AllSurplus Selected to Conduct Online Heavy Equipment Auction for Leading Engineering and Construction Services Company

Rhea-AI Summary

Liquidity Services (NASDAQ:LQDT) announced a partnership with a New York engineering firm to auction 27 surplus heavy equipment items valued over $800,000 on AllSurplus.com. The auction includes high-value assets such as Caterpillar backhoes and Peterbilt trucks, with bidding closing from August 31 to September 14, 2022.

Positive

• Partnership with a major New York-based firm enhances market exposure.
• Auction of 27 heavy equipment items valued over $800,000 may drive revenue.
• Utilization of AllSurplus.com allows for cost-effective selling of surplus items.

Negative

• None.

Twenty-seven heavy machines offered for sale through online global platform

BETHESDA, Md., Aug. 26, 2022 (GLOBE NEWSWIRE) -- Liquidity Services (NASDAQ:LQDT), a leading global commerce company powering the circular economy, today announced a new partnership with a major New York-based engineering and construction services company to auction its surplus heavy equipment. Twenty-seven assets valued at more than $800,000 are currently being offered for sale on AllSurplus.com, the world’s leading marketplace for surplus business assets, including heavy equipment and industrial machinery.

“We are pleased our marketplace was selected for these high-value items. The client appreciated that they could sell equipment on site without incurring costs to transport it to our location,” said Liquidity Services’ Vice President of Heavy Equipment Michael Smith. “We strive to exceed market value by maximizing returns through our intuitive auction platforms and our ability to market directly to known motivated buyers.”

The online auction contains a mix of high-value equipment including multiple Caterpillar backhoes, a 2011 Caterpillar D8T Crawler Dozer, Peterbilt vocational trucks, and Caterpillar track excavators. Several auctions will close on August 31, 2022, while others will extend until September 14, 2022.

By choosing to sell its surplus on AllSurplus.com, the company joins over 15,000 sellers serving more than 4.8 million qualified buyers worldwide. To place a bid, buyers must create an account by completing the free registration form at AllSurplus.com.

About AllSurplus
AllSurplus is the world’s leading marketplace for surplus business assets, ranging from heavy equipment to transportation assets and industrial machinery. AllSurplus is the smartest, fastest way to sell inventory and equipment as sellers can directly launch and manage their listings in just days with more control and lower fees than traditional auction solutions. AllSurplus is powered by one of the most experienced and trusted companies in the surplus industry: Liquidity Services (NASDAQ: LQDT), which has supported millions of customers across the globe. AllSurplus buyers have direct access to all the surplus assets across Liquidity Services’ network of marketplaces in one centralized location.

About Liquidity Services
Liquidity Services (NASDAQ: LQDT) operates the world’s largest B2B e-commerce marketplace platform for surplus assets with over $10 billion of completed transactions to more than 4.8 million qualified buyers and 15,000 corporate and government sellers worldwide. It supports its clients' sustainability efforts by helping them extend the life of assets, prevent unnecessary waste and carbon emissions, and reduce the number of products headed to landfills.

Contact:
Nancy Sloane
Director, Brand & Integrated Marketing Communications
(561) 339-8613
nancy.sloane@liquidityservices.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/80e9baa7-1e4c-4435-8e5e-009456536d6b

FAQ

What is the value of the heavy equipment auctioned by Liquidity Services?

The equipment is valued at over $800,000.

When does the auction for LQDT's heavy equipment end?

The auctions close between August 31 and September 14, 2022.

What type of equipment is being auctioned by Liquidity Services?

The auction includes Caterpillar backhoes, a 2011 Caterpillar D8T Crawler Dozer, and Peterbilt vocational trucks.

Where can I participate in the LQDT heavy equipment auction?

You can participate by visiting AllSurplus.com.