By Claire Reilly
Following the collapse of Retravision Southern, the Australian online retail and auction company GraysOnline has announced a fire sale of stock from three Retravision stores under administration, with prices on all items starting at $9.
The online site will host a series of unreserved auctions on more than 8,000 items with a retail value totalling approximately $1 million. The auctions will be held daily over two weeks, starting this Friday, with items grouped into relevant product categories and 100-150 lots closing each day.
Roughly 35 per cent of stock will have a nation-wide delivery option, though larger items will need to be picked up from the GraysOnline warehouse in Cheltenham, Victoria.
Products vary from smaller items such as notebooks, phones, cameras and audio products up to much larger items such as televisions, dishwashers, washing machines, fridges, ovens and cooktops. Regardless of the size or RRP of the individual items, each product will begin with a sale price of $9.
The site has provided a list of brands that will be on sale including Samsung, Sony, Sharp, Panasonic, Fisher & Paykel, Haier, Omega, Dyson, Kelvinator, Whirlpool, Euromaid, Breville, Sunbeam and Canon.
The sale comes after chartered accountants Rodgers Reidy were appointed as administrators over three Victorian Retravision stores 2 months ago: Retravision Mildura (appointed 23 June), O’Connells Retravision in Narre Warren (25 June) and Chirnside Park Retravision (28 June).
According to Therese Tarlinton, PR, social media and communications manager for GraysOnline, the auctions will be open to both trade and private buyers.
“Now more than any other time, small retailers are looking for ways to acquire stock at the lowest price to remain competitive in the marketplace,” she said.
“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.
“An individual can say, ‘I only want one phone and I’m willing to pay up to $50 for it’ – and, like eBay, you can put your maximum bid. Or, if you’re a trade buyer you can say, ‘I want all 100 items and I know that I can get this much for it, so I’m willing to go up to $70 per unit’.
“It’s an opportunity when retail is doing it pretty tough, and other retailers buying that stock can buy it at pretty inexpensive prices.”
According to Tarlinton, there is nothing to prevent from individual private buyers from purchasing stock at a low price and then on-selling for a higher price. However, she said that suppliers should not be concerned about products going online or to the grey market.
“The product isn’t owned by the supplier anymore, so basically the receiver is owed the money and it’s then not up to the suppliers – it’s about getting money back.”