Peavey Auctions Off Last Shreds of Integrity

[JayFreddy]

https://guitar.com/news/peavey-to-a...rth-of-unsold-guitars-amps-and-raw-materials/

It's almost as if Gibson had said, "Watch us destroy our brand... "

Then Peavey said, "Hold my beer."

To see actual auction items, follow the link at the end of the article.

 

[schmee]

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 Returns, repairs, outdated etc.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.

 

[Marc Morfei]

Perfect! I’ve been looking for 40 Blue Marvel speakers.

 

[JayFreddy]

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 Returns, repairs, outdated etc.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.

Mississippi, not Missouri.

Northern Mississippi.

 

[schmee]

Mississippi, not Missouri.

Northern Mississippi.

YEPPERS! My bad.

 

[Chunkocaster]

12 million dollars worth.

That's a lot of bandits, Vypyr's etc.

 

[jimdgreat1]

Would imagine we will be seeing some vintage peavey parts hitting ebay.

 

[985plowboy]

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.

 

[JMac52]

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?

 

[jackinjax]

In the old days there were "accidental" fires and the resulting insurance claim would cover the loss. At least they didn't go there.

 

[Octorfunk]

https://guitar.com/news/peavey-to-a...rth-of-unsold-guitars-amps-and-raw-materials/

It's almost as if Gibson had said, "Watch us destroy our brand... "

Then Peavey said, "Hold my beer."

To see actual auction items, follow the link at the end of the article.

Auctioning off excess inventory = destroying integrity?

 

[PlainAllman]

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?

Yeah doesn’t really make sense. I guess maybe they should give it all to charity.

 

[L.A. Mike]

https://guitar.com/news/peavey-to-a...rth-of-unsold-guitars-amps-and-raw-materials/

It's almost as if Gibson had said, "Watch us destroy our brand... "
Then Peavey said, "Hold my beer."
To see actual auction items, follow the link at the end of the article.

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.”

 

[Wally]

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.

 

[studio1087]

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.

 

[supersoldier71]

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

 

[Preacher]

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.

 

[getbent]

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.

 

[Mike SS]

I see tomorrows GuitarFetish.com clearance inventory!

 

[Chiogtr4x]

At least they are not running over their stuff with a bulldozer