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Date: 05/12/2019     Park Village Auctioneers     Auction News

Strong Start for Enormous 3-Day Bosasa Auction

Strong Start for Enormous 3-Day Bosasa Auction
The energy of the bidders on the opening day of the 3-day Bosasa auction was second only to Clive Lazarus, Park Village Auctions’ head auctioneer.

Neither rain nor sleet—nor last-minute appeals to halt proceedings—could stop hundreds of eager bidders from descending on the infamous headquarters of African Global Operations (formally Bosasa) to participate in history in the making.

The publically contested 3-day auction of Bosasa assets facilitated by Park Village Auctions in association with Bidders Choice under the due instruction of the liquidators, Sechaba Trust, got off to an impressive start this morning.

Despite cold, rainy weather bidders arrived in droves at the Smart Global Campus in Krugersdorp that was once the head office of Bosasa.

PVA’s Head Auctioneer and Director, Clive Lazarus commenced the auction with great gusto, which was well-received by the audibly excited audience.

The first lots of the day comprised 123 vehicles and 11 trucks. Approximately five of the sold cars were “Subject To Confirmation” or STC, as they had been issued for personal use and the employees driving them had been paying “perks tax”, thus earning the first right of refusal.

The renowned 2016 BMW F85 5.5i was once such vehicle. With 53 561km on the clock, it sold for R590 000 excluding VAT and commission, STC.

Other noteworthy sales include a 2016 Mercedes Benz C250 (95 640km) sold, STC, for R255 000—well below the average used selling price—and a multi one M1 10.8 multipurpose drivable utility machine sold for R330, 000.

It’s worth noting that all the auction items are sold excluding VAT and buyers’ commission.

Various industrial containers (with contents as sold as separate lots) then followed the vehicles. Assorted office furniture and equipment, canteen and catering equipment, as well as workshop tools and machinery, made up the final sales of the day.

The auctioneers called a close to the day at 6 pm with some 150 lots remaining that will be carried over to day two of the auction. 

Commenting on the auction’s performance on day one, Lazarus said that the auctioneers were pleased with the prices achieved on day one, which total “approximately R16 million.”

“The best is yet to come.” Said Lazarus who explains that things will heat up on day two with the sale of three properties and the copper plant followed by “opulent executive office furniture”.

Day two (Thursday 5 December) will see the infamous Bosasa headquarters, the Lindela Repatriation Centre and the Rodcor copper plant premises go under the hammer.

Lazarus: “Judging by volume and nature of the enquiries we have received, we expect to welcome a host of discerning buyers and fierce bidding over the properties tomorrow.”

According to Lazarus, day three will most likely attract the largest crowd yet when electronic equipment, household furniture (which carries some historical value) and security equipment go on the block.

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