Sound by Singer to close!

Explains the firesale.

If he's liquidating it's unlikely he'll come back.

I called them last Wednesday to order a V-dac and they told me they are closing down.  It's unfortunate because it seems like they offer some good deals. 

Quote:

Originally Posted by mshan 

V DAC v8 listed at $179 on their website:  http://www.soundbysinger.com/index.php?doc_id=387

 

(don't know when the list was last updated, though)

They don't have it anymore, it's been sold long ago they just haven't updated their list
 

Unfortunately hard times hit Andy Singer with this economy. The cost of operating two channel stores is very high. The internet has changed the way even audiophiles and hobbyist purchase goods. I use to go to all the high end shops until about 1995. Very rarely do I visit shops anymore. I make decisions on reviews and most everything I purchase has a 30 day return policy. More and more of these boutiques will go by the wayside.

Quote:

Originally Posted by Frank I 

Very rarely do I visit shops anymore. I make decisions on reviews and most everything I purchase has a 30 day return policy. More and more of these boutiques will go by the wayside.

Same here. If I go to a shop at all, its because I'm already in the area and its something to do. I'll take a look around, and maybe talk shop with a salesman if he isn't busy (usually isn't). It might be a reasonable process to visit a few high-end stores if you live in NYC, but what if you live in a typical suburb? You may have to drive 200 miles to get to the nearest shop that carries 5 brands and is open maybe 20 hours a week by appointment. Want to hear a 6th brand? Oh, that'll be 200 miles in the other direction. Why is this considered some great thing that must be preserved from the evil internet? 
 

Although I am saddened that another high-end shop will close, I cannot say that I am all that broken-up about this particular store closing.  I stopped in a few years back while visiting NYC.  I have never been treated so rudely.  Perhaps they immediately discounted me due to the clothes I was wearing (jeans and a t-shirt), apparent age, or whatever, but I received the cold shoulder the whole time, and the pompous "you don't belong in a store selling THIS nice of equipment" attitude.

Needless to say, I took my business somewhere else.

I'm not a fan of Andy Singer, he had a reputation in the business as being a PIA to deal with. That means that he was a shrewd businessman. His store was and is still successful. I believe that due to health issues and that he is getting to the age where he has probably been thinking about retiring anyway he is using "Loosing the Lease" as an excuse to close the business.

He had probably been looking for someone to buy the business, but since Sound by Singer was built as and has been run as a Personality Driven Business it makes it a tough sell. The Demo inventory at cost had to be close to a couple of million easy, based on Demo, Inventory and Sales the business should have been able to sell for (My Guesstimate) in  the neighborhood of 12-15 Million Dollars. The problem is that since it is a Personality Driven business (and Andy wouldn't come with the store) the future sales and viability become questionable, so in this economy it becomes difficult to find an outside buyer. So Andy's other options are to Retire and let someone run the business for him, but Andy is such a micro-manager that this would never work, or for Andy to provide financing for one or several of his Employees to purchase the store (Because he sure as hell didn't pay them enough for them to actually afford buying the store). However without Andy there the stores future viability becomes questionable. Hell he just might not want to sell the store because he doesn't want anyone else running his baby. So in the end Andy probably just decided to cash in and retire.

All just conjecture, but I've seen the exact same scenario play out the same way before.

I agree, minimus, but a lot of people were blindsided by this recession/depression.  A lot of discretionary spending came from home equity and seemingly secure jobs.  Not everyone saw the trainwreck coming and were probably pulling out some money while thinking they were secure.  So I don't entirely fault those who are selling stuff.

And, yeah, it is amazing what's out there right now.  Deals that would have disappeared in hours are now lingering for weeks.  I've picked up a handful of things lately for two reasons.  First, the prices are good.  Second, I think a lot of specialty gear is going to disappear over the next five years.  Discretionary spending is gone.  Lots of restaurants are disappearing and ominous signs all over.  Audiogon, like you mentioned, is full of unsold gear at great prices.  I collect fountain pens, and the convention I went to earlier this year had attendance over 50% off previous years.  My family usually takes the kids to a dude ranch in the summers - it used to be hard to book reservations at the popular ones, but they've gone to nearly empty ranches the past two years.  A cousin does amateur car racing.  I usually go to the races and the attendance/participation is off by at least 50% from past years.

I've seen a few recessions, but this one is different.  It's like someone turned off the tap.

The only audio companies that are going to survive will be ones with low overhead and a lot of flexibility.  Audio might become not much more than a lot of cottage industries within a few years.

Erik makes very valid points. I believe the worst is yet to come. Unless banks start to loosten up on their lending and oil company price fixing needs to stop. The average Joe is getting hammered with the fuel increase and food prices have skyrocketed because of it. The middle income is struggling big time to maintain their lifestyle and even the people with money are also struggling as they were hammered in investments. I am afraid there is a deep recession yet to follow. This is the worst I seen in 30 yrs. Even in the 70's with 21 percent interest rates people were still buying> NO more I also believe with the aging of the high end market 2 channel audio is really dying. There will be PC audio in the future.

Quote:

Originally Posted by Frank I 

 I also believe with the aging of the high end market 2 channel audio is really dying. There will be PC audio in the future.

Is 2 channel dying? I don't think so at all. Technically, millions of people listening to their iPods everyday are 2 channel listeners. It feels to me that several years ago when DVDs and Dolby Digital became popular, everyone was telling you to get a home theater. Electronics stores were pushing home theater really hard, and at the launch of SACD and DVD-A, surround music was in, and "old fashioned" stereo was dead. Didn't happen. SACD and DVD-A died instead, and they took surround music with them. The FLAC format has the ability to support at least 5.1 channels of 24/96 audio, so stores like HDTracks could offer DVD-A type releases without the disc in multichannel FLAC if they wanted to. They aren't, because no one is interested.

In my opinion the future of music at home is good old 2 channel, but not from the CD. It will be an iPod and a Wadia iTransport, a network music player or streamer, a fully integrated music server, or a computer. Audio companies that recognize this shift and are adapting like Linn, Naim, and Bryston will be fine. Companies that are still relying on hyper expensive CD players might be in trouble.

Coming back this Fall!!!!!!

Ok, so I am NOT a HUGE fan of all the employees, I have run into quite a few that were really great. I have to admit I was REALLY sad to see this store close since I lived 1/2 block away (blessing and curse!)

Anywhoo, I just noticed they are re-opening!

http://www.soundbysinger.com/images/sbs-ad3.png

Cool, I guess but I really dislike going above 23rd street!!!

242 West 27th St, New York, NY 10001
info@soundbysinger.com