How to Liquidate Your Office Items
Our clients are often interested in liquidating their items and we wanted to provide some recommendations around the process. Liquidation in general is a great way to dispose of excess inventory. Liquidation does not always mean a company is going out of business. It can also be part of regular business operations or an office relocation.
Rules of Liquidation
A business can only liquidate items that the business owns outright. This could change based on specific written permission but typically you cannot liquidate items purchased on credit if there is an outstanding balance. Please be aware that if you do liquidate items purchased where there is an outstanding balance this could be considered an act of fraud. It’s important to also set fair prices when liquidating goods is part of an exit strategy. Even if you own the good outright, other creditors expect payment. It can be considered fraud if you are putting your personal interests ahead of business creditors.
Third-Party Liquidation Services
There are also third-party liquidators you can use as another way to liquidate goods and business assets. Third-party liquidators offer a variety of options, including store returns, bankruptcy liquidations and excess inventory. One thing to note is that third-party liquidators typically offer a significantly lower than wholesale or market value. There is still value in using them because they can make the process efficient while also creating room in your for the goods the business can sell.
Hold Liquidation Sale
When going out of business, holding a liquidation sale can be a good strategy. However, do not do this unless you are truly going out of business. It is unethical to hold a liquidation sale otherwise and in most states there that are strict liquidation sale regulations. Check with your state attorney general to understand what laws exist in your state.
For a quick and professional move that prioritizes your needs, contact Washington Express Movers. We’re Washington DC’s top choice when it comes to commercial moving. We’ll pack your items, move them and even unpack them to save you the hassle. After all, we want to make your move as easy as possible.