A Step-By-Step Guide to Conducting Plant Auctions

When a company closes whether voluntarily or due to financial strain, liquidating machinery, equipment and assets can come into play. Holding a plant auction is a common liquidation process that involves auctioning your tools, machinery, equipment, and more. Infinity Assets Solutions lists several important steps to take while conducting plant auctions.

 

Steps to Run Smooth Plant Auctions

Get Necessary Documentation

Making sure you have all available documentation and manuals on your machinery & equipment can help streamline the liquidation process, especially when it comes to know what options and specifications your machinery is equipped with. It is also important to have hard copies of any paperwork for vehicles and/or trailers to make the transfer of ownership seamless.

Conduct an Equipment Appraisal

It can be valuable to have an equipment appraisal done on your machinery & equipment so you have an idea of the recovery values you can expect from the liquidation. An appraiser can show you the recovery values on your equipment under different value concepts and based on your liquidation timeline.

Work on Machine Restoration and Repairs

In some cases before a plant auction, it can be beneficial to pay for repairs on machinery & equipment to ultimately yield a greater return during the liquidation. A qualified equipment appraiser can help with recommendations on where to spend money to make sure your assets receive optimal value.

Contacting Interested Bidders/Buyers

One of the most important steps of the plant auction process is connecting with a network of bidders and buyers that are potentially interested in purchasing your machines, tools, and other devices. Your auction service provider can provide you with a wealth of quality bidders to make sure your plant auction is a success.

Hire an Industrial Auction Company

You can get through all the aforementioned steps if you decide to work with a highly reliable industrial auction specialist, such as Infinity Asset Solutions. Our long-term industry experience guarantees profitable results. Contact us today to learn more about everything that we can do for you.