BUXBAUM GROUP INVENTORY APPRAISALS EXCEED $4.0 BIL. IN 2003
CALABASAS, Calif. (2/17/04) —Buxbaum Group’s appraisal division evaluated more than $4.0 billion in consumer products inventories at cost value during 2003. In addition to its consumer products inventory appraisal practice, the Calabasas-based firm’s Buxbaum/Century affiliate appraised machinery and equipment valued in excess of $500 million during 2003.
The firm executes appraisals on behalf of lending institutions at manufacturing, wholesale and retail companies, and recently launched a program to market its services to the financial community under the Roadmap™ brand.
Nearly 60% of Buxbaum’s consumer products appraisal activity for the year ended December 31 was on wholesale distribution inventories, some 10% was in the manufacturing sector, and the remaining 30% has been on retail inventories. This mix represents a shift from 2002, when the retail segment accounted for 46% of the inventories appraised by the firm, wholesale distribution comprised 43%, and the remaining 11% was derived from projects at a variety of combined manufacturing/wholesale distribution and/or wholesale distribution/retail operations.
“While our core strength and reputation over the years has been and remains as ‘retail experts,’ we’re pleased that our client base realizes that the breadth and depth of our expertise extends well beyond just retailing and into the manufacturing and wholesale distribution arenas,” said Buxbaum Group vice president Jim Siebersma, who directs the appraisal unit. “We’ve spent a tremendous amount of time throughout all of our divisions working in the manufacturing and wholesale distribution sectors on both consumer product inventories and, with the assistance of Buxbaum/Century, into more industrial types of inventory.”
In late 2003, Buxbaum Group rolled out its Roadmap™ for Retail appraisal model. The firm is now in the process of developing applicable Roadmap™ models for manufacturing, wholesale distribution, and machinery and equipment appraisals.
“We’re very excited about the future of our Roadmap™ appraisal models,” said Siebersma. “We’ve intensively honed in on the multitude of key criteria that impact value from a liquidation perspective and feel very strongly that our appraisal product focuses directly on all of the critical issues, characteristics and nuances of liquidation within all industry sectors. Distinguishing and understanding the many differences that impact liquidation of retail, wholesale and/or manufacturing inventories, as well as machinery and equipment, is an ongoing learning process. We feel it is our job to convey all that we know and continue to learn to our clients in a format that is comprehensive yet concise, straightforward and understandable to all parties concerned. Roadmap™ provides exactly that.”
During 2003, the firm also initiated a series of seminars for lenders that address the unique issues associated with appraising and liquidating wholesale inventories. “We’ve received very positive responses thus far from several of our lender clients to whom we have presented the seminar, and have further enhanced the content and direction based on the feedback received,” Siebersma noted. The firm has scheduled numerous presentations during the first quarter of 2004. To learn more about the seminar program, contact Buxbaum Group at 800-990-6820.
About Buxbaum Group - Buxbaum Group has built its reputation for over 30 years as one of the largest liquidators and appraisers of retail and wholesale inventories, as well as machinery and industrial equipment, across North America. A subsidiary, Pathway Strategic Partners, provides turnaround, expansion and/or downsizing strategies, in conjunction with other advisory consulting and management services.
Press Contacts: At Buxbaum Group, Paul Buxbaum, (800) 990-6820; at Parness & Associates Public Relations, Bill Parness or Lisa Kreda, (732) 290-0121