Master auctioneer warns public of scams
Auctions, auctions everywhere, but not all are the same.
That’s the word from Park Village Auctions’ Clive Lazarus, commenting on the flood of new players in the market.
Lazarus cautions buyers against scammers and provides tips on how to discern a worthwhile auction.
“The lockdown served to accelerate the market’s adoption of online auctions by buyers and sellers alike,” says Lazarus. “Unfortunately, opportunist scammers have been quick to piggyback on this phenomenon.”
This is not the first time that PVA has spoken out about bogus auctions. The company has been actively campaigning via news and social media for months, with their advice quoted in Business Day.
PVA implores consumers not to make any deposits unless they have verified the busi
ness, the banking details and the physical whereabouts of the asset in question.
“Don’t be afraid to scrutinise. Established
auctioneers will be able to prove their details without hesitation. Imposters will use a close variation of a reputable auction house’s name or claim to be ‘trading as’ to dupe you,” says Lazarus.
Previews are also crucial. “If you’re unable to view the asset yourself, send someone on your behalf to confirm its existence — it’s always wise to view the condition of the asset before bidding, too.”
The South African Institute of Auctioneers (SAIA), on the board of which Lazarus has served for several years, has also issued a warning to the public that includes a list of known scams and fly-by-night outfits.
“Auctions have always presented an ideal way to acquire quality second-hand assets at better-than-market rates. It would be a shame to have the industry marred by dubious players just as a new generation of buyers emerges,” says Lazarus.
“That said, once you’ve verified the legitimacy of an auction, remember that there’s a lot more to auctioneering than standing on a podium — or accepting online bids.”
Lazarus says auctioneering is an art that is perfected through years of practise. He also points out that the best deals might not necessarily be online.
He explains that a reputable, experienced auction house will arrange either an on-site, online or webcast (real-time simultaneous on-site and online) auction depending on the nature of the sale and the applicable target market.
For this reason, there may be better bargains available via an auction that accommodates those who don’t have the technical means to attend online.
Lazarus offers practical and prudent advice to consumers who want assurance of legal compliance — and a pleasant experience. He says:
Stick with firms that had an established reputation before lockdown;
Check to see if they are registered SAIA members; and
Choose organisations where auctioneering is their core function.
“Furthermore,” says Lazarus, “look out for auction listings on their website and on dedicated auctions pages such as this. Then you can be sure you’re finding assets that stem from reliable sources, and you will get professional support.”
Contact Park Village Auctions on 011789-4375. www.parkvillageauctions.co.za