Ryans sell up for $390,000

Press, Volume CX, Issue 32459, 20 November 1970, Page 1

Ryans sell up for $390,000

In five hours yesterday at the auctioning of I Ryan Bros, Ltd, equip-I ment in Queen Elizabeth < II Park, 151 lots of mac-' hinery and 61 sundry lots were sold for a total l of §390,000. 1 “It was quite a nice sale. We are pleased to sell everying. Some of the costliest equipment sold below what we expected; on the other hand, some of the lowestpriced equipment sold like hot cakes for more than we expected,” said Mr Jack Ryan aged 48, who with his brother, Barney Ryan, aged 43, decided to sell up the business. Mr D. O. Chapman, auctioneer for Ford and Hadfield, Ltd, said it was a “highly satisfactory sale . . . everything went above reserve prices.” . Two thousand people were present at the peak of the sale. Mr Chapman estimated that there were 400 bidders, coming from Kaitaia to Bluff. It was a brilliantly fine day.

Ryan Bros had spent at least $lO,OOO in promoting the sale, and 54 employees of the firm, in white coats,; were present to assist. Three caravans, with three telephones, one for the auctioneers, one for a finance

company and one for Ryan Bros—with refreshments provided—made it one of the best organised auctions he had been connected with, said Mr Chapman. The top price paid for a single item was $45,000 for a huge bulldozer. The lowest was $l3 for a “spreading tom,” a piece of equipment to prevent the sides of a trench caving in. The biggest single buyer was Demolition and Reading Contractors Company (N.Z.), Ltd, a Christchurch firm registered last Tuesday. The company bought $125,000 worth of equipment ranging from $26,000 for a crawler crane to $2OO for radio-tele-phone equipment. The general-manager and a director of the newly-formed company is Mr C. A. Trousselot, who has worked for Ryan Bros for 11 years, being foreman for the last five years and helping the partners to price tenders for the last three years. The secretary of the company, Mr J. B. Matthewson, said that it had guaranteed to

employ 18 senior men from Ryan Bros staff, and would be ready to work from a yard in New Brighton, about two miles from Ryan Bros yard, on Monday. “We know the other directors in the new firm, and of course we know the men; we wish them the best of luck and say that they will give good service,” said Mr J. Ryan. The Christchurch City Council, counties from all over New Zealand, including the Paiko County Council, were among bidders at the sale. The Mount Cook Airlines was g bidder, and bought a roller ($3300) for maintenance of its airstrip at Pukaki. Several racing clubs were bidders, great interest being taken in water carts to maintain race tracks.

“Payroll tax, petrol tax, spiralling wages and prices ... X didn’t realise that so much loose cash was lying about,” said a rueful, but successful North Island contractor bidder—a good sum-ming-up of the sale.