Hilco was appointed by a major Loss Adjusting firm for one of Australia’s prominent Insurers. The claim related to damage caused during specialised transport. The machine was unfit for purpose, disappointing given the low hours it had operated. Most auctioneers/brokers are concerned with a quick sale process; this case study is a demonstration of Hilco team’s main focus in creating solutions based on maximum recovery to the insurer, minimal impact on other stakeholders and maximise green footprint.
Hilco faced a number of challenges that had to be overcome. Firstly, ensuring the assessment was accurate, timely and concise. Secondly, the machine was a bulky, highly specialised piece of equipment demanding a narrow, yet well informed potential buyer in order to maximise a return for our client. Thirdly, the site had restrictions to entry, IP risks and logistical challenges to overcome. This meant a marketing campaign invested that did not involve site inspection, however providing all available information to potential buyers
Hilco’s client sought us as a suitable contractor to deliver a swift and accurate assessment, propose a sale solution to maximise returns and effective removal of asset from site, with minimal impact to the insured. This was required whilst minimising disruption to the current operating environment.
Hilco quickly analysed the opportunity and set up a two stage process to maximise returns for insurers. Firstly, Hilco’s team of highly experienced and knowledgeable asset specialists were able to critically review the asset, providing a useful report detailing its estimate. Hilco’s expertise in plant & machinery, onsite evaluation and salvage market know-how provided its client valuable leverage in being able to settle the claim. Secondly, Hilco invested in a specific targeted marketing campaign to maximise audience reach and suitable buyers of such specialised equipment.
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Adam is the CEO of Hilco APAC, a Director and founding shareholder, with over 25 years of experience in the auction, valuation and marketplace industries. Seeing a gap in the market when it comes to global access to marketplaces, Adam envisioned a business with a full-service offering; Hilco Global APAC was born from this vision. As the head of our business, Adam focuses on strategic relationships and finding new and interesting ways to connect buyers & sellers globally.
Mark has over 15 years of experience as an auctioneer and valuer of plant, equipment and vehicles, which includes undertaking valuation reports across a broad range of industries.
Mark is WH&S certified. An Accredited Member with The American Society Of Appraisers (ASA), Machinery & Technical Specialities and specialising in project management across complex sites nationally.
