you move out, so make sure your liquidation company leaves the building in great shape when they are done to avoid loss of deposits and cleanout fees.
8. Pays You Quickly
The greatest liquidation project can go off without a hitch but if it takes you months to get your return, it can ruin a good thing fast. Make sure you work with a liquidation company that can wrap things up quickly and gets you paid.
Warehouse Equipment Liquidators Have Different Approaches
There are several options for considering which liquidation companies and other vendors to use for your project:
1. Use a Collection of Different Vendors for Different Aspects
This approach involves options like using an auction house to sell the high-value equipment, a recycling company to handle the items that can’t be sold and a trash company for what can’t be recycled. This option is the most time-consuming and requires the most labor on your part, but can offer higher returns on the items liquidated. The problem lies in the charges you’ll experience for housing goods as they wait to sell, and the individual charges for separate recycling and trash vendors.
2. Bundle Everything and Work with One Company
By far the easiest, and most efficient option is to use one company that can handle everything. An all-inclusive liquidation company will determine one price for everything that includes resale value, recycling rebates or charges, trash removal, and labor for everything. This pricing also includes a complete scope of work for how and when your liquidation project will be completed.
To help make the decision between these two options easier, compare the total cost, total time, and resources required on your end from both approaches.
Make sure your Used Warehouse Equipment Liquidation Project Succeeds
No matter which option you choose for your liquidation project, here are a few tips to make sure the project goes smoothly on your end:
- Establish a communication plan to ensure the liquidation is done on time
- Create a list of who will be involved
- Contact information of your internal resources assigned to the project
- Time assigned to each task required by your internal resource
- Create milestones to frame a timeline.
The most effective way to plan a liquidation project is to start from the end, and walk forward in time:
- Warehouse property inspection date
- Move out date
- When left over must be disposed of
- When items must be sold by
- Equipment dismantling date
- Inventory value established
- Inventory with picture catalog
- List of what is staying and what is going
Liquidating used warehouse equipment can be a complicated project with a lot of variables between you and success. That’s why working with an experienced warehouse equipment liquidator company like 1GNITE just makes sense. We handle every aspect of your liquidation project and get you the highest value for your used assets while saving you time and money doing it.
Contact us today to get started on your next used warehouse equipment liquidation project.
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