An online auction has sold off the complete catalogue of assets from failed Canberra printer Paragon, which collapsed in December owing $3 million and leaving more than 50 staff out of work.
Auction house Graysonline does not reveal auction results but heavy demand was reported from both local and international buyers, with some items attracting up to 180 bids.
‘Bidding on everything was very lively, going past the 4pm close into what's called the 'going going gone period,' said one online observer. “If a bid is received at, say 4pm, counter-bids can be paced for 10 mins. If a counter-bid is made, another 10 min extension and so on until it's last man standing. It's been very busy.”
Two big Heidleberg presses - the 2005 Heidelberg SM102P-10-colour and a Heidelberg XL105-6 colour plus coater - will head off overseas, for undisclosed sums. Other sales included $27,000 for a former Paragon truck, $19,000 for a Stahl folding line and $3,800 for a Heidelberg cylinder.