June 2009

CARAVANNERS beat a path to a Brisbane auction house to snap up bargains when assets from failed Geist importer Oakhurst International Caravans went on sale.

AuctionsRus put an estimated $300,000 worth of top quality caravan components and accessories under the hammer at its Eagle Farm premises, with prices fetching from $2 for a bundle of upholstered cushions to several thousand dollars for complete caravan fronts.

The sale attracted  about 150 prospective buyers, including caravanners eager to snare items at knock-down prices ... caravanners like 66-year-old Bob Hollingsworth from Toowoomba, Queensland, who was after an awning for his 17ft Adria.

Kevin Arnold lifts the lid on one of the bargains to be had at the auction

"I'll soon be hitting the road full-time and thought the auction would be a great place to pick-up a cheap awning," he told Caravanning News. "I'm gathering stuff for when I start my travels. I don't have any destinations planned ... it'll be a case of wherever I turn up, I turn up."

Grey nomads Ray and Rita Furlong from Brisbane were looking for a cheap caravan cover for their Paramount.

And Kevin Arnold, also from Brisbane, was keen to buy accessories for his 27ft Chesney dating from the 1970s. "I'm renovating the old girl and there's lots of items here that would be ideal," he said as he eyed up a Thetford flushing toilet.

Meanwhile, Sunshine Coast caravanner Les Bryant admitted: "I feel like a vulture enjoying the pickings from Oakhurst, but I suppose I can gain some solace from the fact that my money may be used to pay those unfortunate people who are owed cash by Oakhurst."

Caravan repairers from Brisbane and the Sunshine Coast also snapped up bargain-priced Geist spares including floor coverings, windows, doorlocks and skylights.

None of the Moller family, which was behind the once successful Oakhurst International Caravans business, attended the auction.

Thousands of items went for a song at the three-hour sale, including a 15in LCD television for $50, an Isabella 360 awning for $110, a Dometic three-way fridge for $280 while a Dometic roof air-conditioner fetched $220 ... more $1000 under retail price.

Intellectual property such as the registered trading name, trademarks and websites for Geist Australia failed to sell but auctioneer Grant Jackson said negotiations with prospective buyers were continuing.

AuctionsRus owner Ken Gargon amid the action

"It was a successful auction with a well represented group of buyers," he told Caravanning News. "We achieved fair market value for the assets and were happy with the results."

Oakhurst International Caravans, the major importer of German-built Geist caravans and motorhomes, shut up shop after suffering a sales slump caused by the global recession.

The Queensland-based company, which called in administrators after running up debts of between $9 million and $11 million, also traded under the names Fraser Coast Caravans, Geist Caravans and Motorhomes, Geist Vehicle Leisure Australia, Geist Vehicle Leisure, Geist Leisure Centre, Geist Direct and Geist For Life.

Vincents Chartered Accountants directors Peter Dinoris and Nick Combis are now liquidators after creditors resolved to wind up the company.

Bargain hunters Ray and Rita Furlong

Oakhurst directors said the company experienced a significant decline in caravan sales due to the prevailing economic climate.

"The company was flooded with stock from the overseas supplier that could not be sold in a timely manner, while some stock had to be sold at cost to help meet general trading expenses," Mr Dinoris said.

"The liquidation of Oakhurst International is expected to run for at least a year. The liquidators will proceed to realise the balance of the floating assets of the company and investigate its affairs and transactions,”' he added.

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