Times Of Swaziland: STANDARD BANK VEHICLES AUCTION TOMORROW

STANDARD BANK VEHICLES AUCTION TOMORROW
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BY KWANELE DHLADHLA  on 03/12/2019 00:43:00


MBABANE - Are you in the motor vehicle retail industry or eager to drive in
‘good as new’ wheels this festive season?
Then, be sure not to miss out at the Standard Bank motor vehicles auction to be
conducted tomorrow.
The bank has sanctioned the auctioning of motor vehicles in good condition.
It has been mentioned that the vehicles which will go under the hammer range
from bakkies, SUV’s, mini trucks and a workhorse.
The auction will be conducted by Rexy’s Investments Director Melusi Qwabe. It
was announced yesterday that the venue has been changed from the Standard Bank
depot in the Matsapha Industrial Site by Turbo Diesel, to the corner of King
Mswati III Avenue and King Sobhuza II Avenue.
The starting time was not changed from the initial being 10:30am.
Bidders will be expected to pay a refundable deposit of E3 000 by cash or bank
guaranteed cheque to participate.
Assets
Viewing of the assets will be conducted today between 11am and 3:30pm.
Qwabe invited bidders to the auction and promised that the reserve prices would
be lower than what the market had to offer.
“Bidders who will attend the auction will have a merrier Christmas because we
really have good prices” said Qwabe.
It should be mentioned that most buyers recognise that they may be able to buy a
vehicle at a much cheaper price at an auction, than if compared to cars sold at
conventional car dealerships and distributors.
Value
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,” Qwabe had earlier advised.