A new digital marketplace offers a platform for companies to purchase or dispose of assets to customers on a local, regional or national level.

The AllSurplass online marketplace has assets in 500 categories on offer. It is backed by global asset disposal company Liquidity Services and is an innovation of the Nasdaq-listed Liquidity Services group, which is best known for its long-running disposal contracts with organisations like the US Department of Defence, Boeing, Mondelez, Chevron and Amazon. 

GoIndustry DoveBid South Africa, who currently represent Liquidity Services in South Africa, have been operating in South Africa since 2004 and have announced the migration of their client sales to the AllSurplass platform, accessible through the website www.allsurplus.com. The aggregation of all the groups’ seller portals onto the website aims to give the combined portals a global appeal. Sellers are now able to access over 3.5-million registered global buyers who regularly buy assets across the various online platforms within the Liquidity Services stable. Private sellers, business corporates, liquidators, lawyers, business rescue practitioners and banks are able to harness this buyer base when selling assets through the platform.

The AllSurplass website aims to provide an effective marketplace for companies to list their assets. It is designed to be quick and easy to use, without the need for extensive marketing campaigns to attract buyers to auctions or private treaty sales. The seller hub allows selected clients to upload information, pricing and images themselves, which are then vetted and uploaded to the portal.

Once sales have gone live, each lot becomes searchable and buyers from across the globe are able to start bidding. Buyers can save search choices linking assets by type, region or other selectable search criteria. The site will also notify bidders of impending closing bids and allow them time to place new bids or defend their bids if required.

GoIndustry DoveBid SA explains that all bidders are registered in their own countries and must abide by the terms and regulations of the subject jurisdiction. That means that bids are legally binding and give sellers peace of mind that the bids are genuine. Due to the volume of qualified bidders, sellers are more likely to fetch genuine market-related prices when they sell their assets through the portal.

Sellers are required to sign a mandate for the sale of assets to be disposed of, upload the required information and images and set required reserve prices to ensure that the assets are not sold for less than the seller expects. Upon completion of bidding, and provided the reserve prices are met, the buyer pays by means of a selected payment method. Once payment has been cleared, the seller is informed and is required to release the assets before final payment is made to them.