South Africans are increasingly turning to auctioneers to buy and sell valuable assets in a fast, straight and clean transaction.

For newcomers to buying and selling however, the market can be fraught with challenges navigating the country’s tough legislation requirements for selling and buying goods to steering clear of never-ending new methods of scamming users of their hard-earned money.

Thankfully nearly all of these challenges can easily be negated through the use of auctioneering services provided by South African Institute of Auctioneers (SAIA) members. Using a registered auctioneer offers major advantages. Whether acquiring something of value or looking to dispose of property, machinery, vehicles or other items it pays to make use of SAIA members’ professional services.

A very useful auction information booklet is available to be downloaded from SAIA’s website which provides both sellers and buyers with great insight to how auctions work. Alternatively an investment in a small amount of time in contacting SAIA through its many channels on www.auctioneering.co.za to establish an auctioneer’s credentials and whether they are SAIA members can go a long way to ensure a person is in trustworthy and professional hands. If that on its own is not a reason to make use of a professional auctioneer here are five more reasons to buy from a SAIA registered auctioneer and five reasons to list your assets for sale with a SAIA registered auctioneer:

FIVE REASONS TO BID THROUGH A SAIA REGISTERED AUCTIONEER:

1

Verification and credibility
The South African Institute of Auctioneers (SAIA) maintains a public list of registered auctioneer members — if the auctioneer is not listed SAIA cannot confirm their legitimacy. Buying through a registered auctioneer therefore gives you greater peace of mind that you’re dealing with a known accountable and credible auction company.

2

Protection against scams
SAIA has warned of sophisticated fake-auctions and bogus auctioneers where assets are “offered” but never legitimately auctioned. By sticking with registered auctioneers you reduce your risk of falling victim to such schemes, some advice and tips regarding these scams can be found on https://www.auctioneering.co.za/1607/advice_from_saia

3

Transparency of process
Registered auctioneers follow standard terms and conditions and are bound by SAIA’s Code of Conduct, and the CPA This means the auction mechanics (viewing, registration, bidding, settlement) should be clear and fair with no hidden surprises.

4

Access to broader categories of assets
Through the SAIA portal (via auctioneering.co.za) you can find auctions for everything from property and vehicles to industrial equipment, agriculture and moveables. Buying via a registered auctioneer means you can tap into that full range with confidence.

5

Regulatory compliance and legal safeguarding
The auction industry in South Africa is subject to laws (for example the Consumer Protection Act 68 of 2008) and professional ethics. SAIA is the Professional Body of the Auction Industry in South Africa and ensures that their registered auctioneer members conform to and ensure they operate in accordance with these standards and all other rules, protocols and procedures as required. As a buyer this gives you recourse and clarity if things go awry.

<<Part 2>>

5 REASONS TO LIST YOUR ASSETS WITH A REGISTERED AUCTIONEER

When selling assets it is equally important to deal with a professional SAIA registered auctioneer to ensure that the prices fetched are maximised without using false information or other techniques that can easily tarnish the best reputation. SAIA auctioneers are properly trained; professional have good ethics and ensure sellers get the best price and buyers have a good experience. Here are a number of good reasons to use a SAIA registered auctioneer to dispose of your assets:

1

Professional marketing and exposure
A registered auctioneer has access to the SAIA portal with an immense database and its audience, as well as using established marketing channels which means your assets are exposed to a wide pool of potential bidders for stronger competition and potentially better disposal value.

2

Structured auction process and higher integrity
Because SAIA’s registered auctioneers operate under SAIA’s Code of Conduct, the process of listing, viewing, bidding and settlement is formalised and reliable. Sellers therefore have more confidence in the process and outcome.

3

Efficient disposal of assets
Auctions are particularly effective for disposals of large quantities, specialised equipment, estate clearances, industrial and commercial assets. The SAIA registered auctioneer route provides a streamlined way to convert assets to cash.

4

Legitimacy and trust for potential buyers
When you list via a SAIA registered auctioneer buyers feel more confident engaging. That tends to increase the pool of bidders and reduce friction. SAIA-registration signals quality and accountability.

5

Compliance and risk mitigation
As a seller you may face legal and regulatory obligations (for example, proof of ownership, correct asset description, auction terms). SAIA Registered auctioneers are equipped to handle these, reduce risk of disputes and ensure you meet your obligations.