Frequently Asked Questions

frequently asked questions

Here are some of our Frequently Asked Questions

End-of-Life (EOL) refers to electronic components that have reached the ‘end of their production life’. The manufacturer will identify an LTB date (Last Time Buy) and subsequently ceases production once all LTB orders have been fulfilled

 

Components are identified as ‘Obsolete’ when the manufacturer has completely ceased production.

This is surplus or excess stock of electronic components that is no longer required for production. This can be caused by a number of reasons; over-forecasting, cancellation of production, change of design etc.

You can free up valuable factory or warehouse space, whilst releasing capital tied up in your excess stock.

If you have excess electronic components, then we can potentially buy them from you. Send us your stock list or give us a call for a free evaluation and to discuss your options.

We buy all types of electronic components, including ICs, Semiconductors, Inductors, Connectors, Capacitors, Transistors, Resistors and LEDs.

You can send your excess stock list to [email protected] or you can fill out our form here.

We ship your excess components to our warehouse facilities in the UK or USA. We then inspect and advertise the stock for sale across our large OEM and CEM database. Any items deemed unsatisfactory for resale are recycled via our approved recycling partners.

We ship your excess components to our warehouse facilities in the UK or USA. We then inspect and advertise the stock for sale across our large OEM and CEM database. Any items deemed unsatisfactory for resale are recycled via our approved recycling partners.

Every client is different, so we will manage your expectations on a case by case basis. Our goal is to purchase and remove stock within 48 hours, however your specific circumstances will be discussed at every stage of any agreed purchase of your excess stock.

We aim to make an offer within 24-48 hours for outright purchase. If you want to consider consignment with RRPs, it can take a little longer to calculate competitive market prices for all items, but we will keep you informed during the process.

We check your stocklist against market prices and stock levels, sales history and targets we’ve received. We allocate a value to each line and can offer lot or line bids for your approval.

No, this is not a problem. We have international warehouse locations and can arrange collection from most countries around the world. We also pay for all freight costs.

No, we will need a stock list from you that contains part numbers and quantities as a minimum. The good news is we can help you build one, so talk to one of our account managers to see how we can help you.

This does depend on the number of lines you have, the market conditions and type of components you would like us to sell. We manage consignment lists ranging from 5 to 20,000 lines. Rest assured, that you have full ownership over your stock until any sale is finalised.

We can help with that still. Depending on the information you can provide, we may ask for photographs or may even be able to visit you to assess the stock on site. Alternatively, we can bring the stock to our warehouse for complete assessment. We will inspect, photograph and itemise the entire list and produce an inventory report for you.

We ask for a minimum selling period so that we can recoup any logistics costs that we’ve incurred. The stock remains your property until sold or returned and if you require items back, we can arrange for these to be despatched to you once the minimum period is covered.

Here is our simple 6 step process:

  • Send Cyclops Excess your excess stocklist
  • Receive an outright bid
  • Agree to sell or consign
  • Receive your cash injection
  • Cyclops pays for all the shipping
  • Offset any losses against future tax

Let us know. If you have received a more competitive quote for your excess stock, speak to your account manager as we’d like the opportunity to beat any like for like offer that you’ve received

This depends on which option you choose:

  • Out-right Sale – We make payment in advance via bank transfer (TT) so that you receive cash in the bank before the goods are collected. If we have Net terms with you, we ask if we can use these against the invoice value.
  • Full Consignment – Each month you receive a sales report which highlights all the lines that are sold. Simply send us an invoice and we’ll pay via agreed Net terms ( Usually Net 1 or Net 30 )
  • Part payment and consignment – Receive a lump sum in advance ( As per Out-right sales ) but also receive an ongoing revenue from monthly sales ( As per Full Consignment )

We will guide you through the whole process and provide a dedicated account manager to give direct support, should you need it

We use custom-designed software to value your stock and to optimise the return you receive. We can assess market conditions to determine supply, demand and optimal RRPs to give your stock the competitive edge. You have total control over RRPs, but we will suggest pricing structures in order to ensure we can achieve a sale at the best possible price. We also provide monthly reports to show quotations, target prices and general activity on your stock.

We provide you with a contract to protect both parties. We can provide examples of the contract for you to pass to your legal team for approval before any agreement is made. We will detail the payment terms,  minimum contract period, RRPs etc. Speak to your account manager if you want more information about consignment and stock security.

All stock is fully insured, so any accidental damage whilst in transit will be covered by our insurance.

We need part number and quantity. However, if you can provide manufacturer, date code, Rohs status and C of Cs, this adds value to your stock and can enable us to offer a higher price.

Yes, we can advertise the stock on your behalf via our website. We also promote the items on 3rd party websites. You can have access to our XSsell portal that allows you to not only upload, modify and cancel listed stock, but also allows you to respond to target prices and view quotes and orders.