Auction group winds up busy year as auction business grows
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.