What is Liquidation Auctions?
Liquidation auctions refer to the selling of assets by a company; the assets can be office furniture, unsold inventory or any valuables that the company owns. Liquidation auctions can be voluntary or an involuntary event by a business. The business can have an involuntary auction, because of legal judgment or due to bankruptcy. Just like any other auctions, bidders have an opportunity of snapping-up products at deep discounts.
When it comes to liquidation auctions, companies sell their goods to raise funds for its creditors. However, there are cases where different kinds of auctions are referred to by the same name. For instance, the term liquidation relates to surplus or government auctions. Liquidation auctions is a term used to apply in different auctions as it “means everything must go."
If a business is offering a closeout sale to close down the shop, liquidation auctions are the way to go. An external auction house manages auctions whether it’s a voluntary or involuntary auction.