Auctions have a long history, dating back to Biblical times. Traditionally, auctions were held on the site of the company being sold or where the company's assets were located. Maynards began holding auctions in 1902 and specializes in asset conversion of commercial inventories and industrial equipment. While the majority of our auctions are still held on site, Maynard's audience has grown larger because of our ability to use the Internet to tap into the global market. We can now invite more people from around the world who would like to participate in an auction. By hosting simultaneous webcasts of our auctions over the Internet, this allows greater visibility between the seller and the purchaser. Our participants can now join us from as far away as India, China or Japan. Local bidders can also take advantage of our webcasts, as they have the opportunity to participate from the comfort of their offices or homes.
By registering online to join in an auction, we now have a more accurate count of our participants. Thus, we can refine our marketing so we can alert our audience of an upcoming auction. We are constantly thinking of ways to make our auctions more accessible and more widespread. We continue to be a global leader in the liquidation and appraisal of industrial assets.
With offices spread throughout North America and Japan, including five permanent locations, this positions Maynards as a global leader in appraisals and auction. Their partnerships in every state account for the trust and experience Maynards has in asset recovery contracts with many fortune 500 companies.
Maynards expertise and professionalism extends itself through the entire process of an appraisal or auction and includes all facets of sale transactions from consignment, transportation logistics, sale management, asset tracking, financial reporting, payment and final reconciliation. Maynards has always been successful in establishing a positive working relationship with its clients and each person involved in the project, which enhances the overall project success.