Marriott & Co. News and Online Sales Update - Autumn 2011

New Recruit to Marriott & Co. Team

We are very pleased to announce the recruitment of Harry Cave as disposals and valuations assistant. He will already be known to our regular buyers having been overseeing viewings and collections during our recent busy spell of online auctions and disposals.

Harry has very quickly shown his ability to deal with the unexpected issues associated with our insolvency work and has become a valued member of the team in a very short timescale. Harry’s contact details can be found on our website http://www.marriottco.co.uk/harry.html

Attempted Scam

Alarm bells rang when our bank telephoned to advise they had received a bank draft, in the post, in the sum of £60,000, made payable to Marriott & Co.

The keen eyed bank staff were concerned as to whether the draft might be counterfeit, and asked if we were expecting such a payment. We confirmed to the bank that no such payment was expected, so the matter was put directly in the hands of it’s fraud department. As anticipated, the ‘purchaser’ then contacted us requesting a repayment , which of course he did not receive!

Disposals

Mature Shrubs, Conifers and Plants

A Surrey based and well known nursery which went into Liquidation earlier in the summer has a stock of large potted tree and shrub specimens to be sold.

Tool Shop

A Surrey based tool shop’s remaining stock of tools is currently for sale by online tender and has generated good interest.

Printing and Print Finishing Plant and Machinery

A Liquidation of a well presented print and print finishing facility in Hertfordshire which made a great online auction.

As often happens in the current climate, a number of tempting offers were received prior to the auction being made public and with strong interest and bidding from end-users, the realisation achieved justified the judgements made on the pre-auction offers.

The clearance is now complete and we can only hope that the continued strong bidding and healthy realisations in our online auctions continues despite the economic difficulties and pressure on finance and borrowing generally.

Refuse Trucks

We were very pleased to be instructed to advise the Administrators of a large provider of refuse trucks – a valuation that exceeded £1,500,000 on an ex-situ basis.

There were numerous finance companies involved and multiple locations which made for a busy initial period establishing who owned what and where it was.

The unencumbered vehicles were successfully sold by private treaty to an end user and bins are still being emptied!

Construction Plant

The three tracked excavators in this case found buyers in the form of the original supplier and a dealer. The prices realised exceeded the valuer’s expectations and we were able to settle the tight deadline finance on the newer machine before incurring further interest charges.

Four Wheel Drive Vehicles

We provided valuation and disposal advice for this Hampshire based well-known 4x4 service and sales business. A management buy-out resulted (handled by us) and the business is carrying on.

Travel Firm Woes

We have been involved in two high profile travel firm Administrations dealing with intellectual property, buildings and property matters, and call centre equipment and IT.

With customers stranded overseas, and goodwill evaporating by the hour, these required swift attention to maximise value.

View all our current Sale Catalogues here http://www.marriottco-auctions.co.uk/