N R Burnett Ltd, a traditional timber merchant based in Hull, was established in 1941. In recent years, the business was impacted by the rising cost of materials and competition from larger timber merchants.
Following a decision to close the business in September, the administrators were looking for an efficient way of disposing of the assets.
When Westgates Restructuring was appointed as administrator, they turned to BPI after discovering BPI services during an online search. Following a thorough evaluation of several asset disposal specialists, the administrators chose BPI to oversee the asset sale.
What set BPI apart was its ability to manage the entire process from start to finish, paired with the advanced functionality of its auction platform and website, which offer significant advantages to both sellers and buyers. The administrators were particularly impressed by how its dedicated sales and marketing team utilised BPI’s digital platforms to reach a wider audience of potential buyers.
By combining this extensive outreach with meticulous cataloguing and seamless collection coordination, BPI delivered a hassle-free asset disposal process that exceeded expectations and maximised returns.
The assets held by N R Burnett included a diverse range of high-value woodworking machinery, vehicles, timber stocks, tools and miscellaneous items. The challenge was to maximize the return on these assets while ensuring a streamlined and efficient disposal process.
BPI proposed an online auction to capitalise on the competitive bidding environment and the global reach of our advanced auction platform. By leveraging our extensive network of industry contacts, we successfully raised awareness among a wide pool of potential buyers, ensuring strong participation in the sale.
The well-maintained assets offered in the auction included:
- 2006 Holzma OptiMat HPP 250 CNC Beam Saw
- Weinig Powermat 500 7 Head CNC Controlled Planer Moulder
- Weinig Powermat 1000 6 Head CNC Controlled Planer Moulder
- S.E.M Co 30m Long Galvanised Timber/Stock Racks
- 2013 Iveco Flatbed with Atlas Rear Mount Loader Crane
- 2016 DAF LF150 FA 7.5t Curtainside Lorry
- 2020 Mercedes Sprinter Dropside Pickup
- 2017 Mercedes Actros 18t Curtainside Lorry
- 1990 Boss Sideloader, 2005 Jungheinrich Counterbalance Forklift
- Timber Stocks & more
The sale attracted a wide range of bidders, from industrial professionals and workshop owners upgrading their equipment to new startups entering the woodworking sector.
BPI meticulously photographed and catalogued all 497 lots over a two-week period, ensuring every item was presented with care and accuracy.
Auction results
The auction was an overwhelming success, drawing over 450 registered bidders from the UK and abroad. The total hammer price exceeded expectations, with high-quality machinery commanding impressive bids.
The sale remained live for three weeks, during which BPI created targeted marketing campaigns that maximised buyer engagement. Its online auction platform proved invaluable, enabling it to reach a broad audience and consistently achieve bids over the reserve prices.
BPI coordinated secure and efficient collections from the Hull site, completing the logistics in just two weeks. The entire process, from cataloguing to the final collection, was completed in an impressive seven weeks.
“The disposal of N R Burnett’s assets was an exciting opportunity, thanks to the exceptional quality of the machinery and timber stocks, all located on one site," says Richard Travis, Industrial Specialist at BPI. "We received tremendous interest from buyers, and the vendor was delighted with both the sale proceeds and the efficiency of the process in just seven weeks from start to finish. The success of this sale reinforces how effective our online auction platform and marketing strategies are in delivering outstanding results.”
