Auctions

Steps to a Successful Auction

On-Site Inspection

A complete detailed inventory list of assets including photos and agreed upon value.

Marketing

A first class direct mailing of color brochures using our extensive customer database that is the result of 18 years in the food processing equipment business.

Publications

We use trade journals and area newspapers that allow us to target both the specific industry and potential local customers.

Online Website

Online sales have become a major asset in both advertising the auction and allowing customers to a view photos and details of the equipment prior to the sale date from the comfort of their own office.

Set-up

Regal Equipment prepares the auction site, arranging equipment, assigning a lot number to each piece of equipment and recording a complete description including photos to assist in the online bidding and auction catalog.

Inspection Period

One to two days prior to auction date Regal Equipment will supervise the inspection of the equipment by prospective buyers. This also allows Regal Equipment to register and pre-approve buyers.

Auction Day

Regal Equipment registers all bidders and each bidder receives a number and auction catalog. A knowledgeable, licensed auctioneer reviews the terms and conditions before the sale begins to ensure that everyone understands his responsibilities. Every aspect of the auction is geared towards ensuring the highest return to the client.

Live Internet Auctions

Real-time internet technology allows us the ability to broadcast auctions over the internet and online bidders can participate in these live interactive auction broadcasts as if they were physically present at the auction. This service also allows bidders to review auction catalogs before the auction day and place absentee bids.

Settlement and Equipment Removal

Regal Equipment will organize and manage the removal of assets and coordinate with riggers if necessary to make sure that all assets are removed within the timeline set forth in the terms, and that the property is left in suitable condition. Regal Equipment will provide the seller with a copy of all the transactions including a list of all registered bidders and all assets sold and their sale prices and a total sale amount. Regal Equipment will remit funds less negotiated expenses within the agreed upon period to the seller.

Liquidations

Liquidation is a situation where the assets best return is a negotiated sale. This is a case where the assets are best sold as a complete facility of specialized equipment. Regal Equipment will organize and manage all aspects of any on-site liquidation. From initial evaluation following a detailed inventory and valuation of assets through documentation and pricing. Regal Equipment will contact the buyer and negotiate the transaction between the buyer and the seller using their experience in the market place to produce the best return for the seller.

Regal Equipment, Inc. specializes in quality reconditioned equipment for the Canned, Vegetable and Fruit Processing Industry. We can supply your company with single pieces, complete lines or entire plants.