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SWAZIBANK AUCTION ON THURSDAY

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MBABANE – If you are a business person in the construction industry or want to own a posh car, be sure not to miss out on the SwaziBank vehicle auction on Thursday.


Bidders who will attend the auction to be held at the SwaziBank depot at Matsapha Industrial Sites stand a chance to own the vehicles in good condition and running engines.


 Viewing of the vehicles will be held tomorrow from 10am to 3.30pm. To participate at the auction to be conducted by Rexy’s Investments’ Melusi Qwabe, the public will be expected to pay a refundable fee of E3 000.


It should be mentioned that there has been a surge in the number of people attending vehicle auctions looking for value purchases - a trend which could translate into greater numbers of qualified and cash buyers at auctions.


In cash-scarce times, the speed and finality of auctioneering has a major drawcard for corporates and entrepreneurs.
Auctions offer a market platform with a number of potential buyers bidding for assets at a single point in time. Once the hammer falls, settlement takes place within specified periods and there is no room for any further negotiation by buyers. This much-needed certainty, coupled with greater agility, continues to be an attractive benefit.


“For buyers, the SwaziBank auction offers the opportunity to purchase assets at fair value,” Qwabe observed.
Auctioneering is the apex between supply and demand, so buyers often find bargains at better prices than retail purchases or private sales. (Additional info sourced from Business Day)

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