Skylarc were asked by the receivers to provide an indication of the potential return in the event they were to sell the stock. A very challenging task considering the nature of the stock consisted of towels, sheets and bath robes, to be sold in the thousands at one large event. Skylarc started the process by doing a partial audit of the warehouse, assigning a value to each stock item and multiplying this by the side of the warehouse. The plant and machinery were valued as per Skylarc’s normal process. This gave the receivers a conservative guide as to the total value from which they could make an informed decision about the sale.
Skylarc were chosen to take both the assets and stock to market, a sale unlike any they had previously run. With a limited timeframe on the building a large $1 reserve online Trade Me event was chosen. The auction was lotted to make the stock as desirable as possible to a nationwide audience, so stock was sold in lots that could be transported by courier. The auction was over 1900 lots, making it the largest by volume Skylarc had ever run. The auction ran for four days with 450 lots closing each night between 6pm and 10pm. Setup took three weeks, the premises had to be completely reconfigured to ensure any stock item could be accessed for removal in any order. Asset collection was planned in two stages, a stock removal period lasting 5 days and a plant and machinery removal period lasting 2 days. A specialised narrow aisle order picker and suitably trained specialist staff were employed to pick the huge volume of stock that required removal in the extremely short timeframe available.