The Pro’s Closet?

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Originally Posted by rideit

Just think of how much shit disappeared over the course of their operations as well, lol.

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I watched a few TPC YouTube videos.
Their tool benches had high end tools on all the benches like Wera colored hex keys, Knipex wrenches, and digital torque wrenches.
Not one auction item had any niche tools that I lust after, just generic park tools and WMF bearing presses.
I bet the “mechanics” walked away with all the good stuff.
Actually I saw one Roval Spoke Holder that is a really nice tool. Like a $275 tool that does the same as the $30 Park tool version, but nicer (not $245 nicer). But of all the auctions, that’s the only single piece I would have wanted.

Was looking for (but glad I didn’t feel the need to buy) a spoke cutter, disc mount facer, or a brake bedding machine (I didn’t like the model they had).

I was bummed to miss out on the end of auction for one of those Samsung 60" TV's for the house. That model is a $1500 TV that went for around $300.

what was average discount on the bike stands and tools?

Those bike washing tubs all went for $2500+!!!

An acquaintance got a few things...shop stool, some storage furniture, and a park pro truing stand. Truing stand was mounted on a work bench, came with a bunch of random tools, and several boxes of jagwire cables.

Dunno about the other stuff, but it looks like the truing stand (with extras) went for $400--which is only 30% off MSRP but there's probably a $200 in extras.

Apparently there was a second round auction where they sold off parts and inventory:
https://online.localauctions.com/auc...71/bidgallery/

Could have lived your dream of having a pallet of Torqkeys!

My acquaintance bought a few dozen wheels, a bunch of shoes, and some stacks of shipping materials.

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Originally Posted by singlesline

Apparently there was a second round auction where they sold off parts and inventory:
https://online.localauctions.com/auc...71/bidgallery/

Could have lived your dream of having a pallet of Torqkeys!

My acquaintance bought a few dozen wheels, a bunch of shoes, and some stacks of shipping materials.

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Can't believe I missed out on the pallet of random bike rims.

That’s fucked. Not just because of those wild pallet deals, but I’m confident most of those parts were not showing up on the website. I specifically looked for rims, rotors, and drivetrain parts and found zero. Which turns out is exactly how many fucks they gave.


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I received in my inbox the proof of claim forms for creditors. Did everyone get emailed that? I never bought or sold anything via TPC but maybe should claim I’m owed one of those wash stands

Got one, I'm sure I'm owed something…

The Pros Closet is back!! ????

https://www.bicycleretailer.com/reta...iliar-managers

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Originally Posted by Kirkwood

The Pros Closet is back!! ????

https://www.bicycleretailer.com/reta...iliar-managers

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Wild

Cool. It can be a sustainable business model if they let it grow organically and don't dump tens of millions of PE into it like gasoline on a campfire.

I'm not sure what I envisioned if i ever did, but had NO idea TPC was that big

the Bullit I paid 11500 3 yrs ago I could have bought for 7 or 8K last spring

it is defintly not a sellers market

Interesting timing after they just dumped all/most of their inventory. I just submitted a bike for sale, we'll see how desperate they are for quality inventory.

Apparently the new buyers don't realize that it's NOT a seller's market these days. Or maybe they just think they can lowball sellers even more than the typical Pinkbike buyer?

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Originally Posted by smmokan

Interesting timing after they just dumped all/most of their inventory. I just submitted a bike for sale, we'll see how desperate they are for quality inventory.

Apparently the new buyers don't realize that it's NOT a seller's market these days. Or maybe they just think they can lowball sellers even more than the typical Pinkbike buyer?

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The user experience for the seller is important, to me at least.
I'd rather take less money but roll up, drop off, get paid instead of standing in a cold parking lot while someone hems and haws and tries to talk me down further. I'd also rather something be gone tomorrow than sit in my garage for months while I slowly lower my price.

For the buyer this is the same as well. People selling used bikes are sketchy and if you aren't an experienced rider / mechanic then you don't know if you're getting a lemon. Buy used from a business is likely Certified Pre-Owned for the used car market- someone you can trust (or at least complain to). (I'm not saying you can / should trust them, just that it's the value prop they bring to the consumer).

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Originally Posted by XtrPickels

The user experience for the seller is important, to me at least.
I'd rather take less money but roll up, drop off, get paid instead of standing in a cold parking lot while someone hems and haws and tries to talk me down further. I'd also rather something be gone tomorrow than sit in my garage for months while I slowly lower my price.

For the buyer this is the same as well. People selling used bikes are sketchy and if you aren't an experienced rider / mechanic then you don't know if you're getting a lemon. Buy used from a business is likely Certified Pre-Owned for the used car market- someone you can trust (or at least complain to). (I'm not saying you can / should trust them, just that it's the value prop they bring to the consumer).

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Yup. So in this regard the current lowball market might work well for them - grab the low priced sketchy inventory out there and refurb it into something cheaper than new but that buyers can still trust.

I hope they get back to selling take-off wheels and forks.
And keep full retail new shit out of there.


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Originally Posted by jm2e

I hope they get back to selling take-off wheels and forks.
And keep full retail new shit out of there.


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I wonder if them starting to acquire close-out inventory a la TJX was part of their downfall. Those to have to be large outlays for a large chunk of inventory that's expensive to store.

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Originally Posted by EWG

refurb it into something cheaper than new but that buyers can still trust

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When I sold bikes to them, they told me to take my aftermarket saddles, grips, etc. because even though they were high-end and in good shape, they were going to toss them for something new. (I thought it was pretty solid of the dude for telling me to take them).

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Originally Posted by Skistack

Cool. It can be a sustainable business model if they let it grow organically and don't dump tens of millions of PE into it like gasoline on a campfire.

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Originally Posted by XtrPickels

The user experience for the seller is important, to me at least.
I'd rather take less money but roll up, drop off, get paid instead of standing in a cold parking lot while someone hems and haws and tries to talk me down further. I'd also rather something be gone tomorrow than sit in my garage for months while I slowly lower my price.

For the buyer this is the same as well. People selling used bikes are sketchy and if you aren't an experienced rider / mechanic then you don't know if you're getting a lemon. Buy used from a business is likely Certified Pre-Owned for the used car market- someone you can trust (or at least complain to). (I'm not saying you can / should trust them, just that it's the value prop they bring to the consumer).

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Agreed. It's a reasonable business model, things just got way out of hand and their market timing could not have been worse.

Article says they're bringing in the guy who was head of purchasing, so the guy who spent way too much on aeron desk chairs and EVT bike stands? haha

Yes I know there's more to the equation than that, just seems funny

Last year they offered me $1500 for my wife's brand new gravel bike (top of the line salsa) and refused to buy mine which was also brand new ($12k worth of bikes when purchased at the height of the market). I called it a scam and the rep got back to me saying that the bike industry was taking a nosedive and prices were going way down. Definitely an omen of where they were at. So yeah, market forces definitely hurt them badly.

The price ^^ is always what the market will bear and the price aint the price till you got the money in your hand or texted to your account

imagine the poor ( but not poor) local MD who could not buy a Yeti at any price during the shortages in 2020 and had to pay top dollar for my 5.5

In store bikes seem to be starting at 50% off. The margins a place like this live on will be so much less. I hope the founders all made 7 figure paydays at the expense of the VC guys and now can restart out of their nice garage.

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Originally Posted by bamboocoreONLY

Article says they're bringing in the guy who was head of purchasing, so the guy who spent way too much on aeron desk chairs and EVT bike stands? haha

Yes I know there's more to the equation than that, just seems funny

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Yeah, but what you don't know is that they just bought back all those chairs and stands (and wash tubs) at a fraction of the original price.

Use the bankruptcy to get out of your debts and wipe out the VCs, break your lease on an oversized facility, and fire all your workers...then retrieve the name/website and rebuy your useful assets at liquidation!

Isn't that ^^ more or less what Kona did ?