In last week’s blog, we described a typical auction day at Kohn-Megibow Company. Our auctions occur every other Wednesday, so on non-auction days, we keep busy in other ways! To see what goes on at KMC during our non-auction days, continue reading.
Two Weeks of Preparation
Once an auction is concluded, set up for the next bi-weekly auction begins almost immediately. We essentially work on a 10-business-day cycle in between each auction. The first two days after auction are usually quite busy because that’s when buyers are coming to pick up the items they just purchased.
The next 7 days are spent bringing more used restaurant equipment into the warehouse and getting it ready to put on the block at the next KMC auction. We inspect everything to make sure it is working. We’ll clean, test and prepare all the equipment for sale. We then put a “lot” number on each item, which is logged into our computer system. That enables us to track everything in the auction (sales dates, prices, commission percentages, etc.), as well as information for both the sellers and the buyers.
What many people don’t realize is that you don’t necessarily have to wait for an auction if you want to get a good deal on used restaurant equipment at KMC. We have buyers stopping by the warehouse all the time. Sometimes they just want to preview what is going to be up for sale at the auction. However, if you are really interested in something, we’ll gladly sell it to you at a fair estimated auction price. In addition, KMC offers a lot of great new restaurant equipment for sale direct from leading manufacturers at discount prices. You can browse our catalog online or come on by the warehouse to check it out.
On top of this, we bring in used restaurant equipment every single day. Our staff goes out in the field to pick up equipment from restaurants that are closing or liquidating used furniture, appliances, and cookware. KMC also works on behalf of banks, leasing companies and major landlords such as the Irvine Company, Disneyland and Universal Studios. We probably average somewhere between 1-2 full restaurants worth of equipment every single day.
We also have people bringing their used restaurant equipment directly to our warehouse. We’ll buy it for cash or we’ll take it on consignment to sell at the next auction.
Your Restaurant Equipment Resource
One of the things we love most is when customers come in just to talk about the restaurant business. People know Kohn-Megibow Company is an excellent resource because we’ve seen what works and what doesn’t, and our staff is so knowledgeable about what type of equipment is best for your particular restaurant.
The final Tuesday before a KMC auction is spent hosting buyers for the next day’s auction. We are open from 8:30 am – 4:00 pm, so you can come in and inspect all items that you are interested in. As you saw last week, auction days are rather hectic, so this gives buyers a better chance to spend quality time performing their own inspections and doing whatever research they need to do before purchasing any item.
Whether you are looking to buy used restaurant equipment at one of our auctions or are interested in liquidating your restaurant equipment, Kohn-Megibow Company can help. Contact us today for more information.