Auction Xchange beats the bust

AN auction of items left over by companies that have gone bust will take place next week.

Auction Xchange is a new venture that was established as a direct result of the downturn.

Managing director of Auction Xchange Andrew Hamilton said the market drivers for asset disposal businesses are buoyant in recessionary periods.

“The austerity programmes introduced to tackle Irelands financial crises has translated into an ongoing cycle of less and less disposable income for consumers.

“Therefore the consumer spending boom has now been replaced by price conscious /driven bargain hunters,” he said.

According to the company buyers can source products at a fraction of retail prices and they have a facility to physically inspect the product prior to purchase.

The company acquires the stock from firms that have gone out of business. They said insolvency practitioners require asset disposal providers such as Auction Xchange to sell goods to raise funds in order to try to pay creditors.

The company will have an auction every month in Sandyford. Items include gym equipment, a table tennis table, a bed from a furniture shop gone into liquidation, or office tables and chairs from a business that moved premises.

“I want Auction Xchange to be accessible and attractive to the young modern buyer and seller,” said Mr Hamilton.

Auction Xchange will have its first auction on Tuesday, December 14, at 6.30pm in Sandyford. All lots can be viewed online at www.auctionxchange.ie.