Customer Problem / Need
Customer’s sole client decided to end contract and begin doing the specific job in-house after a corporate re-organization twelve months after a change in ownership.
The customer needed to quickly sell the entire plant full of assets to enable him to sell the building and real estate.
Older large capacity CNC dual spindlevertical turning lathes and machining centers located in a geographically remote area that is challenging for asset removal logistics which was compounded by the clients need to quickly empty and clean the facility to sell the property.
The solution we found to this challenge was to engage a reputable logistics company to remain onsite to handle the de-installation, rigging, and loading of assets sold at the auction that. Additionally, the logistics company we used also coordinated most of the trucking to stay ahead of timing deadlines.
The client had been turning and machining a large quantity of assorted-sized iron automotive brake drums for a large-area foundry since 1996.
Total Plant Area: Approximately 20,000 square feet of manufacturing space and had an additional 7,500 square foot building for brake drum storage.
Expense Budget: $30,000
Outcome: The one-day online-only auction realized about $345,000 of gross proceeds for the client which was the very high side of our presale estimates.
All lots offered were sold during the auction cycle and removed within the two-week post-sale window we had to operate in.
The clients building was left broom swept and ready for sale up on our exit of the facility.