Peavey Auctions Off Last Shreds of Integrity

Discussion in 'Bad Dog Cafe' started by JayFreddy, Aug 1, 2019.

Thread Status:
Not open for further replies.
  1. JayFreddy

    JayFreddy Poster Extraordinaire

    Age:
    54
    Posts:
    8,699
    Joined:
    Nov 6, 2006
    Location:
    Dallas TX USA
  2. schmee

    schmee Poster Extraordinaire Silver Supporter

    Posts:
    8,459
    Joined:
    Jun 2, 2003
    Location:
    northwest
    Tons of stuff. Not sure the logistics of the companies that can ship it to you. You could get ripped by that. Hard to say. It's just bad inventory, accumulated over the years they need to get rid of. Returns, repairs, outdated etc. Bidding by the pallet. There's one pallet with at least 5 Classic 30's on it. If you are in Missouri might be great as you can pick it up. No on site bidding.
     
  3. Marc Morfei

    Marc Morfei Tele-Afflicted

    Age:
    54
    Posts:
    1,320
    Joined:
    Feb 6, 2018
    Location:
    Philadelphia, PA
    Perfect! I’ve been looking for 40 Blue Marvel speakers. ;)
     
  4. JayFreddy

    JayFreddy Poster Extraordinaire

    Age:
    54
    Posts:
    8,699
    Joined:
    Nov 6, 2006
    Location:
    Dallas TX USA
    Mississippi, not Missouri.

    Northern Mississippi.
     
    Straydogger and TheGoodTexan like this.
  5. schmee

    schmee Poster Extraordinaire Silver Supporter

    Posts:
    8,459
    Joined:
    Jun 2, 2003
    Location:
    northwest
    YEPPERS! My bad.
     
  6. Chunkocaster

    Chunkocaster Poster Extraordinaire

    Posts:
    8,909
    Joined:
    Aug 10, 2018
    Location:
    In space with Ziggy
    12 million dollars worth.:eek:

    That's a lot of bandits, Vypyr's etc.
     
    GoldieLocks and JayFreddy like this.
  7. jimdgreat1

    jimdgreat1 TDPRI Member

    Age:
    54
    Posts:
    35
    Joined:
    Apr 7, 2019
    Location:
    Wichita Kansas
    Would imagine we will be seeing some vintage peavey parts hitting ebay.
     
  8. 985plowboy

    985plowboy Friend of Leo's

    Posts:
    2,238
    Joined:
    Feb 5, 2012
    Location:
    South Louisiana
    Well, Hartley tried.

    I still own an old Peavey PA I bought mid-'90's just cause it won't die.
    Like buying one of those African Grey Parrots.
    Dang thing might out live you.
     
  9. JMac52

    JMac52 Tele-Meister

    Age:
    59
    Posts:
    137
    Joined:
    Apr 26, 2018
    Location:
    Mesa, AZ
    I don’t get the title of this thread. A business loses its integrity by selling of its excess inventory and material to generate cash and gain efficiencies?
     
  10. jackinjax

    jackinjax Friend of Leo's

    Posts:
    2,955
    Joined:
    Sep 11, 2016
    Location:
    Jacksonville
    In the old days there were "accidental" fires and the resulting insurance claim would cover the loss. At least they didn't go there.
     
  11. Octorfunk

    Octorfunk Tele-Meister

    Posts:
    415
    Joined:
    Jan 20, 2014
    Location:
    Midwest
  12. PlainAllman

    PlainAllman Tele-Holic

    Age:
    44
    Posts:
    775
    Joined:
    Feb 12, 2019
    Location:
    Van Zandt Co, Texas
    Yeah doesn’t really make sense. I guess maybe they should give it all to charity.
     
  13. L.A. Mike

    L.A. Mike Tele-Afflicted

    Posts:
    1,205
    Joined:
    Mar 1, 2014
    Location:
    somewhere over a rainbow (Ex-L.A. resident)
    Did you read the article?
    What should Peavey do with it, throw it away? Give it to TDPRI or The Gear Page members?
    It's well know they moved their manufacturing operations to Asia. They need to clean out a warehouse to either rent it or sell it.
    Oh, and congratulations for dragging Gibson into this thread. Bash 2 manufacturers with one thread. How efficient.

    Here, I'll make it easy for you to understand what is going on:

    This isn’t the first time Peavey has auctioned off its equipment and materials. Back in 2015, the company sold off a range of speaker and amplifier manufacturing equipment following the closure two of its Mississippi factories, after it moved production overseas due to “changes in the marketplace”.

    Guitar.com reached out to Peavey, and COO Courtland Gray explained that the closure of those facilities is in part responsible for this sale.


    “As we closed or consolidated a number of manufacturing locations, the excess items all ended up in our 300,000 sq ft warehouse facility,” Gray tells us. “We found the entire facility filled with baskets and pallets of parts no longer used, wood from old guitar manufacturing, necks and bodies that never made it into a completed guitars, and overly accommodated returns from dealers that got forgotten or were left untouched by our repair team.

    “Short of another decade of trying to sell it bit by bit, we decided it easiest and most expeditious to have a professional auction company market and sell it. While the return won’t be what any of us want and far less than the fully reserved book value, it will enable us to rent out some or sell all of this facility.”
     
  14. Wally

    Wally Telefied Ad Free Member

    Posts:
    33,938
    Joined:
    Mar 17, 2003
    Location:
    Lubbock, TX
    I will give them a quarter of a penny on the dollar...if they will deliver. Errr...... Nope...just got the calculator out. That would be $30k. Okay, I will give them 0.00025 centson the dollar...delivered. Yeah, $3K sounds like I couldn’t get hurt there, and sorting through the pile should gI’ve me something to do for the next five years!!!!
    Like ‘me or not, Hartley gave it a run and provided some dependable noise makers at lower price for a few decades. I have never met a Peavey guitar that could not be set up to make music, and I never played one that I wanted. Amps??? They don’t make me smile.
     
    JayFreddy likes this.
  15. studio1087

    studio1087 Telefied Silver Supporter

    Posts:
    24,084
    Joined:
    May 10, 2003
    Location:
    Near Milwaukee
    I wonder what their gross sales were last year.

    Manta and Hoover’s put them at $165,000,000.

    $12,000,000 is about 7% of their annual gross.

    7% seems pretty high but it’s an accumulated pile of junk. They didn’t create it all in one year.
     
    imwjl and JayFreddy like this.
  16. supersoldier71

    supersoldier71 Tele-Holic

    Age:
    48
    Posts:
    870
    Joined:
    Nov 22, 2009
    Location:
    Fayetteville, NC
    Peavey managed to make it work for several decades, lost the bubble and the market jumped out from under them.

    It happens.

    I like Peavey amps. I prefer my C50 to a bunch of other stuff that people told me I should like more. It’s almost 30 years old and I’ve had it almost a decade now.

    The Undercover Boss episode didn’t do anyone at Peavey any favors, but I tend to chalk that one up to wishful thinking.

    Sucks to be in a poor town in a poor state is the moral of the story.


    Sent from my iPhone using Tapatalk
     
  17. Preacher

    Preacher Friend of Leo's

    Posts:
    3,395
    Joined:
    Apr 17, 2007
    Location:
    Big D
    I bet those guesses were estimates and no where near where they will actually end up.

    I am guessing pennies on the dollar for those pieces. However if you are close and want to get a deal it might be worth it. Some of the machinery will go for little to nothing and for an amateur guitar builder those might be great pieces to have.
     
    Wally and JayFreddy like this.
  18. getbent

    getbent Telefied Silver Supporter

    Posts:
    37,572
    Joined:
    Mar 2, 2006
    Location:
    San Benito County, California
    maybe mike wolfe and frank fritz can work up a packaged deal.

    End of an era for sure... there are a BUNCH of us who used those PA's for years... I remember toward the end of the 70's when country bar bands all got great deals on peavey amps and guitars and I felt weird for sticking with my tele.... I had a cousin in Alabama who was a fierce peavey guy (more of a Bowie type rock band, I could never quite figure it all out with him... every opinion he had was the staunchest opinion and he was RIGHT... anyway, he passed 5 years ago or so.. complications from having lift truck land on him--> self inflicted while showing off... he was kind of okay for a few years after... but, he still died from it.

    Anyway, I guess if you own a packard car or a packard bell pc... it is like owning a peavey... they had a time and a place... and it is now not there anymore.
     
    JayFreddy and Lost_N_Austin like this.
  19. Mike SS

    Mike SS Poster Extraordinaire Silver Supporter

    Age:
    64
    Posts:
    8,632
    Joined:
    Aug 9, 2012
    Location:
    Nebraska
    I see tomorrows GuitarFetish.com clearance inventory!
     
    Doctorx33, Nickfl, bgmacaw and 4 others like this.
  20. Chiogtr4x

    Chiogtr4x Poster Extraordinaire

    Posts:
    5,576
    Joined:
    Mar 29, 2007
    Location:
    Manassas Park, VA
    At least they are not running over their stuff with a bulldozer
     
    jrblue, Tone Eee, scelestus and 8 others like this.
IMPORTANT: Treat everyone here with respect, no matter how difficult!
No sex, drug, political, religion or hate discussion permitted here.


Thread Status:
Not open for further replies.
  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.