Hello! Detailed below are answers to our most frequently asked questions.
Unlike traditional auctions or eBay, Rasmus is a completely different type of online-auction site. We are a little bit traditional (with previews and pickups), a little bit eBay (online bidding), and something altogether different (event based, photo catalogs and credit card only payments)
Even if you’re familiar with our auctions, take a look around, you will likely find information about our process, policies or techniques which will help you better navigate the site and have the best bidding experience possible.
If you need additional assistance, our customer service team will be more than happy to assist you.
REFERRALS
Perhaps you know that a business is getting ready to relocate or close, is downsizing or about to relocate. We have great success in converting referrals into online sales! Our referrals fees are based on a percentage of our fee from the Seller and can earn you from several hundred to tens of thousands of dollars! We are discreet and professional in all of our inquiries.
Please contact our customer service team to discuss how we can work together to turn your referral information into cash!
PROGRAMS
Liquidations are special events; with unique methods of merchandising and marketing which have been refined by liquidators and auctioneers for thousand of years. Our methods create a competitive bidding environment that pits the bidders against each other rather than the Seller.
The key to maximizing the success of any personal property liquidation is to provide the purchaser with complete product information and to conduct the sale in a manner, which promotes comfort, flexibility and confidence with the purchase decision.
Many of the innovative marketing and merchandising techniques we employ have been developed by Rasmus. Our pioneering use of online marketing, online presentation and online sales allows Rasmus to provide solutions with unprecedented speed. Your project can benefit from our ability to quickly prepare and present your assets for sale in record time.
From the time you decide to liquidate your excess assets, until you turn the empty space over, Rasmus provides the evaluation, identification, marketing, sales, transaction and site management to assure a turn-key, low impact success. Sellers only need to identify items to be liquidated (or not), then Rasmus can independently manage every aspect of the liquidation process.
Clients with fewer assets, appreciate the flexibility to prepare their own inventories (utilizing Rasmus labels and spreadsheet), then manage their own inspection and/or removal.
The self-supervised event benefits from all the marketing and sales resources of rasmus.com, while reducing the cost to the client. An added benefit of the self-supervised event is that the seller maintains control of the production, sale and removal schedule.
Many times, organizations want employees, sub-tenants or associates to have the exclusive opportunity to purchase assets. Rasmus provides multiple solutions to assure the buying experience is fun, fair, efficient and appreciated.
In some circumstances, assets are best suited for bulk sale, in their entirety to a single purchaser. Rasmus can provide a sales solution that assures the Seller achieves the most commercially reasonable sale within the framework of the schedule and removal requirements.
The relocation, redeployment and liquidation process depends upon having accurate information to make good decisions. Rasmus can quickly prepare detailed asset inventories complete with barcodes, digital photos, description, manufacturer, model, serial numbers and location codes.
Reports are available in both spreadsheet and fully searchable online form, allowing clients from across the country to collaborate in real time to refine inventory allocation decisions.
The low impact and flexibility of the internet only sale, affords Rasmus the ability to provide an infinite number of solutions customized to the unique requirement of our clients.
EVALUATIONS
Yes, having sold millions of items for thousand of clients, most projects can be evaluated with just a brief telephone interview.
Most projects can be evaluated with a single telephone interview. Onsite visits, where required, can usually be scheduled within a day or two.
After our initial conversation, you are welcome to forward photos and spreadsheets by email. Rasmus also has a public FTP (file transfer protocol) site which allows seller to transfer large files with ease and efficiency.
No, project evaluations do not require written, line item appraisal reports. One of the many consulting services we provide are formal written appraisals, less formal letters of opinion and complete bar coded and photographed asset inventories.
If you have a valuation project which requires detailed identification, valuation, strategizing and testimony, Rasmus can provide detailed appraisal reports in as little as 7-10 business days.
Yes: Certain assets are well suited for individual sale. Value is the primary factor in determining the viability of a project. Examples of individual items suitable for sale include telephone systems, large generators, trucks and vehicles.
Yes; Many of our Fortune 1000 clients liquidate assets from multiple locations simultaneously. The online sale provides complete flexibility to sell assets on different floors, in different building or in different parts of the country.
Yes, in the past year we have conducted in excess of 200 online events from coast to coast.
FEES
Our fees are flexible, and scaled to match the needs and resources of our clients.
Fees are a function of many factors including:
The total value of your assets
The number of items to be sold
The quality and condition of items
The marketing time available for sale and removal
The location of the assets
The removal requirements dictated by the landlord or clients schedule
We have an infinitely number of solutions from extremely affordable self-supervised sales to full service turn-key liquidations.
Our initial call or visit will allow us to summarize your requirements and provide you with an immediate quote.
SCHEDULING
The entire sales process from start to finish averages 10-14 days. We routinely complete sales within one week. The highest return is generated from projects which provide 20 or more days.
No, because assets are presented and transacted online, the process is extremely low impact. Most clients continue to operate right up until scheduled day for removal.
The entire process is low impact. Essentially we identify post, inspect, sell and supervise removal of your assets.
Whether Rasmus supervised or self-supervised, the process is the same
Step 1. Evaluation
Rasmus will interview you regarding the specifics of your project, prepare a schedule and tailored sales solution.
Step 2. Engagement
Rasmus will forward a letter of agreement outlining the details of sale.
Step 3. Identification
Rasmus will provide staff and/or materials necessary to prepare a detailed inventory. The identification process can be completed by either Rasmus staff or the seller. Identification consists of applying a barcode label, preparing a detailed description with dimensions, manufacturer and model number, taking a digital photo and assigning a location code. The identification process normally takes between 2-8 hours to complete.
Step 4. Web Posting
Rasmus prepares the event details and inventory for posting to the web. Each event is featured by closing sale date and has unique terms of sale, inspection, closing and removal times. Most events are posted with 1-3 days of the identification process.
Step 5. Online Preview & Bidding
Once the event and assets are posted to the web, the inventory is fully searchable for preview and immediate bidding. While the bidding phase can be as short as a few hours, we recommend a preview/bidding period of 10-14 days. Projects which are prepared well in advance of the closing date can substantially benefit from prolonged exposure, marketing time and extended bidding.
Step 6. Marketing
Once an event is posted the marketing plan begins utilizing a combination of direct mail, newspaper, online newsletters, telemarketing, web promotion, online advertising and press releases.
Step 7. Inspection/Open House
While not strictly required, most events include a one day presale inspection or open house, staffed either by Rasmus or the seller. The inspection is usually conducted one or two days prior to the event closing.
Step 8. Event Closing
The event will begin closing online starting with the first catalog item and continues 3-10 items per minute until all items have been sold. Rasmus utilizes a “dynamic” closing system which automatically extends the closing time on any item which is being actively bid upon. Most events conclude within 2-6 hours.
Step 9. Transaction Processing
At the conclusion of the sale, all bidder transaction are automatically processed for payment and delivery of e-mail delivery of sales receipts.
Step 10. Removal
The removal is supervised by either Rasmus staff or the seller. Buyers come prepared to disconnect and remove assets. Most purchasers use professional movers. Removals can be scheduled during the day, evenings and/or weekends. Rasmus can coordinate and supervise all aspects of the removal with building management. Most removals require 1 or 2 days, either from 9-5 or 6-11 PM.
Step 11. Reconciliation
With the conclusion of the removal Rasmus prepares a detailed reconciliation with complete inventory, bidding history, revenue, costs of sale and proceeds disbursement.
Step 12. Landing
After delivery of the reconciliation report and sale proceeds, Rasmus will conduct a concluding interview.
ACCOUNTING
Rasmus lives in a world of inventory. Every item sold receives a unique inventory number, bar code label, complete description, location code and digital photograph.
All information is posted online and can be viewed 24/7. Inventory items are added, edited, removed, sold, delivered and reconciled based upon the inventory control number and detailed item description.
Buyers and sellers watch the entire sales process unfold online. In addition to the photo catalog, the sales inventory shows the current number of bids on each item, the bid history, the current bidder number, current bid and next required bid in real time.
At the conclusion of the sale, the sales results are left online for a period of 6-12 months.
The final reconciliation report is forwarded by email and includes an auction summary of activities, a detailed inventory report with control number, full description, bidder number, qty and cost, plus a full accounting of the revenue, cost of sale and net proceeds.
At the completion of the removal process, the final reconciliation and distribution of proceeds is generally completed within 7-10 business days.
Rasmus holds all proceeds in an escrow account. Final disbursement is made either by FedEx company check or direct wire transfer.
SCHEDULE AN EVALUATION
It’s easy; just contact our customer service team with your contact information, and a brief description of your project. We will contact you promptly to discuss how our unique methods of sale can assist you with a fair and efficient sale of your excess assets!
“Advertising and promotion which generates results,
merchandising which creates desire and proven sales techniques
which consistently achieve top dollar for our clients time after time”
