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OT: HGR Markdown Policy

adh2000

Titanium
Joined
Dec 21, 2005
Location
Waukesha, WI
How long do they list the item before “markdown”? Do they always markdown some percentage? If it still doesn’t sell is there a second markdown?


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How long do they list the item before “markdown”? Do they always markdown some percentage? If it still doesn’t sell is there a second markdown?


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They use to mark items down faster than they do now, I think their profits might be taking a hit with everything that's going on?

You can make an offer as well?

Kevin
 
I have noticed the "last chance" is way way above scrap and often way way more then it's worth.

I suspect that "last chance" is above a bid/offer someone has put in.
Probably the "high rollers" that get invited in, after hours.

IIRC a lot of stuff goes out in containers.
 
I suspect that "last chance" is above a bid/offer someone has put in.
Probably the "high rollers" that get invited in, after hours.

IIRC a lot of stuff goes out in containers.
I've bought "last chance" items with very low offers... sometimes half of the "last chance" price, but still generally above scrap.

Sent from my SM-G950U using Tapatalk
 
How long do they list the item before “markdown”? Do they always markdown some percentage? If it still doesn’t sell is there a second markdown?

Yes, basically a reverse auction. An item is listed for a period of weeks and then discounted (not uncommon to see 15-20%) every few weeks afterwards. I don't think the markdown rules are the same for all item types. New items are excluded from advertised sales.

They use to mark items down faster than they do now, I think their profits might be taking a hit with everything that's going on?

I've bought a number of things there and was just in a few weeks ago to pickup something. When I asked I was told they were on track to have one of the best years to date. They are definitely less aggressive on pricing than previously.
 
Yes, basically a reverse auction. An item is listed for a period of weeks and then discounted (not uncommon to see 15-20%) every few weeks afterwards. I don't think the markdown rules are the same for all item types. New items are excluded from advertised sales.



I've bought a number of things there and was just in a few weeks ago to pickup something. When I asked I was told they were on track to have one of the best years to date. They are definitely less aggressive on pricing than previously.

I've been there several times in the last few months, it's never busy like years past? I wonder if they changed their pricing and markdown schedule to keep up with the changing market?
I know they take machines on consignment, I figured the machines that don't change in price for a long time are owned by someone else?

Kevin
 
I've been there several times in the last few months, it's never busy like years past? I wonder if they changed their pricing and markdown schedule to keep up with the changing market?
I know they take machines on consignment, I figured the machines that don't change in price for a long time are owned by someone else?

Kevin

I don't know, maybe he was feeding me a line. I know the periodic mark down is different on different categories. For example pallet racking gets very little discount. In the past year the discounts on the sales is very different. For machinery its mostly 10% now.
 
If you see something you're interested in at HGR, it might be wise to grab it before one of their young monkeys slams a forklift into it.
 
I don't know, maybe he was feeding me a line. I know the periodic mark down is different on different categories. For example pallet racking gets very little discount. In the past year the discounts on the sales is very different. For machinery its mostly 10% now.

Pallet racking....I was sent to a guy down the street from them, that's all he does.
He has a standing order with them, for most all the racking, if it hit's his price.
 
HGR since they changed hands has changed a lot. In some ways for the better.... in some ways not so much.

I used to be able to walk through make a list of numbers, sit down with a salesman, come up with a package deal, fill my truck, and head home with a mountain of goodies. I could sell the goodies I bought for resale and cover the whole load.

That doesn't work anymore.

I was just up there a couple months ago and the idiocy continues. I brought my salesman two lista cabinets that I was interested in buying. Both were identical. Same model, same everything, both had tow motor dents and dings, same paint, etc. One was $1400 and one was $1000. I wanted both to build a setup bench across from the Brother for inspection, gauges, fixtures, tooling, etc. Would not budge an ounce.

The other I laughed at was a Moore #2 Jig Grinder. It was marked as "Last Chance" and had been "Last Chance" for over 3 months. It was metric, and everything was German. He wouldn't budge from the $850 marked price.

I buy Abrasive Surface Grinders whenever I see them, and they had one that was "Last Chance" they wanted $500 for. I had just bought one a couple months prior for $220 "Last Chance" but, even seeing that, the salesman would not come down from $500. When I was up there this last time he told me they scrapped that $500 surface grinder. They might have gotten $100?
 
I called them about a few machines I was interested in. I was told they will not power up a machine for you but some customers bring in small generators to power up the control. I asked if I could bring a 3 phase generator then and they avoided the question and told me they have a 30 days return policy. Lots of good that does on a 20,000 lbs plus machine :nutter:

I'm sure someone will buy a machine from a seller that doesn't even know if it works but that someone isn't me
 
I saw that they had a 40% off sale on long-held tooling under $100 in aisle 6. I found a lathe chuck that was in aisle 6 and had been in stock for months and currently priced under $100, so I made an offer of 40% off the asking price. The answer was that lathe chucks are "machine tools," not "tooling," so I could only get 10% off. Good to know HGR's interpretation of machinists' English for future reference.

I did get 40% off a good microscope, so I shouldn't complain. And I have to say they do a great job of packing the (UPS-size) stuff I bought.

Larry
 
I don't know specifics, I just know somewhere in the early 2000's the owner(s) sold.

They have invested a large amount of capital into the building, computer systems, etc.

They haven't changed the ignorant and stupid salesman, terrible/incorrect descriptions, broken handles, lost parts, etc. So I guess it is a work in progress.
 
I don't know specifics, I just know somewhere in the early 2000's the owner(s) sold.

They have invested a large amount of capital into the building, computer systems, etc.

They haven't changed the ignorant and stupid salesman, terrible/incorrect descriptions, broken handles, lost parts, etc. So I guess it is a work in progress.

When you're descriptive like that I know for sure you are talking about the same person I spoke to on the phone LOL
 








 
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