Jeep deals at car sales

Over 2,500 shoppers turned up to bid for only 150 cars in what is fast becoming the latest car-boot sale – liquidation auctions.

A spokesman for Merlin, which specialises in car auctions of recently shut-down companies said demand for the liquidation sales has "gone through the roof".

Figures also show that while only 6% of Irish people bought their vehicles at auction five years ago, 63% now buy their cars this way.

"We have a lot of liquidation sales, which hundreds of members of the public invariably turn up for. There is a huge amount of public interest because wherever the value is the customers will want to go. When 2,500 people turned up for 150 cars, we were amazed.

"In terms of companies going bust, we have seen a figure far higher than what we were anticipating. We have had to launch a second auction centre to deal with the cars that are left when dealerships go into liquidation," he said.

Potential buyers are hitting the sales in the hope of picking up cars like Bentleys at less than half price.

"There are more liquidation auctions popping up around the country as businesses need to get rid of their stock at a fast rate and they often give excellent value for money. We have sold Ferraris and Bentleys for half their mark-up price, straight from the courtyards. It has been a brutal year for the car traders."

Some well-known car dealerships that have gone bust this year include Belgrade Motors and EP Mooney.

Liquidator Jim Stafford said 2009 was a record year for the number of businesses having to close their doors.

"We have had to take on extra staff to deal with the huge leap.

"Our average day consists of meeting various company directors and advising them on whether their company faces a reasonable chance of survival, and what to do if not."

Stafford said January is set to be extremely harsh on Irish industries, particularly for the retail and hospitality trade.

"January will be very tough. The combined effect of last year, plus the fact that shoppers are heading to Northern Ireland to buy their goods will see a very bad month for industries."

Central Statistics Office figures reveal that shoppers from the Republic of Ireland have spent over €435m in cross-border purchases.