Promising new political environment signals buoyant year for auction goers

Positive political and economic developments at the beginning of the year may bring the impetus the economy needs to drag it out of its prolonged slump and provide investors with the spark they need to untie their purse-strings in search of opportunities. “If the green shoots we have seen since the beginning of the year are anything to go by, then the whole economy will be buoyed, with the ensuing ripple effect extending up and down the entire length of the country’s supply chain,” says professional auctioneer and director of Park Village Auctions, Roy Lazarus. “In our industry the indicators are much more apparent than elsewhere in the economy as the number of serious investors at our auctions gives us a quick indication of the state of our economy. “Their access to credit is also a clear indication of banks’ appetite to lend money, and increasing numbers therefore usually translate to a stronger economy. “Based on the interest we are experiencing thus far this year we are expecting good numbers of serious investors at our first auctions of the year. These range from property and moveable sales to business assets and motoring among others,” says Roy. He adds that these early auctions usually represent good opportunities for investors who can profit from year-end capital raising attempts of businesses to fund 13th cheques for their employees or individuals wanting to fund holiday expenses. Property and business sales are also usually buoyant at this time of the year as non-core assets are disposed of to fund new ventures. “Whatever the reason and whatever the investment, we believe that 2018 will be a better year for the auction industry as people steadily learn the value of buying and selling goods on auction. The expected upturn in the economy also spells good news for investors, who can expect a wider range of properties and assets to go under the hammer,” Lazarus concludes.