It’s always a sad day when a manufacturer goes out of business. Maybe the owners didn’t handle things right, or maybe their widgets just didn’t measure up against the competition’s. But either way, it means some folks who made their living with their hands are out looking for a job. The really sad part: We get a couple of emails a week from auction houses looking to unload tools and equipment from failed businesses.
That said, though, we see some interesting deals from time to time. Today I came across one that includes a large horizontal band saw, a “nice selection of woodworking equipment,” a 16′ tandem-axle aluminum car hauler, and even a couple of vehicles. This particular auction is internet-bid only and includes some ugliness, like a 10% “buyer’s fee” and some interesting payment terms.
I’ve also seen a number of readers mention auction finds in comments. So do you buy from auctions? If so, what’s your experience like? Any advice to others who see auctions from time to time and might like to jump in?
(Thanks, RichardBH, for the great CC-licensed photo.)