Live Onsite Auction
- Ballroom Auction
- Closed “by invitation only” Auction
- Catalogue Auction
- Live Online Auction
- Online Timed Auction
- Online Listing
- Closed Tender Auction
- Private Treaty Sales
To execute our mandate of the disposal of assets for the seller, we rely on two modes of sale, auctions and private treaty sales.
Auctions are our preferred method of sale as it allows for competitive bidding and results in better monetary value for the seller. It also allows the buyer to buy at a price that the buyer is willing to pay, rather than dictating a price to the bidders.
Private treaty sales are also used however they are not a competitive process. This process establishes a price at which the asset is to be sold and it is our purpose to source a buyer for the asset at the price that the seller has determined.
LIVE ONSITE AUCTIONS
Live onsite auctions are most common in the world today. This is because this method of auction has been around for more than 100 years and people are familiar with the processes involved. Both buyers and sellers have confidence in the process. The only drawback for the bidder is the amount of time spent attending the live auction. There are also drawbacks for sellers in that strangers must be allowed onto the premises of the seller in order to participate in the auction and this can have security and health and safety issues.
Online auctions are replacing live onsite auctions in almost every country in the world. This is no different within South Africa. This is because selling online has some added benefits that a live auction cannot deliver, convenience, time saving, cost saving, economies of scale plus many more.
Because bidders can attend an online auction using familiar technologies, it makes the auction process less intimidating especially to bidders who are new to the auction process. It also attracts the next generation of bidders, those that do the bulk of their purchasing using the convenience of online shopping. This allows the current technology infused generation to attend auctions, which they do not if they are forced to attend a live onsite auction.
It also attracts the next generation of bidders, those that do the bulk of their purchasing online. These buyers do not attend live onsite auctions and thus do not participate in live onsite auctions thus reducing the number of potential bidders on an auction.
Because live onsite auctions do not attract most of the current generation of bidders, this reduces the number of attendees at a live onsite auction and thus makes it difficult to achieve true market values for the assets on sale, thereby making online auctions the method of auction sale of the future.
Because online auctions are not limited to a geographical area, they allow bidders from all over the country or even the planet to purchase assets listed on an auction. This enables a bidder that resides in one province to make a purchase in another province without having to incur the costs of attending a live onsite auction.
Online Auctions will never entirely replace live auctions however due to the desire to reduce the cost of an auction and the fact that a bidder has limited time, online auctions are starting to become increasingly more popular.
FORCED SALE SERVICES
4 Dimension Auctions has our own in-house liquidators with the necessary legal experience to handle all forced sale processes e.g. liquidations, sequestrations, deceased estates, divorce estates, etc. We pride ourselves in providing the correct advice to the insolvent, trustees, etc taking into account the unique criteria of every matter that we handle.
We also have our own inhouse Business Rescue Practitioner. This allows us to provide a one stop, comprehensive solution when placing a company into Business Rescue.