There are many reasons why companies want to sell their
furniture and it is not necessarily financial downturn. Whatever is the reason,
every company tries to get the most out of its old furniture. In short they
want to make as much money selling their old furniture as they can. However in
order to achieve that they need help of a qualified and experienced office liquidation company. Here are 10 things you need to know about the
entire process.
1. The first thing you need to do is making a list
of all the furniture in your office. Although none of the liquidators will ever
quote a price until physical verification of every item, they will really
appreciate the detailed list of items up for office liquidation. Make the list with item name, date of
manufacturing as well as purchase, current photograph if possible and technical
specifications with brand name. You can use the list to check out different
liquidators and what they offer.
2. Decide why you want to liquidate your office
furniture? Is it because you are closing down? Is it because you are moving out?
You can choose the type of liquidator depending on your needs. For example if you
are renovating then you don’t need just liquidators but you also need office space planning expert. There are
companies offering both services. This way you can complete renovation at
faster speed saving money and time both.
3. You will need to decide your bargaining strategy
before liquidators start making rounds of your office. If you ask for too less
you will lose money and if you ask for too much your furniture will sit on the
market for really long time reducing the chances of fetching good price. Here
is the thing; office liquidation is
much like selling your used car, a BMW is going to get better price than a
comparable Chevrolet. This means set a fair price for your branded furniture.
4. You can’t look desperate (unless you are selling
your furniture to avoid bankruptcy) while liquidating your office furniture
since desperate sellers make paltry profits. You can do some online research
and check what price similar furniture items have fetched lately and set your
price a little higher than that. This will allow you to bargain down your price
a little.
5. It is important to approach more than one liquidator
if you want to leverage your position as seller. That’s why you will need to do
dome research and approach highly competitive companies in this business. You
can also check of if the liquidator provides ancillary services like office space planning, interior
designing and more.
6. You will need to prepare your furniture for the
initial inspection by the liquidators. No one will make an offer unless they
have inspected your furniture thoroughly. Since this is important step in office liquidation, you will need to
perform minor repairs if necessary. Used furniture in bad shape will not be
sold at all. Sometimes one particular piece of unattractive furniture can hold
off the entire deal.
7. Check if the liquidator in question has enough
men and equipment to move out the furniture. You should also check whether the
liquidator will move your furniture for free. Some companies may deduct the
cost of moving and dismantling from the cost of furniture. In short the entire
payment structure should be checked before signing the contract.
8. Bigger the quantity of furniture faster it will
be sold and hence higher price it will fetch. In fact liquidators are not very
keen of single items since these stay on the market too long. Office liquidation business is mostly
based on dealing in quantities of chairs, desks, cabinets and office cubicles. Consistency
also matters, meaning its better if all the items are of the same brand and
same manufacturing year.
9. Once a liquidator has evaluated all of these
facts they take the estimated resale value and subtract shipping and storage of
the product. Once they have subtracted these figures they will then figure the
percentage of maintaining roughly 20% net afterword. What is left over is the
true value of the product i.e. the amount you will receive.
10.A good and professional company will offer you
more than one office liquidation solutions
keeping in line with your priorities.
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