Bargain hunters flood Bosasa
NOT EVEN the incessant Joburg rain could stop bargain hunters from trying to get their hands on the Bosasa loot.
Yesterday, more than 1 000 bidders descended on the African Global Operations (AGO), formerly Bosasa, Krugersdorp campus, to try their luck and buy vehicles and other assets up for grabs at the three-day auction.
AGO applied for liquidation in February after banks announced they would be closing all of the company’s accounts because of corruption allegations.
The money from the auction will go towards repaying its debts to creditors and the tax authorities. According to Park Avenue Auctioneers, the goods are supposed to fetch up to R65 million.
Last month, the Supreme Court of Appeal (SCA) found in favour of keeping the company in liquidation, emboldening the auctioneers, who had already started advertising the event.
AGO tried to reverse the liquidation but the SCA upheld an appeal by the provisional liquidators to keep the company in voluntary liquidation.
The campus yesterday was flooded by seasoned bidders, mostly businesspeople who wanted to buy supplies at cheaper prices.
One of them, Sammy Mashita, bought two bakkies for his mobile toilet business. For the vehicles, he paid R307 000.
Property developer Andrew Graham said he planned to spend R20m on the three-day auction.
“I want to bid for Lindela (Repatriation Centre)… but I also want to buy furniture,” he said.
The biggest buys for the day were luxury vehicles that belonged to Watson. His blue BMW X5 with damaged rims and a mileage of 53 561kms sold for a hefty R590 000, and a 2013 Porsche Cayenne with 118 744kms on the clock sold for R500 000. Buyers of the cars declined to be interviewed. A Mercedes Benz C250 which clocked 95 640kms was also sold for R255 000.
The three were part of seven cars that were used by staff members and sold under the condition that they could be sold to them in the next seven days.
Among the bidders were some of the former AGO employees. Employees stationed at the soon-to-be auctioned Mogale Child and Youth Centre said it was bittersweet seeing the company go up.
A worker said she would bid for furniture: “I want to buy a TV and some of the decor stuff. I want the TV because I know that they are still new and have hardly been used.”
Today, the auctioneers will put Lindela Repatriation Centre – which is the biggest property on 26.5 hectares of land and including a residential development with nine large buildings, a workshop and a soccer field – under the hammer.
AGO headquarters in Krugersdorp will also be up for sale. It features a large office park, offices, a restaurant and canteen, a warehouse and other buildings on more than 8.2 hectares of land.