Auc­tion group winds up busy year as auc­tion busi­ness grows

Weekend Argus (Saturday Edition) - - AUCTIONS -

IT’S BEEN a busy year for Julius Buchin­sky Group. It was bought early in 2009 by a con­sor­tium of in­ter­na­tional in­vestors headed by Cape Town-based busi­ness­man Leno de Vil­liers.

Apart f rom the ma­jor growth in auc­tion busi­ness in South Africa, the group has no­ticed that auc­tion sales have grown tremen­dously in the US, Far East and Aus­trala­sia.

It is re­ported that more than 85 per­cent of Aus­tralia’s im­mov­able prop­erty is sold by auc­tion. Th­ese fac­tors con­trib­uted to the ac­qui­si­tion and re­struc­tur­ing of Julius Buchin­sky Group.

The com­pany has grown tremen­dously in the past year, set­ting its own stan­dards and so­lid­i­fy­ing its po­si­tion in the com­pet­i­tive and fast-grow­ing lo­cal auc­tion in­dus­try.

Gone are the days when auc­tions were seen as the last re­sort for liq­ui­da­tions, se­ques­tra­tions or de­ceased es­tates.

Many prop­erty or as­set own­ers are re­al­is­ing that when they use a pro­fes­sional and ser­vice-ori­ented auc­tion house, they have an ex­cel­lent chance of ac­tu­ally sell­ing their as­set. Julius Buchin­sky Group recorded a 78 per­cent suc­cess rate on all man­dated auc­tions in 2009.

The re­struc­tur­ing of the com­pany’s busi­ness units and align­ing it to in­ter­na­tional auctioneering stan­dards has been com­pleted ahead of the Fe­bru­ary 2010 tar­get. Its core busi­ness is fo­cused on the auc­tion­ing of im­mov­able prop­erty, lux­ury goods, mem­o­ra­bilia, valu­ables and all forms of cap­i­tal as­sets on be­half of pri­vate own­ers or com­pa­nies.

It has also es­tab­lished the Liq­ui­da­tion Ware­house brand through which as­sets of restau­rants, bak­eries, butcheries , re­tail com­pa­nies and oth­ers are sold on be­half of clients.

The com­pany has also no­ticed that many sell­ers who bought prop­erty at the peak of the prop­erty mar­ket cy­cle are now re­al­is­ing sales val­ues of be­tween 25 per­cent and 35 per­cent less than their orig­i­nal pur­chase prices, what­ever method of dis­posal was ap­plied. This means that it is still a buyer’s mar­ket and po­ten­tial sell­ers must struc­ture re­serve val­ues ac­cord­ing to mar­ket in­di­ca­tors.

For in­for ma­tion, call Julius Buchin­sky Group on 021 415 7320 or visit www.julius­buchin­sky.com.

TAK­ING OFF: An auc­tion at the Helibase in Cape Town ear­lier this year.

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