| Author | Message | ||
     Hughlysses |
Well, an hour an 22 minutes after the auction of IP and tooling was set to begin, the live auction feed says: "The live auction will begin soon. Continue bidding in the catalog until the live auction begins." Maybe there are some back room negotiations going on? (Message edited by Hughlysses on June 08, 2017) | ||
| Greg_e |
Maybe they don't have their $#!+ together? | ||
| Hughlysses |
Looks like the auction for the IP and tooling won't begin until the auction for the rest of the stuff is completed. I guess that makes sense because there are line items in suction #2 that include all items in auction #1. To win those combined items you have to bid 10% more than the combined total bid for all the sub-items. They've still got 3 or 4 pages of stuff to go through. The question is WTF did they schedule the 2nd auction 2 hours after the first if they knew they had so much crap to auction? (Message edited by Hughlysses on June 08, 2017) | ||
| Hughlysses |
Well, the auction of IP and tooling has still not started, so I'm guessing they postponed it until tomorrow. Either that, or a mystery buyer is negotiating a deal behind the scenes! Hope springs eternal... | ||
| Figorvonbuellingham |
I hope someone buys it so I don't have to go get the stuff I won. One lot I president on and won was grossly misrepresented by LAP. I can't dispute it because they immediately billed my credit card right after I called and complained. (Message edited by figorvonbuellingham on June 08, 2017) | ||
| Hughlysses |
Still no update on the second part of the auction at LAP's website that was originally scheduled for 2 PM CDT yesterday. It still says "The live auction will begin soon. Continue bidding in the catalog until the live auction begins." Starting bid is $500k, but no one has bid yet. I suppose it's possible nobody coughed up the $100k deposit necessary to be allowed to bid. It'll be interesting to see what happens then. | ||
| Hybridmomentspass |
"I hope someone buys it so I don't have to go get the stuff I won. One lot I president on and won was grossly misrepresented by LAP. I can't dispute it because they immediately billed my credit card right after I called and complained. " Can you elaborate on this please? | ||
| Figorvonbuellingham |
I prebid on a lathe lot 15 and the two chucks for it lot 16. The description clearly states the chucks are for the lathe in lot 15. The picture for lot 16 shows just one chuck and two adapter plate so the 2nd chuck is the one that is on the lathe lot 15. Well I didn't win the lathe but did win the chucks. I called to make sure they take the 2nd chuck off the lathe before it got picked up and they told me I only get what is in the picture which is not 2 chucks. There is only one chuck in the pic and the description clearly states two chucks and I won the lot two times the money so I was billed twice but am only getting one chuck. I told them I shouldn't have been charged twice the money since I am only getting one chuck and got no where. Shortly after the call my credit card was quickly charged the full amount so I now have no leverage. I have left messages for Marissa but she hasn't called back. I'm sure this is a case of them not knowing what chucks actually are and someone is going to need to show them what I am talking about. They need to get a machinist to point this out to them. They obviously aren't taking my word for it. The only way I'm not going to get screwed out of my money is if someone buys the IP and tooling. Then I will get reimbursed. (Message edited by figorvonbuellingham on June 09, 2017) | ||
| Hughlysses |
Man, that sucks. I guess you can dispute the charge through the credit card company if all else fails. Meanwhile, the auction for the IP and tooling has STILL not started. Just running late? No interested bidders? Working a deal out behind the scenes? | ||
| Figorvonbuellingham |
I just received a call from William and he says their are actually two chucks not counting the one one the lathe. I asked him to take a picture of it and send to me. I want to be sure they aren't thinking those back plates are chucks. Hopefully there is another chuck. I can't believe the guy who bought the lathe didn't want the chucks for it. | ||
| Hughlysses |
I sent a message to LAP via Facebook and asked what was going on with the IP/tooling auction. They responded:
Interesting... | ||
| Buelliedan |
did they really expect anybody to cough up 100K to start the bidding? Pretty optimistic IMO. | ||
| Hughlysses |
Reserve for the IP and tooling is $500k too. | ||
| Figorvonbuellingham |
Hmm so are they going to let people pick stuff up? Their website says pickup starts Monday which is when I was going. Seems like it's all hinged on this IP business. Odd way to run an auction. Still hope it sells. Don't really need chucks with no lathe....lol. | ||
| Court |
Has that auction started yet? | ||
| Hughlysses |
^ Apparently not: https://www.proxibid.com/aspr/Liquid-Asset-Partner s/4305/AuctionsByCompany.asp?ahid=4305 | ||
| Court |
Maybe today | ||
| Oddball |
They have quite the card game set up. Use the little guys as a group to leverage the big money people. Forcing them to overpay for stuff they don't want and sucking any money left out of the less desirable bits. They're almost guaranteed a loss on all that stuff because the little buyers already offered what they'd pay. So no easy flip to those people. I would imagine the real money may just sit back and let LAP rotate on their own spit a while. Let them deal with clearing the chaff. | ||
| Court |
You're talking about a sum of money that's far less than the annual salary of a top Harley-Davidson executive. If someone can't . . . . after several years of trying . . .scramble together the pittance to buy the pieces . . . that the odds of gathering the funds necessary to do anything, other than what LAP is doing with it, are fairly remote. But . . . I could be wrong. I'll just sit here waiting for the auction to begin. | ||
| Stevel |
Court, You're not wrong. | ||
| Oddball |
I didn't say that bigger players couldn't afford it. Big being relative of course. Someone who can slap down 100K to bid and 500K or more to buy is big compared to my poor ass. Your scale of big is much greater obviously. Perhaps there are no big players. I get who you may be referring too and would have to agree that the result could end up that way. If he's the only player this whole exercise is even more pointless. | ||
| Court |
I'm not referring to anyONE or any organization. I'm just simply saying that anyone or organization that may have been interested would likely, given the relatively small cost have jumped in long ago when the market was better and the price was lower. Think about what you are trying to sell. Who . . if you were the one knocking on doors to find investors . . would you be calling on? Why? What would you be selling them? | ||
| Oddball |
No argument with you. Things have gone bad with each turn. The market footing weakening all the way. Currently 20 dealers? as opposed to like 80 when things started. So no, unless there are diamonds in the IP, no one is going to cough up substantial money. I do hope an enthusiast could get the name/parts business and basically be a speed shop and parts supply for Buell/EBR owners in the years/decades to come. Eventually HD will stop all parts support for the XB's and without continuing support the 1190 owners could be in a worse spot much quicker. Someone like Dean Adams would be ideal to run it. The Dean Adams EBR Speed Shop! or East Troy Speed Shop! or EBR - Everything Buell Related | ||
| Oddball |
https://www.youtube.com/watch?v=kCAyN1e6EVM A view of the happenings for the rest of us posted on youtube by Night Rider. | ||
| D_adams |
I've been playing the lottery but I don't have my hopes up any more. It's getting a bit late in the game now and I certainly don't have the funds to start and run a speed shop like what everyone would want. The scale of business compared to what I do is astronomically different. Pennies compared to millions. | ||
| Court |
Be mindful . . . as folks continue to discuss EBR as if it were the good old days . . . that EVERYTHING . . . from the (if there actually are any) AX plans to the pop up tent and the cooler under it . . . belong to Bill Melvin and LAP. I am unconvinced he has the long term interests of Buell or EBR riders high on his list of priorities. | ||
| D_adams |
I am FIRMLY convinced he does not. Money, the bottom line. That "5 year plan" was in my opinion, nothing but smoke and mirrors for the trustee at the bankruptcy proceedings. | ||
| Hughlysses |
This whole deal with the auction for the IP and tooling is a little goofy. The only reason to have an "auction" is if you expect there to be multiple parties interested in bidding. Since NOBODY bid, either (a) nobody with money is interested or (b) the people with money that ARE interested think the reserve ($500k) is set too high. You would think LAP would have known that before they even called an auction. It would be very interesting to know how LAP has faired on their original investment. They paid $2.2M for EBR in 2016. They had an auction of excess stuff then and made some money. They've built and sold some bikes and sold parts over the last ~1.25 years. OTOH they've had to pay salaries, rent, etc. to keep EBR in operation. Do you think they've even broken even at this point? | ||
| Gregoxb |
Let's lighten this up a bit: | ||
| Court |
No regrets Coyote . . . . I got on a Buell last night, as the sun was setting, and took off to explore the full moon. I got home at 3am . . . . once again fully charged and aware that for nearly 30 years . . . nothing leaves me breathless like quality time on a Buell.       |
