Paragon’s assets have gone under the online hammer, resulting in a prolonged bidding process as buyers were keen to acquire the collapsed printer’s kit.

Heavy demand for the Canberra outfit’s assets saw the auction surpassing the online auction’s 4pm closing time and into the ‘Going, Going, Gone!’ period. The auction is now officially closed after a five day sale.

Paragon went into voluntary administration in December last year after it was unable to pay its creditors debts of more than $3m. The administrator of the Fyshwick-based printer decided to sell its assets on auctioning website Graysonline.

The auction house cannot disclose the results of a bid however a significant expression of interest was reported from a number of local and international buyers.

The equipment sold included a Heidelberg 10 colour press, Heidelberg XL 105-6+L, 6 Colour Press, both of which are headed overseas, a  Heidelberg Speedmaster HD102ZP, various pre-press equipment, a Muller Martini Perfect Binder and a Stitcher, two trucks and six cars.

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