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Thread: Martin getting auctioned off?

  1. #31
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    an member on AT said the auction will take place Sept. 1st.
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  2. #32
    Senior Member daiwateampenn's Avatar
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    bank will only goes auction as the last resort or last choice.

    before going auction, many things can be done

    1. restructuring the repayment?
    2. additional Fix Assets to as subsitute the outstanding?
    3. refinance to other financial institution?

    Auction will cost a lot time, paper work, and money to the bank, and usually auction will end up in a lower price, thus still a cost involves for bank to follow up with the outstanding balance.

    Auction???? unless the situation is real bad.

    just my 2 cent opinion as a banker
    Last edited by daiwateampenn; 08-13-2013 at 10:52 PM. Reason: typo error
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  3. #33
    Senior Member typically8's Avatar
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    Spiker, I think he was praising him. "From his cougar to mine". I believe he shot a cougar with a Martin Cougar. Just saying.
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  4. #34
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    nice shooting Otis !!!!

  5. #35
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    I've noticed some adds on eBay stating 1 year warranty on new bows. My manual says lifetime if I remember correctly. Glad my limbs are on the way.

  6. #36
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    Default Auction does not necessarily mean bank forced

    Folks,

    Everyone is assuming that an auction is a bank controlled thing, and a piecemeal liquidation of equipment, inventory, property, etc. Not necessarily so. If you own it, you can sell it at, and an auction is one way to do it. In the context of a corporation with multiple lines of business, it may be a means to bring multiple potential buyers together, and/or weed out the lurkers who are not really serious about buying and potentially wasting the seller's time.

    For example, Buyer A says they want the compound bow line, but not the traditional, Buyer B wants the traditional only, and Buyers C & D say they want them both, Buyer C says they won't buy just one or the other, but Buyer D says they will. Perhaps there is more than one potential buyer in more than one of the categories.

    A seller can go nuts (and bankrupt) waiting out the offer/counteroffer, "let me check on financing", etc. process with multiple potential buyers. So an auction is one means to establish a deadline. Does not necessarily mean thatthe gates will be opened up and individuals will be invited to bid one by one on forklifts, lathes, and other equipment.

    Business is business, and Martin is a name with some value in the archery industry. I hope that any buyer is going to pick things up, polish them up, and return the company to the type of innovation and customer service Martin has been known for, including honoring existing warranties, maintaining stock of parts for older models, etc.

    Only time will tell.
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  7. #37
    Super Moderator bfisher's Avatar
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    Good point , dg. Could be that whoever was interested in the company just couldn't strike a deal with the bank. Afterall, there is the matter of $1.6 mil of debt that hangs over the company. Maybe some potential buyers are sitting back and waiting to bid at auction. Just have to wait and see.

    Oh, I was also told that the local newspaper in Walla Walla doesn't inform it's readers about these type of things. Nothing listed so far about Martin. Probably the same type of ideology that keeps the mainstream media from reporting the scandals that plague our govt. agencies.
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  8. #38
    Senior Member andy_camping's Avatar
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    Wow, this is a sad day and I can't believe these things keep following me. My 2012 Bengal was the first new bow since my 1997 Golden Eagle Litespeed. If I'm correct that company was also out of business a few short years after. I'm not having great luck.
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  9. #39
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    Hey Andy,
    Don't feel like a lightning rod.....this kind of thing is all too common in todays business world....at least it is in America. There are a number of factors in this method of "closing the doors" that are advantageous to a company, but this isn't the forum to discuss that. Lets just all hope that some well intentioned buyer picks up Martin with the intention of maintaining their ability to innovate and their incredible heritage in archery.
    Take care, and enjoy that Bengal. No matter what, it's still a great bow....I've still got my '08 Bengal and it's good as new (better than the Martins that followed, actually).

  10. #40
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    Barry,
    Thanks for the updates. I know that we were all hoping for some good news, but at least we know what is happening to a company that many of us, apparently, have some sort of attachment to. I know that we all share a love of archery....guess that Martin embodied much of that heritage with an American flavor. And who can forget the amazingly beautiful Martin bows of the past that were truly the bow of the aficienado.

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