Blog
Jul 25

Leading Biopharma Companies Recover Over $1.7 Million for Surplus Assets

With nearly 5 million assets sold and over $450 million in total sales, Liquidity Services has the scope and industry experience to help biopharma companies turn their surplus assets into capital. When several leading biopharma companies needed to sell surplus assets from their North American locations, they chose Liquidity Services to maximize returns on those sales.

Background

Together, our clients had over 1,500 biopharma assets that were surplus to their needs. Needing to focus on their core business, these companies turned to the biopharma surplus experts at Liquidity Services to manage every aspect of selling their surplus, from identifying surplus through arranging payment.

How We Helped

Liquidity Services sold our clients’ assets through an online auction, the ideal channel for driving high levels of awareness and interest in items. We bundled assets into various lots based on category, with items from multiple clients often included in the same lot. This bundling strategy is proven to maximize bids and recovery. For each lot we created a listing that included compelling photos and informative descriptions, ensuring prospective buyers had the information they needed to bid.

We launched a custom marketing campaign to promote the auction, targeting our base of over 70,000 registered buyers with email blasts and social media while reaching new buyers with local, targeted advertising. As needed, we removed assets from seller locations and stored them in offsite warehouses, freeing up valuable space for our clients.

Results

The results of our auction speak for themselves:

  • Over $1.7 million in total recovery, $175k above client’s expectations
  • Nearly 20,000 bids and over 123,000 page views
  • Almost 90% sell-through rate for over 1,500 assets
  • Drew upon vast base of biopharma bidders to reach 335 bidders, including 35 new bidders

Join our Next Auction

Want to achieve results like this? Contact us today to join our next auction and start turning your biopharma or other surplus into cash.