Navigating Auction Setup Challenges Throughout Tornado Damaged Site

Key Points
  • Client’s manufacturing building sustained damages by tornado in the area
  • Company forced to liquidate conveyor systems as client refused to accept potentially compromised inventory
  • Auction setup logistics were difficult operating in open-air from a building with missing walls and roof
63
Registrants
296
Lots
1
Auction
Days
60
Day
Execution
3
Countries

The client, who is a major manufacturer and distributor of conveyors in the Unites States, operates two buildings in Trumann, Arkansas. After the area was devastated by a tornado, one of the buildings was significantly impaired and became inoperable. Some of the equipment was damaged beyond repair and needed to be scrapped or sold for parts. Most of the committed inventory remained intact; nevertheless, it needed to be sold because the buyer – the world’s largest online retailer and marketplace provider – refused to accept any potentially compromised inventory. The company filed an insurance claim for damage to its stock and engaged a liquidator to help monetize the remainder of the assets.

Setup logistics at this site was complicated. The company was still operating out of the building that didn’t sustain any damage, leaving our team to shuffle equipment around the building that was damaged by the tornado. Since the building no longer had a roof and several missing walls, our team, as well as the equipment, was exposed to outside weather conditions, including heavy rainfall. This certainly posed significant challenges and delays for auction setup, especially with the pressure of a constrained timeline dictated by the landlord to have the building rebuilt. Despite these tough conditions, we completed the project in 60 days.