Closing my little job shop after 40 years of operation. My dad passed away a few years ago and I've been trying to operate the business from my full time job. It's just time to close out. My question is: Having only manual machines, where is the best place to try to sell for the most reasonable return? Never had any need for an auction house, but do they tend to sell well? Just trying to liquidate as soon as feasible while retaining SOME value of my machines.
Thanks
There are many factors to determine the price of the machines, the main one being buyers market. For instance, I bought a vertical mill and a lathe, both manual, about 7 years ago through an online auction, was able to view the machines before bidding, and at that time, apparently not many were looking for those machines, in this area anyway, so I was able to get them cheap, with the auction service having a low starting bid. At that time, in this area, the fees were not high, but that has changed now.
At that same auction, someone purchased a 400 ton straight side press, with the stock uncoiler (if that is the correct name), the stock straightener, feeder and all the other things that go with it, for $500, which was one heck of a steal. The starting bid was very low, as it was a plant closing of a working business.
This particular auction was the same story as in the movie 'Pretty Woman'....a big corp buys out a company, and sells off the pieces.
You could check with an auction service and ask their fees, and go from there.