 When
a top-quality motor coach manufacturer sustained smoke and
soot damage to 25 brand new coaches, the insured removed
all warranties and these “Refurbished Vehicles”
totaling nearly $4.3 million in insured value were turned
over to Stoner & Company to be sold “as-is”.
We started by separating the stock into 5 Lots to maximize
the sale. Then, by utilizing the REAL value of the internet
for insurance salvage – buyer research and notification
– buyers from across North America were sent comprehensive
bid packages and were invited to attend our online liquidation.
The results of our online liquidation: at least 11 serious
bids were received on each Lot with the final sale of $3.92
million or over 90% of insured value! And both the insured
and the insurer were pleased that we were able to remit
all proceeds in less than 30 days from the date of loss.
When we were called upon to liquidate the IT assets of one
of the world's largest financial institutions, it required
a great deal more than simply calling in the "surplus
and salvage" electronics buyers or putting up an offering
on a website through which these buyers could bid.
The tens of millions of dollars worth of equipment had to
be carefully catalogued and coded, disconnected, packed
and transported. And to ensure security, every bit of data
had to be "scrubbed" from hard drives to DOD and
SEC specifications.
After this work, Stoner and Company partnered with the world's
leading auctioneer of such assets. Over a two day period,
a live, on-site and global Web cast auction was conducted
on... not 10 or 100 or even 1,000... but over 5,000 individual
lots!
This salvage industry first--a truly live and completely
transparent web cast auction--brought in millions of dollars
and beat estimates by $750,000!
 Following
a fire at this personal products distributor's warehouse,
one salvage expert speculated that "maybe $200,000.00
could be pulled out" and that we "might be able
to cover our expenses."
The Stoner & Company team brought labor, equipment,
and unmatched experience to the scene. Salvageable product
was literally dug out from the racks and debris piles, and
inventoried by graded condition.
The rescued product was packed, skidded and shipped to our
local warehousing where salvage merchants from across the
country, relying on the integrity of our inventory and skilled
evaluation of merchandise condition, purchased pro-rata
shares of the stock.
The recovery? Over two million dollars!
 In
minutes, a tornado roared through an Oklahoma community
and tore off this warehouse’s roof, exposing 17 million
pounds of rolled paper stock to the elements. Within hours,
Stoner & Company was managing the largest U.S. paper
salvage project: dealing with 30-foot high paper rolls that
required specialized equipment for handling; preserving
the exposed stock; mitigating extreme safety and liability
concerns; and, acquiring equipment, warehousing, and personnel.
Within one day of accepting the sole liability of running
the project, Stoner & Company started moving stock to
a temporary location at the rate of 550,000 pounds a day.
We inventoried, graded, shipped, segregated, restored and
ultimately sold the paper stock via sealed bid, with a gross
recovery of $3,900,000.00. And we did it all in 45 days.
It takes a special firm to deal with stocks of this magnitude.
At Stoner & Company, we know where to go for the equipment,
insurance, specialized personnel, warehousing, trucking,
and contractors. And, to make it all happen quickly, Stoner
& Company financed the entire salvage project.
 When
fire struck this tomato packer's warehouse, it left one
million cases of mostly bright (unlabeled) canned goods
with fire, smoke, and water damage. Public health authorities
had embargoed about 40 percent of the stock.
The insured valued the remaining product at $1.8 million,
exclusive of substantial dumping costs. Stoner & Company
guaranteed better results. We solicited and then rejected
sealed bids totaling $2.4 million. We determined that we
could maximize recovery by moving all 681 trailer loads
to secure warehousing for reconditioning and distribution.
It wasn't the easy answer. We had to spend over $600,000
on the project, but we increased the net recovery to the
insurance company to $3.7 million. We also reduced the dumping
costs, to $39,000 for only four - not 40 - percent of the
stock. How did we do it? By moving quickly, decisively,
and by knowing how to satisfy the regulatory agencies’
requirements.
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