Lingstar goes under the hammer
Wednesday, 26th March, 2014
By By Erica Visser
Hundreds of business and station owners showed up at Kanandah Road yesterday to take part in a clearing auction of Lingstar’s assets.
The large earthmoving company went into administration earlier this year, leaving behind millions of dollars of equipment.
It was cleared yesterday when several hundred bidders attended the five-hour auction which was equipped with security staff and a food van.
The auctioneers were also able to reach an international market with the inclusion of phone and online bidders.
“The hammer will be coming down on the majority of items today,” Auctioneer Gavin Dempsey said while broadcasting from the back of a ute.
Chad Howard, whose family owned Goonalga Station near Wilcannia, said he was impressed with the range of equipment.
“We’re just looking for machinery for the station. There’s a lot out here,” Mr Howard said.
John Symes got to the site early to inspect equipment and fill out his registration form.
“I’m looking for a trailer and possibly a grader,” he said.
Administrator Steve Duncan said that the auction drew a good crowd.
“At this point in time it’s hard to say how much was made, but there were approximately 400 lots,” he said,
“It was very well attended and there were a lot of people that registered and a lot that did so over the internet and over the phone.
“There was a lot of interstate interest.”
The auction was expected to make around $2 million.