What Do Buyers Value?
Liquidity Services surveyed nearly 2,500 buyers of surplus assets regarding their purchasing behaviour, preferences, and what they value in a surplus asset buying experience. This survey found that surplus buyers are highly motivated by the desire to reduce risk in their surplus purchases. Why is this so important? Online marketplaces benefit buyers by allowing them to seamlessly view, bid, and buy surplus items from sellers around the world. However, because online buyers often can’t view and inspect the surplus in person, this convenient method entails a higher level of risk than buying in person.
The secondary market is full of opportunity but also risk and uncertainty. Our extensive research into buyer habits and beliefs has found that your business can build trust with buyers by providing a wide range of accurate, detailed information about surplus assets you’re selling.
Given the time and resources required to provide this information for all surplus you aim to sell, consider outsourcing this function to a trusted, expert partner. Liquidity Services SA will maximise recovery for your surplus by delivering the superior, comprehensive merchandising experiences your buyers need. And we will do so while requiring little time and effort from your organisation, freeing up resources to focus on your core business.
Read on to discover how your organization can build trust and consequently maximize recovery and buyer loyalty by providing complete, accurate merchandising information about your surplus.
Be Transparent About Your Asset’s Condition
Virtually all (96%) buyers of surplus desire accurate information about your asset’s condition. This information reduces buyer risk by giving them confidence in the asset’s quality. If your asset is in less-than-stellar condition, mentioning this builds buyer trust by showing your willingness to be transparent about potential issues.
Liquidity Service SA will leverage an extensive, diverse buyer base to sell your surplus regardless of its condition.
Include Detailed, Accurate Descriptions
Nearly all buyers of surplus (95% according to our survey) want to see accurate, detailed descriptions of assets for sale. This information helps buyers better understand the asset, reducing their perceptions of risk and increasing the chances they’ll bid higher.
Liquidity Services SA will include detailed descriptions of every lot for sale, from dimensions to location to important legal details such as payment, seller, and auction terms.
Provide Compelling Images
94% of buyers, deem photos important to asset listings. Compelling photos establish buyer trust – and drive higher bids and recovery – by providing clear evidence of your assets’ quality.
Liquidity Services SA can skilfully capture, edit, and post compelling photos of your surplus. We will display your surplus in the way most appealing to buyers, maximising recovery while enabling you to focus on core business.
Mention Your Asset’s Age
85% of buyers want to see the asset’s age included in lot listings. Older assets are more likely to need frequent maintenance or be obsolete or out of warranty.
Liquidity Services SA includes asset age as a general practice in lot descriptions. We have access to a global buyer base to generate maximum recovery for your older assets.
Include Original Manufacturer and Seller Name
A brand name matters to buyers of surplus. 73% want to know the original manufacturer brand of surplus they’re considering purchasing, and 66% want to know the seller brand. A familiar brand name is a mark of quality that increases buyer confidence and interest.
Liquidity Services SA will, with your permission, communicate your brand and the manufacturers’ brand to potential buyers of surplus. Since buyers associate experiences purchasing your brand’s surplus with your brand, we provide excellent customer service throughout the buying process, from available, helpful staff to proven dispute-resolution processes.
Although it may sound straightforward, it takes substantial time and resources to deliver the merchandising experience buyers desire, in order to build buyer trust. The ideal solution is often to select a trusted partner to manage and optimise your asset disposal process. Liquidity Services SA will maximize total value for your surplus while requiring little time and effort from your organisation, freeing up resources to focus on your forward-flow business.