TOUGH CONTEST AT US AUCTION

 MBABANE – Entrepreneurs and individuals took full advantage of the business opportunity presented by the United States (US) Embassy through auction.

From industrial generators to office equipment, houseware, electrical and outdoor equipment, bidders did not have it easy as they competed to purchase items at bargain prices.

The nearly 150 people who crammed the embassy’s site at Kent Rock hiked prices by more than 200 per cent from initial offers accepted by Rexy’s Investments Auctioneer Melusi Qwabe.

One such example of an item which was hiked above bidders’ expectations was the priciest generator. The 400 voltage industrial generator, had its bid raised by E1 000 from E30 000 until it eventually went under the hammer for E50 000.

Less

It should, however, be mentioned that some items were sold for prices that were much less than market value such as the good-as-new Kyocera 3500i multi-purpose printer, which was sold to Nhlanganiso Dlamini for E10 500. The reserve price had been fixed at E10 000.

Dlamini, who runs a printing and branding shop based in Sidwashini, expressed great excitement to have successfully bidded for the printer. He mentioned that it was a very good buy when taking into consideration that even as a second-hand it could not be made available for anything less than E50 000 at a printing shop.   

Purchased

The lowest items purchased were different sizes of second-hand tyres, which were sold at prices ranging from E350 to E500 each.
It should be mentioned that for a sizeable number of the auctioned items, there were no reserve prices but bidders were invited to make offers. 
Bidders who participated at the auction were made to pay a refundable deposit of E2 000. 

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