UK retailer Phones4U shut down its online store and closed its retail operations earlier this year when the struggling company entered administration, the UK equivalent of bankruptcy. Now in the middle of the administration process, Phones4U is ready to liquidate its existing stock of products, including its entire inventory of iPhones, iPads and Beats headphones.
UK auction house John Pye Auctions is handling the liquidation of Phones4U stock, which includes more than 600,000 items worth £10.8m in what is the UK's biggest auction of the year. Among the auction items are Beats headphones, iPhone 5/5c units, iPad Air and iPad mini models.
The items are being sold in individual lots for public purchasing and not wholesale trade job orders. Online bidding is active now with many auctions listed with zero bids. For auctions that do have bids, prices are currently very low. Some entry-level iPad mini and iPad Air models are available for as little as £2 ($3USD).
It appears that the auction site will accept bids from both within the UK and from international buyers, but the auction house will not be shipping items. Buyers must pick up items in person or make their own arrangements for shipment.
Bidding on the auction ends Tuesday, January 6, 2015 with a public showing available on Monday, January 5, 2015 from 10am to 2pm at John Pye & Sons warehouse in Staffordshire.