What requirements did Apex Auctions fulfil?
Apex Auctions were instructed to facilitate the large plant closure on behalf of Baker Hughes, at their Bridge of Don facility in Aberdeen, UK. Due to the plant closure, there were 2276 catalogued items that needed to be sold and removed from the facility within a six month period. The sale included multiple many high value mazak, top turn model and tuscan CNC heavy duty machines. The team undertook an extensive valuation and cataloguing process ahead of the multiple sale close dates.
Items sold above reserve
How did Apex Auctions' process align with the oil and gas giants' requirements?
The auction included a huge amount of similar machinery sold across a three phase sale that took place on our in house bidding platform and included over twenty late model Mazak CNC Machines & Machining Centres commonly used in the oil and gas, and energy sectors.
Other items included a variety of CNC & manual lathes, honing & boring machines, as well as granite surface tables, nitrogen generators, saws & saw benches, electric discharge machines, spray booths, tool grinders, chemical plating machines, pipe benders, overhead cranes, reusable material stock and more equipment used by the multinational oil & gas service provider.
Apex Auctions were adaptable, when more lots were added to the sale we were able to extend the sale to three separate phases, ensuring the team was able to give the sale the focus it needed in all relevant areas:
- Three phased auction achieving 99% of items being sold above reserve
- Extensive valuation process in accordance with RICS Appraisal & Valuation Manual
- Successful multi-touch, omni channel marketing campaigns targeting the energy and oil and gas verticals.
What was the outcome of the project for Apex Auctions?
As a result of our campaign for this auction, we attracted 580 registrants, who placed 23,736 bids across 2276 lots.
The sale was a great success, with ninety nine percent of items selling at or above reserve, meaning that the client achieved the margins they needed to make sale a viable option to their business.
Apex Auctions are committed to providing a quality, transparent service for businesses looking to buy, sell or manage their assets. Should you wish to request a valuation please contact the team, who will be best placed to advise.