My Dads Shop- advice for liquidating

[SoCalMachineShop]

I'd hate to see you go to auction.
Just sell it off by the piece for your best deal.

So tempting. My only concern is it taking too long to benefit financially since we would still be paying rent and utilities. If I could get everything out of there in 2-3 months id do it but that seems unlikely? [emoji2370] how long realistically do you think it would take with a good concerted effort? Thank you!


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[bob]

I think auction for the machines is your best bet. However, a word of caution. Choose a good auctioneer if there is such a thing. Make sure there is a clear understanding of what they will do for adverizing and setup. Once the auction is over they have your money, there won't be any negotiating if you don't like the job they did. I think a good idea to get a rigger involved so you can quote loading costs right up front. Since they don't know much about this stuff and dont really give a shit work with them so that stuff is put in proper lots and well described and pictured especially for small stuff and tooling. Watch what they will be charging as buyers premium. If they want 20% its going to hurt your net.
Bob

 

[neilho]

Rigging is important to the buyer. If the shop has a forklift and can load free, that's a big difference from having a designated rigger charge whatever they want. Either can work, so long as it's clear to the buyer what the situation is.

 

[SoCalMachineShop]

I think auction for the machines is your best bet. However, a word of caution. Choose a good auctioneer if there is such a thing. Make sure there is a clear understanding of what they will do for adverizing and setup. Once the auction is over they have your money, there won't be any negotiating if you don't like the job they did. I think a good idea to get a rigger involved so you can quote loading costs right up front. Since they don't know much about this stuff and dont really give a shit work with them so that stuff is put in proper lots and well described and pictured especially for small stuff and tooling. Watch what they will be charging as buyers premium. If they want 20% its going to hurt your net.
Bob

Good info. Thank you!

 

[SoCalMachineShop]

Rigging is important to the buyer. If the shop has a forklift and can load free, that's a big difference from having a designated rigger charge whatever they want. Either can work, so long as it's clear to the buyer what the situation is.

Appreciate this tip. Thank you!

 

[mattthemuppet]

I dabble in ebay selling on the side and can just imagine what a monumental task clearing out a shops worth of tooling via ebay would be. It is tempting to go this route for some things as we would get a bit more than at auction. Are there any types of tooling in particular that sell well on ebay? Do you think punch press dies or press brake dies would sell well on ebay? Thanks for your help

can't really speak to press dies, but my guess would be that you'd be better off selling them with the press itself (or in the same auction). Stuff that sells well - carbide carbide carbide. Put it in handy mixed lots of 15-30 pieces up to ~1/2" and it will sell well for good money.

 

[Big B]

Shop of similar size/capacity I'm involved with is going to auction. Looking like all said and done auction co will take about 45% of sales prices.

The owner first thought that wasn't so bad to get everything sold and he told his friends he'd sell stuff for 50% of market value before the auction co came in. Well, he kinda sold more than he was expecting real quick and now he's worried there may not be enough to have a real auction.

If/when I need to sell off my shop If I want fulltime employment then I'd probably liquidate it all myself. If I'd rather not work that hard or there's a specific clean out date then I will have an auction and stuff will be gone.

I don't think anyone ever gets top dollar for their equipment if you factor in your time selling it.

Deb, pay special attention to the last line of Garwood's post. I sold a South Bend lathe years ago and got a few calls from lonely old men that weren't the least bit interested in buying my lathe but just wanted to talk to someone who actually knew what a lathe is.

I've told my personal representative of my estate that I really don't care what method they use to dispose of my assets but that an auction is probably the best way. At the start of the auction you have buildings full of stuff and when the auction is over you just need to sweep the floors.

 

[tim9lives]

Sounds like your dad owns the building and you’re not under the gun with going into Probate. You can spend a little effort and time and get a much better price.
That said, if money is of no issue, then you can be done with it licked-ly split.
Personally, I think I’d take a stab on EBay. If your dad has a forklift or way to load heavy stuff such as a crane or such…. That’s a huge plus when listing. Since you’ve been helping him, money wise, you’ll definitely do better on EBay.

 

[concordmt]

Machines For Sale

Here is a list of some of the larger items we have:

The last 10-15 years our 10K shop was down to 3-4 guys so these machines were used at most 1 week a month. I'll get actual hours soon.

• 2014 Okuma Genos L200E-M lathe with live tooling & chip conveyer plus optional ATS EC-565 Bar Feeder
• 2006 Bridgeport/HardingE VMC 1000 XP3 CNC Mill with chip conveyer
• 2000 Okuma MX-45VAE CNC Mill with Chip Conveyer
• 1995 Tree VMC 1050 Model 1050/24 CNC Mill with ATS ACcu-smart 65 Indexer
• 2 Trak Knee Mills- One is Model K3, one is Model KE purchased 2008 and 2009
• 1999 Okuma Crown Lathe 762E with chip conveyer and CNC enhancements Autobar 300 Bar feeder
• 1997 Tree TC-615 CNC Lathe with chip conveyer and SMW Spacesaver 2000 Bar Feeder
• 2018 Okamoto 618B Linear Grinder
• 2 Cadillac Manual Lathes model 1440G
• Harrison Manual Lathe 20" x 96"
• Chicago Dreis & Krump Press Brake 8’ Model 810-C
• Large lot of Press Brake Dies
• Grob Vertical Bandsaw 24” with welder
• Niagra 10’ Power Shear with custom made 20' feeder table
• 6 large Press Punches from 20 ton to 160 ton Brands: Minster, Diamond, Ferracute, Summit, Thomas
• 36" Sheet metal handroll
• 3 belt sanders
• Rutland Horizontal Bandsaw
• Gantry 1 ton crane with hoist
• Millermatic 35 DC Welder
• 1930's Clark Forklift 1 ton that works great
• 2 Chevalier Surface Grinders
• Speed D Burr deburr machine model 40
• 2 sandblasters
• Baldor Bench Grinder
• Procurer Tapping machine
• A few Drill Presses of various sizes

A lot of misc items, tooling, industrial tables and workbenches, industrial shelving & cabinets, inspection equipment, LARGE lot of punch press dies, Dust collector vacuum system for grinding room, compressor, etc.

I'll attempt to post "right side up" pictures next

Did you sell the Okuma L200E lathe?

 

[SoCalMachineShop]

Did you sell the Okuma L200E lathe?

It's up for auction right now ending at 11:00 am

United Asset Sales | 2014 OKUMA GENOS L200E-M LIVE TOOL, OKUMA CROWN 762E & TREE TC-615 CNC LATHES, HARDINGE BRIDGEPORT VMC-1000XP3, OKUMA MX-45 VAE, TREE 1050/24 lots

Bid Live at United Asset Sales's 2014 OKUMA GENOS L200E-M LIVE TOOL, OKUMA CROWN 762E & TREE TC-615 CNC LATHES, HARDINGE BRIDGEPORT VMC-1000XP3, OKUMA MX-45 VAE, TREE 1050/24 auction

www.bidspotter.com

 

[Rob F.]

I just saw your post about the auction ending today. I tried to get to it in time to bid on your press brake but was late and watched it go off line with about 30 seconds.... I saw it did not sell and am still interested in it. Will you sell it to me or should I try to contact the auction guy?

 

[SoCalMachineShop]

Hi Rob, Go ahead and contact our Auctioneer. He may have sold it but it is worth a shot.
Thanks so much!