ESWATINIBANK AUCTION A SUCCESS

MBABANE – Bidders took advantage of the EswatiniBank motor vehicles auction.

Out the seven vehicles which were up for grabs, a Kia workhorse and Range Rover did not go under the hammer as participants took turns into outbidding one another to successfully own the assets which were in good condition.

Even one of the only vehicles that was not bought by the slightly over 20 bidders also managed to get an offer which was subject to confirmation. From a reserve price of E114 000, the mini truck attracted an offer of E85 000 which was subject to confirmation. However, it could not be immediately ascertained whether the offer was accepted by the time of going to print. 

Attended

Bidders who attended the auction which was held at the EswatiniBank depot at the Matsapha Industrial Sites were expected to pay a refundable deposit of E3 000.

The auction started at 10:30am and lasted for about 30 minutes.
It should be mentioned that most buyers recognise that they may be able to buy vehicles at much cheaper prices at an auction than if compared to cars sold at conventional car dealerships and distributors.

This may be well below current market value. Some estimate a potential saving as much as 30 per cent.
“Retailers can’t compete with auction prices, so you could potentially find a well-conditioned car at a much reduced price.

The buyer with the skills to repair the small dents and minor mechanical problems will quickly realise the true potential of a used car on auction,” an auctioneer advised.

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