Tender sales provide more privacy for sellers for confidential asset sales. Contact one of our experts to find out more about this service.
Also referred to as a 'silent auction', the tender sale process uses a set deadline for individuals to send offers to a seller who will decide which to accept. Interested parties may submit their best offers without being able to see other bidding activity.
Sale through tender is an effective alternative to asset auctions when the sale requires an element of privacy. This sale method provides the seller with more control over the sale price as they have the option to view all offers and make an informed decision.
Using this method may be suitable for specialist assets within a limited market. We have previously sold assets by tender within a variety of sectors, including woodworking equipment, metalworking tools and plant and machinery industrial assets.
"BTG Eddisons specialises in selling assets of all shapes and sizes through expertly managed tender sales. Our flexible approach and industry expertise ensure tailored solutions that maximise value, no matter the scale or complexity of the assets."
Richard Temple, Director
During the sale by tender process, a guide price is established and potential buyers are invited to submit offers privately to the auction providers. Then, the vendor will make a decision on which offer to accept. Once accepted, an informal agreement will be made and the asset is sold to the chosen buyer.
Sale by tender functions similarly to an auction, operating as a ‘blind auction’. Offers made during a sale by tender are referred to as sealed bids as they are not disclosed to other bidders, unlike in a typical auction.
The vendor may be able to enter negotiations with prospective buyers to confirm an agreed price. Buyers also have flexibility as an informal bidding process is not legally binding, but rather an informal agreement. There are benefits for both buyers and sales through informal tender, as the sealed bids may drive competitive offers, and buyers may have the opportunity to get the best deal in a specialist marketplace.
You can rely on us for a successful tender sales process for the following reasons:
Please call 0333 2002 041 or complete the form below for advice on the best sale method for your specialist assets. We can assist with targeting the best buyers and ensure a smooth sale transaction. Be sure to find out more about our industry by reading the articles on our insights page.
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Eddisons boasts a national presence, with offices located throughout the UK.
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2nd Floor, 10 Wellington Place, Leeds, LS1 4AP
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An individual or business that meets the eligibility criteria detailed in the tender documents. You will usually need to be financially stable, possess the relevant experience and hold the right certifications for this.
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