Photo: Keymusic

Keymusic instruments going for a song

Musical instruments from bankrupt music chain Keymusic have gone on sale at auctioneer’s Hammertime.  The chain with stores in Antwerp, Brussels, Ghent and Temse went to the wall last year.  Music lovers are eying reductions of up to 90%.

Keymusic earlier closed stores in Hasselt, Roeselare and Sint-Niklaas and finally went bankrupt last September.  Music lovers have been looking forward to the auction of the chain’s remaining stock that finally started today for some time.  Many hope for a bargain on the purchase of a new guitar, piano or set of drums.

Some 1,500 instruments and DJ equipment have now gone on sale.  Auctioneer Steven Teughels: “The system is set up with a starting price that is 10% of the shop price.  If it’s a desirable item and people start bidding, I would guess we will reach half the shop price”.

One digital piano worth 550 euros started bidding at 25 euros.   There’s also an acoustic guitar worth 159 euros with a 16 euro starting price.  Bidders should be aware of auctioneer’s charges of 14% as well as VAT.

“Bidding isn’t an exact science” explains Teughels.  “Some people start off with a high bid to put others to fright.  Others wait till the last minute”.

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