Auctioning your house means more exposure
A FEW people have asked me why I haven’t written much about house auctions yet.
The reason for this is that house auctions are a very specialised area. With the qualification I have from the South African College of Auctioneering, I am allowed to auction pretty much anything, with the exception of property.
Only people who have qualified as estate agents are allowed to sell fixed property on auction.
However, auctioneers can team up with estate agents and sell the contents of the property, while leaving the sale of the actual house to the estate agent.
Benefits of selling your property on auction include less waiting time for a sale, there are no long, drawn-out negotiations and the seller determines the lowest price, but prices can go much higher than anticipated.
Disadvantages include that you will have to pay a commission (if the property does sell) plus the auctioneer’s costs (regardless of whether it sells or not).
As the auction will probably be very widely advertised, also prepare for far greater “invasion of privacy” from interested buyers than with a normal house sale, where an estate agent would set up specific times with potential buyers.
Of course, this can also be seen as a positive, because it adds to the number of people who may want to buy your house.
International auction news
Next time you are thinking of tossing away an unused fishbowl you may want to think again.
One is up for auction at Bonhams in the UK next month for a breathtaking £500 000 to £800 000 (R8.1-million to R13-million).
If that sounds a bit fishy, there is a reason bidders are expected to dive so deep into their pockets for the prize – it is one of only six fishbowls known to have survived from the time of the 12th Ming emperor Longqing (1567-1572).
Decorated with mandarin ducks, geese, swallows and crested egrets in the rippling waters of a lake, it was used in the imperial court.
All other known examples are currently housed in museums – two in the UK, two in Japan and one in Russia.
It may be a bit extravagant for keeping little Johnny’s pet goldfish in, but is bound to appeal to collectors of Chinese historical pieces.
Upcoming local auctions
On Wednesday, Sheard Auctioneers will be holding the 17th annual Russell Clark production sale in Dordrecht. On offer will be 22 Tuli bulls and 18 Hereford bulls, as well as 30 heifers. Also Wednesday, BKB Auctioneers will auction vehicles, farm implements and machines, furniture and antiques at Green Pastures Farm in Uniondale from 10am.
There will be the regular Vigne and Howard general auction on Wednesday at 10am in Central, Port Elizabeth.
On Thursday, Van Rensburg’s Auctions will have a general movables auction at their rooms in Saffier Crescent, Tamsui Industria, George. The 10am auction will include restaurant equipment and household and office furniture.
On Friday, there are two bank repossession property auctions taking place in Port Elizabeth: at 329 Barberry Drive, Bethelsdorp, and 39 Visagie Avenue, Ben Kamma. Both auctions start at 2pm.
If you want to ask any questions about auctions, I will be at a garage sale at 3 Roberts Close, Sherwood, PE, from 9am to 2pm today.