Insurance claim auction

Hello Ozbargainers…. I would like to ask a question about insurance claim auction… one of the items on ebay mentions that the item was brand new but it also mentions that it was bought at one of the insurance claim auctions… what are these auctions?…why are new products sold at these auctions for fraction of the cost? …quick google search gave me following results…

I am curious for an answer… I am sure one of the ozbargainers would be able to solve the mystery…

Thanks in Advance…



    Stolen, insurance paid out, then subsequently recovered?


      More often water or smoke damaged
      Often it may only be the packaging which is damaged but now unable to sell as new
      Lots of items like this end up at Seconds stores


    ok…thanks guys

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