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Thread: Guru tools auctionned feb 9th

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    Default Guru tools auctionned feb 9th

    I guess some people here might be interrested in buying some tools from Guru cycles in Montreal

    Guru Cycles Inc. - Mon site Web

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    Default Re: Guru tools auctionned feb 9th

    I'll be bidding online and trying my luck for the alignment table or one of the jigs.

    If I win anything I'll drive up from Hamilton for pick up.
    Ross Shepherd

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    Default Re: Guru tools auctionned feb 9th

    Good luck for the bids. It seems to have a couple of nice things there.

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    Default Re: Guru tools auctionned feb 9th

    A whopping $92K in total for the almost $800k in debt.
    The paint booth was about $200k brand new and sold for a pitiful $2k!!!
    Sadly, I will be out of the $20 grand that Ted owes me.
    Freakin scumbag! He knew back in October what was happening.
     

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    Default Re: Guru tools auctionned feb 9th

    actually the bulk bid won at $185k Canadian because the sum total didn't beat it. I assume that was the $92k? Word on the street is Ted won that bulk bid.

    Quote Originally Posted by teebmoots View Post
    A whopping $92K in total for the almost $800k in debt.
    The paint booth was about $200k brand new and sold for a pitiful $2k!!!
    Sadly, I will be out of the $20 grand that Ted owes me.
    Freakin scumbag! He knew back in October what was happening.
    Nick Crumpton
    crumptoncycles.com
    Instagram
    "Tradition is a guide, not a jailer" —Justin Robinson

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    Default Re: Guru tools auctionned feb 9th

    Nick,

    I went on the site and added everything up. A bit under $92k listed for everything. The Anvil Jigs went for 1 to 3k each for the four they had.
    i had some inside people up there and they told me a bunch of stuff was sold to someone in the US and that Robert wanted stuff to start his new bike company but got shut out.

    In the end it's disappointing cause Ted knew what was going on. He put the lease of the new place in His name, not Guru's. So he is owed money for that. It's another way of making sure he gets money back. I am owed from 20k and will never see it. Which is BS. Cause if ted actually took the machinery, that sucks and someone else is gonna get screwed.
     

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    Default Re: Guru tools auctionned feb 9th

    It's not the first time they do this. They know how to make money of a bankrupt with no regards to others.

    I heard horor stories straight from Marinoni's mouth.

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    Default Re: Guru tools auctionned feb 9th

    Am i understanding this correctly? I watched some of the auction... Lot number 1 was a bulk bid for purchase of every other lot in the auction. And since the sum total of the other lots individually was less than the bulk bid placed in lot 1, the bulk bid took the whole kit and kaboodle?

    If that's the case, then how could a bunch of stuff get sold to somebody in the US? Wouldn't it have to be everything or nothing based on the bulk bid?

    At any rate, it was an weird auction. I also thought it was interesting that all of the molds were listed in a lot up until the day prior to the auction, and then magically all the molds were no longer included in the auction catalog at the start time.
    dan polito

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    Default Re: Guru tools auctionned feb 9th

    1. the bulk bid won. they got everything. i was a bidder and won on a few items and have received 2 confirmation emails from the auctioneer that the bulk bid won all.

    2. Ted did NOT win the bulk bid. i should have not said he did without confirmation. it was a US buyer that won and i think i have figured out who but that's just gonna have to some out in due time.
    Nick Crumpton
    crumptoncycles.com
    Instagram
    "Tradition is a guide, not a jailer" —Justin Robinson

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    Default Re: Guru tools auctionned feb 9th

    I bid on some items with a friend and we managed to get in touch with the winner in order to find out if they were reselling anything. I didn't speak with them but I was told they were from Arkansas and were setting up a new business.

    So it looks like I'll be designing my own tooling... fun!
    Ross Shepherd

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    Default Re: Guru tools auctionned feb 9th

    Quote Originally Posted by rauce View Post
    they were from Arkansas and were setting up a new business.
    yup...
    Nick Crumpton
    crumptoncycles.com
    Instagram
    "Tradition is a guide, not a jailer" —Justin Robinson

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    Default Re: Guru tools auctionned feb 9th

    unless you are an established brand with the work lined up it, seems scary to me to invest that kind of money expecting returns to match that figure. but than again, i might not dream big enough !(-:
    Thank, mick van aar

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    Default Re: Guru tools auctionned feb 9th

    Everyone has a dream.
    Bill Fernance
    Bicycle Shop Owner
    Part Time Framebuilder
    Bicycle Tragic

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    Default Re: Guru tools auctionned feb 9th

    Buyer confirmed

    Good news, buyer intends to setup a production carbon company building frames in America. He's obviously got a good track record in the industry so I imagine he's got a decent shot at making it work.

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    Default Re: Guru tools auctionned feb 9th

    Yeah Jason. I heard about it from some people in the know and kind of nudged BRAIN towards the story. I didn't want to just come out and ask Tony about it. I pointed them towards the bankruptcy story also.

    Jason, I wasn't able to make it to NAHBS, can I still get one of the carbon/ti hammers? If not, no worries. Hopefully in the future.

    Thanks.
     

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    Default Re: Guru tools auctionned feb 9th

    It was a bit of a funny auction as these things go. There were none of the usual machinery buyers there bidding for the lathes and mills and there wasn't anybody there who wanted to have to haul away the CNC center or the paint room. Also no scrappers. Just mostly bike folks like us slobbering on the anvil jigs. So yeah not surprising that everyuthing was so undervalued.
     

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