Peavey to auction off $12 million worth of unsold guitars, amps and raw materials
Peavey Electronics is auctioning off a large stock of guitars, amps, pro-audio equipment, components, tools and wood that the company claims it no longer needs for its ongoing operations.
The auction – which includes new and customer-returned products that Peavey estimates is worth over $2 million, and $10 million worth of parts inventory – will take place on 7 August 2019 through the website of asset and capital recovery specialists, CA Global Partners.
While a full catalogue for the auction has yet to be published, the photos accompanying the initial listing show off a huge amount of new or near-new products from Peavey and its various sub-brands – including Valve-King and Vypyr amps, guitar cases, several of the company’s AT-200 self-tuning guitars, and even Budda amps.
In addition to the finished products, the auction also features a large amount of stock related to the making of guitars and amps – saws, drill presses, shapers, sanders, stitchers, presses and components – plus a “large amount” of wood, including maple, mahogany, ash and walnut.
This isn’t the first time Peavey has auctioned off its equipment and materials – back in 2015, the company sold off a range of speaker and amplifier manufacturing equipment following the closure two of its Mississippi factories, after it moved production overseas due to, “changes in the marketplace”.
Peavey still produces guitars and amps in the USA – including the HP2 range of electric guitars, as well as Budda amps – and there’s currently no indication that this auction of material and equipment will have any impact on its USA manufacturing operations.
Guitar.com has reached out to Peavey Electronics for comment.
Check out the auction listing at CA Global Partners here.
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Source: www.guitar-bass.net
