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Asset Disposal
Auction has been the traditional method of asset
disposal throughout the last decade as a method
for liquidating debt against plant and machinery.
DMS Auction Services have been very successful
in auction disposal with over 150 plant and machinery
auctions from Western Australia to Far North Queensland,
bringing very good results for our customers.
Recently however, there has been
a slight shift away from auction as a method of
asset disposal for those products which are very
market specific and do not appeal to a wide base
in the rural sector. As a result, DMS Auction
Services have been able to successfully implement
other methods of disposal, which achieve the same
end as auction - the highest price the market
will pay for any given item. Such methods include
the closed tender system, direct marketing to
a known industry base through our extensive customer
base and concentrated direct retail selling.
"Successful remarketing
hinges on having the right buyers for the products
we are trying to sell,” says Richard Skellern,
principal of DMS Auction Services. "By being
flexible enough to conduct an auction in the correct
market place, we can assure a better result for
our vendors”. This has been evidenced over
the years with the auctions carried out by DMS
Auction Services and the critical timing of these
auctions. "It is very difficult to sell a
header out of season, or a cotton picker away
from the cotton areas so instead, we take the
product to the market at the right time of the
season to obtain the most buyers and the best
price.” It is this type of flexibility and
marketing knowledge that give our customers more
potential of successful disposal.
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Asset Valuation
As a licensed auctioneer and valuer,
DMS Auction Services provides clients with written
valuations, but more importantly, advice on the
justification of the valuation, estimation on
any repairs required, estimates on transport and
advice on the best method of disposal. Richard
Skellern, principal of DMS Auction Services is
very proud of this point: "Anyone can give
a valuation on an asset, however if the valuation
is required for legal process or finance for example,
our clients are needing more than a price. They
need to know the condition of the unit, its saleability
and marketability. DMS Auction Services use our
extensive knowledge gained through sales experience
to procure our valuations.”
Our extensive network of suppliers
and dealers also can assist us with products that
may be of a more specialised nature when it comes
to valuations. "A valuation on an excavator
with a log harvesting head is not something you
will see every day, but through our client base
and supplier contacts, we can give our vendor
an informed valuation with both retail and wholesale
pricing, thereby providing more than one option”
says Richard.
"I think our advantage is
that we are always out on the bush and we can
conduct valuations very quickly for our clients.
Speed and accuracy are critical in this process
as often times a finance company maybe waiting
on a valuation for an approval, this is where
DMS Auction Services excels.”
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Asset Management
Much of the inventory scattered throughout
the dealer's yards in rural Australia is financed
and mortgaged to city-based financiers. The auditing
and checking of this stock is an expensive and
timely procedure for many of the financiers. Recently,
DMS Auction Services has developed a program whereby
we can provide financiers this auditing service.
Added to this service is our ability to provide
inventory valuations, condition reports and advice
on movements to assist these companies manage
their risk.
This asset management is also
being applied by administration and receivership
companies to mobilise plant and equipment and
provide full security services in our yards. "Liquidation
is an unfortunate part of business today and we
have provided a complete asset management service
to many of Australia's larger equipment manufacturers
and financiers to ensure maximum returns to creditors
and minimisation of risk,” says Richard
Skellern, Principal of DMS Auction Services. "From
inventory audits to liquidation through auction,
we are able to provide the full service to the
creditors.”
It is the speed and accuracy
of DMS Auction Services that have kept customers
coming back time and again. "These situations
require tact and sometimes a bit of bush resourcefulness
in order to achieve the best result for the creditors”
says Richard.
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Risk Assessment and Compliance
Recent legislation changes and a spotlight
from Government on a safe workplace and practices
has seen DMS Auction Services successfully implement
a risk assessment program which assists vendors
and suppliers comply with this important part
of our industry. Increasingly, suppliers and dealers
are becoming responsible for the safe operation
of the equipment they sell. In the past, suppliers
have been able to rely on European and American
standards to cover the risk assessment of the
machinery they sell. Today however, there is a
question mark over wether or not this assessment
is adequate to cover the seller for injuries incurred
as a result of operation of a machine.
DMS Auction Services is well
in front of its competitors on this issue and
can provide advice and software programs which
enable the supplier to implement the standards
expected by the regulatory authorities, and minimise
the risk associated with the sale of both new
and used machinery. DMS use the Plant Safety Manager from Risk Management and Safety Systems to provide this service.
"This is a very important
part of our industry and our business. We have
invested heavily in the risk assessment and compliance
area for both ourselves and as a service to our
clients to provide an unsurpassed marketing package
that covers the complete process.” Richard
Skellern, principal of DMS Auction Services.
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