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Liquidation auction sells equipment starting at $1

W.E. Smith Lloyds auction
W.E. Smith Lloyds auction

A defunct engineering company is liquidating all of its plant and equipment assets through an auction with no reserve.

W.E. Smith is selling all of its machinery, including more than 200 welders, sundries, lathes, borers, welders, cranes and workbenches among others. The sale is being managed by Lloyds Auctions and Aylward Auctioneers.

“There are over 2000 pieces of equipment all completely unreserved with all items starting at just $1. These items could sell for any price,” Lloyds Auctions head of business development Glenn Screech said in a public statement.

It comes more than two years after the equipment maker for the oil, gas and mining industries permanently closed its doors at the end of 2016. Screech promised all equipment has since been preserved and carefully maintained.

“It’s hard to find this type of quality gear, there’s not much around these days and they don’t make them like they used to,” he said. “The fact that care and maintenance staff have looked after these machines by turning them over and keeping them running means that equipment is operational.”

The auction is open for online bidding and the items will go under the hammer on February 28.

Inspections will be held at the W.E Smith site in Coffs Harbour from 9am to 4pm (NSW time) on February 27.

“There will be two sales, one live auction in the morning with bidding also available online and a second auction online only in the afternoon on the 28th of February,” Screech said.

Visit the Lloyds Auctions website for more information.

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