Peavey to auction off $12 million worth of parts and returns
Auction includes old stock, returns and raw materials
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Imagine you’re running a company. Your warehouse is full, and you’ve got product taking up expensive storage space. You can either destroy the stuff, like Gibson did with the ill-fated Firebird X. Or you can put it up for auction. This is what happened at Peavey, which is now knocking out equipment worth $12 million online!
Plant Closure
According to COO Courtland Gray, the auction has nothing to do with financial hardship. Two factories were shut down in Mississippi in 2015 and the raw materials just take up a lot of space in the warehouse. Then there are the return shipments, which have since lost value through unique use and cannot be sold profitably in the trade.
Amongst the horde you will see amps like the ValveKing, 6505+ and Vypyr Pro-100, among many others.
Peavey Auction
Auction
The auction is being conducted by CA Global Partners (USA)m and is slated for Wednesday, 7 August. Included are raw materials (mahogany, ash, maple) and parts worth $10 million and around $2 million in old amps, which will all go under the hammer. Cases, mixers, PA boxes and accessories are also amongst items listed. Fancy a bargain on some Peavey gear? This auction might appeal to you!
You can find the entire interview with Peavey’s COO here .
More Information
- Peavey Auction: Peavey/industrialbid
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