Indicative of how online auctions can be an effective and safe way to market select commercial and industrial assets during the COVID-19 pandemic, Tiger Group reported that it attained new highs in the numbers of bidders during two sales it held in March for surplus professional grade audiovisual gear.
The most recent of the online-only sales, held on March 31, drew 367 bidders from 34 states and nine foreign countries for excess gear from The Camera Division (TCD), the one-stop AV rental house formed in 2017 through the merger of The Camera House and Division Camera.
A 100-percent sell-through was achieved on TCD’s offering of more than 200 pieces that included digital and video cameras, zoom lenses, lighting, matte boxes, monitors, jib arms, sliders, tripods, camera accessories, media, filters, and more. Foreign bidders and buyers hailed from Belgium, Canada, France, Israel, Japan, The Netherlands, Russia, The Ukraine, and The United Kingdom.
The previous sale on March 17 attracted 302 bidders from 30 states and nine countries outside the U.S. for surplus equipment from a major production supplier known for its support of award-winning work on major television and film productions. The more than 600 pieces up for bid included digital, video and action cameras, along with lenses, tripods, zoom controls, filters and other accessories.
Approximately 98% of the items in the mid-March auction were sold, drawing foreign bidders and buyers from Belgium, Canada, India, Israel, The Netherlands, South Korea, Switzerland, Turkey, and The United Kingdom.
“Tiger is proud to continue serving our clients and buyers in the AV sector during this extraordinarily difficult time, with these last two auctions attracting double the number of bidders we typically attract for our AV events,” commented Jonathan Holiday, Director Of Business Development at Tiger’s Commercial & Industrial Division. “We are navigating this challenging period with extreme due-diligence, following all state and federal guidelines to ensure the safety and well-being for our staff, customers and clients.”
Holiday, who leads Tiger’s AV vertical, reported that buyers primarily come from the media, entertainment and rental industries. “Our online auctions continue to offer top-notch gear for both live content and commercial advertising,” he said.
He went on to note that at this pivotal time when AV equipment rental companies have been heavily impacted by shutdowns of movie and television productions, Tiger can work with them to monetize their excess gear through valuations and auction events. “With effective, highly targeted marketing that reaches the right buyers, our online auction platform provides rental houses and production companies with a means to safely move excess gear and attain competitive pricing in comparison to utilizing their own sales channels,” Holiday said. “The proceeds from these sales of surplus gear are helping our clients navigate through this painful period, while keeping an appropriate level of inventory on hand for the time when productions resume.”