Listed Company, GoIndustry DoveBid PLC London’s office was a hive of excitement last week as a South African online auction of construction equipment and vehicles put up for sale by local construction giant, WHBO, broke all records with over 120 lots reaching a whopping R23-million.
This was on a par to another auction which was held in Asia during the same week and fetched US$2.8-million for high-quality SMT (surface mount technology) and telecommunications equipment.
John Cowing, managing director of Go Industry DoveBid South Africa, was extremely pleased with the results and is confident that these transparent online auction sales are the future for auctions in South Africa.
The auction attracted bidders from USA, South Africa, the Democratic Republic of Congo, Ghana, Australia and New Zealand. The online platform managed and facilitated by the company’s sophisticated proprietary owned software was able to produce statistics for both the buyer and the seller from the start of the event six weeks before the auction right up until the close. The auction, which was originally scheduled to close at 14h00 South African local time, closed – due to ongoing bidding – at 16h30.
A total of 126 lots were sold out of 151 reflecting a sell-through rate of 83%, well above all expectations. Over 12 000 webpage visits were recorded throughout the marketing campaign with 67 registrants and 57 bidders. A total of 4 000 bids were placed during the auction.
On Tuesday 27th March, Goindustry Dovebid South Africa held a second auction for BHP Billiton Energy Coal SA, with assets located in Middelburg. Goindustry sold 88 of the 91 lots listed, with a sale totalling R3.7-million, well in excess of the reserves of R2.1-million, the client was extremely satisfied with the result. The sale attracted 54 registrants and had 41 active bidders, placing a total of 2 204 bids. This sale had close on 6 000 page views.
GoIndustry South Africa has offices in Cape Town, Melrose Arch, Johannesburg and Durban and is growing steadily as people become increasingly interested by the live online auction process. For buyers, the process is very convenient as they are able to bid from anywhere, be it in the privacy of their own homes, from hotels, or in their own offices. If buyers are away from their computers or travelling at the time of the auction they are able to place auto bids and will be notified via email if they were the highest bidder, or if their offer has been outbid. All registrants are required to complete a participation form in order to be vetted and pay a refundable deposit prior to their bidding status being approved and opened. The entire online system is highly secure and the bidders at the recent WHBO auction expressed great excitement about the process.
For further enquiries about the forthcoming mining and construction sales contact John Taylor at GoIndustry Dove Bid SA (Pty) Ltd on 021 702 3206
Author: Linet Engelbrecht
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