Not everyone who participates in auctions does so because they’re looking for a new set of wheels for their personal use. More likely than not, most auction participants bid on auctions because they are looking to buy inventory at a good deal.
One man’s “accident” is another man’s inventory.
The above mentioned adage couldn’t be truer than when collision vehicles are concerned. If you thought that vehicles that have been involved in car accidents are not worth much, you’re off the mark. Did you know that those same collison vehicles are being bought and sold on auction as inventory?
SMD’s business model is set up in that they provide damaged vehicles and resell them to business owners such as Mr Mathebula by way of auction.
The Auctioneer met up with Mr Mathebula, the Managing Director of Siyabonga Panelbeaters and Spraypainting CC, who shared how he buys vehicles that have been involved in accidents via auctions and normal trades. He fixes the cars and then resells them to willing buyers who, upon inspection of the refurbished cars would never guess that the cars have been involved in an accident. Mr Mathebula has been running this business for over 20 years, in Emdeni, Soweto.
Both P&R Earthmoving and EarthComp provide moving, dismantled construction, mining and earthmoving machinery. They also provide the attachments and components of various earthmoving machinery. Most of the items that they sell are bought on auction and resold at affordable prices. Their offices are based in Delmas, Mpumalanga and Middleburg Mpumalanga respectively.
How then does one go about buying inventory on auction? And what can you do to make sure that you don’t miss out on any upcoming auctions? The Auctioneer has a directory of auction house listings that are updated weekly. You can also subscribe to their weekly newsletter here and get updates on upcoming Property, Furniture & Movables, Vehicles and Trucks/ Plant Machinery Auctions.