Controversial auction platform Grays Online has been placed into administration just days after being sold to Slattery Auctions for $2 million, raising questions over whether the move was designed to sidestep a $10 million penalty imposed by the Australian Competition and Consumer Commission (ACCC).

The appointment of administrators was confirmed late Friday by Jason Preston, Executive Chair and Partner at McGrath Nicol.

The collapse follows a July Federal Court ruling that ordered Grays to pay a $10 million fine and compensate hundreds of car buyers misled by deceptive advertising, which left consumers more than $3 million out of pocket. The court found Grays had misrepresented the make, model and features of at least 750 vehicles sold between July 2020 and June 2022, while failing to d

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