[Closed] Planet-X at John Pye Auctions

That is a lot of stock they are dumping. Seems odd, odd indeed.

With all those and the Ebay golf shop, just how much "crap" do have to off load?

I guess this is the crap that isn't shifting, low return but fixed price for disposal and all gone?

Do you have to guess the sizes?

Please Note:
This is a Public Auction, not a consumer or retail sale – Lots include second-hand and used goods, sold as seen with no guarantees which is why Public Viewing is available (above) and recommended.

Bloody hell. Its the warranty returns.

Buying warranty returns from an auction , what could possibly go wrong ...

That is soooo much stuff!!

It's a fair amount but not exceptional, px will have a steady stream of stuff to dispose. You'd only do it this way though if i. You've written the stock off ii. You don't have time to deal with it iii. You don't want it coming back.

with 20%vat and 20% premium on the auction price too...

DrP

Do they send it or even box it?

It's collection only from Uttoxetor and don;t forget to add 44% to your winning bid.

+ 20% + 20% is +44%

I was going to comment on the price of the Pickenflick frame on there; at the moment it's £288 inc all the extras. I remember PX churning them out at ~£600 not long ago.

Obviously at the moment, they've got a 'sale' on, so they're back up a grand.

I was going to comment on the price of the Pickenflick frame on there; at the moment it's £288 inc all the extras. I remember PX churning them out at ~£600 not long ago.

And you've no idea whats wrong with the auction one unless you hold it your hands prior to the auction closing. It could have an ovalized headtube (no uncommon on PX 'seconds') or buggered BB threads or any number of faults.

with around half a dozen 'sale' events running currently and this i'd say that the writing is on the wall.....

mmmm, unless the receivers have been in, and winding it all up, and clearing stock.

Wouldn't surprise me is they are trying to hang on till after Xmas, milking what they can till new year

Sacking most of your work force and then dumping stock, doesn't paint a pretty picture of healthy company does it.

Looks like a load of crap so I'd go with clearing the decks/rationailising, saw the CT45's but looking at the freehubs they're all used so must be a batch issue with something £50 for a set of fulcrums might no be a bad shout for a set of winter wheels though - shame they're not disc.

Huge amount of those items aren't 'second-hand and used goods', so not sure why they're being listed. Lost of sealed boxes of goods, including tool kits, tyre leavers, lights & mudguards. I don't see why they'd want to shift any of this wholesale.

Huge amount of those items aren't 'second-hand and used goods', so not sure why they're being listed.

PX brand stuff is probably QC failures. Bad paint, faulty welds, minor damage (how many topics on here over the years of PX frames with damage to headtubes from poor packaging).

Lost of sealed boxes of goods, including tool kits, tyre leavers, lights & mudguards. I don't see why they'd want to shift any of this wholesale.

Buy huge amount at knock-down price, flog half 'cheap' and you've already made a profit over what you paid. Trying to clear the rest can take time and fills your warehouse with slow selling low profit items. Clear it all out for a double-knock-down price and you clear space and make a quick profit.

Some of it I'm sure is just overstocks and the like but a lot of it smells of warehouse scrapings, and this is a company that usually just sells their QC rejects so you'd have to be brave or insane to buy anything unseen.

For one of the frames I checked in the auction, once you add the fees and collect it, it works out more expensive than what I paid direct from PX and it arrived well packaged in a box with some* after sales support.

*Yes, I know about the horror stories but it was fine for me.

For one of the frames I checked in the auction, once you add the fees and collect it, it works out more expensive than what I paid direct from PX

I think a lot of people dont realise the additional fees, they probably think its just like ebay.

Looks like a load of crap so I'd go with [s]clearing the decks/rationalising,[/s] the contents of their warehouse

There we go, much more sense.

Can't see this being a huge success TBH.

Can I just say #brexshit before we get to page 2?

jeez, once past the first couple of pages there's a load of clothing, tyres, puncture repair kits, gloves, other brand wheelsets, etc. - can't all be warranty returns, smacks of a liquidation sale.

I was tempted by some stuff from their Fibonnacci sale, just supposing this was a 'last throw of the dice' would i be at risk of not getting my goods?

I was looking at the Titus FTM frame and bits as I have one and would give me some spares, but can't collect.

I'm just looking forward to SQ2322322323256 turning up and telling us this is normal, nothing to see here, all is fine. And most of all, DON'T PANIC.

😆

The VAT will only be on the buyers premium. So 20% of 20%.

Its not like they are known for logical business moves but this one does seem odd.

They used to be based in a warehouse outside Doncaster, I wonder if they kept it on after moving to Rotherham and this is just a clearout of what is there. Saves them putting it all in their system and trying to flog it off.

I'm just looking forward to SQ2322322323256 turning up and telling us this is normal, nothing to see here, all is fine. And most of all, DON'T PANIC.

We probably just don't understand how a modern, agile, lean 21st century retail business operates.

The VAT will only be on the buyers premium. So 20% of 20%

I don't think so, the example that they give is:

£100 bid + BP (£120) PLUS VAT on BP & Bid Total = £144 invoice

Some of the prices that people have paid are just plain daft, more than you can buy it from PX

They are selling off old tat to buy nice shiny Shimano groupsets to nail onto a reduced range of frames.

That's what I'd do anyway.

Have we had boss man from On-One/PX come on yet and suggest this is normal sales practice and that we should all welcome their new sales channel of high quality [s]tat[/s] cycling equipment?

We probably just don't understand how a modern, agile, lean 21st century retail business operates.

"Lean" as in no money and no stock?

PX brand stuff is probably QC failures. Bad paint, faulty welds, minor damage

No, that's what they sell direct to customers...

Well one thing is for sure, any business that ordered £100,000 of stock pre Brexit and is now getting it delivered is going to be paying a blood curdling amount more unless they hedged it.

I reckon we'll see quite a few of the shallower pocketed bike distributors go to the wall. I hope that's not the case here.

I checked it out last night when most of it still had 6 hours to go. Some of the amounts bid even then were daft. 🙄

Story on BikeBiz...

http://www.bikebiz.com/news/read/600-planet-x-items-sold-at-auction-earlier-today/020356

I bought two sets of carbon Knuckleball bars and an El Guapo Corto stem from their sale yesterday and it was all delivered today.

I wouldn't touch any of the frames or forks or own brand stuff inc jobsworth - QC concerns are well documented - but capmpag stuff, fulcrum wheels etc would have been worth a punt.
How long before a mountain of 'bargains' appears on eBay?
That looks like a lot of stock but without knowing their typical/average inventory it's hard to assess whether or not it represents a significant disposal.
Is there an underlying story?
If Dave Loughran stripped away all of the crap, stopped buying dead brands with warehouses full of old stock of variable quality, slimmed down the range of product offerings and got on top of the QC I think there would be a decent business there which could regain credibility but.....has that time now passed?

but.....has that time now passed?

5, 6 years ago maybe I'd say... Certainly I think the writing is firmly on the wall!

Just clearing out old stock, ex team stuff, returns etc, it is what it is. it's the cheapest way to shift dead stock, and that's the long and short of it.

There's a value to all this stuff and the best way to deal with it is to let the market decide.

No point having it sitting on the shelf when the cash it represents could be transformed into new shiny parts, new models and future offerings.

Yeah right sq.... 🙄

I worked in retail long enough to recognise a company falling off the cliff...

As soon as I saw this I knew there would be a 16" 29er parkwood with green graphics listed. Good chance that is the one I had returned due to a dodgy weld when building it up for a friend.

If only there was some way you could shift that stock ??

mmmmm

Like maybe a sale ?

you know, give it a snappy title like - The we can't be arsed / pre stocktaking / daves gone mad / End of the World / It'll be reet / Buy one get 6 free / got the receivers in / etc etc etc

Try it, if it doesn't work, do a new one every 2-3 days ?

I don't understand how selling all this stuff in an auction house gives you more chances to sell?
Very limited audience as you need to live close enough to collect.
What is the point?

They probably don't have the staff to deal with it all since they got rid of a load

I wonder what did the most damage? QC, customer service, falling out with Shimano, or paid postage under £50.

Having a shed load of tat probably.

If you want choice go anywhere else.

If you want something cheap go to PX.

newrobdob - Member
Yeah right sq....

I worked in retail long enough to recognise a company falling off the cliff...

The decent stuff isn't reduced much - it's just the odd bits left over, so I think it's probably just a good way of clearing dead stock and returns that you don't want comeback on.

BTW managed to spend a tenner while I was there. 🙂

PSA for singlespeeders and 1x types - the stainless steel chainrings are £8 now. I can recommend them, I've been trying to wear one out on my mud bike for 5 years... (So I bought another - should see me out)

What is the deal with that ebay golf shop? Always have loads of PX stuff on there, but its listed as a separate business of some kind.

I don't get all the hate on this particular auction. Sure, I've had my issues (and also great experiences) buying from PX/OO, and there may very well be underlying business issues with the company, but an auction like this really is a standard way to clear old stock. If I were management at PX I'd definitely would have looked at an auction to get rid of a lot of one-off items, especially given their website/ordering system/business model doesn't really lend itself to selling off a random mix of items.

especially given their website/ordering system/business model doesn't really lend itself to selling off a random mix of items.

Surely they are just selling off loads of damaged stock or warranty returns? Some businesses would just weigh them in..... but why not get a few quid for them on a no comeback basis? Personally I wouldn't touch one of these auctions myself without seeing the items I was bidding on to check for damage etc.

Also the old clothing must be worthless, probably costs more in staff time to pick pack and process orders than they will make.

Boxes and boxes of low value stuff they probably paid next to nothing for, why not shift it out (probably at some small profit) to make room for decent new product lines with better margin?

Most of this stuff would cost money to dispose of, so why not shift it if someone wants it?

This is not really helping with their "brand image" on STW, but I'm sure they thought about the impact of that - they aren't Specialized .....

If they are warranty returns by selling them at auction "sold as seen" they don't have to provide a warranty. So if a £500 RRP frame 😆 that has a dodgy weld is sold at auction for £200 they're quids in, as opposed to writing it of for £0.

TBH I'd expect them to have a warranty in place with their suppliers/manufacturers so if it was faulty they pass it back to the supplier/manufacturer. Maybe they can't be bothered.

PSA for singlespeeders and 1x types - the stainless steel chainrings are £8 now. I can recommend them, I've been trying to wear one out on my mud bike for 5 years... (So I bought another - should see me out)

Cool - I'll grab one of them for my new build 😀

Exactly what Jeffl said.

Plus this

"The Rotherham-based company employed 118 staff, and is run by founder Dave Loughran. Its last accounts show an annual turnover of £18.3 million, and profit of £109,689. In 2015 the company made a loss of £86,594 on a turnover of £20 million."

Something very wrong there.

Not sure I'd want a load of defective frames with my branding on kicking about, and possibly turning up on eBay or the classifieds with no warning of potential issues.

[quote=chakaping ]Not sure I'd want a load of defective frames with my branding on kicking about, and possibly turning up on eBay or the classifieds with no warning of potential issues.
+1

Some companies would have more pride.