As we embrace the digital era, online auctions have become an integral part of purchasing industrial equipment and machinery. They offer convenience, variety, and often, competitive prices. However, this growing digital marketplace has also seen a rise in fraudulent activities. At Surplus Record, we are committed to fostering a secure and trustworthy environment for our users. That's why we've put together this guide. We'll walk you through essential precautions and strategies to ensure your online auction experience is not just successful, but also safe. Whether you're a seasoned bidder or just beginning your journey into online auctions, this guide will empower you with the knowledge to bid with confidence and security. Identifying Reputable Online Auction Platforms In the vast digital sea of online auction … [Read more...] about Screening Online Auctions and How to Spot Red Flags
Industry News
Is the August PMI Decline Cause for Concern?
For the first time in nearly three years, the PMI (manufacturing index) registered in negative territory, declining to 49.1 for August 2019. This represents a decline of 2.1 points (or percentage points as ISM reports) from the July report. For those not familiar with the ISM indexes, manufacturing (PMI) and non-manufacturing, a number above 50 indicates economic growth within the sector, whereas a number under 50 indicates contraction. This reported number may (or may not) be cause for concern. But it is important to put this information in context. In this regard, ISM indexes are a composite index of underlying components. These individual elements are also measured on the same scale. According to ISM spokesman and chair of the Manufacturing Business Survey Committee for ISM, Timothy Fiore, “the New Orders Index registered 47.2%, a … [Read more...] about Is the August PMI Decline Cause for Concern?
Hybrids Are Hot!
You’ll notice the special new shiny cover the SR Catalog received this month! This is in celebration of the upcoming 100th year of Surplus Record printed catalogs, as we move forward into 2024. Our actual 100-year anniversary is in November 2024, so keep an eye out for a special edition that month! While we generally focus on a variety of topics, this edition takes a special look at a rapidly evolving sector in the automotive industry. This month, we turn our attention to a technology that many had written off in recent years but is now surging: hybrid vehicles. Remember the humble first-generation Toyota Prius? Originally driven primarily by environmental enthusiasts and tech- geeks (apologies for the generalization), the Toyota Prius ushered in a new era of hybrid drivetrains featuring gas and electric capabilities. Today’s market … [Read more...] about Hybrids Are Hot!
Tesla Channels Henry Ford’s Pricing (and Supply Chain) Strategies
We were driving in a caravan to a friend’s dock the other day on a beautiful late-summer Midwestern day. The line of cars winding through the back coastal roads near Lake Michigan was notable not for our vehicle (a V8 truck) but for what was absent: a Tesla. All four other cars in our group were Tesla Model Xs, all of which had been purchased in recent months by friends who previously drove a mix of fully loaded GMCs, Suburbans, Expeditions, and other similar vehicles. This proves that Tesla’s ingenious pricing strategy is working. On January 1 of this year, a Tesla Model X (the three-row SUV) cost $120,990. The exact same car in September was priced at $79,990. Comparable gas or electric top-end large SUVs from Ford, GM, BMW, Mercedes, and others still cost $100K and up. That's a roughly 34% price drop, for those keeping score. … [Read more...] about Tesla Channels Henry Ford’s Pricing (and Supply Chain) Strategies
China’s Economic Slump: Yes, It Impacts U.S. Manufacturers
In the past, when CEOs mentioned China in earnings reports in a negative manner, it typically centered on supply chain issues such as delayed shipments, quality concerns, counterfeit or substitute materials, increased pricing or related “procurement” considerations. No longer. Despite the debate around trade deficits, IP transference and market economy considerations, China has become increasingly important from a top line perspective as well. And stagnation in segments of the Chinese economy have now impacted the top line of western manufacturers as well, creating a material impact on revenue and earnings. Consider Apple, a Fortune 5 manufacturer, as a case in point. When Apple’s CEO, Tim Cook, writes a letter to shareholders blaming Apple’s overall revenue/earnings slowdown on China as he did in early January, it is worth paying … [Read more...] about China’s Economic Slump: Yes, It Impacts U.S. Manufacturers
