fulfill the legal requirement by the landlord"
Currently Daniel Clar Auctioneers is handling the liquidation of furniture, fixtures, equipment and retail merchandise of Premier Cru in Berkeley, CA. The company closed earlier this year and filed bankruptcy. Since closing, pertinent paperwork was removed from the facility. In addition, 79,000 bottles of wine were auctioned by the bankruptcy court and removed from the property. Other than the paperwork and wine, the entire contents of the showroom, offices and warehouse remain. By law, these remaining assets must be liquidated at a public auction.
Public Safety First:
In the case of Premier Cru, the biggest obstacle was the removal of non-salable debris. Our staff sorted and recycled over 1,000 cardboard boxes, hundreds of empty wine bottles and boxes of non-sensitive office files. Debris removal is a necessary part of ensuring a safe public auction and a clean facility after the auction is complete.
Water and utilities are often turned off when commercial properties have been sitting for long periods of time. Last winter we conducted an abandoned property auction at a commercial facility in Walla Walla, WA. Upon arrival, there was no electricity, water or heat at the facility. Temperatures in the area were at or below freezing. It was necessary to work with the local utility companies to provide a safe environment for the auction day. While conditions are not always the best, public safety should always come first.
Typically, the auction company has a limited amount of time to promote the sale. In our experience, the window to advertise, promote and assemble a list of potential buyers is approximately four weeks. An experienced auction company has proven marketing plans to assure well attended sales with quality buyers.
Inventory and Sale:
Taking the time to organize and sort all assets and creating a comprehensive inventory is essential for a successful sale. Items are placed strategically at the site to secure the items, aid in the pace of the sale.
Abandoned property is something most owners eventually deal with when renting their commercial buildings. Hiring an experienced auction company that has the resources to clean up and liquidate the property will save you time, expense and make the property ready for lease or sale.
Daniel Clar is an industrial equipment auctioneer and appraiser based in California. He provides liquidation and appraisal services through out the western United States.