Companies often have situations where they need to maximize the value of their surplus and idle assets, and an auction can be a productive way to do so. It’s important to work with a partner who understands your needs and has the experience, credentials, and know-how to run your auction in an efficient and cost-effective manner.
Schneider Industries has been in the business of auctions for almost 30 years, and our professionals know how to use the intricate auction process to their advantage for our customers. With a focus on customer service, we have experience with business and inventory conversions and work with our customers to create an individualized plan of action.
Our professionals have an extensive worldwide network and experience working with businesses in a variety of industries, from Hi-Tech to Agriculture, and we bring that global experience to every auction. We understand the goals you have in mind and work to find solutions that fit your needs.
Although auction participants may see a smooth process, the intricate background work that goes into setting up an auction takes an experienced professional. At Schneider Industries, we can perform live onsite or online only auctions verbally conducted by a professional auctioneer who knows and understands the products to be sold.
In addition to on-site auctions, Schneider Industries can facilitate the sale of assets solely online. If you have a plant that is still in production or are selling assets from multiple locations, an online auction is a great fit. By appointment, bidders can inspect the equipment and do their due diligence prior to the auction. An online auction provides bidders the ability to bid and buy from the convenience and safety of their home and office, providing the seller with a wider range of bidders.
Auction Process
Inventory:
• A highly detailed inventory list will be completed of all assets with photographs taken of each “possible” piece of surplus. This will take place immediately.
• A Lot Number will be assigned to each asset and any activity related to that asset is easily traceable by that lot number through the entire accounting process.
Marketing and Advertising:
The key to recovering maximum value lies in our ability to package your assets properly, and then quickly get details to the right users. To receive maximum value in equipment sales we need to market the right information to the right people. SI’s advertising and marketing program is designed to reach the greatest amount of end users possible. Schneider Industries will also network with the investment banking firms who represent buyers and sellers. We will contact business owners of similar companies. Dealers and engineering firms will be notified and are also important for buying certain items that end users may not.
Internet Listing – Create web content and post. Schneider Industries will post on our web page, www.schneiderind.com, your equipment photographs and detailed specs. You can visit our web site now and view other companies’ listings by clicking on their logos. We receive hundreds of hits weekly by people looking for pre-owned equipment and real estate. All terms, conditions, and other pertinent information will be available for customer convenience.
Telemarketing Campaign – Upon award of this sale, SI will implement a marketing campaign designed to reach buyers of businesses. The goal of this portion of the sale is to reach end users – not dealers – who will pay top dollar for the machinery. Calls will be made to companies/buyers to verify receipt of marketing material and to encourage attendance.
Journal and Newspaper Advertising – Ads can be placed in high visibility trade journals and newspapers announcing the equipment sale.
Email Campaign – Our comprehensive listings of past clients and parties who have registered to receive our sale updates exceed over 25,000. The email that SI will blast out to these customers brings hits to our site where equipment is listed. Also, the hundreds of thousands of bidspotter.com users will be informed of the sales through Schneider Industries’ relationship with www.bidspotter.com. Several thousand will get emails. Those that have signed up for the email notification are usually end users and dealers.
Social Media Advertising – Ads can be placed on LinkedIn and Facebook to drive awareness to a targeted group of customers in a specific industry and promote interest in the sale.
Field Operations:
Collection of Marketing Tools – With assistance from your staff, Schneider Industries will collect specs and photos of all available assets.
Client and Customer Relations – We will field all requests for information about the equipment including, capabilities, condition, date available, and scheduling of appointments for inspection of equipment.
Insurance – Schneider Industries utilizes the following programs: Comprehensive Business Liability, Workers Compensation, and Employers Liability. Coverage’s can be added if requested.
Payment and Collections – All payments will be made to Schneider Industries. SI will then account for all funds and present net funds less our expenses and commissions (described at the end of this proposal). All purchases will be made by wire transfers, cash, certified checks, money orders, or company checks.
Equipment Removal – Equipment is sold “As Is, Where Is,” but coordination is still necessary for removal. Under Schneider Industries’ management, buyers will be responsible for the removal of their equipment.
Plant Clean-Up – After the Sale, a broom swept facility can be handed back to Client.
Project Communication – There will be frequent communication with your management regarding the status of ongoing activities. The frequency and details of information provided can be as often and as in-depth as you request.
Accounting Overview:
Information Provided – After an asset has been assigned a lot number and sold, the following information is tracked from the time it is sold, invoiced and reports generated:
Sale Proceeds – Sale proceeds are collected by Schneider Industries. Once SI has validated the receipt of cleared funds, the buyer can remove the purchased asset.
Sale Reports – The following is a list of the reports generated for your review:
- Lot Book
- Buyer’s List
- Invoice
- Lot Sold Report
- Unsold Lot Report
To learn more about how Schneider Industries can auction your assets and help ease the liquidation process, contact us today!
