Live webcast auctions look to raise multi-million dollar returns from GEON equipment as US-based auction house welcomes the chance to increase its international footprint.
The decision by receivers McGrathNicol to get the Great American Group to host the three GEON auctions in Victoria – during PacPrint – NSW and Queensland, has increased speculation as to the role of the local second-hand dealers in mopping up the equipment. While the local Dominion Group will handle the auction logistics the US auctioneers are targeting international buyers.
“We are pleased to be bringing such a huge offering of late model printing equipment to the market,” said Adam Alexander, president of GA Global Partners. “The response has been tremendous already attracting global interest from South Africa, Asia, Europe and the U.S. in addition to Australian buyers.”
The unprecedented sale is likely to flood the market with second-hand bindery equipment with more than 30 finishing machines, including stitchers, folders and cutters going under the hammer. Industry opinion is skeptical about the prospects of selling the fleet of presses locally, especially since the latest additions, the two XL-106s have already been shifted privately.
That leaves eight Heidelberg presses ranging from one of the first 12-colours perfectors ever brought into Australia – the 2001 Sydney-based SM102-12P7 – to a 2006 8-colour SM 102- with 180 million impressions in Melbourne. There is no impression count for the Sydney machine. In addition there is a 6-colour Komori from 2007 with 46 million impressions also in Melbourne.
In a telling comment on the state of printing technology, there is no sign of any digital presses in the auction list although GEON had HP Indigos, Fuji Xerox machines and others. It demonstrates the appetite of the industry for digital more than offset as well as the prevalence of operating leases rather than outright sale.
The live webcast auctions will be held onsite at the three facilities at 10 a.m. local time (GMT + 10) Thursday, May 23 in Melbourne, Tuesday, May 28 in Sydney and Thursday, May 30 in Brisbane, each preceded by a one day preview of assets the day prior to auction from 9:00 a.m. to 5:00 p.m. local time (GMT + 10) at each location.
The Mt. Waverly equipment is open for inspection on Wednesday, May 22 at the auction site, 181-195 Forster Road, while the Banksmeadow Sydney plant is open on Monday, May 27 at 20 Baker St. Items from the Brisbane plant can be inspected on Wednesday, May 29 at 675 Macarther Avenue Central, Eagle Farm.
A complete list of the equipment is here http://gaauction.com