SPARTANBURG — August 2011 — Yellow Tag Auctions, LLC, based in Spartanburg County, South Carolina,
was recently launched as a unique, full-service online auction house, providing services for
businesses, financial institutions, and government entities. Conceived by Andrew J. Falatok,
founder and CEO of established pre-owned textile equipment dealer Tex-Mach, Inc., and auction
professional Michael Frate, Yellow Tag Auctions offers tailored solutions for purchasing and
selling assets and inventory monitoring.
One of a handful of companies in the Southeast offering this type of turnkey approach to
asset management, Yellow Tag Auctions provides a truly remarkable service to its customers. Typical
asset liquidations may take six months to a year, but Yellow Tag Auctions can handle the process
from valuation to shipment in as little as 45 days, freeing up valuable employee time and storage
space. With access to domestic and international buyers vying in an online auction, Yellow Tag
Auctions increases profits for sellers. The company’s exclusive Yellow STAR (Strategic Targeted
Asset Recovery) System also helps large organizations manage idle assets and surplus inventory,
allowing them to maximize internal reutilization and generate cash flow.
“With our combined backgrounds and expertise, Michael and I are excited to launch this
cutting-edge business that offers exceptional service and an online bidding environment, creating
greater transparency in pricing and benefiting our customers by maximizing their returns,” says
co-founder Andrew J. Falatok.
Yellow Tag Auctions is also pleased to announce the addition of Bob Ashworth to its team as
Vice President of Sales. A longtime sales professional, Ashworth has been involved in the asset
appraisal and liquidation business for the past 30 years. He started in the auto auction business
and has been a key member of the management team for nearly 20 years at Tex-Mach, Inc., a dealer of
pre-owned textile equipment, where he oversaw liquidations and auctions for companies worldwide.
Yellow Tag Auctions co-founder Andrew J. Falatok is also founder, CEO, and President of
Tex-Mach, Inc., a pre-owned textile equipment dealer for more than 20 years, based in Mayo, South
Carolina. He was a pioneer in bringing increased professionalism to the pre-owned industrial and
textile equipment business, working with mill and factory owners around the world to maximize
returns on idle assets. Falatok is a member of the National Council of Textile Organizations and
Southern Textile Association.
Michael Frate, co-founder and Vice President of Operations, has been actively involved in the
industrial and commercial auction and liquidation business since 1985. He has overseen more than
200 live auctions, including the six-day auction of Todd Shipyard in San Pedro, California. He
worked for startup TradeOut.com as Director of Industrial Auctions and as Vice President at Asset
Auctions, he oversaw the development of multiple, new market segments.
Yellow Tag Auctions, LLC operates under South Carolina Auction Firm License Number 4000.
Posted on August 23, 2011
Source: Yellow Tag Auctions