How to Successfully Run an Industrial Auction

Companies that regularly upgrade their machines may accumulate a lot of surplus equipment in their facility and look to industrial auctions to help liquidate and clear floor space. Industrial Auctions can help a business recuperate cash from obsolete equipment in an optimized time frame. If an Industrial Auction is something a business owner is considering, it is important to know how to run one successfully.

 

Tips to Run Profitable Industrial Auctions

Identify Surplus Equipment

You’ve decided it’s time to sell off surplus/unused equipment. The initial step is to identify all surplus machinery, equipment & tooling that has become obsolete or is no longer required for operation at your facility. Creating a general list of surplus equipment is the first stepping stone towards reaching your goal of turning equipment into liquidity for your business.

Hire an Industrial Auction Company

Working with a reputable Industrial Auction Company, such as Infinity Asset Solutions will alleviate the stress that comes with running your Industrial Auction. Our industry experience guarantees optimized results with maximum gross realization potential. Infinity will take care of the remaining necessary steps to make sure your Industrial Auction is a success.

Create a Lot Catalogue

Infinity will create a complete lot catalogue of your surplus equipment. Infinity creates easy to understand lots to generate the most interest from your potential bidders. The key to a great Lot Catalogue is to make sure your buyers have everything they need including but not limited to the make, model, vintage, serial numbers and other important specifications such as capacities and tooling options.

Photograph Surplus Equipment

With the Industrial Auction world moving more towards online sales, bidders rely heavily on the information provided to them. As the saying goes, “A picture is worth a thousand words” so it is crucial to take lots of photos from different angles as well as manufacturers plates, controls, etc. The more information you can provide a bidder through your Lot Photographs, the better the outcome of your Industrial Auction.

Use an Industry Leading Bidding Platform

The final step to run your Industrial Auction is to utilize an industry-leading bidding platform to conduct your sale. Infinity Asset Solutions uses only the best bidding platforms to ensure a smooth Industrial Auction Sale.