Melbourne-based receiver and manager Korda Mentha decided to donate the proceeds from the sale of the five, life-sized cows to Launceston's City Mission because of the community interest shown.

Buyers spent more than $11,500 on the cows that have stood in the grounds of the six-year-old administrative headquarters since former executive chairman John Gay bought them at a Queensland charity auction.

Korda Mentha spokesman Mike Smith said yesterday that there had been ``an extraordinary amount of interest,'' shown in the cows since the wind-up of the company started last November.

``They obviously captured the hearts of the people so we thought that it was appropriate that the money from their sale goes back to the city via the charity,'' he said.

Mr Smith said that Korda Mentha had the discretion as receiver and manager to give the cow money to charity.

``They (the cows) are not something that has corporate value,'' he said.

The rest of the items up for sale from the purpose-built Gunns' headquarters fetched about $50,000.

They included office equipment and furniture.

Remaining historical records from the 141-year-old Launceston-based company such as early photographs will be donated to the Queen Victoria Museum and Art Gallery.

More money was raised from an earlier online auction of plant and equipment from the former Gunns' Lindsay Street timber yards at the back of the administrative headquarters but the amount was not available yesterday.

A date has still not been set for the failed company's second creditors' meeting by administrator PPB Advisory.

A decision on the timing of the meeting is expected early next week.