Closing Saddle Shop

[PcCowboy]

I have retired and closed my shop (Lewis Saddle Shop) I need some advice on the best way to sell everything. Should I sell the shop as a package or piece it out? And how do I figure out what everything is worth?

Thank you for any thoughts on the matter.

Dallas Tieking (Owner) Lewis Saddle Shop Hereford Tx

[Studio-N]

It is probably easiest if you can sell it as a package. Piecing it out brings in more money but it is a lot of work and it takes a lot of time.

You will things that go quick and you will have those pieces that will linger forever. Your best bet is to create some inventory sheets and put a

realistic figure next to it and total it up (but allow for some discounting since no one wants to pay full retail).

You can lump somethings together probably (loose hardware for instance). And remember there is always the estate sale or auction route to consider.

Best of luck and enjoy your retirement.

[bruce johnson]

Dallas,

There are a few considerations and a lot of it comes down to how much you have, how much you want to put into selling, and how long you have to sell it. There are a few people around who would buy a whole shop no matter the size - tools, machinery, hardware, the whole deal for one money.

The other option is to sell machinery by the piece, tools by groups, and hardware by groups. Somebody might want a heavy stitcher but doesn't need a chap sewing machine, next guy wants a splitter and skiver but has a stitcher and machine. These are likely the bigger priced items and less of them so selling them separately isn't a huge hassle, especially if somebody can pick them up. Grouping tools like strap end punches together, hammers, stamps, pliers, etc by type will shorten up that group up some. If you have a bunch of stamps from different makers, sorting them by maker will bring more. Hardware by groups. Most all this could be shipped without a problem. That will likely bring a little more money without a ton of work on your part.

Final option is piecing out the machinery and tools by the piece and hardware by size and type. Lot more work and time involved, and the returns may or may not be much better than grouping them.

Figuring out what it is all worth is the big thing. You no doubt know from experience in the business that some machines and tools are more desirable than others depending on maker. Then factor in condition. Finally there is the demand.

- Bruce