After what sounds to me as a fiasco online auction 2 weeks ago, Bruce Rossmeyer’s Harley-Davidson, the largest Harley Dealer in the world, is at it again starting tomorrow November 20 until Sunday 22 trying to liquidate over $2 million of pre-owned bikes. And not only motorcycles, but also clothing, parts, accessories & chrome sold at 25% to 80% discount! Even a stock of Buell parts at slashed prices. As an observer, how does it sound to you? Do you have the same feeling than me? Like most Harley Dealers, Rossmeyer’s dealerships are overwhelmed with repo bikes (coming back to the dealer from the generation of “6-year loan, no credit check, everybody approved”) and trades taken in to try to reach new 2009 and 2010 bike sales objectives.
All motorcycles will be on display in the secured area at Bruce Rossmeyer Harley Davidson, 1637 US Highway 1, Ormond Beach, Florida 32174. The auction as I understand it (received conflicting info). On each motorcycle there will be its normal retail selling price. When the sale begins at 9 am on Friday, Saturday and Sunday, November 20th-22nd, 2009, buyers will have an hour to inspect the bikes. Then at 10 am whoever is sitting on the bike when the posted price is slashed will have the first right to purchase the motorcycle at the proposed price. Prices will be slashed one time and one time only to the rock bottom price. To incite you to make the trip to Ormond Beach 2 Harleys will be priced at $88.00 (not a typo). The customer gets the best price up-front, without any haggling or wasted time. The dealer gets to reduce his inventory very fast!
Inventory will include over 300 used motorcycles, including Road Kings, Electra-Glides, Fat Boys, Dyna’s, Heritage Classics, Ultra Classics, Softails, Harley Davidson and other makes and models, even Customs, Kawasakis and Vespas. Financing will also be available, but you need to get pre-approved. For more info, call: 800-642-3464. And if this liquidation doesn’t work as well as expected, like the one of 2 weekends ago? What do you think may happen to Rossmeyer’s Enterprises?
It feels like desperately trying to raise some emergency cash to pay the next batch of loans to keep the doors open. In one way I am happy that Bruce Rossmeyer doesn’t see his Harley empire falling apart. Sad.
This may be better than cage fighting .
Hmmm do you need a ticket to get in?
Will Willy G be there to sign autographs ?
I was going to Disney but hell this sounds like more fun.
Will they have beer on site, That always has an influance on common sense and bidding.
Haven’t seen much of this in the now-bygone era of Easy Credit- but yep, key member passes, the credit facilities aren’t gonna wait around long to see if the family can handle the business- yank the credit, pay up, sucker.
Also depends on how his estate was structured- Floridians remember the Joe Robbie story, can get pretty ugly in tax world.
As big as it is (was) not to big to fail. No bailout. So…
Sad day ,
Bruses accomplishments were beyond the immagination of many.
Seeing his dealerships struggle is a sad day
Now we wonder how Destination Daytona will fare in the near future.
Better get ’em down below wholesale and have NO RESERVE….not like the fiasco 2 weeks ago if they expect serious buyers.
Too many bikes are ripe for the picking around the country at below wholesale at the auctions! And that is where most of these bikes will end up if they are not serious about “trying to liquidate over $2 million of pre-owned bikes” as you say.
Boss Hawg
Cyril here is the advert link if you like.
http://blog.brucerossmeyer.com/2009/11/17/destination-daytona-harley-davidson-slasher-sale/
Sad weekend.
I Think Bruce was around to see His Empire starting to Crunble 1-2 Years ago. He was FLOATING ALONG ! He was so Buried and “OUT OF TRUST” that His Family is taking the steps to keep the Banks from taking over, and at least they can stick around and Grab whatever they can until a SAVIOR comes along with STUPID MONEY and wants to jump in to a CHROME, RUBBER and STEEL WHORE HOUSE ! IF not, the Banks and Investors and Banks and Investors will come and Pick up the REMAINS after all every INVESTOR and BANKERS Attorney”s Sink their SHARP TEETH into the MESS! YES BLOGGERS THIS IS WHAT IS GOING ON, I KNOW, GUARANTEED 100% OR NOBODY WILL GET THEIR MONEY BACK!!!!!!!!!!!!!!!!!!!!!
My point of view. Rossmeyer never made money with the bike biz. Lost money on most dealerships or just covering expenses. Perhaps the 1st dealership on Daytona Beach street made some good money. Bike biz was a way to accumulate hard real estate assets by borrowing against 1 dealer to buy and build new harley buildings and give them more value because of the Harley biz they housed. Destination Daytona is built on land worth very little at the time it was bought. Just cheap dirt. But, smartly, Rossmeyer created a gentrification of all the area, giving tremendous value to his buildings in a period of insane real estate appreciation. And ego blinded him. Let’s do more and more leveraging by borrowing to build and acquire more hard assets. Then the tide goes the other way at the end of 2005. Buyers of new harleys begin to default on their loans, the used bikes market is flooded by individuals in panic with their mortgages and dealers submerged with repos. Still trying to sell new bikes. Next year will be better. But no, each month is more and more difficult. Cash flow dries up every day. Trying to sell the most unprofitable dealerships. Too late, no buyers in view for a long, long time. Nobody with big money interested by the bike biz. Nobody to invest in dept store type buildings. Bankers very nervous. Rossmeyer family trying to get rid of the fat and raise some cash. Still possible or the beginning of the end? Hope not, but it sounds like it because there will be no return to the motorcycle exhuberance years (95 to 05)..
You Know, Charly Petroni, that 10 great Years as you say (95-05) are being wiped out by 3 Years (06-09) and it is not over yet ! Even the Stupid Valuable Real Estate is not even able to fetch “EVEN MONEY” ! That is what sucks !
Bruce’s “empire” may have just been a village made out of sticks. It sounds like he was able to get financing after financing deal and now it’s all about to fall apart.
I don’t know if this dealership is in trouble financially or not, but I do know that it will not help any of of you if they were to fail. Bruce Rossmeyer did more for the motorcycle business than most of you will ever know. When he bought the dealership in Daytona the rally was a lot smaller than it is today, he invested his own money and expertise to help it grow into what it is today. He was also quick to help other dealers build the rallies in their areas. Areas like Sturgis. I think it is a damn shame that you all would come on here and bad mouth this dealership by insinuating they are going broke. I would bet not one of you including Cyril has the slightest clue were this families finances are or how much they have or don’t have.
I only have one question is this a motorcycle blog or the National Inquires Blog?
You all sound like a bunch of old women talking and spreading rumors.
Maybe… Eh, real estate developers are always the richest guys in town- right up until the day they have to file Ch 7- lol. Just part of their game.
They’ve got a ton of something that isn’t selling very well-bikes. I commend them for giving some different ideas a shot. Better than just paying interest on ’em sitting around. As for everything else, we’ll find out eventually so I’m not going to guess now.
I went to the web site. I looked at 1 bike to check out what is going on.
2003 Road King pre-owned $19,995
So for $20 K you can own a 7 year old bike………or for that same price you can go buy a brand new one & chances are, depending on where you live, your dealer may sell it for less then that.
Sorry but this is part of why dealerships are in trouble. The waiting list is gone. The days of selling used bikes for more then new & selling new bikes well over the MSRP are over & gone. When every dealer has more bikes then they can unload, it’s time to get real with prices.
Hey, all the best I say. Options are few at stage of the cycle. Economy sucks and bike biz is taking it in the shorts. Wishin’ them well.
BikerMarc
Will somebody please take away Bigalyts shift key? I hope he doesn’t discover the exclamation point.
Thanks TPEvans, I guess typing is an Art, I make it a Collage! Mr. just my opinion, i have seen what Mr. Rossmeyer’s has done for the Motorcycle business, and F Y I he never used His Own Money ! And in My Opinion the Motor Cycle Business “WAS” better to Him than He was to it ! If all the Float and Donation Dollars went through my account as did his, I would have by the Grace of G-d “always remembered where I came from, and how I got there!
Bigalyts; Sorry I did not realize you was the accountant for the Rossmeyer family.
I don’t believe for a minute that you have a clue how much money he did or did not put into his dealership or any other business he had. Let us all know how he built such a large business with out putting in any money. I for one would like to know how that is done. I own a business and it always pisses me off when some know it all comes along and saying how it must be nice how the world just gives things to some people. If it is so easy why don’t you share that knowlage with the rest of us. You obviously don’t have a clue. You should worry about your own money and not his, maybe you would have some money if you did that.
Have a nice day.