We are closing the shop and have a warehouse full of equipment. I just want it gone so I can hand over the keys. Is it a mistake to just list everything on a local auction site starting at $1? I know we will get pennies on the dollar, but the clock is ticking and storage fees are eating what little cash is left.
Liquidation
Selling off equipment for pennies on the dollar just to clear the space
If you have a forklift or pallet racking, those will actually sell. The rest of it? Honestly, a $1 auction might be your best bet just to avoid the dumpster rental. Just make sure the buyer handles removal.
Have you considered a business liquidation company? They take a cut but handle everything. Might net you more than pennies if they know the market.
I did the $1 auction thing two years ago. It worked, but I spent three weekends dealing with no-shows and people who wanted me to deliver a commercial oven for free. Set clear terms: pickup only, no loading help, cash only.
Depends on what kind of equipment. If it's generic stuff like shelving and desks, you're right to just clear it. If it's specialized machinery, you might be leaving money on the table.
Pennies on the dollar beats paying rent on a building you don't need. I wouldn't overthink it. Just get it done.
Rusty_Bolt_42 mentioned a liquidation company. I looked into one for a client and they wanted 30%. That's steep, but they did handle the liability. For a smalll shop, might not be worth it.
Try a local auction house that does industrial stuff. They often have a following of resellers. Better than eBay for big items.
Also, document everything you sell. Get a bill of sale with 'as-is, no warranty' language. Last thing you need is someone coming back after the doors close.
Thanks for the input. The specialized stuff is a few CNC machines. I think those might be worth a proper listing, but everything else is going on the $1 pile. I'll make sure to specify pickup only and no loading.
If you have CNC machines, definitely dont penny those. Even old ones can bring a few thousand if they run. Just be honest about their condition.
Yeah, those CNCs are a different story. Don't lumo them in with the shelving. You might actually get a decent return on those if you clean them up and take good photos.
And if the CNCs don't sell by the deadline, then consider the $1 route. But don't start there.