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  1. #1
    Join Date
    Sep 2003
    Location
    Montgomery, Ala.
    Posts
    8,222

    What happens to all the repossessed printing equipment?

    I'm curious...I know of three digital printers locally that have been repossessed by the leasing companies and if there are three here there must be 10,000 across the country.

    Where are they?

    I know where to buy repossessed furniture, cars, homes, and just about anything else but I don't think I've ever seen a repossessed sign printer sale.

    (not that it really matters, I'll buy new if I ever buy a printer, I'm just curious)

  2. #2
    Join Date
    May 2009
    Location
    Sydney Australia
    Posts
    702
    We get them over here, sometimes complete signshops, printshops and big ones...
    They go up for auction...get some great deals.

  3. #3
    Join Date
    Feb 2007
    Location
    Columbus, Ohio
    Posts
    1,519
    There is a big outfit in West Virginia who deals a lot with repo sign equipment. I was thinking about buying a printer off them a while back. However, they have -NO- detailed info on any of the units other than if the printer powers on. Most of them I assume were pulled right out of shops without the proper shutdown procedure. I would also assume you might be dealing with bad heads, capping station, etc. From the prices I've seen them ask there was too much risk. Other repo outfits might be different.
    Sean
    PROSIGN STUDIO

    Treat me good, I'll treat you better,
    Treat me bad, I'll treat you worse!

  4. #4
    Join Date
    May 2009
    Location
    Sydney Australia
    Posts
    702
    From the ones I've seen they look as if they still have half printed graphics in them. On some of them the heads aren't even parked.

  5. #5
    Join Date
    Mar 2005
    Location
    Peru, Indiana
    Posts
    107
    From what I have seen they get reposessed and put into cold storage. From there they turn into a dried up pile of junk that they want to sell for full running price.

  6. #6
    Join Date
    Jun 2004
    Location
    Orlando Florida
    Posts
    6,605
    yes wonders myself ... although no money or knowledge on printers, much less software hope to one day

    been seeing sign shops selling equipment on Craigslist more & more some good deals some prime dollar, so it only stands to reason as more close up, seen 3 in the last few months within 5 miles full printing equipment etc. and expect several more, mostly the shops that have no idea what advertising is and don't care to learn closed or are close to closing, also seeing disparate measures like prices at break even point they are now dropping wraps to ...HALF at what they where a few months ago

    wonders how much more this will hurt the rest of us or for those that hold strong how it will help in reality

  7. #7
    Join Date
    Jan 2007
    Location
    Manahawkin NJ
    Posts
    1,506
    From my extensive research, big machines like vuteks and gandis are put to bed properly before repo or lease turn in. Smaller machines like mimakis HP 9000's and mutohs are often not. Many times a lot of the stuff is also end of lease and the lessee decides not to take the 10% buyout option. Either way, the leasing co very rarely pays a tech to put the small machines up properly for storage as its not worth it.

    I "bought" from a leasing liquidator based on pictures posted on the web. I wanted it for parts only. A DJ9000 for 3k (worth it for heads and capping station assy alone). Initial pics looked good. Funny thing was when I pressed the issue for more photos before I drove 10 hrs to get this thing, the add'l photos showed the machine was beat and no where near worth 3k. I didnt loose any money, but as the saying goes there's an *** for every seat and someone will eventually hit on it.

    Buyer beware (squared) when buying this stuff. If you are into rebuilding a printer, and have the time and patience, it may be for you. If you expect to hit a home run and get a cheap machine ready to run, that's probably unlikely.

  8. #8
    Join Date
    Jan 2009
    Location
    Niagara Falls
    Posts
    2,269
    they put them up for sale on ebay. i bought bought one out of texas before.

  9. #9
    Join Date
    Aug 2005
    Location
    Berlin Center, Ohio
    Posts
    1,002
    Earlier this year I was able to secure a FANTASTIC deal on an almost new MimakiJV33, A MimakiCG160fx cutter and a Royal Sovereign 1650H/HR.
    Having access to good people deep inside leasing company's is the key to getting great deals. These contacts are nurtured and well kept secrets.

    My contact saved me $20,000 on my purchase.

  10. #10
    Join Date
    May 2005
    Location
    land of the banned
    Posts
    3,926

  11. #11
    Join Date
    Sep 2009
    Location
    blackwood NJ USA
    Posts
    44

    lease company

    I just picked up a second printer and lamanater 9 mouths old with software and balence fact. warranty $21,000 vp540i / royal 65"
    http://www.gogenevacapital.com/used.html

  12. #12
    Join Date
    Feb 2007
    Location
    Queen Creek, AZ
    Posts
    4,536
    Call a few leasing co's and ask.. mine is Omni Leasing in Colorado

  13. #13
    Join Date
    Nov 2009
    Location
    Atlanta
    Posts
    110
    Ask the printer company who they use for leasing. Contact leasing Company Directly. They often use a 3rd Party to liquidate the equipment. You may can strike a better deal.

  14. #14
    Join Date
    Mar 2007
    Location
    Texas
    Posts
    565
    One question. Do printing company who had their printer repo'd has to pay for the remaining of the lease term? Why they didn't sell them before the lease term ended? Can you even do that? I know one guy who did that on his car.

  15. #15
    I got a 64" full-solvent printer for $600 at an auction -- a little (read: a lot) of TLC (but no hardware changeouts) and I am now in the printing biz

  16. #16
    Join Date
    Apr 2008
    Location
    Panama City Beach, FL
    Posts
    2,188
    it gets ground into sausage.

  17. #17
    Join Date
    Jun 2004
    Location
    Alabama
    Posts
    3,111
    there are deals to be had...but most of the time they are not deals if you can not do the repairs due to neglect yourself.

    the majority of the equipment that i see is either repo OR unpopular equipment that ppl couldnt wait to get out of their shop and move onto something new.

    i was present at a leasing companies leased warehouse where they had a mobile trash compactor for lack of a better word come and crush literally hundreds of printers that had been returned to them that they simply could not get rid of.

    the other thing i have seen happen is that if it is a lease company that really has a presence in the sign industry and one of their clients that has a lease with them is having equipment problems and they have a like machine that has been returned to them, i have seen them swap them out (on rare occasion) but i have seen it happen.
    Last edited by Just Another Sign Guy; 12-16-2009 at 04:36 PM.

  18. #18
    Join Date
    Oct 2009
    Location
    Nebraska
    Posts
    5,657
    We have bought some equipment at aution. Keep your eye in the public notices in the paper. We have also bought two shops out before they filed, got stuff for pennies on the dollar. And yes one of them was a competitor.

  19. #19
    Join Date
    Dec 2006
    Location
    Spartanburg SC
    Posts
    534
    We once purchased an entire offset shop for $10k (we were the only ones to show up to the Bankruptcy auction). I sold to pieces of the equipment at redicuosly low prices, but those two pieces of equpment put the $10k back in my checking account, so everything else, counters, bindery equipment, a $35,000 imagesetter, paper and ink inventory, etc, was profit. I still use most of that equipment to this day.

    More recently, I bid about a thousand bucks per item on a bunch of offset printing equipment on a sealed bid auction, the only the we won was a $45,000 (new price) automated bagging machine. I rented a truck, drove to Atlanta, picked it up, and got it setup in my shop, all in one day. A few days later while I was bagging a shirt job an equpment broker came in and asked if we had anything we didn't use. I sold him the bagger (really dont bag to many shirt orders) for $4k on the spot. I figured that was a pretty easy $2k profit (after labor and moving expenses) for a days work. I am sure the equipment dealer could sell the thing for $10k+.

    EDIT: Oh yea, I asked the equipment dealer if that was the best deal he had ever gotton, he said "no" and told me about getting a $20,000 offset press for $1, and about being given a very specialized coupon machine which he then sold for $70k.
    Last edited by imagep; 12-16-2009 at 08:07 PM.

  20. #20
    Join Date
    Jan 2006
    Location
    houston, tx
    Posts
    296
    Quote Originally Posted by slapakiss View Post

    Thanks! is this for public too?

  21. #21
    Join Date
    Jun 2008
    Location
    Boston
    Posts
    647
    Quote Originally Posted by Mosh View Post
    We have bought some equipment at aution. Keep your eye in the public notices in the paper. We have also bought two shops out before they filed, got stuff for pennies on the dollar. And yes one of them was a competitor.
    Mosh, how did you know they were going out of business? Did they contact you?

    One of my competitors contacted me to buy them out or merge, they just wanted to get out of the business, but had unreasonable expectations for what their company was worth.

  22. #22
    Join Date
    Jun 2008
    Location
    Boston
    Posts
    647
    Quote Originally Posted by jhilldesigns View Post
    I got a 64" full-solvent printer for $600 at an auction -- a little (read: a lot) of TLC (but no hardware changeouts) and I am now in the printing biz
    How did you pull that off? I need a second 64" and for $600 bucks I would buy 10!

  23. #23
    Join Date
    Jun 2006
    Location
    ky
    Posts
    860
    Wow need to find some of them deals.

  24. #24
    actually a friend in the sign biz (different city than ours) picked it up so that noone in his neck of the woods could, then called us and asked if we wanted it

  25. #25
    Join Date
    Jan 2008
    Location
    Roy, WA
    Posts
    207
    Here is an auction happening this Friday.

    http://www.murphyauctions.net/signsbytomorrow.html

  26. #26
    Join Date
    Feb 2007
    Location
    Queen Creek, AZ
    Posts
    4,536
    Do printing company who had their printer repo'd has to pay for the remaining of the lease term?
    If they were paying at all then they wouldn't be getting repo'd! They get sued by the leasing company. They still dont pay. Leasing company gets default judgement. Printer declares bankruptcy. Hopefully he didnt sign a Personal Guarantee, but if so, lather-rinse-repeat on the personal side.

  27. #27
    Join Date
    Jul 2009
    Location
    The Great State of Texas
    Posts
    1,706
    They get stored in warehouses's, never to be heard from again... Why sell a used one when you can sell a new one?

  28. #28
    Join Date
    Aug 2009
    Location
    Cali
    Posts
    29
    ive bought a couple of rolands from repo companies and saved alot of money! the key is to buy them as soon as they get in, so u have less risk of anything major being damaged.

  29. #29
    Join Date
    Aug 2008
    Location
    Tri-state
    Posts
    172
    got to have the real inside connection.

    by the way that place in WV mentioned above is a complete JOKE.

  30. #30
    Join Date
    Dec 2009
    Location
    Toronto, Ontario
    Posts
    222
    My company places used, demo & repo equipment. I deal with every supplier in my area and have agreements in place with them to get servicing, installation and even service contracts in place. If you are looking to buy something that is a roll of the dice that you can get ultra cheap, sometimes I can even tell people where to go and pick up machines for parts. As Rick said above, don't expect these to be shut down properly. I have also watched machines go at auction for full pricing as well. It can be a crap shoot. If you have a good distributor in your area you should be able to get an honest opinion based on your relationship that is not clouded by a desire for them to make a quick sale. They quite often know the machine you will be asking about. I personally try not to ever sell anything that cannot be serviced or that you cannot obtain a service contract on.

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