Over a quarter of a million pounds worth of high-tech cycling kit is to go under the hammer in a spectacular North Lincolnshire auction next week.
The equipment . . . some of the best that money can buy . . . includes bikes that retailed for over £10,000 apiece . . . parts that cost thousands . . . and a mountain of exclusive gear and clothing.
Jaws dropped at the Eddisons CJM auction room in Scunthorpe when one small box was found to contain a lightweight bike seat . . . weighing in at just two ounces . . . that came with a price tag of £407 attached.
The auction next Monday (13th May) has been ordered following the collapse of Oxford and Brighton-based Ubyk, one of the country’s poshest independent cycling retailers.
Auctioneer Paul Cooper said: “Ubyk were about as high end as a bike shop could get. Their claim to fame was that they sold some of the world’s greatest bikes in gallery-like showrooms that were designed to show off their engineering magnificence.”
“For sure their range was eye-wateringly expensive. The cycles were putting under the hammer include a couple made by an American company called Parlee that retailed in the £10,000 bracket. They’re hand built, carbon fibre, with Zipp carbon wheels, although you don’t get pedals at that price They’re extra".
“We’ve also got a Cipollini carbon monocoque frame that had a £10,000 price tag attached. Believe it or not that was just the frame. It is amazingly light, you can easily lift it with a single finger. Wheels and other stuff are extras.”
“Not all the bikes were quite that expensive of course. We have been sent quite a selection and some of them retailed for as little as £5,000.”
Paul added: “I have to say the seat did cause a lot of comment. It is featherlight, quite remarkable, but who pays £450 of their own money on a bike saddle? If I was that worried about weight I would get on a diet for a few days – but I suppose the riders who want this sort of thing have already done that!”
Asked about the reason for the company’s collapse he said: “The liquidation appears not to have been the usual modern story of a high street retailer being undercut by online competitors. Ubyk actually started as an online business and only opened the stores in Oxford and Brighton later. There have clearly been other factors in play, not least perhaps that selling bikes for £5,000 - £12,000 is not so easy.”
“The shops closed their doors without warning in December and the company went into liquidation a few weeks later. It then became necessary to vacate the premises, which is why all the stock has been moved up to our centre in Scunthorpe.
“The auction extends to 500 lots and includes complete cycles, frames, forks, wheels, parts, helmets, footwear, clothing and ancillary products. We reckon that the retail value of the kit is probably as high as £300,000.”
“It is being auctioned without reserve next week, so it makes what it makes. Auctions involving other cycle firm stock have seen complete cycles making half to two thirds of retail value, with equipment and parts going for 10%-50%, so if that is repeated successful bidders could make some substantial savings.”
The full auction catalogue is available at www.eddisonscjm.com. The viewing sessions are on Friday 10th February (1pm-4.00pm) and on Monday 13th (10am-11.45am) at the Auction Centre on Dunlop Way in Scunthorpe. The online auction is scheduled to end at Noon on Monday 13th.
For further information or comment please contact Paul Cooper at Eddisons CJM on 01724-334411 or 07970-126339 (firstname.lastname@example.org.)