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EXCLUSIVE: Questions Raised Over Liquidation Of Thousands Of Konka TVs

UPDATED: Serious questions are being raised after Lloyds Auctions moved to spruik the sale of 3,000 Konka TV’s with the recommended value of the Ultra High Definition TV’s significantly inflated, questions are also being raised about the 14- day warranty on the TV’s.

In a press release sent to ChannelNews Lloyds Auctions claimed that they were flogging more than 3000 brand new Konka smart TV’s which landed in Australia earlier this year bound for an Australian retailers shelves but were locked out as COVID-19 sent the entire country into lockdown.

The only problem is that several of the major consumer electronics retailers have told ChannelNews that it was not their retail organisation who ordered the stock.

Lloyds have not said who the retailer was the stock was bound for resulting in them now offloading 3,000 TV’s when most retailers are desperate for TV stock due to shortages.

Lee Hamas Chief Operating Officer said that his Company was approached by Chinese Company Konka to liquidate immediately the TV’s” irrelevant of value or sale price”.

A visit to the Lloyd Auction web site where bidding has already started reveals information on the UHD Konka TV’s which are not sold by any retailer in Australia other than Amazon.

On the Lloyds Auctions web site, A 65” Ultra High Definition TV is shown with a recommended retail price of $2,999 their 55” Konka UHD TV has a RRP of $1,999, both TV’s are devoid of smart TV features.

A 65”4K UHD Konka TV is currently selling on Amazon for $1,155 some $1,844 cheaper than the RRP on the Lloyds Auctions Konka TV.

A 55” $K Konka TV on Amazon is currently selling for $750, $1,249 cheaper than the Lloyd listing.
A new 65” Bauhn 4K UHD TV will be on sale this week at Aldi for $599.

When it was put to Lloyds management that they were artificially inflating the recommended retail price of the TV’s in an effort to solicitate higher value bidding he claimed that Konka executives from Shenzhen China, supplied the recommended retail pricing for the TV’s.

the 14-day warranty being offered only covered the shipping of the TV’s and manufacturers parts from Lloyds to the sale destination, on the 15th day no warranty is available from either Konka or Lloyds Auctions..

Konka have no distributor or offices in Australia and they are not in a position to offer warranty on the Konka goods sold in Australia according to Konka in Shenzhen.

“We were told that Konka sales executives shipped the TV’s to Australia in February in the expectation that they could sell the stock to Australian retailers. COVID-19 lockdowns hit, and the sales executives could not get in to see retailers”.

An Industry executive who has been selling TV’s to retailers for decades said, “No one would ship 3,000 TV’s to Australia without an order from a retailer, it makes no sense”.

“Right now, retailers are desperate for TV stock as there is no stock around especially UHD 4K TV’s, one would expect retailers to be jumping at buying 3,000 TV’s as there are massive shortages of 4K models.
Lloyds Auctions claim that they have 400 pallets of the Konka TV’s from 39” to 75”.

Hamas said “Due to the volume of product we expect there to be many bargains to be had right around the country as we are offering a flat rate shipping model for these TV’s of only $30 to anyway Nationwide,” continued Mr. Hames.

“Normally their retail would range for anywhere between $500 and $4000 but with this auction who knows what crazy bargains people might be able to snap up and people really can’t go wrong here with our 14 day return to store Warranty we are offering, ” commented Mr. Hames.

We are still waiting for a response from the Australian Competition & Consumer Commission re this story.

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