Beijing Arts and Crafts Factory is an old enterprise with a history of more than 40 years. Its cloisonne, jade carving, ivory carving, filigree inlay and other handicrafts are unique and famous at home and abroad. Used to be a well-known enterprise and a big foreign exchange earner in Beijing. However, by the middle and late 1990s, enterprises had a crisis. By July of 20001year, the enterprise finally applied to the people's court of Xicheng District, Beijing for bankruptcy as "insolvent". The bankruptcy work of & ltbr & gt Gongmei Factory went smoothly in the early stage, but some difficulties were encountered in realizing the property, especially the finished products. First, the liquidation team has no experience; Second, the quantity is large and it is difficult to realize. By chance, the liquidation team knew the name of the enterprise liquidation firm and contacted us immediately. Through understanding, investigation and analysis, we formulated the bankruptcy property liquidation plan, and emphasized three points: First, considering the whole bankruptcy process, we adopted the overall liquidation method; Second, under the premise of rationality and legality, it is completely market-oriented, open and fair, and does not hide it; The stock value of bankrupt property in Sangong Coal Plant is high, but the reuse value is low, so there will be a big gap between the market recognition value and the evaluation value. The liquidation team approved the plan and formally entrusted the work to the liquidation company through friendly negotiation. & ltbr & gt After accepting the entrustment, we published the auction information of bankrupt property on the "Property Rights Transaction Information Network" and published the auction announcement in The Beijing News on July 24, 2002. After the auction information and announcement were released, seven or eight companies came to discuss the acquisition. Therefore, Beijing Enterprise Clearing House and China Mining Auction Co., Ltd. have led interested customers to inspect the bidding target for many times, and the liquidation team has also introduced the bidding target in detail. However, most customers are only interested in part of the bankruptcy property after reading the samples, and do not want to buy the whole. Before the announcement of the auction, only three bidders registered in the auction company. In the end, two bidders, including Beijing Century Jiecheng Economic & Trade Co., Ltd., formally paid an auction deposit of 500,000 yuan and obtained the bidding qualification. When the auction conditions were met, the clearing house and China Mining Auction Co., Ltd. held an overall auction of bankrupt property in the trading hall of Beijing Property Rights Exchange Center on August 13, 2002. The subject matter of this auction is all the inventory products of Beijing Arts and Crafts Factory, and the assessed value of bankruptcy property is 5.78 million yuan. The auction was conducted in a combination of price reduction and price increase, with a starting price of 5.78 million yuan. After the price reduction of 13, no one bid 3.75 million yuan. At this point, the liquidation group has set the reserve price and recovered the auction target. & ltbr & gt After the auction of the bankrupt property of Beijing Gongmei Factory, the liquidation firm and the auction company made a timely summary according to the first auction, carefully analyzed the reasons for the auction, and thoroughly studied the actual market liquidity of the bankrupt property. It is believed that the high reserve price of auction is the main reason for auction.