While we may be best-known for our efficiently run live auctions, Hilco Industrial offers several methods for the disposition of machinery and equipment assets.
Determining the Strategy
After reviewing the assets and the circumstances surrounding their sale, Hilco will recommend a disposition strategy which may include one or more of the following methods:
Many machinery buyers like to attend a traditional live auction and Hilco's are the industry benchmark. But for buyers who don't want to travel to the auction site, we've developed the Hilcast system, which enables users to watch and listen to the auction online and bid via phone for the most accurate bidding experience. Find out more about how Hilcast Auctions work in our FAQ's.
Timed auctions run completely online, in the style so many bidders are familiar with from major online sellers like eBay™, these auctions offer a simple process for buyers and sellers alike. Learn more about Hilco online auctions.
Private Treaty Sale
A professional Hilco sales representative will negotiate individually with the potential buyers of assets in these sales, creating a more private and discreet experience. While lacking the excitement of live competition, these sales are often managed over a longer period of time and appropriate for more specialized assets with a smaller buying market.
Once the best method (or combination of methods) has been determined, Hilco begins on the next step, for which it is famously respected in the marketplace:
Our outstanding marketing team consists of experts in every discipline, whether print or digital, traditional or cutting-edge. Our unsurpassed expertise and constant research allows us to identify the best resources in every market and to find new ones as they become more widely known. We'll establish a budget and implement the plan to start reaching out to the most qualified buyers in each market using any or all of the best media for that market, which may include:
- Email to applicable segments of our list of over 200,000 registered buyers
- Direct mail to applicable segments of our list of over 100,000 interested buyers
- Newspaper and trade journal ads
- Website exposure and search engine optimization and marketing
- Social media sharing
- Banner ads on industry-related websites
- Exposure via web and mail to members of associations affiliated with the industry
These are only a few of the sources that the members of our creative marketing team may employ our on clients behalf.
In conjunction with the marketing efforts, Hilco professionals will be deployed onsite to perform different functions depending on the type of sale strategy.
- Machinery will be cleaned and prepared to enhance value.
- Assets are photographed and cataloged.
- The site is prepared for live auction participation, if applicable.
- Signage is posted.
- Personnel will coordinate and lead inspections of the equipment.
Each sale presents its own unique set of circumstances and Hilco professionals are equipped to deal with them all.
Conducting the Sale
Whether live or silent, public or private, the process of selling machinery is a dynamic one, requiring the dedication of a team of specialized individuals.
- For a live Hilcast event, you can bet that you will have the best auctioneers in the business calling the sale, with professionalism and style. Onsite customer service and accounting staff will ensure that the sale is run smoothly.
- For online events, our customer service staff is second to none, providing 24/7 support to the worldwide audience of buyers.
- For private treaty sales, the dedicated Hilco Project Manager invests personally in creating a relationship with not only his client but also with each and every potential buyer, guiding the process to ensure the best outcome.
Finalization of Sale
While Hilco remains invested in the companies it serves, we ensure that you can close the books on your asset sale as quickly as possible.
Our outstanding accounting team will work hard to:
- Collect funds immediately after the sale
- Perform a complete accounting of the sale including customized reports
- Ensure that any required taxes are paid to all government organizations
Our onsite team will continue to support the sale as well:
- Facilitating removal so that buyers remove their purchases from the site in a timely manner
- Communicating with riggers providing services to ensure that they adhere to site regulations
- Making sure that the site is left in the condition agreed upon with the client
Each process is unique and our operations team is adept at handling every possible scenario. From leased equipment to real estate complications to work in process, Hilco can develop a plan to monetize your assets that works for you.
Hilco can construct the perfect disposition plan for any variety of assets. Contact us to start the process today.
Case Study: Motors Liquidation Company (formerly General Motors Corporation)
Following GM's bankruptcy declaration in June 2009, Hilco Industrial was hired by Motors Liquidation Company to design, implement and execute a two year sales and marketing process for assets within 21 manufacturing, assembly and R&D facilities slated for complete liquidation. These 21 facilities totaled over 30 million square feet, with the largest at six million square feet, and were located throughout the Midwest. Read more.