Launch of online, real-time auction
Digital sales house preparing for exciting opening sale next month
Bidx1, a leading Uk-based digital auction house, which has formed an association with Pam Golding Properties to establish operations in South Africa, is gearing for its inaugural auction on April 10.
Bidx1 South Africa will offer a full spectrum of properties with everything from residential to commercial, retail, industrial and agricultural property and investment portfolios.
Chief executive MC du Toit explains the Bidx1 auction concept: “Our auctions take place fully online and in real time. Every bid will be logged and displayed in real time and this record – along with the sale price – will be shown on our website historically and during the auction. The lead-up to the auction is the same as for auction floor or on-site sales but, in our case, the transactions happen online.
“The online auction market is growing among both buyers and sellers and has become a respected method of transacting, achieving market-related prices free of suspensive conditions. We believe this trend will increase, powered by the Bidx1 SA platform with its transparency and accessibility.”
Du Toit’s advice to bidders buying online through Bidx1 is: “Engage with the auctioneer and conduct due diligence prior to the auction.
“Our property experts will answer any questions – even about the most technical aspects of any property. Buyers must register in time to ensure all the necessary documentation is in place.
“Finally, we have a full support team to take bidders through the bidding process with examples of what will happen when bidding starts, so buyers will experience bidding simulation before the sale.”
The catalogue for the first BIDX1SA multiple property auction will be launched later this month.
To contact BIDX1SA, visit www. bidx1.com and click on South Africa, or go direct to https://bidx1.com/en/ countries/south-africa or contact Du Toit on mc.dutoit@bidx1.com.