95 replies to this topic

[deSitter]

Rumors are the auction got canceled

Well yeah. That makes sense. NHL game (LA Kings) got canceled. Vikings-Rams will likely be moved to Arizona.

 

-drl

[abe]

I can see no need to re-imagine Orion? They didn’t really make or innovate anything, particularly in the last ten years. 

A while back Ed Ting did a video about the 10 most influential / innovative telescopes of all time:
​https://www.youtube....h?v=34S8ID_a4wM

 

- The top spot went to the Meade LX200.

- 3 out of 10 went to Meade products (Meade 2080, Meade LX200, Meade ETX).
- 2 out of 10 went to Orion Products (Orion XT8, Orion Starblast).
- The remaining non-Meade/Orion products were Questar, Dynascope RV-6, Celestron C8, AP Traveler, ZWO SeeStar.

The fact that we're losing the creators of 60% of the most influential telescopes of all time in one year seems significant. 

[ericb760]

Watsonville is nowhere near LA.

[deSitter]

Watsonville is nowhere near LA.

California is responding as a state - but it's moot, apparently it was ALL bought out. "Sold"

 

-drl

[Tracerocks]

I had bids on several lots. Times auction was supposed to end on Friday.

This morning all lots are closed and auctioneer has decided not to publish prices.

Anyone hear what happened? Did a big buyer purchase entire inventory?

[ericb760]

Well, that certainly was anticlimactic... 

[deSitter]

Well, that certainly was anticlimactic... 

Not at all! It is extremely interesting. Someone may have been waiting to judge the interest in this very specialized inventory of many high-ticket items.

 

-drl

[CharLakeAstro]

Maybe Chas bought it all. 

[warrentug]

The auction company never planned on "us" getting anything, they were trying to pressure a buyer to offer a higher price.
Even though the auction stated that had to be done by Monday they kept changing the times behind the scenes.
Horrible taste left after this.

[Lucas.Maguire]

I'm currently waiting to see if I won a lot.... highly doubtful 

[ericb760]

Not at all! It is extremely interesting. Someone may have been waiting to judge the interest in this very specialized inventory of many high-ticket items.

 

-drl

There had to be close to, or even well over, $1M in inventory. I'm curious as to who, or what entity, would have that kind of capital just laying around.

[deSitter]

Maybe Chas bought it all. 

That did cross my mind early in processing the data

 

-drl

[CosmicArk]

I had bids on several lots. Times auction was supposed to end on Friday.

This morning all lots are closed and auctioneer has decided not to publish prices.

Anyone hear what happened? Did a big buyer purchase entire inventory?

per Rabin: 

AUCTION CANCELED BY ORDER OF ASSIGNEE
 

Thank you for your interest in this auction. Under its authority and discretion, the Assignee has accepted and closed a funded offer for the bulk purchase all inventory lots and certain intellectual property from a bidder with whom the Assignee has been negotiating since prior to the pre-bid deadline. As a result, we are closing this auction. The Assignee may, at its election, conduct another auction for the remaining assets of the ABC at a future point in time.  We appreciate your interest and look forward to working with you again.

https://rabin.com/Ov...ado-telescopes/

However, this auction was not a reserve auction. There's a legal case to be made here per California Commercial Code § 2328 and California Penal Code § 395. Almost like the buyer was waiting to see where the bids were before making another offer. 

[wykbbb]

There had to be close to, or even well over, $1M in inventory. I'm curious as to who, or what entity, would have that kind of capital just laying around.

I think the domains could be worth more than the equipment inventory. 

 

Telescope.com
Telescopes.com
Binocular.com
Binoculars.com

 

Rubin states "certain intellectual property" was involved in the sale.  I wonder if the bidder  can restart a business using Orion, Meade, Coronado names?  Does Meade or Coronado have current patents? 

[Tracerocks]

I guess I’ve bought my last Meade product. Next stop Planewave.

[CosmicArk]

I guess I’ve bought my last Meade product. Next stop Planewave.

I wouldnt be so sure. The auction ended because the entire IP was purchased, so Meade might come back (though I know this has put a sour taste in a lot of people's mouth). 

[DouglasPaul]

per Rabin: 

AUCTION CANCELED BY ORDER OF ASSIGNEE
 

Thank you for your interest in this auction. Under its authority and discretion, the Assignee has accepted and closed a funded offer for the bulk purchase all inventory lots and certain intellectual property from a bidder with whom the Assignee has been negotiating since prior to the pre-bid deadline. As a result, we are closing this auction. The Assignee may, at its election, conduct another auction for the remaining assets of the ABC at a future point in time.  We appreciate your interest and look forward to working with you again.

https://rabin.com/Ov...ado-telescopes/

However, this auction was not a reserve auction. There's a legal case to be made here per California Commercial Code § 2328 and California Penal Code § 395. Almost like the buyer was waiting to see where the bids were before making another offer. 

I hope does someone just that.

Edited by DouglasPaul, 09 January 2025 - 06:05 PM.

[CharLakeAstro]

Don't need that capital laying around, just need enough credit. Even small businesses, many could easily swing 5M. 

 

There had to be close to, or even well over, $1M in inventory. I'm curious as to who, or what entity, would have that kind of capital just laying around.

[scout]

Don't need that capital laying around, just need enough credit. Even small businesses, many could easily swing 5M. 

The auction terms state: Payment is due and payable in cash, by cashier’s check, wire transfer, company check.

[CharLakeAstro]

Yes, but I don't know what point you are making. I am just a little guy, but could easily leverage 1M cash in 1 day, borrowed against other assets, and have cash in their hands tomorrow.

 

The auction terms state: Payment is due and payable in cash, by cashier’s check, wire transfer, company check.

[Sean Cunneen]

I am locking this thread as the auction has been canceled....

 

Thanks,

Sean