PROFESSIONAL LEADERS IN THE AUCTION INDUSTRY
After several years of being closed, the US Bankruptcy Courts decided on and approved Hurley Auctions to conduct a Chapter 7 bankruptcy auction of Gettig Technologies Inc. which included Gettig Engineering & Manufacturing, Gettig Pharmaceutical Instrument, Stelrema Corporation, Beacon Tool Corporation, GPI Aviation, all manufacturing equipment, injection molding systems and contents of each facility, as well as several pieces of real estate.
It was decided to do the auctions on multiple days utilizing both live and online auction formats for the personal property. Several challenges presented themselves with the facilities being distant from each other, 2 locations in Indiana and one in Pennsylvania, as well as the uniqueness of all of the equipment and personal property requiring specialized marketing attention. Due to an extensive advertising campaign, the equipment and personal property brought over 1.25 million dollars with global distribution to 29 states and Canada as well as bidder activity from around the world
An accountant and turn around manager specializing in corporate restructure contacted us to do an auction of AgAir LLC, a former helicopter service and aerial application operation. The biggest challenges were a helicopter without proper paperwork and highly specialized agricultural spray equipment that needed to be out of the hanger it was stored in within a few weeks. We immediately went to work cataloging and photographing the equipment and had it on our website in a matter of days. We then turned it over to our marketing team that was able to attract the attention of potential buyers from around the world. The auction was a great success with our website having over 116,000 page views and bidders from around the world and 18 states in the US. (CLICK HERE FOR AUCTION RESULTS)
Hurley Auctions was tasked with the bankruptcy liquidation auction of Universal Secure Lift Inc. a manufacturing company specializing in cargo tie downs and lifting products. The uniqueness and the age of some of the equipment as well as the limited amount of buyers who would be interested posed a great challenge. In particular was a horizontal proof test machine that would be used by only a few companies worldwide. We contacted numerous companies both in the commercial and government sectors to make them aware of the auction. We also did a worldwide marketing campaign that led to tremendous results. Our website had over 210,000 page views with successful bidders as far as California and Mexico. (CLICK HERE FOR AUCTION RESULTS)
Meritus Health of Maryland asked us to undertake the liquidation of one of their surgery centers as they did some restructuring within their organization. This was a very large scale auction with over 1200 lots at the Robinwood Surgery Center of Hagerstown, MD. The center performed more than 5,000 procedures annually in the areas of ophthalmology, endoscopy, orthopedics, gynecology, podiatry, urology, neurosurgery, breast cancer, ENT, pain management and plastic surgery.
Things we needed to consider were parking for non-patient use as well as high patient traffic still continuing in and out of the building. Much of the equipment still being used, removed, or added coupled with several pieces of medical and surgical equipment being highly specialized were other factors we needed to be sensitive to in the process. In particular, were the Zeiss Opmi Lumera 700 and Callisto Eye systems which are highly specialized and unique only to cataract and refractive surgery physicians. Hurley Auctions made hundreds of calls and conducted an extensive marketing campaign with strategic target marketing that reached thousands of medical and surgical professionals throughout the world. The auction was a huge success with over 250,000 hits and bidder activity from over 30 states as well as Canada, South America, Germany, and India.
A regional bank’s asset recovery division contacted us to do an auction for them of Moe’s Southwest Grill. The challenge was that we only had one week to conduct the auction and have the building emptied. Needless to say, we were up for the challenge. Hurley Auctions’ online field and administrative team prepped, catalogued, and photographed all of the contents of the restaurant and had the entire auction online for bidders within 24hours of signing of the contract. The after-auction crew assisted bidders with a smooth pickup ensuring dismantling and rigging was properly handled. Needless to say the bank was thrilled with the results with almost 100,000 hits and bidders from MD, WV, VA, PA, and MD.
Glen Aspers’ farm had been in the family for generations. When the difficult decision was made to sell the property they put it on the market at $3.7 million with a realtor for over a year with no success and the highest offer made being $2 million. They were frustrated and not sure which way to go. We found out about the property and gave Glen a call to explore his options. After meeting with Glen and his family, they decided to hold an auction. Due to an extensive marketing campaign by Hurley Auctions, there was much anticipation by the bidders. On auction day the opening bid was just under $2 million and the bidding quickly took off. When the dust settled the property sold for $3.9 million, $200,000 more than was previously asked only 60 days earlier with the realtor. The ironic thing is that the buyer at $3.9 million had offered $2 million earlier and said that was all it was worth and that was all he would pay. It is also noteworthy that the back bidder was the gentleman who owned the farm on the other side who had never previously made an offer. Many times people will wait to try to get a bargain. But once the auction signs go up, they realize it’s their last chance and they put their best foot forward.
After nearly 30 years in the Whitetail industry the Gsells decided it was time to retire and asked for our assistance in determining the best way to market and sell their 400+ acre property and business. It was concluded that an auction would generate the most excitement and help get the highest possible price. We developed a marketing campaign that included the largest Whitetail hunting publications, worldwide and National trade and sporting journals, direct mail to industry professionals, internet and social media marketing to Whitetail Associations nationwide, as well as television and radio advertising. During the three months of extensive marketing we attracted over 40 potential buyers from across the US and Canada. The property sold to a wealthy rice farmer from Texas for $3.4 million.
The Martins family farm between Hagerstown and Greencastle had been in their family for many generations. When it came time to sell it was an emotional and stressful time. A neighboring farmer who had been renting the farm for many years had offered $450,000 for the 80 acre property. This seemed like a reasonable offer. However many in the family felt there was more interest out there if they just knew how to get it. A member of the family contacted our company and asked if we would meet with them to discuss their options. After a lengthy discussion the decision was made to offer the farm at public auction. After a 4 week extensive marketing campaign it was obvious that there was a lot of interest in the property. Auction day was very exciting as over 100 people rolled in the driveway. When it was time for the bidding to start, 12 registrants competed for the farm. It only took a few minutes for the family to know that they had made the right decision as the bidders battled it out and the farm topped at over $700,000. What’s interesting is the man who bought the farm was the man who offered $450,000 originally.
This 318+ acre retreat was a favorite of the Hann family. But when it came time to sell, their accountant suggested Hurley Auctions. They contacted us to do the job and with Hurley Auctions’ skillful negotiations, it was sold to a player for the Pittsburg Steelers for $1.1 million. The Hann family was so pleased they have since engaged Hurley Auctions to sell several other tracts of land!
