Prop­erty auc­tion house makes a splash

Weekend Argus (Saturday Edition) - - AUCTIONS -

SAVILE Row Auc­tions, South Africa’s new auc­tion com­pany, made its mark on the West­ern Cape auc­tion mar­ket with its in­au­gu­ral Cape Town auc­tion at The Westin Grand Ara­bella Quays Ho­tel on Novem­ber 19.

Lew Gef­fen, chair­man of t h e S av i l e Row Auc t i o n s Board said: “We launched S av i l e Ro w Au c t i o n s i n Jo­han­nes­burg in July and in a very short space of time have shown the mar­ket that we are a force to be con­tended with.

“Once the mar­ket in Cape Town heard that we were plan­ning on open­ing an o f f i c e h e re, t h e p h o n e s started ring­ing and the de­mand was ev­i­dent. We knew that we were go­ing to make a se­ri­ous im­pact on the Cape Town mar­ket.”

“My mantra has al­ways been ‘let the free mar­ket pre­vail’ and there is no bet­ter demon­stra­tion of that no­tion than the auctioneering process, which brings buy­ers and sell­ers to­gether on a trans­par­ent plat­form.

“Gone are the days where prop­erty auc­tions are only about sell­ing dis­tressed prop­er­ties and global trends have shown us that the auc­tion method is an ef­fec­tive one and has be­come the pre­ferred way of sell­ing com­mer­cial prop­er­ties,” says Gef­fen.

Kim Fa­clier, manag­ing di­rec­tor of Savile Row Auc­tions in the West­ern Cape said: “The auc­tion was well at­tended by qual­ity buy­ers, which was ev­i­dent in the phe­nom­e­nal i nsti­tu­tional sales that hap­pened on the day.”

Savile Row Auc­tions is the exclusive provider of prop­erty auc­tion ser­vices in South Africa for prop­er­ties listed by Lew Gef­fen S o t h e by ’ s I n t e r n a t i o n a l Realty.

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