SKS-FILES FORUM
General Milsurp Weapons => General C&R Information => Topic started by: Phosphorus32 on December 13, 2015, 11:23:31 PM
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http://www.bizjournals.com/southflorida/news/2015/12/09/miami-arms-dealer-files-chapter-7-liquidation.html
Worth a quick read. This'll be interesting to watch. Sounds like a business partnership gone sour. Perhaps Ghulam Dossul filed Chapter 7 in a poison pill strategy.
A bit of interesting information in the article was that Samco had a large cache of arms in a Honduran warehouse in the early 90's. Probably explains many of their past and present (well, now the present is apparently past too) South American offerings.
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Definitely sounds like he's getting back at Ronald Joseph Martin.
So I wonder what would happen if you tried to place an order with them right now? The website is still up and seeming operations are 'normal' I wouldn't trust that as far as I could throw it!
Man, I've been wanting some more 6.5 Swedish blanks to stash away for reloading on a rainy day. I guess they'll turn up somewhere one of these days....hopefully to a place that doesn't charge $65 to ship a $40 order of ammo.
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Im wondering where the inventory is going..... and what was set aside for a rainy day.
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It's telling that it's a Chapter 7 and not a Chapter 11 or 13. If the bankruptcy court allows it, Samco will cease to exist and all assets will be sold to the highest bidder.
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It's telling that it's a Chapter 7 and not a Chapter 11 or 13. If the bankruptcy court allows it, Samco will cease to exist and all assets will be sold to the highest bidder.
Sounds like he's had enough (and has enough) and is ready to pull the pin, so...
Im wondering where the inventory is going..... and what was set aside for a rainy day.
...exactly! The Bahamas aren't hard to get to from Miami :))
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Any updates here? I'm ready to make an order with them (they're offering some neat Mausers) but then I noticed this thread. It looks like they're still running.
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I called them Monday and let it ring about 15 times...nothing. I was going to order one of their Steyr Chliean Mauser short rifles but I'm not going to enter credit card info into an idle website.
Who are you again? rofl
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Yeah... Thats a tough call.
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Since they did file Chapter 7 bankruptcy, they are not supposed to be selling anything, anyway, everything should be frozen. Soon there will be several court and financial debates, all the legalese mumbo jumbo, but basically in the end, a Trustee will be appointed and all assets will be liquidated. Now, liquidation can occur only after "all" claims are filed. A Trustee will look for the quickest way to liquidate in one transaction, which means the arms/any capital will be sold to a dealer/individual who can pay the lump sum for the lot or a dealer with pockets deep enough to swallow the debt. They will not show up one at a time on Gunbroker, as reclaiming funds would be too time consuming. It is entirely possible in the future for I.O, CAI, SOG, AIM, J&G, even Numrich or Classic Arms to absorb the remnants of Samco, and sell the items. The hard part is done, the stuff is already imported. probably already stamped and ready to sell, all someone needs to do is ante up the cash to retail the stuff. Certain things can hold the process up, it could take 3 or 4 months, to 3 or 4 years, it's all in how fast the the fellas who owned it want to cooperate and how quick(it is the legal system) the proceedings go. Or, unless the Gov't swoops in and destroys them all to keep us safe. :o
LC got it on the hip, he could open LC Arms thumb1 thumb1
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I like it ! LC arms, and on the other hip how about some GMLC financing on approved credit ? chuckles1
Too bad for Samco, im going to miss trying to understand the two lady's on the phone.
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http://www.stamplerauctions.com/auction/280410/samco-global-arms-firearms/ (http://www.stamplerauctions.com/auction/280410/samco-global-arms-firearms/)
I see at least 1 pallet of Yugo SKSs
(http://i3.photobucket.com/albums/y86/bbush44/IMG_1151_large.jpg) (http://s3.photobucket.com/user/bbush44/media/IMG_1151_large.jpg.html)
I wonder how many crates of Yugo M67 are included in this.
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I merged your link into the general Samco bankruptcy topic Brian. Absolutely amazing stuff, how'd you come across the auction link?
Oh the fun I'd have if they'd let me loose in that warehouse overnight... shooting1
I bet the whole lot sells for well under a million. The acquisition cost barely comes into play when dealing with sight unseen liquidation auctions like this. There is a reason the term "the return is pennies to a dollar" is used! thumb1
We should start an SKS files pool and buy up the entire SKS inventory. I'm in for $5! chuckles1
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Wow! 15,000 Serial Numbers!? :o The photo tab is fun to look through.
Looks like there's a lot of M67. 24 crates to a pallet. A group pallet buy would be fun.
(http://i1191.photobucket.com/albums/z475/phosphorus32/Samco%20Global%20Auction%20Pic%20Ammo.jpg) (http://s1191.photobucket.com/user/phosphorus32/media/Samco%20Global%20Auction%20Pic%20Ammo.jpg.html)
Are they selling the whole kit and kaboodle as one lot? They're asking for a guaranteed $1.5M check.
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I wonder how many crates of Yugo M67 are included in this.
Ha p32 beat me to posting the photo!
I don't see tons of them. They were significantly higher ($346 before shipping) than SG Ammo ($295.00) for 1120 round crates w/ strippers.
As a side note, that place is an absolute dump. Man I'd hate to work in those conditions day in and day out, I can only imagine what the smell would do for a headache after an 8 hour shift in there.
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Wonder how many more long barrels are in thar.
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See, if I had won powerball I'd be bidding and bidding high to make sure I won. Heck, I'd even donate some stuff to this board to raffle off. Oh well, guess I shoulda bought a powerball ticket huh.
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As a side note, that place is an absolute dump. Man I'd hate to work in those conditions day in and day out, I can only imagine what the smell would do for a headache after an 8 hour shift in there.
Ah, the dense odors of Cosmoline and mold in the heat and humidity of a mid-summer Florida warehouse. Can't imagine that would be unpleasant at all rofl
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Smells like old stale Swedish meatballs smothered in Yugoslavian butt crack grease, with just a hint of swamp azz thumb1 chuckles1
Being a sealed bid auction... who knows, the whole lot may go for 10+ mil. The 1.5 mil is possibly the starting bid, usually enough to cover the pre-agreed on company debts and settlement fees. The actual debts may have been higher, but through litigation and what not, thats what the courts deemed the final tally.
The winner ends up with the whole kit an kaboodle, building, property, break room fridge, even the official Samco toilet seat and everything else owned by Samco, any storage containers, even incoming shipments, if there is any, it's not just firearms and ammo and stinky leather pieces.
I bet the ATF is watching this whole mess, real closely....circling like vultures. Or, they are crying, damn, thats going to be allot of back ground checks at once rofl2 The horror of logging all that in to my little 'ol C&R binder is terrifying. rofl rofl
Who knows what lurks in those piles of junk.. maybe even a grease wrapped solider from another time.
OMG... I wonder if the winner gets the moody mouthy crazy Cuban, Colombian, Mexican, Hatian, Puerto Rican, Guatemalan, Panamanian, what ever "an" she is lady thrown in :o
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Who knows what lurks in those piles of junk.. maybe even a grease wrapped solider from another time.
I saw a few oddballs (M1 carbine, maybe a couple of FN49s) in the complete 68 pic deck of photos besides the Yugo SKSs, the Chilean, Yugo and Swedish Mausers and the Enfield trainers.
They cite Intellectual Property in the brief description, so I would guess that would be SG's list of contacts around the Globe. That brings on visions of John Cusack in War Inc. tommy1 rofl
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I merged your link into the general Samco bankruptcy topic Brian. Absolutely amazing stuff, how'd you come across the auction link?
Oh the fun I'd have if they'd let me loose in that warehouse overnight... shooting1
I bet the whole lot sells for well under a million. The acquisition cost barely comes into play when dealing with sight unseen liquidation auctions like this. There is a reason the term "the return is pennies to a dollar" is used! thumb1
We should start an SKS files pool and buy up the entire SKS inventory. I'm in for $5! chuckles1
Not a problem Joe. Guess I should have looked a little harder if there was a relevant thread. I thought it was posted on gunboards, but now I can't find it. I pop in and out of several firearms threads throughout the day, so hard telling.
You would think with all that inventory they would have had some fire sales instead of filing bankruptcy. I guess their high prices and crappy shipping caught up with them.
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Wow! 15,000 Serial Numbers!? :o The photo tab is fun to look through.
Looks like there's a lot of M67. 24 crates to a pallet. A group pallet buy would be fun.
(http://i1191.photobucket.com/albums/z475/phosphorus32/Samco%20Global%20Auction%20Pic%20Ammo.jpg) (http://s1191.photobucket.com/user/phosphorus32/media/Samco%20Global%20Auction%20Pic%20Ammo.jpg.html)
Are they selling the whole kit and kaboodle as one lot? They're asking for a guaranteed $1.5M check.
I wonder what a group pallet buy of M67 would cost to ship? Hey LC do you go by FL? Can you pick one up for us?
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Don't work like that. Lol
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They cite Intellectual Property in the brief description, so I would guess that would be SG's list of contacts around the Globe. That brings on visions of John Cusack in War Inc. tommy1 rofl
The intellectual property is a whole mess of worms, even reaching as far as copywrites, trademarks and misc licensing. It could also involve creditors. and other ventures they had or were delving in to, even their web site is lumped in the mess.
I wonder what a group pallet buy of M67 would cost to ship? Hey LC do you go by FL? Can you pick one up for us?
Danny or PS is already in Fla, oh boys, how about a little road trip, a little sun, surf, bikinis, thongs, bullets rockon rockon thumb1 rofl
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oh boys, how about a little road trip, a little sun, surf, bikinis, thongs, bullets
old stale Swedish meatballs smothered in Yugoslavian butt crack grease, with just a hint of swamp azz
So which one is it? rofl
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Looks like they have a crap-ton of that iffy Iranian/Persian 8mm Mauser ammo leftover too:
(http://static.auctionservices.com/images/69085603/IMG_1157_large.JPG)
Amazes me that this place lasted as long as it did, must have been be an FFL accounting/inventory nightmare. :-X
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I just spent 5 hours at a range dumping as much of that Iranian crap as possible through a Mauser. It's fantastic ammo! Accurate enough to hit a jar of tannerite. When it goes off.
Samco had a couple rifles for sale that were straight up steals. They were offering, for $189, Chilean 1912 Mausers, a straight up steal. I wish I had a chance to add to the 2 I bought a few months ago. And I might!
I haven't been following the proceedings here but if the auction is in Miami then I have a place to stay down there and about $1300 to chip in for gas and perhaps an m1 carbine or two. Just pick me up.
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I was doing a bit of research on the net and ran into something interesting:
Charles Daly is a brand of Firearms licensed to Samco Global Arms, Inc. located in Miami, FL. It previously was a firearms manufacturer and importer, located in Harrisburg, Pennsylvania, in the United States.
Ok, WTF does this have with anything?
In 1996 the brand was acquired by K.B.I., Inc. of Harrisburg, Pennsylvania, which expanded the import line to include semi-auto and pump-action shotguns and 1911-style pistols and re-christened the company as Charles Daly, The Shooting Sports Specialist.
In 2008, KBI formed a new division of the company named Charles Daly Defense to manufacture and market the hugely popular AR-15 type semi-automatic carbines and rifles for law enforcement, target shooting and home defense. In a departure from the tradition of selling only imported firearms, Charles Daly Defense AR-15's were manufactured in the United States.
A letter from Michael Kassnar posted on the Charles Daly Website on January 29, 2010 indicated that Charles Daly and KBI were going out of business and closing their doors effective January 29, 2010.
So KBI (yes the KBI of both Russian SKS 45 fame and Yugo M59/66) bought the Charles Daly brand in '96 (right when the VRA was signed and Russian SKS45s were no longer importable, this was no coincidence). By 2010 both Charles Daly and KBI were run out of business. It looks like Samco acquired the Charles Daly rights sometime afterwards and has utilized it right up to their own bankruptcy:
(https://dl.dropboxusercontent.com/s/zpojrklnhksr7vx/IMG_1169_large.jpg)
Just thought it was interesting to see the progression of this piece of the puzzle.
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Weird
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Yeah, the "Charles Daly" name is listed as part of their intellectual property at the auction site.
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Found the defunct Charles Daly website via wayback. Not much left there as the images, many links, and flash content were all dead. A couple history nuggets I saved for posterity's sake:
(https://i.ibb.co/XkFWKP1/Daly1.jpg)
(https://i.ibb.co/7pQb203/Daly2.jpg)
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Finally found a S/N turn up from this liquidation!! Rumor had it that Century bought the lot and when I last talked with a CAI rep, they said they weren't sure when things were going on the market or whether they would sell them through their retail outlet or just wholesale them to other retailers. Anyhow, the box label for Yugo SKS S/N B15491 turned up (but not the rifle!! pullhair1) The RI part number is definitely Century nomenclature. The 4/30/16 date put the label being printed just over a month after the bankruptcy auction closed:
(http://image.ibb.co/jJLe6k/B15491_box.jpg)
This S/N was listed in the bankruptcy inventory listing on line 18 of this sheet:
(http://image.ibb.co/c4gxsQ/Samco_yugo_inventory.jpg)
Just thought it was neat that these guns are indeed in the wild now. thumb1
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Cool 8) I'd love to get a low number D block if it was stil in M59/66 (no A1) configuration :)
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How come only the box turned up?
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Cool 8) I'd love to get a low number D block if it was stil in M59/66 (no A1) configuration :)
What do you consider a low number?
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Cool 8) I'd love to get a low number D block if it was stil in M59/66 (no A1) configuration :)
What do you consider a low number?
The low 50k block in that list.
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How come only the box turned up?
No idea. The gun in the auction was a M59/66 with all numbers except the stock unreadable. Stock on it was 577084, which if matching would have made it an O block gun made in '78. I wish the receiver number would have been readable...might be a missing link type gun. dntknw1
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Cool 8) I'd love to get a low number D block if it was stil in M59/66 (no A1) configuration :)
What do you consider a low number?
Here is the list of true 59/66s. Mine is about 1200 older than #5....given to me by K-9 about a year and a half ago. Are these pretty obscure? I didn't read up much on Yugos...I was just happy it didn't have night sights, because...they suck even when flipped down.
What is the story with the non d 50k ones?
(http://i89.photobucket.com/albums/k214/kissvids/SKSFILES/samco5966.jpg) (http://s89.photobucket.com/user/kissvids/media/SKSFILES/samco5966.jpg.html)
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What is the story with the non d 50k ones?
I'd guess they are likely LB yugos with std. FSBs like this one:
(http://image.ibb.co/kspve5/50456_receiver.jpg)
(http://image.ibb.co/iEz0CQ/50456_right_front.jpg)
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Found another box, this time with a proper M59/66 inside it, though the stock is either mismatched or the gun S/N doesn't jive with the box (again). Samco number was E93202.
(http://image.ibb.co/mvn96k/E93202_box.jpg)
Auction at: http://www.gunbroker.com/item/610031145
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What is the story with the non d 50k ones?
I'd guess they are likely LB yugos with std. FSBs like this one:
I dunno... You would think they know a rifle without a GL when they see one. Those standard m59 FSB LBs are ramdom with one in the C block even.
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Yeah, you'd think so. There's a reason Samco went under though. Their recordkeeping is not what I'd call stellar based on what's turned up. :-[
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Saw this noted on SKSBoards. Long Barrel Yugo S/N 015 is up on Century's website (it's $1999.87 in case you can't login to see the price):
http://www.centuryarms.biz/proddetail.asp?prod=RI2882E-GI&cat=52
As you can see, it was listed as an M59 in Samco's final paperwork:
(http://image.ibb.co/nhEve5/Samco_M59_inventory.jpg)
Pretty good affirmation that CAI did indeed buy the lot at the bankruptcy proceedings.
Wow, $2k is pretty steep! :o
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Yes, CAI did indeed buy Samcos inventory to the best of my knowledge. I have a friend (Raspootyn) from another forum whose company (namely he and his partner) that were bidding on Samcos inventory but lost out. He did confirm to me monthes back that CAI was indeed the winner in the bidding for that inventory.