15th Dec 2016

The Challenge

Gregsons were requested to conduct a major event online auction on behalf of the Liquidators to dispose of all assets belonging to Infratech Pty Ltd (In Liquidation) prior to the Christmas period 2016. Gregsons provided an effective Asset Realisation Proposal to the Liquidators outlining the complete strategy and process to complete the auction and collection prior to Christmas.

The Solution

Under instructions from the Liquidators Gregsons conducted three (3) major event online auctions over the course of one day on Thursday 15 December for the assets belonging to Infratech Pty Ltd (In Liquidation).

The event consisted of three (3) online auctions being held at 10am, 12 noon and 2pm with the assets being sold from the Companies premises in Libra Lake and Gregsons premises in Welshpool and Melbourne. The event had huge participation with active bidder numbers in each auction as follows

– Liquidators Civil & Vehicles Auction (1 of 3) – 111 participating bidders

– Liquidators Tools & Machinery Auction (2 of 3) – 184 participating bidders

– Liquidators Office & Computing Auction (3 of 3) – 73 participating bidders

The major assets included a number of Caterpillar Challenger Tractors which were well received by the WA farming community resulting in very strong bidding.

The Client Benefits

The Liquidators achieved a 95% clearance rate of assets on the day with a small number of unsold assets transported to our Welshpool premises for re-auction early 2017. The auction result was above our initial estimations providing a very positive outcome for the Liquidators and Creditors.