$17 mn record day of sales for turners with radio licences

$17 million record day of sales for turners as radio licences go on the block

Updated 4 December 2014: Turners recorded a record day of sales yesterday, as it facilitated the sale of 126 radio spectrum licences around New Zealand on behalf of the Ministry of Business, Innovation and Employment (MBIE).

The radio licences sold for a total sum of $17.4 million, with three of the licences selling for over a million dollars. The most expensive sale was for the 100.1 MHz Huntsbury Hill licence, which sold for $7.8 million. This was the only licence available in the auction with coverage of Christchurch city and it had the largest population coverage of those in the auction. There were three bidders all seeking this single licence.

Turners ran the auctions through its TradeMe channel, the first time an online auction channel has been utilised by MBIE to sell its frequencies.

CEO of Turners, Todd Hunter said: “We have been delighted with the enormous success of the radio licence auctions. This is a great example of Turners multi-channel strategy in action. The online Turners / Trade Me channel made it very convenient for the bidders and also meant the auction was visible to a wide audience.”

Turners sells over $480 million of products a year through a variety of sales channels including live auctions, website auctions and tenders and its TradeMe channels. While the company primarily focuses on vehicle sales, Turners also sells a variety of general items.

ENDS

© Scoop Media