Fivefifteen holdings was a mechanical workshop, petrol station and new vehicle sale dealership located in Alexandra in Central Otago. The company was placed into liquidation on the 19th of August 2019. It’s site consisted of a large vehicle repair workshop, a tyre changing and wheel alignment bay, a retail service station store, storage sheds and an office facility.
The Challenge
Skylarc were given the task of maximising the return on Fivefifteen’s assets, cleaning up the site to return it to the landlord in an acceptable condition and removing and storing any sensitive files until they could be processed by the liquidators. The assets of the company were spread over several buildings and the main assets consisted of 5 vehicle hoists, several tyre changing and balancing machines, a computerised wheel alignment system, a complete workshop of mechanics tools, a huge range of new and used tyres and car parts, a retail store full of stock and furniture and an office block. Much of the machinery was hard wired and needed safe decommissioning for removal from the premises.
The Process
Skylarc we’re given six weeks to sell the assets and exit the site while leaving it clean and tidy for the landlord. The site was tidied, rubbish disposed of and all assets were cleaned in preparation for photographing and listing. Over a course of two weeks Skylarc’s team described, photographed and tested over 672 lots. An engineering contractor, electrician and plumber were organised to decommission all machinery in preparation for safe removal by purchasers. All machinery was decommissioned and palletised after descriptions were created ready for easy dispatch. The auction ran over 8 days with two nights of sales with 50% of the total lots closing on each evening. This ensures that buyers can bid on multiple assets without missing out on items closing at the same time.
Marketing
A comprehensive plan to sell all assets via an online Trade Me event was backed by a targeted Facebook campaign along with marketing in local papers throughout central Otago.
The Results
The auction ran for 8 days selling 672 lots. Assets and stock were removed from the building within the required timeframe and the building was left clean and tidy.