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Out of Business Auction Partnering With the Right Auctioneer


Out of Business Auction What is a Going Out of Business Auction? • Unable to merge or sell a company • No choice but to liquidate It’s an exit strategy that must be analyzed before you pull  the trigger. Your attorney and accountant can help you through the  liquidation process and how you can legally do it.


Out of Business Auction Why Use a Going Out of Business  Auction? •Struggling companies usually have a retail sale to  dispose of inventory. •Inventory is hugely discounted in order to liquidate. •Remaining assets and inventory auctioned to public.


Out of Business Auction Hiring an Expert to Conduct Your  Going Out of Business Auctions •Working with an experienced auctioneer will get you  the highest return. •Must have expertise in the type of assets you will sell. •Develop a short list of auction companies and request  proposals to determine the best fit.


Out of Business Auction Hiring an Expert to Conduct Your  Going Out of Business Auctions •The following criteria will help you narrow choices: – Experience.  As noted above, you want an auctioneer  with applicable and proven experience in conducting  auctions with your assets. – Reputation.  You need to carefully research an  auctioneer’s reputation in the industry.


Out of Business Auction Hiring an Expert to Conduct Your Going  Out of Business Auctions •The following criteria will help you narrow choices: – Facilities.  If you’re conducting the going out of business  auction at the auctioneer’s location, are their facilities adequate  and convenient for participants to access? – Insurance and Licenses.  You need to make sure your assets  are adequately covered while at the auctioneer’s location.


Out of Business Auction Closing your business and liquidating your  assets can be difficult and overwhelming. But, partnering with a well­qualified  auctioneer can help you streamline the  process and get the most money for your  assets.


Out of Business Auction About the Author Deb Weidenhamer is President of Auctions Systems  Auctioneers & Appraisers, Inc., based in Phoenix,  Arizona. They specialize in auctions and  professional appraisals. For more information about  Out of Business Auctions, please visit us at  http://www.auctionANDappraise.com/.

Auction Systems: Out of Business Auction - Partnering with the Right Auctioneer  

A going out of business auction usually takes place when you’re unable to merge or sell your company. In this case, you may have no choice...

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