Category Archives: News

The value of choosing auctions

The value of choosing auctions

Economic challenges, policy changes and soaring inflation has placed tremendous financial pressure on companies.

According to Clive Lazarus of Park Village Auctions (PVA), when companies need to realise locked-up capital, auctions represent a fast and reliable way to convert assets into cash.

“The year 2018 has been a turbulent year with the rand’s performance resembling an ECG (electrocardiogram) report,” says Lazarus. “This had an unfortunate impact on many businesses that were not able to weather the storm on their own.

“As such, our business rescue division was particularly busy throughout the year.”

Before reaching the point of filing for business rescue, however, he suggests businesses can opt to strategically dispose of assets through auction to free up much-needed cash flow.

Lazarus says that auctions are not only an efficient way to generate capital, but are also a superb mechanism for reducing costs, increasing and optimising business performance.

“Identifying and disposing of superfluous or redundant assets via auction allows businesses to curtail holding costs, wear and tear, and shrinkage,” he explains.

“Public and online auctions appeal to sellers and buyers alike, it’s a win-win for all. Sellers can effectively outsource the sale of goods, enabling them to continue focusing on core business. The nature of auctions dispenses with sales negotiations, and facilitate the realisation of assets at market-related prices.

“Lead times are generally shorter than traditional sale methods, and the agreement is final, with upfront payment required to conclude the deal.”

To best illustrate the value of auctions as a means for asset disposal, Lazarus shares the results of what PVA has achieved on client’s behalf throughout the year. All prices exclude value-added tax and buyer’s commission.

  • Residential dwelling (1 209m²) at Umhlanga Rocks in KwaZulu-Natal sold for R5 350 000;
  • Retail vehicle showroom (4 040m²) in Bryanston, Johannesburg, sold for R11 600 000;
  • Specialist shaft sinking concern, equipment and assets, sold for R12 700 000;
  • Boutique hotel and apartments in Milpark, Johannesburg, sold for R12 800 000;
  • The former premises of The New Age media in Midrand sold for R29 500 000;
  • Industrial property (52 000m²) in Germiston, Johannesburg; heavy engineering equipment and assets sold for R30 000 000 and R3 446 000 respectively; and
  • Engineering workshop and specialist laser and plasma cutting machinery (VR Laser Services), sold for R34 500 000.

Notable commercial vehicle auctions achieved include:

  • A 2016 MAN TGS 27-440 truck tractor sold for R565 000;
  • A 2015 Caterpillar 428F backhoe loader sold for R570 000; and
  • A 2016 Scania R500 LA truck tractor sold for R950 000.

Lazarus says: “Gone are the days when auctions were viewed merely as a forced mechanism for recouping bad debt. Today, organisations can freely choose to sell their assets at auction given the inherent benefits associated with this method of selling.”

Two prime seaside properties

Two prime seaside properties

Van’s Auctioneers will host two auctions of prime properties in the coastal towns during this festive season, both on instructions from the liquidators of legal entities in liquidation. On December 22 at 11am, a four-bedroom family home on The Heads, Knysna, will be on offer. The house is positioned within close proximity to the well-known… Continue Reading

One-stop festive shopping

One-stop festive shopping

The silly season is upon us. As 2018 draws to a close and people start thinking of gifts for the festive season, look no further than Old Johannesburg Warehouse Auctioneers’ yearend auction. A three-day auction from today until Sunday is filled with treasures great and small. A wonderful experience for the connoisseur collector and novice… Continue Reading

Business opportunity in Lindo Park, Pretoria

Business opportunity in Lindo Park, Pretoria

Two adjoining properties set up as secondhand car dealerships, will be auctioned in Lindo Park on December 3 at 11am. The properties are located at 77 and 79 Stormvoël Road, Lindo Park, Pretoria and are 697m² and 592m² respectively. Being a busy industrial area, that is well-known for its second-hand car dealerships makes this the… Continue Reading

One for fleet owners to note

One for fleet owners to note

Park Village Auctions will hold a massive vehicle sale comprising large fleet trucks and trailers, as well as accident damaged and salvaged vehicles, according to the firm’s LeRoy Augustyn, who says this one is not be missed. The assets stem from a national snack food manufacturing concern, Carnival Foods (Pty) Ltd, and is under the… Continue Reading

Looking for office space?

Looking for office space?

Two prime office buildings in Johannesburg North will be brought to market by Park Village Auctions. That’s the word from PVA’s Jaco du Toit, who says those looking to start 2019 in premium corporate offices need look no further. The auction will commence with the sale of a well-maintained office building, with excellent Sandton Drive… Continue Reading

Collect some war medals, art

Collect some war medals, art

Bernardi Auctioneers of Pretoria is proud to host the retrospective exhibition of Adelio Zagni Zeelie, which opens tomorrow, at 11am. The unique collection will also be included in their auction of SA art, furniture, collectables, jewellery and numismatics on Saturday, December 1 at 10am. A total of 324 lots are under the hammer and of… Continue Reading

Stately house wants owner

Stately house wants owner

An elegant, five-bedroom house located in the sought-after suburb of Sunward Park, Boksburg, will be on auction on December 6 at 11am. The property has state-of-the-art finishes, including travertine tiles, solid wood built-in cupboards and doors, as well as a lovely wooden staircase. The house has five bedrooms, all with underfloor heating, three bathrooms, two… Continue Reading

The A-to-Z artist

The A-to-Z artist

Bernardi Auctioneers of Pretoria will honour one of South Africa’s great – but virtually forgotten – artists and decorators with the staging of The A-to-Z Artist, a retrospective exhibition of the work of Adelio Zagni Zeelie, from tomorrow until November 30. The exhibition at the Bernardi Gallery at 65 Thomson Street, Colbyn, will open with… Continue Reading

Grab a secure family home

Grab a secure family home

Van’s Auctioneers will auction off a family home in the popular Villa Santika in Rynfield in Benoni on Wednesday. The auction is presented on behalf of the liquidators of a company in liquidation. It should be very popular with lots of interest in this house. The house features three bedrooms, two bathrooms, an entrance hall,… Continue Reading

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