What is a Liquidation?
GearSource receives numerous calls from sellers who have large lists of equipment they are looking to sell. Most of the time, they are looking for pricing guidance and advice on how to list the items on our site. Our knowledgable customer service people will work with a seller to determine what the gear is worth and how best to sell it. This does not qualify as a liquidation, this is simply the process of selling your gear yourself.
A liquidation is when a company is seeking to divest of some or all of its gear. For example, a rental or production company with multiple locations may need to close some of its locations but doesn’t have the space to retain all of the inventory. In this case, the equipment would be purchased at a discount by GearSource, who specialize in selling used production gear, to be resold through our standard network.
For a list of gear to qualify as a liquidation, here is the basic criteria:
• the seller must be willing to sell at below market-price to move a large mount of equipment in less than 45 days
• the equipment would have to have a “liquidated” value of over $25,000
• the list of items to liquidate must exceed 50 individual line items
• the seller must commit “exclusively” to GearSource as the Marketplace for the term of the liquidation.
What liquidation programs do we offer?
With locations in North America, Europe and Asia, GearSource is set-up to get the best possible results from a Liquidation sale. GearSource.com® has liquidated everything from small production companies to multi-million dollar operations; from truckloads of equipment to 100,000 square foot facilities. Here are the Liquidation Programs we offer:
Personally Managed Liquidation: meant for extremely large single or multiple location warehouses, where a GearSource Liquidation Manager is physically on-site to facilitate the rapid sale of your equipment. The seller will provide staff to test, photograph and stack the equipment in an orderly fashion before the GearSource Liquidation Manager shows up on location.
Using the GearSource.com® comprehensive database of equipment values, and taking into account the liquidation timeline, our liquidation manager will determine the market pricing for the items. The gear will be featured in an exclusive sale area on GearSource.com® and the sale will be marketed extensively.
GearSource.com® Special Sale: similar to a Personally Managed Liquidation, without a GearSource member on location. The obligation falls to the seller to test and prepare the equipment being sold. Liquidation pricing will be established by a GearSource representative and the exclusive website sale will be set-up and marketed extensively.
Liquidation Partner Network: GearSource has a series of strategically located liquidation partners. Our partners, by contract, have liquidation funds available in the event that a person or company needs to sell their equipment quickly. Situations that might be included in this liquidation scenario would include a bankruptcy, breakup of a partnership, off lease equipment, too much inventory and too little personnel to manage a sale.
What’s the process and how do I get started?
Once we’ve reached an agreement on which liquidation program is right for you, we will begin evaluating the lists of equipment you provide to us; we’ll set the pricing structures and you will start taking pictures. You will be assigned a Listings Integrity Specialist who will help you get started in setting up your profile and formatting your lists.
Liquidation Sales will be heavily marketed through our network of media outlets, social media, and our own global network of customers.
To discuss a liquidation…
e-mail: [email protected]
toll free: +1.866.669.4327 (GEAR)
Other marketing inquiries: [email protected]