Audio-Visual Equipment
Situation
Due to financial conditions resulting from the Covid-19 pandemic, one of Canada’s largest full-service live event rental production companies was placed in receiver-ship in 2020 and forced to close operations and liquidate assets. Westbury’s AV Integrative Division, which specialized in designing and implementing systems integrations for Enterprise, Healthcare, Education, Government, Gaming, Sports, Entertainment, and Worship clients was also offered in the asset portfolio.
Tiger’s Vision
Tiger determined that a two-tiered strategic liquidation and auction sale plan would be created to maintain price sustainability and ensure that the market would not be flooded with equipment.
All gear was catalogued and priced out to allow access to North American and international buying markets. A four-day online auction took place, providing a rare opportunity for rental and production companies, houses of worship, universities and other end-users to add to their existing inventory.
Outcome
The project was completed in 120 days with over 50,000 pieces of gear sold. Over 400 Registered participated in the sale, resulting in a strong asset return.