The reasons and benefits of liquidating warehouse equipment are many. Whether you’re looking to get some quick, extra cash, make room for new equipment, or even sell the building, warehouse liquidators allow for an easy and beneficial method for getting rid of warehouse equipment. Attempting to sell equipment on your own can be tough and tedious. Trying to find buyers on your own is time-consuming. Mostly you don’t get as good of a deal as warehouse liquidators will be able to get. When preparing to go through the process of liquidation, here are some things to keep in mind.
Deciding What Equipment to Liquidate
One of the first things to do before starting the process of liquidation is to decide what equipment will be liquidated. It’s crucial to realize that not every piece of equipment can be liquidated. Here are some of the warehouse equipment liquidation services that are available:
- Racking liquidation (pallet racks, cantilever racks, drive-in racks, pushback racks, etc.)
- Conveyer liquidation (roller conveyors, belt conveyors, merge conveyors, chute conveyors, etc.)
- Mezzanine liquidation (free standing mezzanines, shelving supported mezzanines, rack supported mezzanines, etc.)
- Warehouse shelving liquidation (backroom shelving, steel shelving, rivet shelving, bulk rack shelving, etc.)
- Carousel liquidation
Apart from these, some other miscellaneous items that can be sold are:
- Forklifts
- Workbenches
- Lift tables
- Yard ramps
- Balers
- Stretch wrappers
- Pallet jacks
- Rolling ladders
No matter how big or irrelevant an item may seem, getting rid of it by selling it can release a lot of free space in your warehouse.
Make a Liquidation Schedule
Once you have put aside the items for liquidation, it’s necessary to ensure everything is done timely. An entire liquidation process involves many steps. Experienced warehouse liquidators suggest creating a schedule with clear deadlines as it helps ensure everything is done in an orderly manner. This becomes especially necessary when the goal is to raise money in a certain amount of time.
When creating a scheduling, here are some important steps to include and set deadlines for:
- Expected move-out date
- When the equipment is dismantled
- When each item is cataloged and photographed
- When all the items’ values are decided and set
- Date for listing the items for sale
- When the equipment that cannot be liquidated will be discarded instead
Cataloging is crucial – every item being liquidated has to be listed, along with its condition. The item will also need to be photographed from multiple angles. This takes time, especially when the catalog list is long. Due to this, creating a schedule for this activity and sticking to it is crucial for getting through the liquidation process on time.
After every item has been cataloged, you will need to decide the value of each of them. In all fairness, you may want to price each item as close to its original price as possible. This is not technically wrong, and if the item is in near perfect condition, this can be done. However, if the value of an item is unrealistic, it can cost you a sale. One way to avoid this is by consulting professional warehouse liquidators for an appraisal.
After every item has been cataloged and valued, it’s time to sell it. Industrial liquidation services aid you every step of the way, including the in-person or online auctions held to sell your items. Apart from auctions, there are numerous other ways to sell your items – local media listings, websites dedicated to commercial equipment selling, and associated industry websites. The effectiveness of the method employed depends on how many people you’re able to reach. One of the most intelligent ways to sell your items is through an online platform, as it allows access to a wider audience. Doing this ensures better sale prices. At this stage, transportation of the equipment is another task to prepare for.
What To Do With Items You Cannot Sell
As we have previously established, not every item can be liquidated. Apart from this fact, there exists a likelihood of some items not being sold despite your best efforts. For such items, you will need to figure out a method of disposal, and it’s not as easy as just disposing of them. Finding a space for them back in your warehouse is definitely not an option either. They will take up unnecessary space. Not only is it bad space management, but these items will also pose a safety risk to workers.
There are strict local, state, and federal rules that oversee proper disposal that will not harm the environment. For instance, electronic waste can let out a lot of chemicals and metals that are detrimental to the environment. To avoid this, government guidelines need to be followed for proper disposal. In case of any violations, warehouse owners can be faced with a huge fine. Make sure to do your research or reach out to a professional for guidance on how to go about this step.
Michaels Global Trading is one of the leading names in liquidation services. We help you throughout the process, every step of the way. Worried about how to choose what products to liquidate? Paranoid about not valuing the items correctly? Looking to set up a warehouse equipment auction for your items? Look no further! Michaels Global Trading specializes in warehouse equipment, assisting in resale, refurbishment, and more! Visit our website to get in touch with us today!
