Phones4U begins liquidating iPad and iPhone stock

[Larry-G]

Earlier in 2014, the UK-based retailer Phones4U announced that it was entering administration, the United Kingdom’s equivalent to bankruptcy, and as a result had to cancel all of its iPhone 6 and iPhone 6 Plus preorders.


As that process continues, it has been announced that all of the current stock from Phones4U is going to be sold off at auction. Among the products are plenty of Apple-branded goods, including a range of iPhones and iPads, as well as Beats headphones. As Phones4U liquidates its products, they are marked with cheaper price tags in an effort to move all of the stock as quickly as possible.


The UK-based auction house John Pye Auctions is handling the proceedings moving forward, in what is being called the UK’s biggest auction of the year. There are reportedly more than 600,000 items being sold in total, which amounts to a sum of £10.8 million. Within the Apple related stock are iPhone 5’s, iPhone 5c’s, iPad Air and iPad mini units, as well as the aforementioned range of Beats-branded headphones.


As aforementioned, the prices of these devices have been severely marked down as the auction house aims to offload the units. Some base models of the iPad Air and iPad mini units are being sold for as little as £2, or about $3. Interestingly enough, the auction house is taking orders online, and those orders can be placed internationally as well. However, the auction house will not be shipping any sold units, so those in international areas that buy the products must figure out their own shipping.


The bidding will end on Tuesday, January 6, 2015.


[via MacRumors; John Pye Auctctions]


http://www.iphonehacks.com/2014/12/phones4u-liquidating-iphone-ipad-stock.html

[adm]

As aforementioned, the prices of these devices have been severely marked down as the auction house aims to offload the units. Some base models of the iPad Air and iPad mini units are being sold for as little as £2, or about $3.



Sold for or just opening bids? It is a auction and there is 40% to 42.5% extra to pay over and above the bid you make (buyers premium, VAT and CC surcharge).

[adm]

Additional 44% to 47.6% because VAT will be on the goods plus service charge and the CC surcharge will be on this total amount.

[Maxwell]

looking on the auctioneers site reveals that the bids are already too high to be viable e.g Ipad Air mini rrp £199 current bid £125 plus the commission then plus VAT then you have your own carriage charges to add to that.
Chances of getting anything for £2 is zero, in fact getting something above rrp is more than likely

[gerrykiddy]

Seems to be a shambles and most likely that they will have to cancel those bids already made. Seems clear that bidders did not read the terms or were not aware of the extras and as stated many of these goods are being valued well above high st prices. Just as well they didn't ask for credit cards details on registration.

[Stanman]

You get numpties on John Pye, some people just can't add up and not this case bit others good are not guaranteed to work as there customer returns

[adm]

You get numpties on John Pye, some people just can't add up and not this case bit others good are not guaranteed to work as there customer returns


It reminds me of the computer surplus auctions that used to do the rounds 20 years ago. You couldn't be sure that the goods were new or if it was a batch of customer returns. There were also batches of 'non-standard' (only works in brand X) stuff that wholesalers couldn't shift, but not listed that way. Anything of value usually went for the 'going price' but then there were the service charges on top. Those auctions worked because the majority of people didn't know where to get the best deals (it wasn't a 2 minute search on the Net).

I assume that the bids on the John Pye site are legally binding and the auction house will just pass on the details of non-payers to debt collection agencies, incurring additional costs.