What are the benefits of selling assets through liquidation auctions?


There are times when it is necessary to make quite difficult decisions when it comes to our business. Try as you might, there may come a time when you need to go out of business and do so without merging, selling, or handing it over to another person or entity. When it’s time to go out of business, you will need to develop an exit strategy that is well thought out and followed along with a plan that will benefit you to the greatest extent possible. Part of that plan may be to sell some of your assets through liquidation auctions. Why is it a good idea to do this?

Before you begin to discuss the benefits of selling your assets through a liquidation auction, it is important that you understand that there may be other options available. It is always a good idea to discuss any exit strategy with your attorney and your accountant before making this type of move. There may be legal ramifications associated with closing your business that you have not considered. Your accountant will be able to help you with any financial problems or questions you may have so that you can go out of business with the least amount of financial impact on your personal lifestyle.

It’s also a good idea to take a good look at your assets and the inventory you have on hand. While it is true that using a liquidation auction will be the easiest way to sell your assets, there may also be some items available that would sell better elsewhere. This is also something you can discuss with your accountant to determine if you will gain any financial or other benefits from selling those items.

Among the specific benefits of using a closeout auction, one that will certainly be considered is the convenience of doing so. You are likely dealing with a very stressful situation while closing your business and the last thing you would like to do is add a lot of stress to it. Using an auction allows you to put most or perhaps even all of your assets on the auction block and have them taken care of that way. There will still be some sorting that will be necessary on your part, but if you don’t have to worry about the stress of selling those items individually, you will be far better off.

There are also additional benefits to consider because they can help alleviate some of the stress of the situation and allow you to fully liquidate your assets. Those benefits include the marketing that is available to allow you to reach a much wider audience. There is also the certainty that the items will sell and many full service auctions have regular followers who may be looking for exactly what you are offering. So if the time has come to close your business, consider using an auction to liquidate your assets and reap the financial and stress management benefits that are available.

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