Art Brown Bankruptcy Auction

[jdivitto]

 

Best case, the insider loans are paid last or not paid at all. Then everyone gets around 25% of their money. If the insider loan is paid on equal footing with the other non-priority claims and gets a percentage of the auction proceedings based on amount owed, then everyone gets 5% of what they are owed (so essentially nothing).

 

Doesn't a significant amount go to the court, attorney fees, auction house, anybody else that can squeeze into the proces, ... ?

[jjlax10]

Two pages written about the auction and no-one ended up going?!? Oh well, maybe it was raining?

 

A lot of NYC pen folks did not want to be pigs feeding at the trough.

[inkstainedruth]

 

"A little darker" is a bit of an understatement.

Having tried both, I agree. Ellis Island (at least dip-tested) is almost black, and seemed really saturated. And that was the first blue-black (of many) that I tried at FPH last Christmas.

Manhattan Blue is more blue, with really nice shading. I'm so pleased that it will still be available, since it's probably my favorite blue/blue-black ink.

Looks as if I'm going to be making a little side trip the next time we go visit my sister-in-law... because back-up bottles are a good idea for harder to get inks....

Ruth Morrisson aka inkstainedruth

[Fleetlord]

Two pages written about the auction and no-one ended up going?!? Oh well, maybe it was raining?

 

I agree, it doesn't look like anyone here went anywhere near the auction...

 

That being said, Art Brown is closed, never coming back, the inventory is auctioned off and that's that...

 

Probably should shut this thread down...kinda pointless to discuss an auction that nobody had any experience to share....and all the bankruptcy talk is too gossipy for my tastes..

 

Start a thread about the inks if need be, but this seems to have run it's course, no?

Edited October 3, 2013 by Fleetlord

[OleOle]

Agreed.

 

There was no doubt a macabre fascination with the closing of the pen shop, like the disappearance of book shops, it underscores the changing of the times in a rather firm and uncompromising manner. Like people rubber-necking at a vehicle accident, sometimes people are not sure why they're looking, they're saddened to see what has happened and hope that everyone involved will be alright.

 

I suppose my personal interest in this thread was to see what would rise from the ashes, to see the spirit of the pen shop somehow transformed, if only for the sake of continuity. Perhaps we were all looking to see if this forum, or rather the members of this forum, might take part in this transformation and the fact that no-one appeared to attend seemed to make the events even more final.

 

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*clicks 'unfollow topic' and wanders away*

[dragondazd]

I don't get it. I would expect more people showing up for auction = more competitive bids = better returns on liquidation = better outcome for owner, given that said owner lost a lot of personal money.

[jjlax10]

I don't get it. I would expect more people showing up for auction = more competitive bids = better returns on liquidation = better outcome for owner, given that said owner lost a lot of personal money.

 

They sold everything in bids. I heard last night Fountain Pen Hospital and a couple of other dealers took a lot of the stock.

[jd50ae]

What a shame.