What Is A Hospitality Asset Clearance Auction?
A restaurant furniture auction or hotel liquidation auction is an auction of your unused assets which have been removed from your hospitality establishment. This can include anything from hotel room minifridges and bedside tables to restaurant chairs and kitchen equipment. Bringing your assets to auction in this way means you can reclaim some profit – for example, to reinvest in your establishment during a refurbishment.
The auction process can feel daunting – how can you make sure you work with a trustworthy auction house and ensure you get the best possible deal? At The Hotel Clearance Company, asset auctions are a huge part of what we do, so we already have strong partnerships with leading specialist auction houses.
Prior to auction, we’ll conduct an in depth review of your assets to ensure an auction is the best place for them. We also have a ‘little black book’ of qualified regular buyers who buy via private treaty sales, and strong business relationships in recycling otherwise obsolete equipment.
When Are Hospitality Asset Clearance Auctions Used?
Hotel furniture auctions are most commonly used during a refurbishment project or liquidation where a hospitality premises, such as a restaurant, café, club, hotel or pub, requires assets to be removed. At The Hotel Clearance Company, we use asset clearance auctions as part of our furniture clearance service.
Asset clearance auctions aren’t just reserved for big projects where all assets in your establishment are removed. You can bring smaller amounts of items to auction, for example, if you’re upgrading a television in your reception area or replacing the furniture in one of your hotel rooms. However, in these situations, you may be better off selling via a private treaty sale. Luckily, we are here every step of the way to advise and help you get the best deal.
What Can Be Sold At A Hotel Liquidation Auction?
There is a buyer for everything, so practically everything in your hotel or restaurant can be sold at a hotel liquidation auction depending on its condition. High-value items like kitchen and catering equipment and bulk amounts of high quality furniture see the most success at hotel furniture auctions, but anything in your hospitality establishment (including the kitchen sink) can be sold here.
Furniture (beds, desks, chairs, and sofas), appliances (fridges, freezers, ovens, dishwashers), electronics (computers, printers, televisions), catering equipment (cutlery, commercial ovens, crockery), and linens (bed sheets, tablecloths, pillow cases) are some of the most common things we bring to auction. Anything from exercise equipment to artwork can be sold at auction, ensuring you are able to get the best possible financial return from your assets.
How To Prepare For A Restaurant Furniture Auction
Preparing for a hotel or restaurant clearance auction involves several critical steps to ensure the process runs smoothly, minimising disruption to guests and maximising efficiency. Start by planning ahead to mitigate any potential impact on your guests. If the clearance is for a refurbishment, consider closing only certain parts of the venue at a time to continue generating income. Communicate clearly with guests about any closures or changes, providing ample notice for cancellations or adjustments.
Next, assess your staffing needs during the clearance, which might differ from normal operations, and conduct a thorough inventory of all items to be removed. This will help determine what can be sold at auction, and what needs to be donated, recycled, or disposed of.
Partnering with a trusted clearance company, like The Hotel Clearance Company, can streamline this process. We develop a tailored clearance strategy, manage the inventory, and ensure proper handling of your assets prior to auction. This also means you don’t need to worry about finding somewhere to securely store your assets or safely transport them during the auction process – we handle this for you.
Benefits Of Hospitality Asset Clearance Auctions
So, why not simply recycle or dispose of your unwanted assets?
The short answer is that selling your hospitality assets at a pub furniture auction will maximise your financial return, making this a much more commercially beneficial option. We do see businesses choose to dispose of unwanted assets at a landfill to save money on storage, which is why we store your assets for you as part of our hospitality clearance service. Our secure storage facilities are monitored 24/7 by CCTV and anti-theft devices. By minimising your storage costs, we’re able to make selling at a hotel liquidation auction far more financially viable for you – also saving you money on landfill taxes and minimising the impact on the environment.
Selling assets at auction rather than through a private treaty sale also offers several advantages:
- Speed and Efficiency
Auctions are typically faster processes compared to private treaty sales. The auction date is set, and once the auction is held, sales can be concluded quickly. This is particularly beneficial when a quick turnaround is needed, such as during a hotel or restaurant clearance.
- Competitive Bidding
Auctions create a competitive environment where buyers bid against each other, potentially driving up the price. This can result in higher sale prices than might be achieved through private negotiations.
- Transparency
Auctions are open and transparent processes. All bids are public, providing a clear indication of the asset’s market value. This transparency can be reassuring for sellers looking for a fair market value.
- Broad Market Exposure
Auctions attract a wide range of potential buyers, including those who specifically seek out auction events for purchasing opportunities. This broad exposure can increase the chances of selling all items, even those that might be harder to sell through private treaty.
- Definitive Sale Date
With an auction, there is a set date for the sale, which helps in planning and reduces the uncertainty that can come with private treaty sales. You know exactly when the sale will happen and when you can expect to receive the proceeds.
Hospitality Asset Clearance Auctions With The Hotel Clearance Company
If you’re looking to discuss your hospitality clearance requirements in more detail, get in touch with The Hotel Clearance Company. Whether your business is due to go through a refurbishment, a change in property use, or you are liquidating assets, we are here to help. We specialise in maximising financial returns for our clients through the use of pub furniture auctions, hotel liquidation auctions, and restaurant furniture auctions.
Our expert team can be contacted by calling 020 8123 8241 or visit The Hotel Clearance Company and fill out our online contact form.