Master Pawn, LLC.
139 East Main Street, Horse Cave, KY
FIREARMS, AMMUNITION, AND ACCESSORIES
RETAIL AND DISTRIBUTION BUSINESS AND PAWN ACCOUNTS
TURN KEY BUSINESS INVESTMENT OPPORTUNITY WITH OVER 3,500 GUNS & 1 MILLION DOLLARS OF AMMO, ACCESSORIES, PAWN LOANS AND LAYAWAYS. ALSO INCLUDED WITH THE SALE OF MASTER PAWN,LLC., IS THE FEE FOR, AND MASTER PAWN'S RIGHTS TO A GEOGRAPHICALLY LIMITED MEMBERSHIP WITH WORLDWIDE DISTRIBUTORS BUYING GROUP (BASED ON ACCEPTABLE APPLICATION AND W/APPROVED CREDIT), DISTRIBUTION RIGHTS FOR BENCHMADE KNIVES, POPULAR CLOTHING LINES, AND THE AREAS ONLY AUTHORIZED SERVICE CENTER FOR RAMBO E-BIKES.
Offering Memorandum:
Thomas R Hunt Auctioneers is honored to offer, via competitive bidding, the TURN KEY purchase of Master Pawn, LLC. This is NOT a liquidation, but an opportunity to acquire, the operating LLC, including inventory, equipment, pawn loans, and intangibles, of a highly profitable business in a thriving market. Daily operations will continue under current ownership until the day of settlement. Current inventories for firearms, ammo/accessories, clothing, outstanding pawn loans, and layaways are available under the Documents tab for Bidders to review. An updated inventory will be posted the day bidding opens. Final purchase price and Bill of Sale will include the high bid on Master Pawn, LLC., including its operating assets, plus the costs of total inventories as of the day of settlement, plus a 7% Buyer's Premium added to the total.
A final inventory will be determined from a two-party inventory audit(if requested by the Winning bidder), with additions and subtractions to inventories made at cost of new arrivals and Costs of Goods Sold in any sales made after the final published inventory and before settlement. Items in layaway are in a separate inventory, included under the Documents tab. The Winning Bidder will be credited any payments made toward these layaways at time of settlement, in effect paying only the net balance. Management Report Summary's will be available to qualified bidder executing a Non-Disclosure Agreement.
Total Inventory Costs as of Sept 4th, 2023 (START OF BIDDING): $2,036,381.65.
The current 11,000+/- sf physical location, 139 E. Main St., is under common ownership with Master Pawn, LLC., and will be made available to the winning bidder in the form of a 2 year lease, with option to renew. See attached under Documents. Should the winning bidder choose not to lease or purchase the current location, the property shall be deed restricted from the sale of firearms and ammo for a period of five years from the date of settlement or five years from the last date of occupancy by the winning bidder.
The owner/shareholders of Master Pawn, LLC will enter into a Non-Compete Agreement with the winning bidder. This agreement will remain in effect for a period of 5 years. See attached under Documents.
Thomas R. Hunt Auctioneers has made every effort to provide accurate information relative to this offering. Any sale involving intangibles and goodwill, such as those between customer and retailer, and retailer and vendors, are always subjective and loosely defined. Prospective Bidders should plan to make inspections and do their due diligence in order to make informed decisions. The only adjustments will be on inventory fluctuations due to sales, deliveries, and discrepancies between the provided inventory and actual counts.
Please call Auctioneer Jeff Harned (270.590.2332) or email at [email protected] for more information and to make an appointment for a site visit.
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A 7 % BUYER'S PREMIUM WILL BE ADDED TO THE HIGH BID OF THE LLC, PLUS ALL INVENTORIES TO DETERMINE THE FINAL SETTLEMENT PRICE.
A $50,000 DEPOSIT IS REQUIRED TO REGISTER TO BID. ALL REGISTRATIONS MUST BE APPROVED IN ADVANCE BY THOMAS R HUNT AUCTIONEERS. THE WINNING BIDDER WILL PLACE AN ADDITIONAL $200,000 DEPOSIT IN THE ESCROW ACCOUNT OF THOMAS R. HUNT AUCTIONEERS WITHIN 48 HOURS OF COMPLETION OF THE AUCTION. FINAL SETTLEMENT TO BE WITHIN 15 DAYS OF CLOSE OF AUCTION. PLEASE CALL ROB MATHEWS AT (270)-893-8499 TO MAKE ARRANGEMENTS FOR APPROVAL AND DEPOSIT.
TERMS AND CONDITIONS
BUYER’S PREMIUM FOR MASTER PAWN, LLC AND ALL INVENTORIES: By Bidding, I understand that I am bidding on Master Pawn, LLC plus the Buyer's Premium of 7% of the winning bid. I also agree to purchase at cost plus the Buyer’s Premium, all of the inventory of Master Pawn, LLC. Current cost basis $2,036,381.65 plus Buyer’s Premium (7% of the current cost basis).
Do NOT bid if you do not fully understand the terms and conditions of this auction.
If you have questions please contact Jeff Harned at (270) 590-2332.
BUYER’S PREMIUM FOR MASTER PAWN, LLC AND ALL INVENTORIES:
PROPERTY IS OFFERED SUBJECT TO THE SPECIFIC TERMS AND CONDITIONS OUTLINED IN THIS DOCUMENT. PLEASE READ AND REVIEW THIS DOCUMENT THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ THESE TERMS & CONDITIONS, DO NOT BID.
TERMS AND PAYMENT: Cash, in-state check (with proper ID), or wire transfer is required for registration and for the deposit made by the Winning Bidder. A 3% convenience fee will be added to the total invoice if a credit of debit card is used for payment. Failure to provide a valid credit card number or to make a timely correction to incorrect information may result in bidders being forbidden from bidding at future auctions with this company and all companies in the MarkNet Alliance.
POSSESSION: Successful bidders must pick up the items purchased at the designated location within the time frame specified in the auction advertising. Failure to do so may result in the property be declared abandoned and title reverting to the owner, a service charge will also be applied.
BIDDER VERIFICATION: The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Thomas R. Hunt Auctioneers, Inc will reject the registration, and bidding activity will be terminated. The Seller and Thomas R. Hunt Auctioneers, Inc. reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local, state, and federal laws. Violations will result in termination of website user privileges.
NEW DATA, CORRECTIONS AND CHANGES: Please check for updated information prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.
AUCTION END TIMES: Thomas R. Hunt Auctioneers, Inc., online auctions are timed events and all bidding will close at a specified time. Thomas R. Hunt Auctioneers, Inc online auctions also have an auto extend feature. Any bid placed in the final 5 minutes of an auction will automatically extend the end time for a period of 5 minutes from the time the bid was placed. Example: if an auction scheduled to close at 6:00 receives a bid at 5:59, the close time will automatically extend to 6:05. The auto-extend feature remains active until no further bids are received within a 5 minute time frame.
REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES OF THE BIDDING
SERVER, SOFTWARE , AND TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Thomas R. Hunt Auctioneers, Inc reserves the right to extend bidding, continue the bidding, or close the bidding.
NEITHER THE COMPANY PROVIDING THE SOFTWARE nor THOMAS R. HUNT AUCTIONEERS, INC. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed reasonable by Thomas R. Hunt Auctioneers, Inc
This online only auction is a CASH SALE not contingent on or subject to financing, appraisal, or further inspections of any kind, as agreed to by bidders at registration prior to bidding . Bidders are encouraged to perform on-site inspections of the property prior to bidding. However, failure to do so in no way relieves the buyer of any of the terms or conditions set forth here.
DISCLAIMER: Absence of Warranties: All information contained in this information packet and all related materials are subject to the terms and conditions outlined in this agreement. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation either expressed or implied, concerning the property is made by the Seller or Thomas R. Hunt Auctioneers, Inc Agents or Representatives. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in the brochure and on the website is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller, Thomas R. Hunt Auctioneers, Inc. Agents or Representatives. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. All decisions of Thomas R. Hunt Auctioneers, Inc. are final. By bidding on the property, buyer agrees to all terms and conditions set forth.
AUCTIONEERBROKERSELLER DISCLAIMER: The information contained herein is believed to be correct to the best of the auctioneer’s knowledge. The information is being provided for the bidder’s convenience and it is the bidder’s responsibility to determine the information contained herein is accurate and complete. The property is selling in its ‘as-is’ condition with no warranties expressed or implied.
AUCTION BIDDER DEFAULT: Any dispute between Thomas R. Hunt Auctioneers, Inc its Agents or Representatives and the Buyer(s) will be submitted to arbitration in Warren County, Kentucky. By bidding on the property, buyer agrees to all terms and conditions set forth.
AGENCY: Thomas R. Hunt Auctioneers, Inc. Agents and Representatives are agents of the Seller. Buyer andor Bidder agrees to hold harmless and indemnify Thomas R. Hunt Auctioneers, Inc and its Agents and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc.
For additional information, contact Thomas R. Hunt Auctioneers, Inc at 1-270-782-2299.