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Buying inventory questions
Posted by: Greg M. Ray (---.hsd1.tx.comcast.net)
Date: January 10, 2019 10:08AM

I am going out today and looking at purchasing inventory from a reputable rod builder, who is selling out due to health issues. He has not been building rods since 14. How do I go about offering a fair price ? I can post detailed inventory here once I look at all of it, however I have seen some pictures of Calstar, Fugi, Gudebrod, Aftco and Winthrop tips, etc. I am not a novice nor an expert I have focused my builds for me personally and all offshore using same. What do I do to help myself make a good decision any advice is helpful. Eng game is to possibly sell rods in retirement, however won't have to for income necessarily.

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Re: Buying inventory questions
Posted by: Tom Kirkman (Moderator)
Date: January 10, 2019 10:25AM

It might take some time but you could always carry a supplier's catalog with you and roughly note current prices. Of course, many builders acquire parts and pieces over the years that may have become somewhat antiquated for today's use. For that reason, these type "estate" sales or liquidations don't usually bring anywhere near the original purchase price. Don't over pay - my guess is that you'll never find a use for about half what you purchase.

In the meantime, please don't post the inventory here on the forum.

...........

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Re: Buying inventory questions
Posted by: Greg M. Ray (---.hsd1.tx.comcast.net)
Date: January 10, 2019 10:37AM

Thanks Tom...he said he had 11-12k of inventory wants 4k to sell out with rapper, 4 rod dryer...figured if I can build 10- $400.00 rods I'll get my money back will see...do you know if Blackfin sword blanks carry some value? I see Blackfin Rods is it the same?

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Re: Buying inventory questions
Posted by: roger wilson (---.hsd1.mn.comcast.net)
Date: January 10, 2019 10:43AM

Greg,
It is a simple transaction.
Ask the seller his asking price. If you agree, pay the price. If not, offer a different price. If you come to an agreement complete the deal. If not, walk away.

It makes little difference on what the person paid for the inventory. It is simply what the person is asking for the inventory.

Also, you need to take into account how your feel about the transaction and the person in question. Particularly when a person is in a distressed situation, it is often in the interest of your own well being to offer something considerably more than the real value of the items.

Just go over and have a chat with the person and see if you can come to a reasonable understanding. All that you have to do is to bring along a catalog from one or more of the sellers of the items to spot check current prices if you have questions.

But, be careful on buying items that you will never use or you will never use because they go out of favor with the users of the items that you might want to build.

That is why operating enterprises are very very very careful about inventory control and not buying too many of a given item that has no forecast for being consumed in a reasonable time frame.

I personally try not to be a pack rat. So, periodically, I will go through items, including inventory of building items and try to take the hard line of pitching items that either won't sell or won't be used by myself in the next year or so.

In past years, I have pitched out rod guides and other building materials simply because they have become obsolete. So, if you buy, buy carefully and if you want to do a complete buy out, consider the very real possibility that 2/3rds o f what you buy might never ever get used. Times change. Interests and demands change. So, what you buy to day may very well be 100% unwanted in 10 years. Approach this entire situation with caution and a clear head.

Be safe and have a very happy new year and many many more years after.

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Re: Buying inventory questions
Posted by: Greg M. Ray (---.hsd1.tx.comcast.net)
Date: January 10, 2019 10:56AM

Thanks Roger very well written, you basically answered all my questions...my rod building friend was not able to make it today hence my post...I'll be careful, not in that big of hurry...on another note, since his credibility was really high while he was in business, wouldn't it help my effort if he agreed to endorse me for lack of a better term?

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Re: Buying inventory questions
Posted by: Bill Marchisella (---.hsd1.fl.comcast.net)
Date: January 10, 2019 05:14PM

Greg
Many years ago, there was a advertisement in a fishing magazine and it said that the owner of a bait shop had passed away and the son was selling the inventory. Well I went to this sale and went into a buying frenzy;.I bought stuff I could use and stuff I couldn't use because the price was too good to pass by. I bought 40 4oz spools of Holland thread and 40 plus rods, and other things I won't mention that I will never use. I am not saying this a bad deal but maybe you can buy just what you need. Plus 4k can buy a lot of new stuff. You can start your own collection. When my wife asks me why I have all that useless stuff, I say that the rod builder with the most stuff when they pass away wins!

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Re: Buying inventory questions
Posted by: roger wilson (---.hsd1.mn.comcast.net)
Date: January 10, 2019 08:05PM

Greg,
By the day, I pick one day a year to go through stuff. If I have something that I haven't used for a couple of years and can not forecast a use for the stuff in the next couple of years, the stuff finds the bottom of the trash can.

I almost never regret pitching the stuff.

Be safe

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Re: Buying inventory questions
Posted by: Norman Miller (---.lightspeed.jcsnms.sbcglobal.net)
Date: January 10, 2019 08:35PM

What's one man's junk is another man's treasure. I don't know how many times I have given away my old stuff to people here on rod board looking for what I have because they can't find it anywhere. Would rather give it away than throw it away.
Norm

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Re: Buying inventory questions
Posted by: Lynn Behler (---.97.252.156.res-cmts.leh.ptd.net)
Date: January 10, 2019 09:16PM

Take a page from the American Pickers book. Sounds like Roger's seen it!

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Re: Buying inventory questions
Posted by: Dennis Danku (---.dyn.optonline.net)
Date: January 10, 2019 09:53PM

I too try to help those in need of what I don't use. All they pay are shipping charges and most always send more.

Dennis J. Danku
(Sayreville,NJ)

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Re: Buying inventory questions
Posted by: Greg M. Ray (---.hsd1.tx.comcast.net)
Date: January 11, 2019 08:31AM

Enjoyed reading these stories, took pages from some of your remarks...and to Lynn's comment it was similar of a scene from pickers show. I just removed my emotions on the way out and when i got there, well? I couldn't believe the dining room alone had some 60 blanks and 40 finished rods on 10 aluminum racks. I remained calm, haha but it wasn't easy. I knew everyone he new and so on, my guess was he saw my passion. So basically he said: "I could have all of it ,he's moving to Mexico and can't take it". However, I didn't see where 4k was going to be profitable, so I offered 3k he accepted. My guess is 80% of the components I'll use and if I don't I can sell or give it away as mentioned. In my case it was more like one mans treasure ended up being mine, all of his stuff was so organized and clean. The Winthrop guides and tops alone I had never seen...Happy New Year to yall !

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Re: Buying inventory questions
Posted by: herb canter (77.111.246.---)
Date: January 11, 2019 12:26PM

Bill Marchisella Wrote:
-------------------------------------------------------


" When my wife asks me why I have all that useless stuff, I say that the rod builder with the most stuff when they pass away wins "



I'm sure that worked out well huh Bill lol. You know the saying " My biggest fear is that when i'm gone my wife will sell all my gear for what i told her i paid for it "

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Re: Buying inventory questions
Posted by: Lynn Behler (---.97.252.156.res-cmts.leh.ptd.net)
Date: January 11, 2019 06:47PM

Shoulda said 2k!! Sounds like it worked out fine, good to hear.

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Re: Buying inventory questions
Posted by: Bill Sidney (---.gci.net)
Date: January 11, 2019 08:53PM

it is a good sale if the seller is happy , with the buyer also happy, even if the buyer never use's half of the stuff , as I see it

William Sidney
AK



Edited 1 time(s). Last edit at 01/13/2019 06:57PM by Bill Sidney.

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Re: Buying inventory questions
Posted by: Jake Skulich (---.lightspeed.bcvloh.sbcglobal.net)
Date: January 13, 2019 09:21AM

My wife gets on me about never throwing anything away fishing related also. I never complain about her shoes, clothes, or purses but I always have too much fishing stuff.

I just got into rod build so I don't have that much stuff yet, but I have been making my own lures for years, mainly jigs, bucktails, and soft plastics. I don't sell them because I don't want to jump through the hoops with the government. So when I acquire too much stuff I usually donate it or give it away. I am a teacher so if I have some students who like to fish, I will bring them in a box of stuff. I have also donated to the local volunteer fire department for some of their sportsmans raffles. I would much rather someone else get some use out of it, than just trash it. Plus if you donate it, you can claim a tax write off if you like.

Jake

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Re: Buying inventory questions
Posted by: Lynn Behler (---.97.252.156.res-cmts.leh.ptd.net)
Date: January 15, 2019 05:28PM

Jake, where's your fashion sense? I wouldn't be caught dead with a white rod after Labor Day! You reap untold rewards by giving stuff to young anglers and they don't forget it.

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