Don’t get taken for a ride, SAIA warns

SOUTH Africans are increasingly on the receiving end of online vehicle purchase scams which promise unbelievable bargains but are in reality a ploy to lure unsuspecting victims, John Cowing, chairperson of the SA Institute of Auctioneers (SAIA), says.

“The scammers are active across many online sectors and have recently begun to target wellknown auction companies, stolen their identities by creating fake online adverts and web pages to swindle would-be buyers. In tough economic times, the temptation to save money at all costs can override better judgment.”

SAIA suggests potential buyers follow these safety tips to ensure that they do not fall victim:

♦ Auctioneers will never ask for a deposit for viewing purposes but will require a refundable deposit to register to bid. All bank-repossessed vehicles will be sold only via auction. The same usually applies to liquidations and insolvencies.

♦ Insist on an invoice with letterhead and company details, as well as a reference number, should you need to make payment. Make every attempt to verify account details.

♦ Verify you are dealing with the correct and legitimate company. Check the company’s contact details such as landline, email and physical address. Use Google and Google Maps to check.

♦ Establish how the auction will be conducted, how to log in and how the bidding will work. It should be simple and transparent

♦ Financial institutions will never sell vehicles before an auction.

♦ Also, do not engage in pre-auction negotiations, as none should be done before a vehicle is placed on auction. Auctioneers work on instructions received by sellers, such as financial institutions, liquidators, collectors and so on, who require legitimate auctioneers to fetch the highest bid at the auction.

When in doubt, contact SAIA to verify and establish whether the company is known to the institute and is a member of good standing.

For more details, contact SAIA’s Sonja Styger at 021 813 6342 or email sonja.styger@auctioneering.co.za. | Auctions Writer

The assets of Mugg & Bean’s Bayside Mall, alongside furniture and equipment from two other popular restaurants, at the mall will be auctioned by Langs on site on September 9.