What happened to Grays Online?
Grays Online, Australia’s biggest online liquidator and onetime tech clearing house, is itself now on the block for a fire sale, after a $130 million impairment at beleaguered owner, motor finance play Eclipx Group triggered a senior management clean out.
Who bought GraysOnline?
The Quadrant Growth Fund
The Quadrant Growth Fund (“Quadrant”) has entered into an agreement to acquire the GraysOnline (“Grays”) and AreYouSelling businesses from Eclipx Corporation Limited (“Eclipx”) for a price of $60 million.
How does Gray’s auction work?
Grays Autobid system compares your bid to other bidders and increases your bid by increments up to your maximum bid amount if necessary to win the auction. If someone bids higher than your maximum amount, you will receive an email indicating that you have been outbid.
How do I pay my grays auction?
How do I pay?
- Grays accepts PayPal and all major credit cards – Visa, Mastercard, Diners and American Express for payment of Sale and Buy Now invoices.
- When the invoice is under $10,000, payment is taken from the nominated payment method within 24 hours of the sale closing.
Can you cancel a bid on Graysonline?
Can I withdraw or reverse a bid? No, once you have made a live bid you are required by law to honour that bid. This protects the integrity of the online auction process. So please make sure that you are committed before placing a bid.
What is Gray’s protect?
DAVID GRAYS Stress Protector will help plants survive harsh conditions at both ends of the spectrum: heat and frosts. Stress Protector protects your plants from heat, water loss, drying winds, sunburn, droughts, frost and transplant shock.
Where are grays online based?
Grays provides full national coverage across Australia and New Zealand with main offices in Sydney, Melbourne, Adelaide, Brisbane, Darwin, Perth and Wagga Wagga, covering approximately 50,000 sqm of warehouse space, 160,000 sqm of yard space and other additional smaller sites and regional depots.
Who started GraysOnline?
GraysOnline was originally owned by management including the likes of CEO, Cameron Poolman, and senior executive Adam Scharer.
What is the best way to bid at an auction?
- #1: Do Your Homework Before You Bid. Before you show up to the auction, preview the items.
- #2: Give Yourself a Pre-Set Limit.
- #3: Get There Early (and Sit Wherever You Want)
- #4: Bid Quickly, and Counter-Bid Quickly.
- #5: Be Aware of Absentee Bids.
How do I pay my Greys bill online?
Payment & Delivery
- Grays Online accepts PayPal and all major credit cards – Visa, Mastercard, Diners and American Express for payment of Sale and Buy Now invoices.
- For existing Grays customers you can log in to your My Grays account and update your selected payment method to default to PayPal for future purchases.
What happens if reserve not met on GREY’s?
Once bidding meets or exceeds the reserve price the “Reserve not met” label will be removed, and at the end of the sale, the highest bid for each item(s) will win the asset. If the reserve price has not been met when the sale closes, the vendor will be informed of the highest bid made.
What does bid to win mean?
Winning Bid means the highest bid received and accepted for Property put up at the Auction. “Winning Bidder” means the Bidder who is recognized by Auctioneer as having made the Winning Bid.
What is a buyer’s premium at auction?
What is a buyer’s premium? The buyer’s premium is a percentage additional charge on the hammer price of the lot that is paid by the winning bidder. On Proxibid, the buyer’s premium is set by the seller, and can vary from sale to sale depending on the inventory up for bid.
Who is the CEO of grays online?
Chris Corbin –
Chris Corbin – Chief Executive Officer – Grays | LinkedIn.
Is it better to bid early or late in an auction?
All we can do in this regard is to urge you to place your bids early.” “There are inherent risks in sniping. If you wait too long to bid, the auction could close before your bid is processed. If your maximum doesn’t beat the current high bidder, you won’t have a second chance to up the ante.
What is a snipe rule?
A sniper rule is very important in an auction. A sniper rule means that no matter when the auction is supposed to end, if a bid is put in before the end of the auction, the auction will be extended with the time that was mentioned with the sniper rule.
Can I sell to highest bidder if reserve not met?
A reserve price is a minimum price that a seller would be willing to accept from a buyer. In an auction, the seller is not typically required to disclose the reserve price to potential buyers. If the reserve price is not met, the seller is not required to sell the item, even to the highest bidder.
What is the best strategy for bidding at an auction?
Especially if you have an item you really want, these tips can help you win.
- Know Your Maximum Bid Before You Start.
- Don’t Get Emotionally Invested.
- Be Ready to Watch Your Bid.
- Consider Proxy Bidding.
- Choose Shorter Auctions.
- Bid at Times Everyone Is Busy.
- Bid an Odd Amount.
- Wait Until the End to Bid.
What percentage do auctioneers take?
When you sell your house at auction, you should expect to pay your auctioneer around 2.5% of the price you get for the property and you also need to find out if there will be any advertising costs.
Why are auction fees so high?
So why are property auction fees so high? Property auctions offer a faster and more convenient way to sell compared with going through an estate agent. They also give you a much higher likelihood of success. It’s normal to expect to pay a higher price for better results, so a higher price is justified.
What is the 15 minute rule in bidding?
In this mode, the listing is automatically extended until no bids have been placed within 15 minutes. When 15 minutes have passed with no bidding activity, the listing ends. The purpose for the 15 Minute Rule is to prevent sniping and offer all users the opportunity to bid.
What is popcorn bidding?
Popcorn or dynamic bidding automatically extends the scheduled closing time for an auction item. For these items bidding is usually extended another 10 minutes after a bid is placed. Each subsequent bid resets the clock to allow bids to be made for another 10 minutes.
What happens if highest bidder doesn’t pay?
If the buyer does not pay, the seller receives an email that Final Value Fees will be credited back to their account. After a certain number of unpaid item strikes, the buyer is removed from eBay. It is really important that all sellers file unpaid item cases against buyers who don’t pay.
What is the lowest price in an auction called?
The Four Basic Auction Types
In it, the auctioneer opens the bidding at a reserve price (which may be zero), the lowest price he is willing to accept for the item.
How much should you bid in an auction?
Determine the fair market value
You should set the starting price below fair market value to show your guests the potential for a great deal. Setting the starting bid around 25-30% of the fair market value gives bidders the chance to win the item well below market value.