Property auction house makes a splash
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.