Thrifty businesses pick up equipment at bargain prices in liquidation auction

LEATHER reception couches, executive board room tables, office desks and fax machines are among the items start-up businesses are scooping up from firms in liquidation.

Auction Xchange said that a tax consultancy company, creche, hotel and language school are just some of the businesses that benefited from the latest office furniture and equipment auction that took place in Sandyford, Dublin.

They said 55% of the office furniture and 90% of the technology for sale at auction comes from previously cash rich companies, who have gone into receivership or liquidation, with the remainder being clearance stock from medium and large sized companies, looking for a return on high quality disposal stock.

The first six months of this year there was an 11% increase in insolvencies when compared to the same period last year. The number of company start-ups in the first half of 2011 was slightly above the levels experienced during the same period in recent years.

Managing director of Auction Xchange Andrew Hamilton said: “With set-up funding being tighter than ever in these recessionary times, entrepreneurs are looking for ways to make their money go further.

“Our auctions are the ideal place to facilitate your businesses growth or get a new business off the ground, by providing the opportunity to equip your business with computers and printers and furnish your office at a bargain.”

Mr Hamilton previously worked as the managing director of the franchised motor dealership Victor Motors in Goatstown, which he completed the trade sale of in 2006. He established Auction Xchange in 2010 in response to the demand for asset disposal services.