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May buy a small machine shop

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  • May buy a small machine shop

    Friend took me to look at a small machine shop that owner died.they want to dispose of the contents .they had an auctioneer look and said they needed to get rid of a lot of the small stuff and then gave them a per man price for setup and auction day and 10% fee plus a 15% buyers fee.Executer figures he is not going to get anymore than just scraping it.may sell a few of the machines and then be done with it.
    This place has a lot of stuff.several drill presses,a couple Leblond lathes,an abene mill in vg shape,A bp clone in vg shape.and tons of smalls...tons.....

    I was thinking it would be a shame to see this stuff be scraped.My friend told me he figured that his friend didn't care who scraped it .Got me thinking what to do and if I buy stuff where do I draw the line.I don't need any of the machines but a huge stock rack full of stuff is on my want list as well as several large drills 1 1/4 up.maybe a large facing head and a 6 jaw buck chuck.maybe a couple hundred pounds of misl cutters.

    I don't have the time or space to sit on this stuff and sell it.I said something to my son about listing it on eBay and he said as long as it didn't put him in a higher sellers class which is 50 lots a month..there would be waaaayyy more than that and he will be going back to collage in a couple months also.any suggestions ? TIA
    Last edited by j king; 06-22-2014, 10:14 PM.

  • #2
    Round up a couple like minded friends and split it up.
    Buy a pole barn and fill it up.

    A couple Leblonds and nice mills for scrap price. Wow! I'd find a way.


    • #3
      The kicker would be how long you have to get the stuff out.

      My first thought was they need to talk to another auctioneer for a 2nd option. Whats the general location of the shop?
      Central Ohio, USA


      • #4
        I agree with Mike! That auctioneer is lazy and doesn't know anything about machinist tools. Find a different one!

        I might buy it myself! Where is it located?--Mikem.


        • #5
          Box lots of small don't have much value, especially after Auctioneer day labor is instructed to dump the contents of a drawer into a cardboard box with a lot#. Would you bid on a bunch of reamers (or end mills, taps, etc.), obviously used (not in original tubes), that had been dumped UN-ceremoniously into a box? Guaranteed that the cutting edges are nicked or otherwise dulled. The potential money is in the machinery, but only if current enough to be bought, cleaned up and re-sold by a dealer.


          • #6
            Opportunity only knocks once. All the logistical issues (storage space, ebay listings, etc) can be overcome. Either go for it 100 percent or wake away.

            Appearance is Everything...


            • #7
              Based on recent experience with selling on CL I would no longer consider buying for resale and keeping the good stuff.

              People seem to be making purchase judgments based on new cost of third world junk. Such as: "why buy your used, quality American item when I can buy a brand new one for less?" More and more, buyers are thinking like many here, a pos from China all bright and shiny is better than a cosmetically damaged item of superior quality and usability.

              And, don't immediately discount an auctioneer who gives a low ball estimate of value. The auctioneers to beware of are the ones who give the high estimates of net returns from the auction.


              • #8
                Anytime you can buy at or near scrap price for usable tooling & equipment, BUY IT ALL! Set up your shop, sell to friends, don't use craigslist for smalls,use e-bay. YOU CAN'T LOSE anything but time & fuel if you scrap it all. If you choose not to buy it & it s close to me please PM me & a finders fee will be sent!


                • #9
                  +1 for what Flylo said--------
                  I cut it off twice and it's still too short!


                  • #10
                    Originally posted by flylo View Post
                    Anytime you can buy at or near scrap price for usable tooling & equipment, BUY IT ALL!
                    Heed the man, and good luck!

                    I like to watch TubalCain, Tom Lipton, Adam Booth, John Mills, the two Keiths and others on YouTube when I have time. One of the things that strikes me is how they often find useful and interesting used machine tools and tooling second-hand, at flea-markets and car-boot sales. Unfortunately, there is a dearth of anything like that on offer where I am (business liquidation auctions are about the closest alternative, but often way overpriced for my budget), but I wish there were...

                    I'm sure if you were to purchase the shop as a job-lot, you could drop any or all of the regular YT guys a line with a link to your "inventory" and a polite request to propagate the link, and you would immediately access hundreds, if not thousands, of potentially interested customers. The people who watch machining videos are probably also interested in buying machines and tooling... so use the internet multiplier effect.
                    Last edited by Euph0ny; 06-23-2014, 12:38 PM.


                    • #11
                      It really helps to put your location in your account info. Some places used stuff sells really
                      well, not so much in others.

                      Mike A
                      John Titor, when are you.


                      • #12
                        I am interested in participating if your vaguely close...

                        Will send a PM..


                        • #13
                          Originally posted by Gary Paine View Post
                          Round up a couple like minded friends(or fellows from HSM!)and split it up.


                          • #14
                            The feeding frenzy has begun!
                            Kansas City area


                            • #15
                              It doesnt sound like the auctioneer has a clue to me. I attend dozens of auctions every year, am close friends with several auctioneers, and SWMBO works for one, and Ive never heard of nor can I think of a reason an auctioneer would want you to sell anything before auction day. Ive actually seen the opposite several times, if somebody thinks they might want to keep XYZ the auctioneer suggests they wait til auction day to remove it, hoping to get the person tempted to sell by interested customers and high prices paid for other items. Also, Ive never heard of an auctioneer's commission based upon setup or the amount of help necessary, usually its a flat percentage + taxes/premiums/etc. JME, but auctioneers usually suffer from a lack of available help, not a negotiable excess, and the help's pay is pretty much a joke compared to the rest of the auction's cost.

                              To be realistic however, your description doesnt really give us a good description of the value. A Leblond flat belt lathe is worth exactly scrap - transport cost. A modern Leblond is worth significantly more. Similarly but more importantly, tons of smalls doesnt tell us much. Small tooling will be where the auctioneer will make the bulk of his money, small junk and stock cutoffs might be only worth scrap. Unless the shop is ridiculously cluttered or the crowd huge, a good auctioneer will do a shop sale on-site with very little handling of the contents which is fairly easy for them.
                              "I am, and ever will be, a white-socks, pocket-protector, nerdy engineer -- born under the second law of thermodynamics, steeped in the steam tables, in love with free-body diagrams, transformed by Laplace, and propelled by compressible flow."