Navigating Corporate Office Auctions: Trends and Insights
Over the past several years as employees transitioned to hybrid or remote statuses, Grafe Auction worked with businesses to liquidate their office equipment. From companies spanning floors upon floors of offices in city skyscrapers, to those with multiple buildings of their own, corporate office auctions are no small feat. In this blog we'll explore several of those auctions, pointing out trends, notable sales, and other insights into what corporate office auctions entail.
C.H. Robinson Corporate Office
In May of 2024, Grafe Auction worked with C.H. Robinson to auction their corporate office equipment in Eden Prairie, Minnesota. This one-day auction event consisted of 1,704 lots and 758 bidders who placed 118,043 bids. The auction featured a wide range of office furniture, electronics, and equipment, with a heavy focus on Steelcase products.
Trends
- Steelcase Dominance: Steelcase furniture dominated the sales, indicative of its popularity and longevity in corporate settings.
- Steelcase cubicle sections and workstations were sold in various configurations, allowing for customization of office layouts.
- Sit/Stand Desks on the Rise: The significant number of Steelcase sit/stand desks reflects the growing demand for ergonomic workspaces.
- Monitors and Technology: A substantial amount of monitors and other IT equipment were sold, reflecting the reliance on technology in modern offices.
- Office furniture sets and combinations were popular, offering buyers a convenient way to furnish entire workspaces.
Notable Sales
- Steelcase office chairs: Average price of $100 - $200, indicating their value and widespread availability.
- Laminate tables: Average price of $100 - $300, reflecting their durability and versatility.
- A table set with benches sold for the highest price of $2,750.00, reflecting the premium associated with well-maintained, high-quality furniture.
- Large flatscreen TVs: (70" and above) generally sold in the $300 to $600 range, with some premium models fetching higher prices.
- Smaller monitors (22" to 24") sold in the $5 to $20 range, often in bulk quantities.
- Whiteboards, cork boards, and room dividers were in demand, reflecting the need for collaborative spaces and privacy in office environments.
- Some unique items like massage chairs, treadmills, and a putting practice set added variety to the auction offerings.
Corporate office auctions like these not only provide a platform to purchase high-quality equipment at competitive prices, but also offer a diverse array of items. From essential office furniture like file cabinets and sit/stand desks to high-tech items like large flatscreen TVs and state-of-the-art printers, buyers have a unique opportunity to enhance their workspaces economically.
CNO Financial Group
Grafe Auction is currently working with CNO Financial Group to auction off equipment from their corporate campus, which includes several buildings of assets. Buildings range from a 160,000+ square foot, two-story building which included kitchen equipment, office furniture, tech, and more, to a fitness center, and other buildings with office and break room equipment. This analysis includes two of the auctions that have been completed so far - stay tuned on our events page for future auctions for the facility!
CNO Building J: Corporate Dining Essentials
This auction consisted of 1,052 lots that primarily included kitchen and food service equipment, reflecting the prevalence of comprehensive on-site dining solutions in corporate environments. The auction included popular brands like True and Beverage Air, with notable sales like these high-quality commercial kitchen appliances:
- An Ice-O-Matic self contained ice head with stainless steel ice storage for $2,000.
- A Beverage Air Horizon Series portable refrigerator for $1,900.
- An Alto-Shaam portable cook and hold cabinet for $1,800.
- Average Prices:
- Large flatscreen TVs sold for $350 - $750.
- Office desks were $500 - $700.
- Conference tables ranged from $200 - $500, depending on size and material.
- Office chairs sold for $50 - $150, with some high-end models reaching $300+.
CNO Building K: Furnishing Modern Workspaces
CNO Building K's auction covered a spectrum of office necessities over the course of 1,343 lots, from diverse furniture selections that cater to various workspace needs to essential technology and audio-visual equipment. Highlights included:
- High-end refrigerators ranged from $2,750 to $3,250.
- A set of Metal decorative wall panels sold for $3,000 (4 units at $750 each).
- Average Prices:
- Adjustable height desks from Steelcase typically sold in the $250 to $350 range, often including monitors and accessories.
- Large flatscreen TVs (65" and above) generally sold in the $300 to $500 range.
- Office chairs varied widely in price, with most selling between $50 and $200, depending on brand and features.
- Laminate conference tables ranged from $200 to $800, depending on size and included features.
CNO Buildings J and K, and CNO Fitness Center
CNO Fitness Center
The CNO Financial Services corporate offices included much more than just office equipment. Aside from desks and furniture, the auction series also included a fitness center with high-end fitness equipment, with interest in treadmills, ellipticals, and weight machines from bidders. Highlights included:
- A Matrix dual column cable station sold for $3,750, the highest single item price.
- Hoist dumbbell sets with rack (5-75 lbs) sold for $2,000.
- Matrix treadmills consistently sold for high prices, ranging from $1,300 to $1,900 each.
- A set of Hoist fixed straight barbells with rack sold for $1,700.
- A Matrix Rower-02 magnetic row machine sold for $1,400.
Significant Insights Across CNO Financial Auctions
These auctions illustrate the increasing trend of corporate offices enhancing on-site amenities like dining and fitness facilities, which supports employee convenience and satisfaction. They also highlight the evolving needs of modern office environments that prioritize technological integration and comfort.
Target City Center Corporate Offices
Our first auction for Target's City Center Corporate Offices in downtown Minneapolis took place in July of 2023. Since then, we've completed eight auctions, with more to come. This blog details auctions 4-8 that occurred from October 2023, to June 2024.
For a more detailed description of Target's office auction, plus information on auctions 1-3, read our blog here.
Auction Trends
Similar to the auctions listed above, the Target City Center office auction equipment dominated categories such as Steelcase furniture, sit-stand desks, and IT equipment. These auctions have had some other unique items though that made notable sales:
- A Republic of Fritz Hansen cloth egg chair and Bernhardt Design 3-piece sectional: Sold for $1,700.00 each, demonstrating the value of designer furniture.
- A Laminate conference table with 10 office chairs sold for $2,200, showing that while these corporate offices closed down there are still many out there where employees are back to full-time in-office work.
Reimagining Corporate Workspaces: Insights from Target’s Auction
The auction data from Target's corporate assets confirms a significant shift towards ergonomic and adaptable work environments, highlighted by the prevalence of sit-stand desks and collaborative furniture. This trend underscores the evolving nature of modern workspaces, prioritizing ergonomics and flexibility to enhance employee productivity and well-being. That sit-stand desks were popular in all of our corporate auctions so far demonstrates that purchasers also commit to that trend.
Tuesday Morning Office Liquidation
Similar to the auctions covered so far in this blog, the Tuesday Morning auction featured a wide range of items, including office furniture, technology, and kitchen equipment, providing a comprehensive look into the assets of a retail company's corporate office.
Notable Sale and Trends
- Technology items and IT were prevalent in the auction. In fact the complete collection of all of the office's IT equipment sold for $21,280.50, the highest lot sale.
- The highest sale following the IT gear were faux leather conference room chairs, which sold for $1,900.00.
- Average Prices:
- Office chairs: Average price of $50 - $200, reflecting their value and widespread availability.
- Laminate tables: Average price of $100 - $400, indicating the importance of meeting spaces.
The Tuesday Morning office liquidation showcased a successful removal of significant corporate assets, highlighting the practical value and demand for quality office and technology equipment in the marketplace. Like the auctions mentioned above, this auction not only allowed for the efficient reallocation of valuable assets but also provided insights into the evolving needs and preferences within corporate office settings, emphasizing the importance of modern, versatile office furnishings and high-tech equipment in enhancing workplace functionality and productivity.
Trends in Corporate Office Auctions: A Recap
The above analysis of corporate office auctions uncovers several key trends that are shaping the landscape:
- Prominence of Steelcase: Steelcase products continue to dominate auction sales, highlighting their widespread adoption and trusted reputation in corporate environments.
- Ergonomic Innovations: There's a noticeable increase in the auctioning of sit/stand desks, reflecting a broader shift towards ergonomic solutions in the workplace to enhance employee health and productivity.
- Technological Essentials: The consistent presence of essential technology like monitors, printers, and audio-visual equipment at auctions underscores the critical role of digital tools in modern office operations.
- Sustainable Practices: Corporate office auctions serve as a sustainable alternative for disposing of excess assets, offering businesses the chance to secure quality equipment at reduced costs while supporting environmental sustainability.
- Collaborative Spaces: The rising number of collaborative furniture pieces such as conference tables and lounge seating points to a growing trend towards creating more interactive and engaging workspaces.
This analysis not only highlights the diversity of assets available but also signals priorities towards ergonomic comfort, technological integration, and collaborative environments in today’s corporate settings. By staying informed of these trends, businesses can strategically manage their assets and make informed decisions during their own liquidations, while buyers can capitalize on these evolving opportunities in the dynamic auction market.
Ready to maximize the value of your corporate assets or seeking quality office equipment at competitive prices? Contact Grafe Auction today and join us at our next auction to experience efficiency and professionalism that stands apart. Visit our events page or contact us to learn more and view upcoming auction schedules.
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