Determining The Nature Of Your Assets
When taking the time to assess your personal and professional financials, considering your assets lays the foundation for your final determination. The nature of your assets can help to determine a number of things from net wort and financial strength to liquidation value.
In terms of a closeout, bankruptcy or liquidation determining the nature of your assets can also help to determine the nature in which they are sold. An experienced liquidation company will work to ascertain a number of factors to ensure that the assets and excess inventory are liquidated in the most time efficient and cost effective manner.
Since different asset types can govern the way in which they are sold here’s a list of asset types and what they entail.
Property – In regards to business this category only includes properties that bring in a source of income. Where business assets are concerned a person’s home does not fall into this category.
Inventory – This includes anything the business intends to sell. For a beauty supply store this could mean anything from skin care products and cosmetics to accessories and electrical appliances. In a closeout or liquidation these items can be sold off in one large sale or piece by piece. Auctions are also a common venue for the sale of such items.
Equipment – This includes anything that helps in the day to day running of the business. This could include desks, computers, cabinets or heavy machinery. Once a company goes out of business lots of businesses show interest in obtaining used equipment for cost savings.
Art/Memorabilia – In an estate sale it’s not uncommon to encounter antiques, heirlooms, art, and memorabilia. Working with an experienced liquidation company with licensed appraisers on staff will ensure that this type of asset is fairly and accurately valued before a selling method is selected.
By determining the nature of a person’s assets a professional liquidation company like Ideal Trading can recommend the best course of action. By designing a custom solution to each individual customer Ideal Trading is able to provide the highest returns.
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