Who is handling the general surplus now that GL is out?

[LanceRobson]

If you noticed, the first ammo cans sold on Iron Planet last week went so high it makes me wonder whether they used shill bidders to set a high bar on prices. M2 "50 Cal" cans went for just shy of $10 each (216 cans/$2025) before buyer's premium and tax and some M548 cans (the BIG 25mm 100 round linked cannon ammo cans) went for over $30 each.


Lance

 

[Camel Driver]

I was watching some auctions in PA. All the start prices were way too high. Most of them ended up as "Failed auctions". At that rate GP will run out of storage space real soon.

 

[simp5782]

We were bidding on those five 5 tons, 2 deuces, and 3 cucv's over on the NC beaches for parts but we cut off at 7 due to the unknowns. Went for a little bit more. We are sure we know who got them. See how they get 10 trucks moved that don't run. Waiting for that call that they defaulted and ask if we want em.

 

[MWMULES]

Pricing seems to be a problem also, yesterday I saw a lot of ten things. to me they were worth about $150-$200 max. Their opening bid was 1.5K, needless to say it got no bids but did come back
up with and opening bid of $1.1K and you guessed it "Auction Unsuccessful"! Well today after checking I see there are 3 more lots in the future and opening bid is $300, 1K and $1.5K I guess they

are basing cost on the military purchase price. But what do I know they still got $610 for a single M59 field range, that last summer were selling for $2960!

http://www.govplanet.com/for-sale/Tools-M59-Portable-Stainless-Steel-Field-Kitchen-Stove-Unused-Georgia/919574?h=5000%2Csm%7C1%2Ck%7CM59+Portable+Stainless+Steel+Field+Kitchen%2Cmf%7C1&rr=0.25&hitprm=&pnLink=yes

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Well the "things" I have been watching came up again at $1.5K no joy, then were relisted later in the day at $1.2K..... outcome was NOT SOLD NOT SOLD ! And are ready for next week


at just 1K.Gee I wonder why?
Another Field range went for $590, I wish whoever was buying them would come by and get some from me!
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[Gunnermac]

When I found out that Ritchie Brothers had control of GP, I stopped even looking at the site. If you thought GL and GP were bad then, hang around its going to get better. Yea right.

 

[rickf]

Isn't Richie Bros. one of the key players in Iron Planet?

 

[porkysplace]

Isn't Richie Bros. one of the key players in Iron Planet?

Richie Bros. bought out Iron Planet / GovPlanet.

 

[rickf]

Sooooooooo, Basically we are screwed?

 

[DeadParrot]

Depends. IP/GP probably had the big iron construction & farm stuff figured out. They knew about what it was going to sell for before they agreed to list it. And they could always tell a prospective seller that they didn't want that particular item.

I doubt their govt. surplus contract allows much right of refusal. So regardless of if this month's batch sells, they have to accept next month's. If it is priced too high and folks don't buy, eventually they will have to lower the start price to move stuff out or lease more storage space. Unsold inventory is money tied up.

When I discovered GL, most of the OKC lots had a minimum bid of $150. That got lowered to $25 after a while.

 

[rickf]

True, But Gov-Planet has been selling trucks for a couple years now on the govt. side so they know the game. They have been on the heavy equipment business for a long time. It is this new outfit that bought them out that I am worried about. The government will eventually say the **** with it and scrap everything.

 

[rickf]

I noticed that ALL auctions are now listed as Iron Planet and not Gov-Planet. I sent off an e-mail to them to ask if the new outragously high minimum bid prices and individual item lots are going to be the norm from now on. I am curious to see if I even get a reply.

 

[rickf]

Here is the e-mail I sent.

Hello Adam, My name is Richard xxxxxx . I am e-mailing you because you are in my local area but this question pertains to all areas of the government sales. What is the story with the outrageously high opening bid prices all of a sudden and the individual items instead of large lots on government surplus? This is surplus after all. No guarantee and unknown condition. I personally am not going to bid on anything with these kind of opening bids and small lots/ individual items. Example are the individual top bows for Hummers! Come on now?! Do you really think someone is going to drive a hundred miles or more for one bow? Is this the new permanent policy? If so I am going to get out of the surplus business, just not worth it for me. It would be nice to know now though so I can cancel out my vendor spots for the rest of the year.





Well, I got a reply but since I sent the question to a local rep I guess he does not want to step on toes so he deferred. Here is his reply.

I am sorry to hear you have been experiencing some issues with purchasing and pricing at GovPlanet.

I have no insight into this matter as this is another division completely. I have forwarded your info to the appropriate group and have asked that they address your concerns so that you can make adjustments to your business, if necessary.

Thank you,

 

[robertsears1]

I had been with Govliquidation since 2002 and DRMO (the good old days) before that. This new animal, Go-Dove, is not making much sense to me at this point. I guess it’s good that I have almost everything thing I need/want and nowhere to put it since it looks like my buying days have come to an end. I can’t seem to find anything near NC or VA on a military facility for sale. Someone mentioned upthread that Ritchie Brothers had their hand in it now. I thought they had gone out of business since I know of two of their auction locations that are closed—the one in NC between Durham and Henderson along I-85 had only been open for a few years. I am almost positive that the location south of Orlando is also closed as I drove by it in January this year.

Robert Sears

 

[rickf]

Go-Dove is what took the place of gov liquidation but they do NOT have the government contract, Iron planet has the entire contract now. And Richie Bros. has apparently bought out Iron Planet so I guess they were in pretty good shape. They won't be if they keep this crap up though.

 

[drivebymashing]

I noticed the humvee top bow too. I think it was like 5 dollars only 400 miles away from house... Crazy to me too.. Humvee prices have gone crazy high for my area (within 400 miles) Who is buying these things? 30 + grand...

 

[Retiredwarhorses]

I check the auctions daily....over 30yrs in the surplus Hobby/business, I’m totally perplexed at the opening bids for most items, maybe GP is scrapping everything that ain’t worth but scrap value, I don’t see anything the likes of what GL had for sale in the quantities GL had listed.
I for one will stay away till they come to there senses...the bids should open a 25-50.00 and let the market dictate the price.

 

[Suprman]

They are trying to drive up prices in the name of profit. It works on the trucks and gens that stuff is in demand. This wont work for the parts no one needs them until some gov contractor decided they need a few. GL tried to maximize profit. But you cant just keep holding onto the stuff week after week running it at these crazy prices. High gov cost does not always equate to high secondary value. GP has to pay one tenth of one percent of what the gov paid for the item, up front, when they take possession of the item. And then a percentage after the sale. Dosnt sound like alot up front but old odd parts cost can add up fast.

 

[rickf]

Here is the e-mail I sent.

Hello Adam, My name is Richard xxxxxx . I am e-mailing you because you are in my local area but this question pertains to all areas of the government sales. What is the story with the outrageously high opening bid prices all of a sudden and the individual items instead of large lots on government surplus? This is surplus after all. No guarantee and unknown condition. I personally am not going to bid on anything with these kind of opening bids and small lots/ individual items. Example are the individual top bows for Hummers! Come on now?! Do you really think someone is going to drive a hundred miles or more for one bow? Is this the new permanent policy? If so I am going to get out of the surplus business, just not worth it for me. It would be nice to know now though so I can cancel out my vendor spots for the rest of the year.





Well, I got a reply but since I sent the question to a local rep I guess he does not want to step on toes so he deferred. Here is his reply.

I am sorry to hear you have been experiencing some issues with purchasing and pricing at GovPlanet.

I have no insight into this matter as this is another division completely. I have forwarded your info to the appropriate group and have asked that they address your concerns so that you can make adjustments to your business, if necessary.

Thank you,

Just as a follow up on this, I never got any kind of reply from the "appropriate group". Not that I really expected to.

 

[DeadParrot]

The odd thing about the high starting bid prices is according to the wiki entry for Ritchie Bros. Auctioneers, they are really big into no reserve auctions.
https://en.wikipedia.org/wiki/Ritchie_Bros._Auctioneers

Wonder if they spent too much buying Iron Planet and are trying to recover the costs? Still think they can't sit on the stuff too long or the piles will exceed storage area.

 

[rickf]

Only time will tell. The younger generation is paying monster prices for the trucks that is for sure.