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Exit Strategy, Retired Gunsmith disposing of shop contents.
Northwind61
Member Posts: 3 ✭
I am at a cross roads and am open to ideas from those with some experience. To be more specific I have just recently closed my gunsmithing business that I started in 1983, so as you can guess I have accumulated a vast assortment of tools and tooling. My thinking thus far has me wanting to sell everything to one buyer who plans to continue on where I left off. However finding Mr. Right might not be an option due to the financial outlay required. Also the equipment, parts, tooling and machinery are in Canada so the logistics of a major road trip come into play as well. Feed back welcome.
Comments
I have no experience in that area but want to say welcome to the forum.
Perhaps an auction well advertised would sell everything in short order. most auctions charge 20% and do all the work. finding Mr. Right is tough in todays market, unless you were willing to finance the sale.
...Sold off my Co. equipment years ago when I retired...I "grouped" it into similar, small groups and sold it that way...worked out well, the prices were not too bad, and nobody wanted to pay my price for "all" of it...in the end I got a tad more than I was asking for all of it originally...
If you do start selling things....the main thing you need to avoid is letting people pick over your items and walk away with the cherry items and leave you with piles of trinkets that will take years to deal with. Everyone agrees all of the things have value, so make the people buying what they want take some of the other items in the deal.....let them deal with selling the things they don't want.
outstanding advice Locust Fork. thats why auctions put things in lots, some valuable stuff and several items not so valuable, winner take all.
Where is Canada? (fingers crossed it's in Windsor)
What type of gunsmith are/were you? What's the procedure to be a GS in Canada? License, insurance, etc. Did/do you have a brick and mortar business?
Some good advice guys, thank you. The business is located in Alberta, across the border from Montana, USA. As much as I would like to see it go all together at one time the suggestion to arrange it into smaller parcels might be the way to go. For example stock duplicator, stock blanks and patterns. Deep hole drill and rifleing machine with assorted tooling. Parts. Lathes. Milling machines etc.
put it all up in an auction for a buy it now price
you will have millions of lookers and never know ?
I want to congratulate you for being a forum newbie and coming in with a great gun related question which generated a good discussion. It's a rare thing you've done. :)
And fiery auto crashes
Some will die in hot pursuit
While sifting through my ashes
Some will fall in love with life
And drink it from a fountain
That is pouring like an avalanche
Coming down the mountain
Ok some have mentioned the auction route. Would this site be a wise choice and if so what category should I list it in. Or is there a better venue to reach out to potential buyers.
Advertise in major gun magazines, take pics and run with it. Small stuff could sell on here. Or get an auctioneer to sell the items for you. Auctions don't mean sell for whatever it brings.. tell the auctioneer there are min. bids accepted on the machinery.
How about contacting the major gunsmithing schools such as Trinidad State College? Surely guys graduating will be looking for equipment.