Art Brown Bankruptcy Auction

[lightless]

I walked by Art Brown's today and saw a "BANKRUPTCY SALE" sign today through the gate, and a URL underneath to a place called maltzauctions.

 

Sure enough, they're having an on-site bankruptcy auction on Tuesday, September 24th, starting at 11:00 AM, where they'll be selling everything from ink to the store displays, which answers the question of where the inventory was going to go, and why there wasn't a clearance sale during their last days.

 

The link to the listing, appropriately titled "CONTENTS OF HIGH END PEN SHOP": http://www.maltzauctions.com/auction_detail.php?id=211752

 

They've a photo gallery of 45 pictures of pretty much everything that was in the store.

Edited September 9, 2013 by lightless

[Oranges and Apples]

Do you know the price range of the items they are selling?

[mbankirer]

Do you know the price range of the items they are selling?

It is an auction! Prices will depend on how many people (or dealers?) who know what they're doing, are there to bid! A good auctioneer, who probably earns a percentage will work the crowd!

 

I wonder if they will sell 'lots' or get down to individual pens, paper, inks?

[lalindsay225]

How sad it should have come to this. Another great pen store goes the way of the dodo.

[lightless]

It is an auction! Prices will depend on how many people (or dealers?) who know what they're doing, are there to bid! A good auctioneer, who probably earns a percentage will work the crowd!

 

I wonder if they will sell 'lots' or get down to individual pens, paper, inks?

Yeah, I was wondering the same thing. I was thinking they might sell in lots for the less expensive items, and sell the higher-end items individually. I can't imagine that they'd go to the hammer for a $2 Rhodia notepad, though bidding in increments of cents would be pretty comical.

How sad it should have come to this. Another great pen store goes the way of the dodo.

Yeah.

[Guy007]

The concern would be that they are also selling the pens 'as seen' i.e. not finding the boxes and paperwork to go with the pen.

 

I would hope they would start that process, but that would be a long job in itself.

 

If only I was in NY...

 

Sad situation though, I'm sure people as stated would have liked to gone into the shop if they did a sale prior to this situation.

[dragondazd]

I would expect that when they do the inspection, the inspector will point out that you can't get any money on the box without the pen so might as well put them back together.

[Elizabeth in NJ]

 

Sad situation though, I'm sure people as stated would have liked to gone into the shop if they did a sale prior to this situation.

 

The bankruptcy court might have stipulated the method of inventory liquidation. I certainly would have liked to have seen a sale, though!

 

I'm glad the question of what they're going to do with the stock has been answered. I also wonder if the way that it will be done will be suitable for individual consumers to participate or if it will really only be suitable for other dealers. Because it would really be interesting to attend.

[dragondazd]

how many dealers can show up for that to be worthwhile?

[WirsPlm]

Live only! Shoot, I'd have bought some things if it was online.

[penrivers]

I remember the bankruptcy sale of Brandeis book store in Monterrey México and mostly because I lost the oportunity to get

a luxury edition of the bilingual Spanish-English edition of the complete Works of William Shakespeare. So if you are in New york

dont lose this oportunity and visit Art Brown because if not ten years from now you will be still regreting it. Greetings from México.

[inkstainedruth]

I've been to auctions for restaurant equipment. A lot of times there are dealers, but sometimes things go pretty cheaply (good for the buyers, not so good for the creditors). My husband once picked up nine bakery speed-racks for less money than it cost to pay for lunch for a friend with a pickup truck to help him bring the stuff home. New ones cost a couple hundred bucks apiece, and Steve paid $5 US plus $1 buyer's premium. Total. For *all* of them (not $5 per). But that was also towards the end of the auction where a lot of the big dealers had gotten what they wanted and had gone home.

I can't imagine that they would be selling pens and cases of ink individually, though -- it would almost have to be lots. It would take hours, maybe days, otherwise. I wonder how the auctioneers will figure out what the pens *should* maybe go for, and start the bidding off accordingly.

There's a part of me that would like to be in New York for this, on the off chance of picking up a bargain. But there's another part of me that would probably find it too painful to be at the auction, since I had had such a lovely experience there last Christmas.

Ruth Morrisson aka inkstainedruth

Ruth Morrisson aka inkstainedruth

[dragondazd]

Well it's in New York, I would expect a lot of high-rolling competition.

[Oranges and Apples]

It is an auction! Prices will depend on how many people (or dealers?) who know what they're doing, are there to bid! A good auctioneer, who probably earns a percentage will work the crowd!

 

I wonder if they will sell 'lots' or get down to individual pens, paper, inks?

 

That's what I meant. Actually, I meant what are the price ranges expected to be.

[fourseamer]

Live only! Shoot, I'd have bought some things if it was online.

 

+1 I'd have probably gone nuts during a sale, but a live auction precludes my participation. Good luck to all who can attend.

[kestrel]

The auctioneer web page says they are also auctioning off the Art Brown "customer list." I wonder if that means it is time to update my spam filters.

[Filipson]

By chance, I walked into Art Brown the day before they closed their doors. The guy behind the counter was visibly emotional. He said they already gave the list of goods to the bankruptcy trustee, and couldn't sell anything until the auction. I think auctions must be pretty strictly regulated to avoid shenanigans.

[Filipson]

The auctioneer web page says they are also auctioning off the Art Brown "customer list." I wonder if that means it is time to update my spam filters.

 

I'm guessing this might be the single most valuable item in the store.

[Guy007]

The auctioneer web page says they are also auctioning off the Art Brown "customer list." I wonder if that means it is time to update my spam filters.

 

I would say this would be against privacy laws as this was given to Art Brown for their use. Any lawyers here ?

[pencils+pens]

 

I would say this would be against privacy laws as this was given to Art Brown for their use. Any lawyers here ?

 

And they are using it to pay off their debts.

 

Arthur Brown & Bro., Inc.

Court New York Eastern Bankruptcy Court Case number 8:13-bk-74115 Assets $100,001 to $500,000 Liabilities $1,000,001 to $10 million Judge Alan S Trust Chapter 7 Filed Aug 6, 2013 Type voluntary Updated Aug 7, 2013