GOVT SCRAP MATERIAL: OVER E110K IN 90MIN

MBABANE – Government’s obsolete goods still managed to arouse a huge appetite among bidders here yesterday.

Scrap material headlined by IBR roof sheets and window frames went under the hammer at Government Stores at the Industrial Sites in Mbabane yesterday. Over 50 bidders stormed the venue for the auction, and they were from different industries that included construction while others came as individuals. Despite a delay of at least an hour, after 90 minutes, goods worth over E110 000 had already been sold. IRB roof sheets proved popular among the bidders, with one lot of eight sold for a high E4 200 from a reserve price of E500.  This was more than eight times the initial price. There were also ordinary roof sheets that were sold for over E1 000 from a reserve price of E300. Big photocopying machines that were obviously malfunctioning still managed to attract bids, with one bidder getting more than five of them for E30 each. Most of items were sold in bulk except for bathtubs and sinks. From a average reserve price of E500, most bath tubs were sold for over E1 000 each.

Bidders

Bidders were to pay a refundable registration fee of only E500.  The final leg of the auction will be held today at the same premises, starting at 9am. While social distancing proved a challenge at times, police officers came to the venue to ensure safety measures were in place. The auction had to last until noon to conform to the two hours of meetings. Some things that are still up for grabs include hospital beds and other scrap material. The final amount raked in from the auction would be known after today’s festivities. It was gathered that there were 290 lots in total. Depending on the response, government can make up to E500 000.

Government

While it may look like a drop in the ocean, it can go a long way in meeting some of government’s obligations. Government Stores Controller Mongi Gamedze said bought items were to be paid within three days. Those unclaimed after the said period would be sold for the highest bid price registered during the auction. The last auction at the venue was held in December 2019.

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