Central government has long taken an interest in public sector property disposals. There are clear processes to follow, with principles shared across from the Best Value procurement agenda.
But when it comes to other surplus assets, organisations have largely been left on their own. At a time of stretched budgets, it is every public servant's duty to get the best possible returns from asset disposal. But those same budget constraints mean that operational priorities often take priority – there isn't the time to explore new ways of disposing of surplus.
If your organisation wants to unlock the full value in its assets, the easy answer is to engage a specialist in online marketplaces – and follow the approach that is increasingly common in the commercial sector.
Why marketplaces deliver better returns
Today's teenagers would be unimpressed by the methods that most people used to rely on for buying and selling second hand. When you've only known a digital world, it seems rather quaint to put a card up in a newsagent's window or buy a little classified ad in the local paper.
The internet, and online marketplaces specifically, have transformed the way the general public buy ‘used' items – be that homes and cars or trainers and smartphones.
Exactly the same benefits apply to a FTSE 100 company or a complex public sector body as someone selling from their bedroom. For buyers, marketplaces offer greater access to desirable items, wider choice and the opportunity to bag a bargain, especially when compared to buying new.
For sellers, marketplaces provide a platform to showcase their items in ways that aren't possible in an advert or an old-style auction catalogue. Best of all, reaching millions of potential buyers (who can bid against each other) greatly increases the likelihood of securing a high resale value.
Speed is of the essence
The bedroom seller can decide to get rid of a jacket over breakfast, list the item before lunch, sell it that afternoon and have it in the post to the buyer before last the last post is collected. Public sector organisations can't move quite that fast, but using specialist online marketplaces significantly speeds up the process compared to traditional sales and auctions. Returns are realised faster and storage costs reduced.
The added benefits for the public sector
Rising use of online marketplaces is one of the ways technology is driving the ‘circular economy'. There is social value in promoting re-sale and re-use to reduce consumption and emissions. For public sector organisations, marketplaces provide a transparent and compliant method of disposal, that demonstrates environmental commitment. Responsible resale counts towards your CO2 targets and meets WEEE compliance.
What do buyers want?
The one question you might have is ‘what is worth selling on a marketplace?' There is demand out there for almost every asset you can think of – from office equipment to the contents of leisure centres. Heating systems, catering equipment, audio visual facilities, gardening/industrial equipment and tools – their resale value is waiting to be unlocked.
Through the AllSurplus.com website, Liquidity Services is helping organisations all over the UK to get better value from surplus resale. We're here to help you recover more of the taxpayers' money. Every extra pound earned is an another one to re-invest. Please visit https://featured.allsurplus.com/gov or contact Finlo Corrin at 020 7098 3707 / finlo.corrin@liquidityservices.com.
