I Heart Engineering Announces Inventory Auction
In order to focus on its core TurtleBot business, I Heart Engineering is auctioning research and excess product inventory
BROOKLYN, NY — Today I Heart Engineering, Inc. announced its excess inventory auction. I Heart Engineering management has decided that in order to focus on its core business of manufacturing the leading open source robotics research platform, the TurtleBot, the company will no longer sell tools, miscellaneous electronics, and other robot parts and kits. The company intends to focus on its core competency, the TurtleBot.
The company also has a great deal of research inventory that it is auctioning. I Heart Engineering and Falkor Systems have performed cutting edge research in the areas of digital manufacturing, open source flying robots, and three dimensional mapping. The company has a valuable trove of electronics parts, flying robots, flying robot parts, autopilots, cameras, tools. These parts are also being auctioned in the inventory auction.
The I Heart Engineering inventory auction will be a “declining price auction,” also known as a “reverse auction”. In this form of auction the price of each product available is reduced by a fixed percentage (approximately 1%) every hour. Every day will see each product’s price lowered by almost twenty percent. If a buyer sees a product that they want, but the listed price is too high, they need only wait a little while before they can see the price reduced to a price that they are willing to pay. Waiting, of course, subjects them to the risk that someone else will have already bought the product listed, and it will not be available at the lower price they wanted to pay.
I Heart Engineering intends to complete the declining price auction on October 31st. By that date, all products made available for sale during the auction will be available for 1% of their original sales price. After that date everything not yet sold will be donated to charity.
All products available for auction will be listed on this link:http://www.iheartengineering.com/auction.html
Not everything I Heart Engineering has for sale is listed on the auction. I Heart Engineering simply has too much research inventory and tools, and they were not able to catalog everything in time for the on-line auction. Therefore they are going to also hold an open house sale in tandem with the auction. During business hours, from 9-5 M-F, from October 14th to October 30th, everything at 34 35th St, Suite 215, Brooklyn, NY 11232 will be available for sale. The company has relocated operations to Suite 211, so everything in Suite 215 must be sold by October 30th. Tools, storage bins, desks, shelves, racks, gas tanks, and more will all be available, and the community is welcome to come visit the open house and make them an offer on anything. Please call before visiting the open house: +1 212 202 0714, and when you arrive, please first inquire with I Heart Engineering staff in Suite 211.
For a sampling of what will be available during the open house, take a look at these pictures:
About I Heart Engineering
I Heart Engineering is an Open Source Research and Manufacturing company based in Brooklyn, NY. Since being founded in 2010, I Heart Engineering has been focused on shipping innovative robot products for the academic and hobbyist markets while developing infrastructure for a future of personal robotics where everyone owns a robot.