Wholesale liquidation auctions sell the goods of a bankrupt company to raise enough funds necessary to satisfy creditors. In some cases, the company may not be bankrupt, but they may schedule a surplus auction if they have an overstock of a particular item. Companies that are in the process of consolidating or downsizing may need to get rid of excess items like desks, chairs, computers, printers, or even corporate vehicles.
When businesses close, wholesale liquidation auctions are a natural part of the process. In fact, according to Heavy Duty Trucking magazine, wholesale liquidation auctions led the used truck market recovery in September as businesses unloaded their stocks of commercial vehicles and buyers snapped them up at wholesale prices. Sometimes businesses voluntarily opt to sell their goods, while other times they may be forced to do so in bankruptcy court. Stock such as office furniture, supplies, artwork, electronics, and vehicles may be auctioned off.
Consumers can find amazingly good deals at wholesale liquidation auctions where the idea is to get rid of as much stuff as quickly as possible. In other words, like a small scale garage sale, goods are “priced to sell.” Some auctions sell off items “as is,” with a sort of “buyer beware” clause attached. Other high-quality wholesale liquidation auctions will allow inspections ahead of bidding so consumers know they are getting items that are in excellent condition. In some auctions (notably art auctions), prices can be driven artificially high by increased demand and successive bidding, but more often than not, wholesale liquidation auctions have so much stock that consumers tend to get superb deals.
How Does One Find Out About Wholesale Liquidation Auctions?
Usually wholesale liquidation auctions are advertised online or in newspapers. Consumers can join mailing lists, or subscribe to an auction’s Facebook and Twitter pages. It’s a good idea to visit a wholesale liquidation auctions website’s catalog or calendar every week to see what new auctions might be advertised. Ideally, you’ll be notified early enough to scope out the items you’d like to bid on — and, if you’re local, to inspect the items at an Open House before the bidding even begins.
For more information on wholesale liquidation auctions from DynaCorp, visit us online at http://www.dynacorpauctions.com/blog/, email us, or give us a call at 888-333-4340. We’d love to speak with you about liquidating your business or helping you find top-quality items to bid on.