acquired at auction today a complete Hoffman lineboring setup
everything was crated and all i could identify was a small hydraulic power unit , bid based on that
got near 50000 for 1900 , dam now I got go in the portable lineboring business
might try to sell it to the boss, we do a fair amount of it at work , but jeez this stuff is the bees knees compared to what we are using
dam dam, called the manufacturer to find out about some accessories they make for this boring rig, and surprise surprise , they were never paid for it at all , as this was not a bankruptcy auction , they still have quite an ownership issue with it, guess the lawyers get involved now ,
they did offer to refund my money for a repo fee , if I box it for return transit
good news is the boss likes it and may try to work out a purchase ,
buyer beware , dammit
I don't know how much money we're talking here, but if it's substantial I wouldn't give up without paying for some legal advice. You took a risk by bidding on the item in good faith, it seems to me you're entitled to a gain commensurate with that risk. How far do you suppose you'd get if you discovered you'd purchased an empty box and tried to bring it back to the auctioneer the day after the auction?
Ned Simmons
I am only out about 2200 with the buyers premium and all , and Hoffman agreed to reimburse me if I can crate it up for return shipment, not too bad of a deal
but I think my boss is going to try to buy the set-up outright for a reduced price,
really is a nice set up , makes York and climax look like toys
So, next time, don't gloat before you cross the moat ;^)
Don't forget to charge them labor and materials.
Koz
williamhenry wrote:
its still mine till its settled , isn't possession still 9/10s
or did they change that while I wasn't paying attention?
of course they could try and make your life hell for "trafficing in stolen goods". Not that you did but they probably have lawyers on retainer just to ruin your day.
I guess it depends on their contract with the customer. Ours says we retain ownership until paid, secured against the goods or monies collected in the sale of those goods. If their contracts didn't, the only thing in dispute is the money the original owner owes them...you're out of the loop.
Make em prove that they retain ownership before you return it. Just because they haven't been paid doesn't mean they still own it. (reams of this kind of stuff under UCC rules...google it)
Koz
williamhenry wrote:
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