WELCOME TO JENNINGS ASSET LIQUIDATIONS
Before We Begin
Unlike traditional live auctions or eBay online only auctions, Jennings brings you a piece of every aspect of the auction buying experience. We are a little bit traditional (with previews and pickups), a little bit eBay (online bidding), and something altogether different (event based, photo catalogs and credit card only payments).
Even if you’re familiar with our auctions, take a look around, you will likely find information about our process, policies or techniques which will help you better navigate the site and have the best bidding experience possible.
If you need additional assistance, our customer service team will be more than happy to assist you.
We are Leaders and Pioneers in This Market
Liquidations are special events with unique methods of merchandising and marketing which have been refined by liquidators and auctioneers for hundreds of years. Our methods create a competitive bidding environment that pits the bidders against each other rather than the Seller.
Many of the innovative marketing and merchandising techniques we employ have been developed by us. Our pioneering use of online marketing, online presentation and online sales allows us to provide solutions with unprecedented speed. Your project can benefit from our ability to quickly prepare and present your assets for sale in record time.
The key to maximizing the success of any personal property liquidation is to provide the purchaser with complete product information and to conduct the sale in a manner which promotes comfort, flexibility and confidence with the purchase decision.
An Event-Based Company
In our business every client is different. Each liquidation event has a unique beginning, middle and end. We treat each event like one-time-only cannot miss opportunities to encourage the best price for our clients. Below is a listing of event types.
Let us help you choose the perfect fit.
Jennings Liquidation Events
Event Based Sales
Unlike eBay or craigslist, which sell a single item to a single buyer, jenningsassetliquidations.com is an event based liquidation site and each event sells many assets to many buyers. Each auction has a set location, preview, closing and removal.
Jennings Supervised Events
From the time you decide to liquidate your excess assets until you turn the empty space over, Jennings provides the evaluation, identification, marketing, sales, transaction and site management to assure a turn-key, low impact success. Sellers only need to identify items to be liquidated (or not), then Jennings can independently manage every aspect of the liquidation process.
Clients with fewer assets often appreciate the flexibility to prepare their own inventories (utilizing Jennings labels and spreadsheet), then manage their own inspection and/or removal.
The self-supervised event benefits from all of the marketing and sales resources of Jennings, while reducing the cost to the client. An added benefit of the self-supervised event is that the seller maintains control of the production, sale and removal schedule.
Many times organizations want employees, sub-tenants or associates to have the exclusive opportunity to purchase assets. Jennings provides multiple solutions to assure the buying experience is fun, fair, efficient and appreciated.
In some circumstances, assets are best suited for bulk sale in their entirety to a single purchaser. Jennings can provide a sales solution that assures the Seller achieves the most commercially reasonable sale within the framework of the schedule and removal requirements.
Online Inventories & Valuations
The relocation, redeployment and liquidation process depends upon having accurate information to make good decisions. Jennings can quickly prepare detailed asset inventories complete with barcodes, digital photos, description, manufacturer, model, serial numbers and location codes. Reports are available in both spreadsheet and fully searchable online form, allowing clients from across the country to collaborate in real time to refine inventory allocation decisions.
The low impact and flexibility of the internet only sale affords Jennings the ability to provide an infinite number of solutions customized to the unique requirements of our clients.
Our No-Hassle Process
Jennings will interview you regarding the specifics of your project then prepare a schedule and tailored sales solution.
Jennings will forward a letter of agreement outlining the details of sale.
Jennings will provide staff and/or materials necessary to prepare a detailed inventory. The identification process can be completed by either
Jennings staff or the seller.
4. Web Posting
Jennings prepares the event details and inventory for posting to the web. Each event is featured by closing sale date and has unique terms of sale. Most events are posted with 1-3 days of the identification process.
5. Online Preview & Bidding
Once the event is posted to the web, the inventory is fully searchable for preview and immediate bidding. While the bidding phase can be as short as a few hours, we recommend a preview/bidding period of 10-14 days for maximum success.
The marketing plan begins by utilizing a combination of direct mail, newspaper, online newsletters, telemarketing, web promotion, online advertising, social media and press releases immediately upon posting.
7. Inspection/Open House
While not strictly required, most events include a one day presale inspection or open house, staffed either by us or the seller. The inspection is usually conducted one or two days prior to the event closing.
8. Event Closing
The event will begin closing online starting with the first catalog item and continues 3-10 items per minute until all items have been sold. We utilize a dynamic closing system which automatically extends the closing time on any item which is being actively bid upon. Most events conclude within 2-6 hours.
9. Transaction Processing
At the conclusion of the sale, all bidder transaction are automatically processed for payment and sales receipts are e-mailed to the winning bidders.
The removal is supervised by either our staff or the seller. Buyers come prepared to disconnect and remove assets. Most purchasers use professional movers. Removals can be scheduled during the day, evenings and/or weekends. We can coordinate and supervise all aspects of the removal with building management. Most removals require 1 or 2 days, either from 9-5 or 6-11 PM.
With the conclusion of the removal Jennings prepares a detailed reconciliation with complete inventory, bidding history, revenue, costs of sale and proceeds disbursement.
After delivery of the reconciliation report and sale proceeds, Jennings will conduct a closing interview.
The JENNINGS Process has been carefully crafted over many years dedicated to low client impact and maximum return
Contact our dedicated team to schedule a FREE evaluation at your convenience. Thank you for giving us an opportunity to assist you.
Jennings evaluations are free of charge. Having sold millions of items for thousand of clients, most projects can be evaluated with just a brief telephone interview. If an onsite visit is required, it can usually be scheduled within a day or two.
After our initial conversation, you are welcome to forward photos and spreadsheets by email. Jennings also has a public FTP (file transfer protocol) site which allows seller to transfer large files with ease and efficiency.
Our fees are flexible, and scaled to match the needs and resources of our clients. Fees are a function of many factors including: total value of your assets, number of items to be sold, quality and condition of items, marketing time available for sale and removal, location of the assets and removal requirements dictated by the landlord or clients schedule.
We have an infinite number of solutions from extremely affordable self-supervised sales to full service turn-key liquidations. Our initial call or visit will allow us to summarize your requirements and provide you with an immediate quote.
Jennings lives in a world of inventory. Every item sold receives a unique inventory number, barcode label, complete description, location code and digital photograph. All information is posted online and can be viewed 24/7. Inventory items are added, edited, removed, sold, delivered and reconciled based upon the inventory control number and detailed item description.
At the completion of the removal process, the final reconciliation report and distribution of proceeds is generally completed within 7-10 business days.
Jennings holds all proceeds in an escrow account. Final disbursement is made either by FedEx company check or direct wire transfer.