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    Default best plan to sell off entire shop?

    I'm sure this has been discussed before and I missed it.. did a few searches but didn't find exactly what I was looking for. Are those liquidation type services a total rip off? i.e., is it better just to have some company come in and handle everything? I understand I would get less than if I sold everything individually but what's the standard here? The machines would be easy enough to get rid of but the thousands and thousands of pounds of tooling and consumables are more what I'm thinking about and I definitely don't want to do eBay or sell lots of em's and tooling as I'll be here for three years doing it.
    thanks in advance for any specific information.


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    Quote Originally Posted by vanguard machine View Post
    I'm sure this has been discussed before and I missed it.. did a few searches but didn't find exactly what I was looking for. Are those liquidation type services a total rip off? i.e., is it better just to have some company come in and handle everything? I understand I would get less than if I sold everything individually but what's the standard here? The machines would be easy enough to get rid of but the thousands and thousands of pounds of tooling and consumables are more what I'm thinking about and I definitely don't want to do eBay or sell lots of em's and tooling as I'll be here for three years doing it.
    thanks in advance for any specific information.


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    What kind of product did you make? From what I have heard in New York, the auction company takes a decent percentage. I don't remember off the top of my head, but I do think it was more than 10%? What about selling the business as a whole? Not sure if there is any ambitious young people near you to take your mantle, but it is worth considering if you have a niche in the local industry or maybe find a larger company that would want to absorb your company.

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    You can sell a running business, with work for much more than just the machines.
    Existing jobs, enough to pay the rent. and a guy with a product to add.

    Nowadays an online auction can bring many more bidders...for just selling stuff.

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    I think that the online bidding helps the smaller auction a lot, as it's not big enough event to bother going to in person, but to monitor "from here" is very well worth it.

    As for finding a young guy, well that would be super, but I'd doubt that it would fetch much different than you would yield via the auction, but might be better for all involved.

    But - as for selling to other shops?
    I'm gunna say that this is NOT the year for that.
    And next year may not be either?
    When everyone is busy and can't git help, "more" just doesn't have much appeal right now.
    Just look at commercial property - it's been in the tank = no-one is expanding right now.


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    i've been pretty checked out for months now with family and personal stuff so there isn't a lot of work coming in. there in lies the rub.
    the machines and tooling are all in excellent shape and worth what they're worth. while i understand i'll probably take a hit i'm attempting to minimize it as much as possible.


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    I'll let you know at the months end how the auction process goes. Family business with my father passing away. Everyone else wanted to be done with it. Too much for me to handle alone. (I've done my time and then some)All equipment is paid for so no debts. Very sad to give up the legacy.

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    Quote Originally Posted by vanguard machine View Post
    i've been pretty checked out for months now with family and personal stuff so there isn't a lot of work coming in. there in lies the rub.
    the machines and tooling are all in excellent shape and worth what they're worth. while i understand i'll probably take a hit i'm attempting to minimize it as much as possible.


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    Why would I want your tooling?

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    Quote Originally Posted by camscan View Post
    Why would I want your tooling?
    oh right.. i forgot that tooling, like perishable fruit, goes bad after a few months of sitting idle in a climate controlled space best plan to sell off entire shop?
    just move along if you don't have anything actually helpful to include.


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    Quote Originally Posted by Ox View Post
    I think that the online bidding helps the smaller auction a lot, as it's not big enough event to bother going to in person, but to monitor "from here" is very well worth it.

    As for finding a young guy, well that would be super, but I'd doubt that it would fetch much different than you would yield via the auction, but might be better for all involved.

    But - as for selling to other shops?
    I'm gunna say that this is NOT the year for that.
    And next year may not be either?
    When everyone is busy and can't git help, "more" just doesn't have much appeal right now.
    Just look at commercial property - it's been in the tank = no-one is expanding right now.


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    Ox
    yeah and in the off chance that i even did.. which in my experience here would be like winning the lottery.. i'd still have to have some involvement and tbo i just want out


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    I thought that you were a younger guy that was just getting going?


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    Quote Originally Posted by vanguard machine View Post
    yeah and in the off chance that i even did.. which in my experience here would be like winning the lottery.. i'd still have to have some involvement and tbo i just want out
    That speaks to some real difficulties. It won't help much, but as one small shop owner to another you have my best wishes for a smooth winding down and a better road ahead...

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    Quote Originally Posted by Ox View Post
    I thought that you were a younger guy that was just getting going?


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    young is relative. i'm in my 40's now and the past decade has been nothing but tragedy and loss and setback after setback. it's time for that figurative hot dog stand.. or at least a very long break to reassess my life


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    I've sold some stuff by auction with reputable auctioneers.

    There are a ton of fees you don't know about.

    You take half of the hammer price.

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    Quote Originally Posted by vanguard machine View Post
    young is relative. i'm in my 40's now and the past decade has been nothing but tragedy and loss and setback after setback. it's time for that figurative hot dog stand.. or at least a very long break to reassess my life


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    I am sorry things have not gone well for you. I have often remarked how lucky I have been, and people will say 'oh you work hard, you made good decisions'
    well, yeah, and I was lucky too

    Tooling: used tooling is a bit of a pig in a poke, is it worn out, is it what other people need etc. Ever been to an auction? that stuff can go for pennies on the dollar. Maybe Kurt vises because garage guys.

    Selling machines. It is like selling cars, a good ad with good pictures and information adds value to the machine. A popular machine with tooling might fetch a decent dollar about now when supplies are tight.

    Focus on the few highest dollar machines and try to get those moved and just dump the rest.

    Like selling a car, you bought it, used it, now it is a 10 year old car worth what 10 year old cars are.

    Hope you get into something better.

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    Quote Originally Posted by vanguard machine View Post
    oh right.. i forgot that tooling, like perishable fruit, goes bad after a few months of sitting idle in a climate controlled space best plan to sell off entire shop?
    just move along if you don't have anything actually helpful to include.


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    So all the high speed tools that have been sitting around the shop for the last 30 years haven't expired? Oh my!

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    Quote Originally Posted by chuckg7442 View Post
    So all the high speed tools that have been sitting around the shop for the last 30 years haven't expired? Oh my!
    So the dooosh forum is located here:
    OT:- 68,195,851 UK Covid-19 Survivors

    Please follow the guidelines.

    Thanks

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    Quote Originally Posted by chuckg7442 View Post
    So all the high speed tools that have been sitting around the shop for the last 30 years haven't expired? Oh my!
    oh please... I clearly stated that I'm in my 40s so unless I started buying fucking tooling at 10 years old it's not '30 year old hss tooling' Besides the fact 90% of my shit is new in the tubes that they came in, from the suppliers. (not import)The rest of it is shit like boring bars, metrology, indicators etc. etc. not "high speed tooling that's been sitting around for 30 years "
    As I said to another douche in this thread earlier… If you have nothing to contribute please keep your fucking comments to yourself


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    The unpleasant truth is, you can do it fast for a "lot less than its worth" or you can do it slow with a bunch of effort and get what you think the value is.

    I have never heard of an option for fast at full value.

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    Quote Originally Posted by EmanuelGoldstein View Post
    The unpleasant truth is, you can do it fast for a "lot less than its worth" or you can do it slow with a bunch of effort and get what you think the value is.

    I have never heard of an option for fast at full value.
    I'm not really in a major rush… I would like to be out in the next three months or so. My hard target is before it starts warming up here again so basically like a May-ish.
    I have some property I can leverage in the meantime to hold off the wolves


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    Quote Originally Posted by vanguard machine View Post
    oh please... I clearly stated that I'm in my 40s so unless I started buying fucking tooling at 10 years old it's not '30 year old hss tooling' Besides the fact 90% of my shit is new in the tubes that they came in, from the suppliers. (not import)The rest of it is shit like boring bars, metrology, indicators etc. etc. not "high speed tooling that's been sitting around for 30 years "
    As I said to another douche in this thread earlier… If you have nothing to contribute please keep your fucking comments to yourself


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    I was joking about my shop. I have no idea what tools you have. But I see dozens of HHS endmills all over my shop.


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