Bosasa bounty draws a crowd

Cold, wet weather couldn’t deter hordes of bargain hunters

● Neither rain nor sleet — nor last-minute appeals to halt proceedings — could stop hundreds of eager bidders from descending on the infamous headquarters of African Global Operations (formally Bosasa) to participate in history in the making.

The three major properties collected a total of R111.5m.

The publicly contested three-day auction of Bosasa assets facilitated by Park Village Auctions in association with Bidders Choice under the due instruction of the liquidators, Sechaba Trust, got off to an impressive start on Wednesday.

Despite cold, rainy weather, bidders arrived in droves at the Smart Global Campus in Krugersdorp that was once the head office of Bosasa.

PVA’s head auctioneer and director, Clive Lazarus, launched the auction with great gusto, which was well received by the audibly excited audience.

The first lots of the day comprised 123 vehicles and 11 trucks. About five of the cars sold were “subject to confirmation” or STC, as they had been issued for personal use and the employees driving them had been paying “perks tax”, thus earning the first right of refusal.

The 2016 BMW F85 5.5i was one such vehicle. With 53,561km on the clock, it sold for R590,000 excluding VAT and commission, STC.

Other noteworthy sales included a 2016 Mercedes-Benz C250 (95,640km) sold, STC, for R255,000— well below the average used selling price — and a MultiOne M1 10.8 multipurpose drivable utility machine sold for R330,000.

It’s worth noting that all the auction items are sold excluding VAT and buyers’ commission.

Various industrial containers (with contents sold as separate lots) followed the vehicles. Assorted office furniture and equipment, canteen and catering equipment, as well as workshop tools and machinery, made up the final sales of the day.

The auctioneers called a close to the day at 6pm with some 150 lots remaining. These were carried over to day 2.

Commenting on on day 1, Lazarus said the auctioneers were pleased with the prices achieved, which totalled “approximately R16m”.

Things heated up on Thursday with properties and the copper plant going under the hammer, followed by “opulent executive office furniture”.

The Bosasa headquarters were sold for R40m to Fidelity Security Group. Lindela Repatriation Centre fetched R60m and the

Rodcor copper plant premises were sold for R11.5m.

Day three attracted the largest crowd for the electronic equipment, household furniture (which carries some historical value) and security equipment.

A mystery safe — without a key and with its contents unknown — was sold for R3,500 on Friday.

The publicly contested auction got off to an impressive start on Wednesday