Who would you have do an online auction of your place if you retired or whatever ? - Page 2
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  1. #21
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    Can you sell building complete with machines and tooling as a complete machine shop for sale, ready to go?

  2. #22
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    Quote Originally Posted by Milacron View Post
    Yeah HGR would likely be a pretty bleak offer....they have to assume everything is broke in some way when nearly all my stuff works perfectly and much is pristine clean. .......
    That would be a very bad option and hurts so much to see it suggested by a member.
    Bob

  3. #23
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    Quote Originally Posted by triumph406 View Post
    At which point they say 'thanks but no thanks, we'll find another building'
    That's not a given until we hear it from the potential buyer. Everything is negotiable.

    Reason I suggested countering their time line is a friend selling an automotive machine shop is in a similar situation. A diesel repair shop is buying business and contents and wants the dirt too. For tax reasons, my friend wants to lease them the building for five years and then sell it to them. They're grumbling, but appears they'll take his terms.

    Another consideration is if there's one potential buyer who's done his homework and thinks the property is desirable, there'll most likely be another one along a year from now who will want it if it's listed. Highly unlikely this is the only offer ever to come along.

    jack vines

  4. #24
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    Don't you have to start with the list of auctioneers actually licensed in your state? I expect some of the good ones in WA aren't actually licensed to perform an auction in SC. (Presumably the big nationals are licensed in every state.)

    And from I sometimes see these days, disposing of a lot of machinery in an auction may extract the quick cash, but didn't seem to actually empty the building....

    There is an auctioneer near me who seems to sell a lot of stuff out of their own lot - but I seriously doubt they'd deal with anything in SC (though I've seen them list things a couple states away.)

  5. #25
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    Quote Originally Posted by PackardV8 View Post
    That's not a given until we hear it from the potential buyer. Everything is negotiable.

    Reason I suggested countering their time line is a friend selling an automotive machine shop is in a similar situation. A diesel repair shop is buying business and contents and wants the dirt too. For tax reasons, my friend wants to lease them the building for five years and then sell it to them. They're grumbling, but appears they'll take his terms.

    Another consideration is if there's one potential buyer who's done his homework and thinks the property is desirable, there'll most likely be another one along a year from now who will want it if it's listed. Highly unlikely this is the only offer ever to come along.

    jack vines
    Who's we? You expect the buyer to come here and explain to you what would be acceptable LOL

  6. #26
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    The problems with negotiating an extra year (aside from losing the sale) are that owning a building for 1yr is not free, and that 1yr of a persons time used to sell the stuff off is also not free. So all the expenses above work towards offsetting the gain of getting better money for the equipment.

    Consignment as someone else mentioned just sounds to me like a way to end up with the same auction profits, but drawn out over many years.

    Money is not everything, and for a lot of people the freedom gained by stepping away fast is worth a whole lot more.

    Just think of the auctions you have been to where you didn't buy anything, and scratched your head at the prices others payed. Then hire that auctioneer..

  7. Likes Milacron, bryan_machine liked this post
  8. #27
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    Just a little thought experiment:

    If, if, if you had a contract on the building that you were sure would close and you had decided it really was time to move on and someone offered you $300,000 cash for your $400,000 inventory right now —- would you do it?

    If the answer is yes, I’d post your machines here and ebay at sharp prices take real offers and clear the place out and get on with the next part of my life.

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  10. #28
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    MMI would jump at this and they'll tell you all about their "250,000 registered buyers !"

    Warning, Will Robinson. Danger Danger.

  11. #29
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    Whats involved in getting an auctioneers license in SC? You could then just hold your OWN on line ONLY auction on bidspotter.

  12. #30
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    A few tips.. make sure they list on bidspotter. Pick a company that will ship small stuff like Hoff. You can make a killing on the small stuff this way. If that is out find a local "sell it for you on flea bay person" and have them quote pack and ship costs to go in the description. Do a few google searches and see who advertises best. I like MNA. Nice folks that have good communication. Good luck

  13. #31
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    Stupid suggestion time, …...hold your own closing down sale ...say;- whatever% off list price or make me an offer, first come first served, all got to go etc etc

    And save yourself the charges and fees etc etc.

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  15. #32
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    Quote Originally Posted by Milacron View Post
    nearly all my stuff works perfectly and much is pristine clean.
    Probably too modest. Don's "inventory" is in better shape than anything you are likely to see "for sale". More akin to idols being worshipped as a museum or religious thing!

    My timeframe is 3 months out. Agree about not pre selling desirable machines as they are needed to attract buyers for all else.
    Sale of the OWNED fixed-plant is key, and that time is actually fairly tight if the Drop Dead Date is immovable.

    Might the situation justify a six months to one-year rental of more densely packed temporary storage space to allow more time - say a year - for more favourable sell-off?

  16. #33
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    Quote Originally Posted by Milacron View Post
    Assuming "retail used value" in the $400,000 range.... (i.e auction value probably half that or less...so yeah, I realize that is way too low to be of interest for folks like Asset Sales....but not for ?? ) I ask as I have an offer to buy my building at a nice profit over what I paid for it, but would have to auction off all inventory to take them up on the offer. I've told them 3 months to close... not even sure that is enough time.

    I'm thinking ~10 days from auction open to close..online only....but thoughts there are welcome as well. The place is really too tight to hold a live auction audience.

    Whatever you do, don't hold it in the summer. My uncle did that and the turnout was terrible, and prices were way down.


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