What Are Turnkey Auctions?

turnkey auctions

What Are Turnkey Auctions?

How they benefit both the buyer and the seller

Turnkey auctions offer a wide variety of benefits for both buyers and sellers! They bring in competitive bids for sellers and are incredibly easy way to buy or sell a whole company. Turnkey auctions are one of Miedema Asset Management Group’s specialties, and we put a lot of time and effort into these sales. Because turnkey auctions are different from the other auctions that our sister companies offer (online, live, multi-parcel etc.) we wanted to break down what exactly a turnkey auction is and the benefits that they provide buyers and sellers.

What Are Turnkey Auctions?

A turnkey auction is a complete sale of all company assets. This includes all real estate, equipment, inventory, the Goodwill/Book of business and any other assets. The buyer would essentially be able to turn the key in the lock and start running a fully operational business (hence the name turnkey).

Any turnkey auctions that come through Miedema Asset Management Group will likely be sold through a sealed bid process. Interested parties will submit one bid stating the amount that they are willing to pay for the entirety of the turnkey property. Then, after the submission deadline the bidder with the highest offer will win the property. Bidders will not have the opportunity to see what the other parties offered, nor will they be able to place a counterbid. In this manner, turnkey auctions are essentially a direct sale with a secrete competitive twist (which is why you can find theses auctions on the direct sales tab of our home page). Sealed bidding is a good way to make sure that only serious buyers participate in the auction and encourages them to make offers that reflect the true value of the turnkey property.

turnkey auctions

Benefits for Buyers

Turnkey auctions are fantastic for buyers because after the sale closes, they have a fully functioning company ready to go. They won’t have to worry about the process of setting up an office, factory, or machine shop. Transporting equipment to a new building won’t be an issue – it will be there already! If an individual is looking for an extremely easy way to start their own business in a specific industry, a turnkey auction is a great way to do just that. Turnkey auctions are especially beneficial for a company that is looking to expand their current operations. A company that is already operating will have a management strategy in place, a game plan to move forward, and industry knowledge that will allow them to take on a new location without major complications.

Benefits for Sellers

A company that has decided to close its doors has a lot to decide when it comes to how the assets will be liquidated. One of the easiest ways to quickly liquidate all property is through a turnkey auction. The seller won’t have to worry about advertising different assets to a variety of industries – they can sell everything to one buyer. They also won’t have to negotiating prices with buyers, or even interact with potential buyers at all! Plus, a company would get the added bonus of receiving cash for any intangible assets. It’s hard to liquidate company reputation for cash the way that a seller would liquidate equipment. Turnkey auctions also allow a company to recognize gain from their intangible assets that otherwise wouldn’t have a concrete monetary value.

All in all, turnkey auctions are a great way to buy and sell property. The ease of the process is fantastic from the perspective of both the buyer and the seller, along with the other benefits that we touched on. If you are interested in selling your company with Miedema Asset Management, contact us today. If you’re looking for your next investment, click the button bellow to check out our upcoming turnkey and other sealed bid auctions.

Why Financial Institutions Need Professional Liquidation Services

professional liquidation services

Why Financial Institutions Need Professional Liquidation Services

Here at Miedema Asset Management Group, we do a lot of work with financial institutions to conduct auctions across the country. So often banks and other financial institutions quickly need repossessed items liquidated to cash to repay the debt owed to the bank and other parties. Considering the number of repossessed homes, cars, and other forms of property that a bank takes in, it is important that they have a trusted partner that they can turn to that will help them recover their money. That’s where we come in!

Why Financial Institutions Should Partner with Auction Companies:

1. Get the highest selling price possible

Auctions are one of the best ways to get a high selling price. The very nature of an auction is to create a competitive bidding opportunity so that the seller to get the most out of their item. This is great for a bank that is looking to recover as much money as possible from repossessed assets – they will likely get more back than they would with a general sale!


2. Years of Experience

Because we have been in the industry for so long, we have a wide range of experience – selling everything from foreclosed homes to repossessed cars. This experience allows us to position an institution’s property to allow for the best visibility, marketing, and bidders. Experience is extremely valuable in this industry and is imperative for a truly successful auction.

3. Frequency of Auctions

Banks and other institutions typically need their repossessed assets liquidated as quickly as possible to pay the debts owed by the previous owner. Large auction houses host multiple auctions every week – from specific auctions for companies and individuals to general weekly sales (check out our sister company Repocast.com’s auction every Thursday!) that will give banks the quick turnaround they need. If they have enough items to sell, they can hold their own auction with us. If they are only looking to sell a few items they can also choose to participate in a general consigner’s auction. This quick turnaround is perfect when a bank needs to liquidate repossessed assets quickly.

4. Auction Houses are trusted by both sellers and buyers.

When a financial institution partners with a reputable auction house they can rest easy knowing that everything is being taken care of for them. They can trust that auction houses like us know what we are doing – from the selling process to the legal transfers of the items they never have to worry about something going awry throughout the process. It’s the easiest and least stressful way for them to sell their repossessed items. 

These are just a few of the great reasons that banks should partner with professional auction houses like Miedema Asset Management Group to liquidate their repossessed assets. If you are a financial institution interested 


in partnering with us, contact us here. We want to make your auctions as successful as possible so that you can recover what is owed to you.

The Importance of Managing Your Company’s Intangible Assets

intangible assets

The Importance of Managing Your Company’s Intangible Assets

Embracing Intangible Assets in a Physical Asset Industry

Tangible assets are extremely important and are the main driving force for much of our business as well as our client’s companies. From tractors and combines to excavators and drill presses, heavy machinery and equipment are typically pegged as our client’s largest assets. However, it’s important to recognize that a company must consider a lot more than just its physical equipment when managing its assets. We’ve touched on tangible assets before, but we now hope to show you how to look at your tangible and intangible assets as a whole in order to advance your company.

The overall market has been shifting to place a greater emphasis on the overall value that an organization can bring. A lot of this value is derived from a company’s intangible assets. Intangible assets include anything that is of value to a company and its clients that cannot easily be sold or have a monetary value assigned to it. Some examples would include a company’s goodwill and reputation, patents, copyrights, trademarks and brands. Behind goodwill and reputation are a company’s customer service, sustainability, social policies and charitable causes. These qualities provide a lot of additional value to potential clients, and can impact their choice when deciding which company they hire for their job or project.

In several of the industries we serve (agriculture, construction, tool & die etc.) it can be easy to get caught up looking at tangible assets. This isn’t a bad thing, in fact it’s extremely important for your organization. However, you need to take a step back and evaluate all of your assets together – including your intangible assets. In the same way that you perform maintenance on your equipment, you will want to evaluate your intangible assets and see what you can be doing to improve them or better understand their value if you are auctioning off your entire business. This might look like volunteering an unused field on your farm for a community event, hosting a field trip for a local school to teach kids about your industry, or simply acting as a sponsor for a charity that reflects the values of your company. Investing in the continuing education or certification of your employees shows both your employees and clients that you care about your people and that you want to make sure that they are up to date on best practices to serve your clients to the best of your abilities. Not only will these activities increase the goodwill of your company, some will also act as great marketing opportunities!

intangible assets

As industries continue to shift and client expectations change, you will have to step back and look at how your intangible assets help your company operate and provide value to your clients. You will want to make sure that you increase your efforts in managing your intangible assets in order to meet your customers’ needs and continue to stay relevant in your specific industry. 

If during your revamp you find yourself needing help managing your physical assets – contact us! We have years of experience and would love to assist you in any of your asset needs.

The Top Assets in Your Industry

tool and die

The Top Assets in Your Industry

Here at Miedema Asset Management Group we serve a wide variety of industries. We’ve been around for a while, so we are familiar with the machinery and equipment that are used across the board. Each piece of equipment is an invaluable asset for your company. They perform the grunt work of your production, working hard to make your operation as profitable as possible. Below are just a few of the top assets in the construction, agricultural, and tool and die industries.

Construction equipment
too and die equipment

It is incredibly important that you recognize which of your assets are the most valuable for your company so that you can properly manage and perform maintenance on them. Dedicating your resources to your prized pieces of construction, agricultural or tool and die equipment will allow them to last longer, perform better, and will save you the cost of having to replace them more frequently than you want to – after all, these pieces of machinery are incredibly expensive and eat up a lot of your capital.

Of course, you will eventually come to a point in time where you are looking to upgrade your tool and die equipment. Depreciation is inevitable and as technology advances you will want to keep up with the times to remain productive and competitive in your market. A great way to gain the capital for these new upgrades is to sell of your machinery and equipment. Our auctions bring in a pool of loyal bidders that are ready to bid on your equipment. Auctions will often bring you a higher bidding price than you would get in a traditional sale, giving you more money to purchase your new equipment. On the other hand, if you are looking for additional machinery to expand your operations or to replace an older model, our auctions offer a wide selection of machines. Contact us if you have any questions about buying or selling your equipment with us.

Looking To Buy?

*Some icons used in the info graphic were created by these individuals:
Nikita Golubev

Commercial Liquidation Solutions You Can Trust

Commercial Liquidation Solutions You Can Trust

Count on us for your commercial asset liquidations

If we know one thing, it’s asset management. It’s in our name for goodness sakes! We know that the commercial liquidation process can be a difficult process to manage, so we work to make sales easier and more profitable for our clients. We are the commercial liquidation solution that you can trust for your company, whether you are restructuring, selling, or simply need a valuation of your assets.

At one point or another it is likely that you will need to liquidate some of your fixed tangible assets for liquid cash. We are sure you have heard that everything your company owns is an asset, but we want to help you make sure that you are truly taking all your assets into account. We will come in and do a full assessment of your business, cataloging all your equipment and machinery in order for you to have a better understanding of your company’s assets. We will be able to tell you which of your items has value, so that you know what you can expect to sell off.

Once we have figured out exactly what assets will be sold in your commercial liquidation, we will do all we can to make sure that your equipment sells for the highest price – bringing you the greatest profits to sustain your company, fund your future business endeavors, or simply pay for your retirement trip to the Bahamas! When cataloging your equipment for the sale, we will take photos from every angle to present to the buyers. Afterall, many of our loyal bidders are around the country and might not have the opportunity to view all your equipment in person. We will also create accurate descriptions for each piece of machinery, listing the working condition along with any maintenance records and other information that is available. This will help keep buyers informed so that they can understand the true value of your equipment. We have a great marketing team that will evaluate how to best present your auction or direct sale to our pool of loyal bidders in order to appeal to those most likely to purchase your items. Afterall, you want as many people possible to know about your auction and want to bid in it!

commercial liquidation solutions

Which brings us to the next point – how you choose to sell your equipment. While your mind might jump to a traditional sale, our experience has shown us just how much an auction can do for your commercial liquidation. Auctions allow bidders to come in and place their own bids, allowing them to dictate the price and feel confident about what they want to purchase. As a seller, bidding is great because buyers will go back and forth with each other, driving up the price as they compete to win the equipment. Auctions allow you to bypass the hassle of a traditional sale as well! We sit down and do all the work for you, cutting out negotiating with buyers and contemplating the best way to move the equipment. You get to sit back, relax, and see the bids come rolling in. On the other hand, we do offer direct sales which might be a better option for your company depending on your liquidation needs. We will evaluate the best type of sale for your business once we have a better understanding of your assets.

We strive to bring you the best commercial liquidation solutions so that your company can recover the value of your assets quickly. We have worked in the asset management world for a long time and strive to provide you with honest and accurate valuations, an easy selling processes, and great customer service. We will work with any sized company in any industry, because we know that regardless of what you do, you will need trusted commercial liquidation solutions at some point. As the years have gone by, we have designated each of our sister companies to focus on specific industries and selling processes so that we can do our job even better. If you need to liquidate any of your assets, contact us to see what we can do to help your company. We can’t wait to provide you with a commercial liquidation solution you can trust.

sell your assets

Looking for Commercial Liquidation Solutions?

Assets vs. Liabilities – What’s The Difference

assets vs liabilities

Assets vs. Liabilities – What’s The Difference

If you are a business owner, as 2020 approaches you might find yourself reevaluating your business financials. It’s important that you recognize that your business, no matter how big or small it is, is made up of both assets and liabilities. Each item plays an important part in how much your business is worth as a whole. If you are not familiar with neither assets nor liabilities, we want to help you understand what each of them are, and how they make up your business’ worth. Once you understand your assets and liabilities you might begin to see that they can affect what decisions you make and how you run your business as well. So, let’s dive into assets and liabilities so we can understand the difference.


Let’s begin with your company assets. An asset is a broad term that covers a lot of ground. An asset is something that is owned by a company or business that provides value to them. Assets come in many different ways, both tangible and intangible as well as fixed versus current! In the world of tangible assets, this term refers to more of the physical items that provide value to your company this, for example, this could include something such as technology, real estate, or company vehicles that people drive. Within tangible assets you also have both your fixed and current asset. A fixed asset is something that cannot be quickly liquidated to cash. Whereas a Current asset would be considered something that can be quickly liquidated into cash for your business. Then there also is intangible assets which refer to something obviously intangible or “less” tangible, this could be something such as an idea, patent, or copyright. If you are interested or curious to dive deeper into the world of assets, take a look at our blog where we explain the difference between fixed and current assets here

assets vs liabilities


Now looking at your business’ liabilities. The word liability can seem a little bit scary and just like an asset covers a lot of ground, but actually a liability is a pretty simple concept. Generally speaking, a company’s liability is any thing that they responsible for or are “tied down” with – let us explain further. When a business has an obligation to another business, person, or service, that would be considered a liability. This could be anything from a payment, to a service, to an event. Liabilities are broken into current (short-term) or non-current (long-term) liabilities. A short-term liability is something an obligation that will be completed in less than 12 months. This often includes accounts payable, and other smaller debts that might incur on behalf of the business. A long-term or non-current liability is an obligation that will take more than 12 months to finish. This would include something such as a mortgage or in some cases, although less common, post-employee benefits. A liability also can be alternatively defined as something that costs more money than is worth. This would be more in the case of machinery or equipment. If you have a very old piece of equipment that you are continually spending money on to fix or keep going, eventually that item will no longer be considered an asset and will turn more over into a liability for your business.

Now that you have a good understanding of what both assets and liabilities are, it may be easier to see how they are different. An asset is any thing or item that adds value to your business, where a liability is something that is going to take away value from your business. Looking at the two it is much easier to see how they work together and how every business has both assets and liabilities both! Now you can maybe understand and see a little bit better how each part of your business is either an asset or a liability. If you are interested in learning more about your company’s assets, contact us today! Miedema Asset Management Group is happy to meet with you and help in any way that we can. To see a full list of our services – click here.

Interested In Learning More About Our Asset Management Services?

What is the Difference Between a Dissolution and a Liquidation?

what is a liquidation

What is the Difference Between a Dissolution and a Liquidation?

The different processes of closing a business

One question that we often receive when helping businesses sell off their assets is if they are participating in a dissolution or a liquidation. Many times, these two words are used interchangeably as they both indicate the closing of a company, however there is a very important distinction between these two words. Simply put, a dissolution is a (typically) voluntary legal closure of a business while a liquidation involves the selling of a company’s assets in order to pay creditors.

What is a Dissolution?

A company is dissolved when it has served its purpose and will not be started again. This often occurs when the head of a company retires, or simply when it is decided that the organization is no longer needed. The dissolution itself is the legal closure of the business, filling out the paperwork necessary to end the company and alert the government that they do not exist for tax purposes. A company is able to dissolve if:

1. It hasn’t traded or sold off any stock in the last 3 months.

2. It hasn’t changed names in the last 3 months.

3. It isn’t threatened with liquidation and has no agreements in place with creditors, such as a ‘company voluntary arrangement’ (CVA), which is a legally binding agreement that lets a company freeze its unsecured debts and repay them with future profits.

*regulations noted from The Formations Company

Of course, a company must also wrap up any loose ends and pay any creditors before they officially close.

what is a dissolution

Dissolutions are typically seen in a more positive light than liquidations. Most of the time, a company is dissolved by the voluntary choice of the director, while liquidations are often necessary closures to pay debts to creditors.

So What is a Liquidation?

A liquidation is the selling of company assets to pay debts owed to creditors before a company is closed either out of necessity or choice. Most liquidations are not voluntary, and often occur when a business is not able to continue profitably and/or owes debts to multiple creditors. They are forced to shut down but must first pay back their investors. There are several types of liquidations that a company may participate in:

Members’ Voluntary Liquidation – a company decides to liquidate their assets of their own choosing in order to have more liquid assets for future business endeavors. This type of liquidation is often used in the dissolution process, as anyone voluntarily closing their business will need to liquidate their assets.

Creditors’ Voluntary liquidation – this occurs when the director or head of the company realizes that they will not be able to pay creditors and choses to liquidate company assts of their own accord. They will work with their shareholders, creditors and a liquidator throughout the process.

Compulsory Liquidation – creditors force a company to liquidate its assets in order to pay the debts owed to the creditors. These liquidations are often regulated by a court.

Liquidations can be a hard process to go through, but we hope that we can make it easier for you. Contact us today if you have further questions about dissolutions and liquidations, or if you are interested in liquidating your items with us!

4 Steps to Make Business Asset Liquidation a Breeze

4 Steps to Make Business Asset Liquidation a Breeze

How to get started with a liquidation

Okay okay, we know what you’re thinking – “liquidations, a breeze? Who are they kidding?” We know that an asset liquidation can be an extremely trying and stressful time, but we wanted to share a few things you can do to make the process easier. We know the process is difficult, closing your company legally is enough of a hassle, but we want to make sure that you recover the most money possible from your assets in order to pay back yourself and your creditors. The tips below will help you get a handle over all that you have to do and will give you a good place to start – which can sometimes be the hardest part.

1.Know what you want to sell

Depending on your industry it might be hard for you to determine exactly what you want to try and liquidate. There are three main types of assets that you will want to consider:

First, take a look at any inventory you have. Inventory refers to any finished goods that would be able to be directly sold to your customers. For example, a clothing store would consider inventory any shirts, pants, dresses and jackets on the rack or sitting in the back inventory.

Second, assess assets that are used in the production of inventory or other goods. This would include most machinery and heavy equipment that is used during the specific production process. An example would be the machines in a tool and die shop, or construction equipment used on a job site.

Third, consider assets that are valuable to your business but aren’t necessarily used in the production of final goods or services. For pretty much every company this will be your office furniture. Your furniture isn’t actually used to produce profits like other assets do. After all, your employees are much more productive sitting at desks, but your company would probably still profit if all your employees sat on the floor. You just wouldn’t have very happy employees.

After categorizing your items go through and make a comprehensive list of everything you plan on liquidating. Organize your list by types of equipment, rooms of your building, or whatever other way makes sense for your company.

2.Create descriptions and assign values

Once you’ve decided what you will be liquidating, write out descriptions for each asset and assign a dollar value to it. Including descriptions of each item with its past use and maintenance will give a buyer a better understanding of the working condition of each item and the care it received. You will also want to assign each item a dollar value. This can be done by consulting depreciation amounts on your balance sheet, ballparking estimates, or by hiring a professional appraiser. An appraiser will be able to tell you exactly what you should receive for each of your assets and will especially help with any heavy machinery and equipment.

asset liquidation

3.Consider who you want to sell to

Heading into a liquidation you will want to make sure that you know who would be interested in purchasing your items. Again, this will vary depending on your industry. If you are in retail, your normal customers would probably love to buy up your inventory for a marked down price. If you are a tool and die shop, consider other shops in the area that may be interested in purchasing your equipment. Contact others who are in your relative area and industry to see if they would want to buy your assets.

4.Decide how you want to sell your assets

Again, this will depend on your industry. If you are in retail, your current customers would probably love to buy up your inventory in a mark down sale. Simply drop your prices and open your doors and people are sure to come flooding in. If you have larger items to sell that the general public most likely won’t be interested in, consider contacting an auction house or asset management company (like us) to help you sell off your property. Not only will it make your life easier, but the professionals will have their own experience to help make your sale the most successful it can be. Whether you choose a mark down sale, a general open house sale, or an auction, make sure that you inform the proper people. You want to make sure the people who would be willing to pay the most for your items know about your sale!

All in all, we hope that these tips have helped you get started in your business liquidation process. If we could emphasize anything else, we would highly recommend using a professional liquidation or asset management service. They will know what they are doing and will be able to guide you through everything. Afterall, they do this every day and will be able to bring you the most money possible from your liquidation.

Have further questions about liquidating your business?

What Should Your Company Consider an Asset?

what is an asset

What Should Your Company Consider an Asset?

Navigating the world of tangible assets

When you step back and take a look at your company (whether for a business liquidation or simply to gain a better understanding of your company’s worth) it can be difficult to determine exactly what you should consider an asset. Depending on how long you have had some of your inventory, property, equipment and machinery it can be hard to determine how much it is still worth. We want to make sure that your company is being valued for what it is truly worth, as well as help you determine assets that you might not have considered before! Whether you’re asking yourself “what is an asset?” or “how do I know how much my depreciated assets are worth?” we hope to be able to help.

So What is an Asset?

According to Investopedia:

"An Asset is anything of value or a resource of value that can be converted into cash"

You most likely already knew that. However, there is much more to it than just that. Assets can be broken up into multiple categories in order to better determine their worth, liquidation capabilities and depreciation after initial purchase. Check out our info graphic to compare the two types of tangible assets:

what is an asset

How do I know what my assets are worth?

After you have determined what assets you have, you will want to know what they are worth. It may be hard for you to determine the value of one of your assets especially if it is currently in use. You may have bought it a while ago and it’s still working great but on the other hand it could have been sitting in storage for the past five years after being upgraded. Appraisers are great for helping you fully understand the value and worth behind your property – regardless if you plan on selling or not. Our sister company Miedema Appraisals provides professional appraisals in order to make sure you know the full value of your items (feel free to contact them here). You should also be able to determine the current value based off of the price you originally paid and the depreciation rate for the item. If you do not have that information available, you can shop around to see what similar pieces of used equipment are selling for and make a judgement call off of that. Having a proper estimate for what your assets are worth is extremely important when trying to expand or liquidate your business.

We want to make sure that you treat everything that your company owns as an asset so that you can profit the most from what you already have! Now that we’ve answered the question “what is an asset” and given you a few ideas in order to determine the value of your assets you should be good to go! If you need more help evaluating your assets or would like to sell through one of our auctions, please let us know! We would be more than happy to set up a time to talk with you – just contact us here!

Check our our Sealed-Bid auctions!

sealed bid auction

Check our our Sealed-Bid auctions!


We have many great Sealed-Bid auctions for sale right now on 1800asset.com. You can view the Sealed-Bid sales by clicking here or by clicking one of these upcoming sales:

Select Propane & Fuel, Inc. All Assets  



Complete Malt House Equipment Package


Joe Louis Arena Interior Metals and Infrastructure assets

15 Million $ Kitchen Cabinet Inventory Sealed Bid Auction

We will have more sealed bid auctions coming up in the future, but for now it would be in your best interest to look at our general upcoming auctions on our sister auction company’s site here. Are you interested in selling your own assets through a sealed bid auction? Contact us today! We would love to talk with you about the advantages of selling your unneeded inventory, machinery and equipment in an auction.

Looking to hold a standard live or online auction for your assets? We can work with you on that as well! Auctions are a fantastic was for you to sell your unwanted assets. The main advantage that most sellers are aware of when selling their assets in an auction is that they will most likely be able to receive higher funds than in a traditional sale. This is mainly because our loyal bidders (who will see your auction and will jump at the chance to participate) will bid against each other, pushing the bidding higher and higher, bringing you a better sale. Contact us today for more information.

Interested in buying equipment or heavy machinery through one of our auctions? Click here to browse a few of our upcoming online auctions! Buying equipment at an auction is often the best way to upgrade your assets. You pay less than you would buying the equipment new from a dealership, and often can get a great deal because you are the one dictating the price that you are willing to pay! Happy bidding!