The update will allow businesses to use the service to list the items they have for sale and sell them through AllSurplus' auction-style website, which could help them raise new funds at a critical time during the virus pandemic.
All fees for selling items on the marketplace have been waived for the time being for the same reason, the press release states.
AllSurplus currently sells around 5,000 assets for sale and separates them into around 100 categories.
CEO Bill Angrick expressed affection for small businesses and said the service could be useful for the current situation, in which people are discouraged from gathering in large groups to prevent the spread of the coronavirus. With AllSurplus, Angrick said users could feel secure doing business without having to necessitate in-person contact.
The press release states that sellers can use AllSurplus to list their items any time they want, from any location and on any of the numerous devices people can utilize today to do business. There are consulting services offered, which the press release states can resolve any issues that come up during the selling process.
The marketplace is run through the Liquidity Services tool and has 20 years of experience selling things. Over $8 billion in assets have traversed the market in that time period.
Some of the categories offered by AllSurplus include wholesale and retail goods, trucks of various sizes and weights, vehicles, construction, material handling equipment, IT assets and other types of manufacturing tools and equipment.
Companies in the time of the coronavirus have stepped up to help in varying ways, such as H&M’s foray into assisting with medical supply delivery in Europe. Using its massive supply chain network, the fashion brand wants to help distribute masks and other such supplies to those in need.