Britannia AuctionsBusiness closure auctions in Newcastle upon Tyne
Offshore work comes in projects, and when the last project ends without another behind it a fabrication shop on the riverside at Walker or Newburn can close with a great deal of specialist plant inside. Some of it, the welding sets, the plate rolls, the cranes and the fork trucks, sells to any engineering firm. Some of it, the pressure test bays, the winches, the umbilical reels and the subsea handling frames, suits far fewer trades, and bidding for those lots is not limited to the area and abroad.
We run closure sales for both kinds of kit. The auction is online and open to the whole of the UK, and the engineering trade at Gateshead, Wallsend, Cramlington and Blyth is within easy reach of a viewing day. Heavy and awkward lots are described with their weight and the removal responsibility set out, so that a buyer knows whether a crane or a barge is needed. We plan back from the handback date.
Tell us the date and what is in the shop.
Test rigs and the kit few people can price
A hydraulic test bay or a subsea connector rig was built for one purpose and there may be a handful of firms in the country who want it. That is a reason for the catalogue to do more work, not a reason to leave the lot out. We describe the capacity, the certification, the control system and what was tested on it, and we photograph it in detail so that a buyer in Scotland or overseas can judge it without a visit. Where a rig has real value and a single obvious buyer, private treaty may bring more than an auction, and we will say so.
The general plant is simpler. Plate rolls, press brakes, welding sets, plasma tables and overhead cranes are used by any fabricator, and where they can safely be run they stay connected for the viewing day so they can be demonstrated.
Between the two sit the lifting gear and rigging. Slings, shackles, spreader beams and chain blocks are lotted by certificate date, with in date and out of test items kept apart so that bidders can see what they are taking on.
Riverside roads and the last lots out
The riverside at Walker is narrow in places, and the older roads were not laid out for a low loader with a spreader beam on the back. We walk the route at the site visit and decide which lots leave by road and which need a crane in the yard. A few lots may be large enough to go out through the Port of Tyne as project cargo. That is rare, but it exists here in a way it does not elsewhere.
The collection order is then agreed with you. It usually suits to release the small tools and lifting gear first and the machines and welding plant next, with the buyer's rigger on site and our staff releasing each lot against a paid invoice, leaving the cranes and the site services until the floor is clear.
Newer estates at Newburn Riverside or Team Valley across the river were laid out later. We measure the approach, the yard and the door there too, and the collection window follows from what we find.
What these sales can include
- Production machinery
- Finished goods and raw materials
- Warehouse racking
- Forklifts and handling equipment
- Vans, trucks and trailers
- Office furniture and computers
- Workshop tools and benches
- Compressors and site services
- Catering equipment
- Retail fittings and display units
- Vehicle lifts
- Packaging machinery
How we run the sale
We visit, agree the scope and catalogue the lots on site. Everything from the main machines down to the contents of the stores can be included. Small items are grouped into sensible lots so that nothing is left behind.
The sale runs online as a timed auction. Bidders register, view the lots on a set viewing day at your premises, and bid until the closing time. Lots close in sequence, and a late bid extends the closing time on that lot.
Buyers pay the hammer price plus the buyer's premium, with VAT charged where it applies and shown separately on the invoice. They pay us, and you are paid once the sale is reconciled and the collection window has closed, from cleared funds. The auction terms set out what happens if a buyer does not pay or collect. The details for your sale are explained when we discuss it.
The business closure auctions page covers closure sales and the pressure of the date, who needs to agree before you sell, stock, records and the things people forget, collection, clearance and the empty building, when a closure sale is not the answer.
Questions about selling in Newcastle upon Tyne
- Our biggest item is a test rig built for one client. Is an auction the right way to sell it?
Sometimes not. If there is one obvious buyer, often the client it was built for or a competitor with the same contract, a private treaty sale can bring more than open bidding, and we will tell you if we think so. If the buyer is unknown, the auction reaches the offshore trade across the UK and abroad, and a reserve protects you. Either way the rest of the shop sells at auction on the same timetable.
- Some of our lifting equipment is out of test. Does that stop it selling?
No. Lifting gear is offered whether or not the certificate is current, described honestly, with the cost of retesting falling to the buyer. We group out of test slings and shackles into lots by type and keep in date items separate, so that a bidder can price each accordingly. The overhead cranes are sold as they stand with their last inspection report attached to the lot. Nothing is sold as safe for use unless the paperwork says so.
More questions about closure auctions
Related services
Guides
- Closing a business: a timeline for selling the assets
Work backwards from the day you hand the site over. This guide covers lease end and dilapidations, when to instruct, when staff should leave, when to keep the power on, and how to leave enough room for collection and making good.