Scott Rochfort
February 17, 2011
Onlookers, vultures and devotees of corporate collapses are making their way to Alexandria this week for what should be one of the last remaining Babcock & Brown asset sales.
Indigopop Furniture Traders is holding a clearance sale of the contents from the three floors the financial engineer used to occupy in Chifley Tower.
''It is all designer stuff,'' said a Deans auctioneer, James Barnier.
Advertisement: Story continues below He noted the 300 American Steelcase chairs on sale would have been originally purchased by Babcock for about $1000 each.
Included in the clearance are grog cabinets, boardroom tables, electronic whiteboards, fridges and workstations. It is unclear if a premium has been put on the bar fridge and desk of the former Babcock chief executive, Phil Green. Nor on the boardroom whiteboard responsible for some of Babcock's ill-conceived deals.
The auctioneer has had a little trouble estimating how much money the sale will generate. One ad yesterday described it as a $2 million clearance, while Indigopop's website puts a valuation at $4 million. ''They would have spent far in excess of that,'' Barnier said. ''It's hard to determine [a price] when it's out there in the warehouse
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