$1m of cut-price Retravision stock up for auction
- 02 August, 2012 10:30
8,000 TVs, ovens, dishwashers and other appliances from three Retravision stores in receivership will go on auction online from tomorrow.
Retravision Southern announced that it was being placed into administration in May, and the future of already-purchased stock has since been uncertain.
The company announced its liquidation on Monday, with all remaining assets to be sold to recover debts of more than $30million. Australian online auction site GraysOnline will handle the stock, with no reserves and minimum bids of $9 on all items.
The stock is estimated to be worth around $1million, and includes cameras, notebooks, mobile phones, printers, televisions, home theatre systems and other appliances.
Auctions start from Friday 3 August, with the entire sell-off process expected to take around two weeks with 100-150 items auctioned each day. The stock will be organised into categories, with similar products like TVs and DVD players expected to be offered up for auction in the one sale.
Around 35% of the items — likely smaller personal care items, notebooks, cameras and gadgets — will be offered with postage around Australia, while larger items will be pickup-only from the GraysOnline warehouse in Cheltenham, Victoria.
Communications manager for GraysOnline, Therese Tarlington, said in a media release that the stock would appeal to retailers as well as individual consumers: "This is an opportunity for trade buyers to secure some leading brands at discounted prices and since all the items are starting at $9; a chance for savvy home owners to upgrade their white goods, home entertainment or IT equipment."
Full details of the 14-day-long sell-off can be found at www.graysonline.com/retravision.
GoodGearGuide has contacted GraysOnline for further comment.