Pidcocks stock auction.
- Thread starter team duvet
- Start date
The tyre machines and bike service lifts would be nice, if only I had the floor space in my garage.
How sad.
A lifetimes work laid out for others to pick over
A lifetime of business for the Pidcocks now gone just like that, pretty sad end and not an end anyone would want for their business. Several of us used to do the Euro trips, had some great times over the years and one of the reasons I bought bmw and Ducati because they were local for servicing.
I assume there will be further tranches of items, there is very little advertised in this particular auction
Only bought one bike from them in 1999 - their ex demo R1100RT and from Phil
Found them a good dealer, but preferred Rainbow at Sheffield (then Rotherham)
most of the bikes in stock would not be owned by the business. They would be on the dealer stock plan and owned by the finance company, manufacturer or importer. These would be repossessed and sold by the owner or put back into the manufacturer's supply chain.
Same with any office or workshop equipment on finance or leased from the manufacturer. Repossessed.
Then the liquidator might have sold some stuff through other methods such as trade journals.
This would be what is left once other avenues have been explored.
There's a nice R1250RS in there. Complete with luggage and only 1600 miles. It would be interesting to know the history of that bike as it must be owned outright by the business, not on finance. A demo bike would be on the stock plan from BMW. Why has it not been sold in the trade as it should get a premium price? Something must be stopping it getting an Approved Used warranty. Anyone bidding needs to check the history carefully to ensure it is not an insurance write off kept in the business as a perk for the senior management.
pretty standard
Going rate is 15-25% on BP
Vat @ 20% is non negotiable
Bikes will already have had vat paid so legally can’t have it added again unless purchased and then sold through a vat registered company.
the 25% is a commission invoiced by the auctioneer so subject to VAT
It caught my eye also Wessie, and I was thinking along very similar lines about why it was there rather than already being resold elsewhere at top dollar ?
just noticed it has a mirror broken off - there is some history for any bidder to check out for sure
Auctioneers will be Vat registered
Vat is paid on the buyers premium (at 25% on the hammer price of bike), not the bikes auction sale price
Your statement is wrong
Don’t you know how auctions work ?
What does “buyers premium” mean JB, excuse my ignorance?
Can you explain further please.
Is that a fixed fee, a percentage of the final price, or something else ??
Can you explain further please.
Is that a fixed fee, a percentage of the final price, or something else ??
It’s the premium added by the auctioneers, to the final sale price of item (bike in this case) you have purchased
In this case it’s 25%, so if the hammer price is £1000 - you pay £250 + 20% Vat £50 on top
So you pay £1300 for the item
Seller gets £1000 less his sellers commission and any vat applicable
Nice little earner
However in this case the seller is the receiver, and they are trying to recover as much to settle the outstanding debts
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