The first lots in a mega 35,000 bike auction have been listed as part of the administration of major cycling distributor Moore Large.
On Friday, the first 300 bikes up for auction were put up for bidding on Nottingham-based auction house John Pye & Sons’ website(opens in new tab). The products include e-bikes, commuter bikes, mountain bikes and beginner road bikes.
Moore Large, which was reported to have collapsed last week, is now selling off stock and assets valued at £35 million. The administrators, FRP advisory, have appointed John Pye to deal with the sales.
Of the stock being sold, there are around 35,000 bikes, valued at £25 million, as well as parts and cycling accessories including clothing and helmets.
Moore Large previously stocked an array of brands, including Forme, Lake, Microshift, Barracuda and Vitesse, all of which are likely to turn up in auction lots.
The majority of the items up for auction from Friday are Barracuda bikes, but there are also Forme e-bikes and Vitesse commuter options available.
Home delivery in the UK is available for all lots. Earlier this week, Charles Loake, joint head of John Pye Business & Property, said that this was an “opportunity for enthusiasts to potentially secure some big names bikes and accessories at a great price”.
People interested can also attend a viewing at John Pye’s Chesterfield sale room for these first lots on Saturday 25 March. The first auction ends at 2pm on Saturday. Further viewings for other lots will take place on Monday at the auctioneer’s Marchington site.
Buyers should note that there is a 25% buyers premium to pay, as well as 20% VAT, so some items might not be as cheap as they seem, and there is a £45 delivery charge, plus VAT, should you not wish to pick it up.
Among the items up for sale is a Barracuda Corvus-Steel beginner road bike, RRP £189, for which the bid is currently at £70. A Flite Punisher Mag BMX can be bid on for as little as £37, well beneath its RRP of £280.
There are also more expensive bikes listed, like the Vitesse Lightweight e-bike, which can currently be bid on for £470, below its RRP of £1400. The Forme Morley 1E e-bike is already at £1,000, but that is well below half its RRP, £2700.
For the commuter who doesn’t want an e-bike, the Barracuda Carina Ladies model can be bid on for £80, below a quarter of its RRP of £400.
“It has been a very difficult time after we all worked so hard to save Moore Large,” company director Adam Briggs told DerbyshireLive(opens in new tab) earlier this week. “To all the staff, I really can’t thank them enough for their loyalty and commitment.”
Currently, a skeleton staff is being kept on at the Derby-based company to deal with the administrative process. It has been said that over 100 people are set to lose their jobs.
Source : Cycling Weekly
