Interesting Items Formerly on eBay
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Post Posted: Wed Oct 24, 2007 5:39 am 
 

aia wrote:very special auction, pick-up on site only...


** expired eBay auction **


dont ask me the reason for such a strict rule...  :roll:




nice looking shop, but a little short on stock i would say!



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Post Posted: Wed Oct 24, 2007 8:39 am 
 

killjoy32 wrote:
nice looking shop, but a little short on stock i would say!

Al


"Our average sales are just around $5,000 dollars a month. With a little more advertising you could send this number higher."

gee, i wonder why they're going out of business.  i've been to wilmington several times, and activley looked for a gaming store and couldn't find one... :roll:


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Post Posted: Wed Oct 24, 2007 10:57 am 
 

killjoy32 wrote:nice looking shop, but a little short on stock i would say!


Talk about paying for a name.  The list of stock and furniture and everything in the store evaluated at $86K so you are paying $214K for their good name and actual business.  Not to mention that his $86K looks like he is selling you everything at full retail price.  $99 for a used ps2 console or you could buy it new for $100.

I think it is pretty easy to tell why this guy is going out of business: 4 internet camera's $1500?

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Post Posted: Wed Oct 24, 2007 11:15 am 
 

He'll never sell it. He's asking a stupid amount for it, and it is a money pit, as most game stores are. He CLAIMS it has $5K in sales per month, but that is SALES, not profit.


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Post Posted: Wed Oct 24, 2007 11:23 am 
 

Deadlord39 wrote:He'll never sell it. He's asking a stupid amount for it, and it is a money pit, as most game stores are. He CLAIMS it has $5K in sales per month, but that is SALES, not profit.


He's just fishing for offers. No one in their right mind would pay anything over 30k for that mess.  Like the shelves, though.....

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Post Posted: Wed Oct 24, 2007 11:27 am 
 

Mars wrote:so you are paying $214K for their good name and actual business


Pretty much, and it's only a year old -- so it's not like it's that much of a name.

Deadlord39 wrote:He CLAIMS it has $5K in sales per month, but that is SALES, not profit.


I'm curious to know his expenses as well, particularly rent.  I've got a feeling that he probably could cut them by a fair bit if he tightened up his shelving (there's a lot of it for the amount of stock visible), did the same with the other bits, and moved into a smaller location.

Granted, there may be a reason he's where he is, but to me it looks like there's plenty of wasted space. :roll:

  

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Post Posted: Wed Oct 24, 2007 11:37 am 
 

That is a situation where a potential buyer would have to look at the demographics to see if a store of that size would be sustainable.
Also, what about the location? Is there parking? Is it on a bus route?
How much competition does he have in the area?

Some game/comic stores just don't know what they are doing. I dropped into a local store last week (Mad City Comics) to see if they had any Chaosium products (I was looking for Malleus Monstrorum) and the person working there had never heard of Chaosium.  :(


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Post Posted: Wed Oct 24, 2007 11:45 am 
 

jasonw1239 wrote:Some game/comic stores just don't know what they are doing. I dropped into a local store last week (Mad City Comics) to see if they had any Chaosium products (I was looking for Malleus Monstrorum) and the person working there had never heard of Chaosium.  :(


While I don't know about their current model, I'm pretty sure they got by back when they were Haley's Comics mainly because they were the only game in town between Wilke's closing and Gamezilla opening, and due to their sale of used paperbacks and magazines.  (Though I suppose their location near the high school probably didn't hurt things. ;) )

I'm not terribly shocked on the Chaosium bit though, as it seemed to me that all they ever carried was TSR stuff during the mid-90s -- even in the middle of the White Wolf craze.  (I could be remembering wrong though.)  A wide-ranging selection was never their forte, it seems. :roll:


Last edited by g026r on Wed Oct 24, 2007 11:47 am, edited 1 time in total.
  


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Post Posted: Wed Oct 24, 2007 11:45 am 
 

Deadlord39 wrote:He'll never sell it. He's asking a stupid amount for it, and it is a money pit, as most game stores are. He CLAIMS it has $5K in sales per month, but that is SALES, not profit.


It should also be pointed out that $5k in sales breaks down to an earth shattering $167 a day in a 30 day month.  8O At least you'll have lots of free time... :lol:


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Last edited by bclarkie on Wed Oct 24, 2007 12:37 pm, edited 1 time in total.
  

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Post Posted: Wed Oct 24, 2007 11:47 am 
 

What is a Chaosium? Is that like a nurgling, but cooler? Heheh.


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Post Posted: Wed Oct 24, 2007 12:33 pm 
 

dsaunders wrote:
"Our average sales are just around $5,000 dollars a month. With a little more advertising you could send this number higher."

gee, i wonder why they're going out of business.  i've been to wilmington several times, and activley looked for a gaming store and couldn't find one... :roll:


$5000 is pathetic, even with a 40% margin he would net only $2000.  After Rent, utilities and employees this guy is losing money every month.  $300,000 is a joke to buy a money losing business.  Auctions like this give Ebay a bad name


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Post Posted: Wed Oct 24, 2007 12:41 pm 
 

Blackmoor wrote:
$5000 is pathetic, even with a 40% margin he would net only $2000.  After Rent, utilities and employees this guy is losing money every month.  $300,000 is a joke to buy a money losing business.  Auctions like this give Ebay a bad name


Oh c'mon know surely you must be kidding.  At $167 per day in sales you don't need any employees.  :P


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Post Posted: Wed Oct 24, 2007 2:31 pm 
 

Being from Toronto, I had assumed the $300k figure included the actual building as well.

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Post Posted: Wed Oct 24, 2007 2:54 pm 
 

I notice that it's now been edited so that it now says that an additional $25,000 was put into the shop after it opened, as opposed to the original $100,000.

Colour me (more) suspicious.

Hrm, that is a good question: what is the normal cost of starting up a gaming shop?  After all, he lists the physical assets at $86,000, so we can likely assume that an additional $64,000 of non-physical assets went into the $150,000 he lists as store startup costs.

  

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Post Posted: Wed Oct 24, 2007 2:57 pm 
 

deimos3428 wrote:Being from Toronto, I had assumed the $300k figure included the actual building as well.


In Moncton, for $320,000 you can get a downtown 3 story building with street level storefronts.
Combination game store/rental property for that amount of money...  :D

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Post Posted: Wed Oct 24, 2007 3:22 pm 
 



That the building Attic Owl used to be in?

  


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Post Posted: Wed Oct 24, 2007 3:28 pm 
 

jasonw1239 wrote:
In Moncton, for $320,000 you can get a downtown 3 story building with street level storefronts.
Combination game store/rental property for that amount of money...  :D

http://matrix.cwlepage.com/user/website ... sID=269866


Well, there ya go.  Similar listing (now sold) in downtown Toronto: $2.1 million.

http://www.boylecommercial.com/downloads/272Rich.pdf

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Post Posted: Wed Oct 24, 2007 3:35 pm 
 

Blackmoor wrote:
$5000 is pathetic, even with a 40% margin he would net only $2000.  After Rent, utilities and employees this guy is losing money every month.  $300,000 is a joke to buy a money losing business.  Auctions like this give Ebay a bad name


You know, I skipped over that when I first read it.  I almost make that myself in a pretty good month. What a frikken loser  :lol:

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Post Posted: Wed Oct 24, 2007 3:50 pm 
 

I offered him $500 for the lot. I might be able to get a flame war going. I'll just keep offering more in increments of $10 till he responds.


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Post Posted: Wed Oct 24, 2007 3:53 pm 
 

g026r wrote:
That the building Attic Owl used to be in?


Yup, that's the building on Main Street right beside the train bridge and across the street from the Atlantic Lottery building.


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