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ABSA Vehicle Auction To be Cast Live From Gqeberha and Bloemfontein

After debuting an exciting new auction format on behalf of ABSA bank only two weeks ago, Park Village Auctions will host yet another hybrid online auction starting on Wednesday the 24th of March.

This time around, the sale of verified ABSA prepossessed vehicles will be cast live from Gqeberha (previously Port Elizabeth) and Bloemfontein, where the assets are based.

The hybrid format combines two popular online bidding methods, namely pre-bidding and webcast. It allows participants to “park” preliminary or maximum bids on their desired assets ahead of the live auction where the highest bids are contested—and the sale is concluded—in real-time.

“Due to the sheer volume of vehicles available (over 200), this hybrid format makes it easier for bidders to pinpoint their options ahead of the ‘main event’,” explains PVA’s Clive Lazarus. He says the prelude takes care of opening bids so that the live event goes faster.

Since the vehicles are located between Gqeberha and Bloemfontein, the online format enables national participation. Lazarus encourages bidders to send a trusted representative to view their potential purchase ahead of the sale. Viewing will be held on Tuesday the 23rd and Wednesday the 24th from 9am to 4pm at the following venues:

  • Gqeberha: ABSA Vehicle and Asset Finance Trade Centre, 142 Burman Road, Deal Party, Gqeberha (Port Elizabeth), Eastern Cape.
  • Bloemfontein: Park Village Auctions Bank Asset Disposal Centre, corner of R64 and Valencia Road, Waterbron, Bloemfontein.

Pre-bidding begins on Wednesday the 24th of March at 10am, followed by the live webcast auction on Thursday the 25th, also commencing at 10am.

Registrations to participate close at 9am on the 25th. To register and for more information, visit web reference 697.


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