“It’s a win-win for everyone,” that’s the word from Park Village Auctions’ Director, Clive Lazarus, as he announces a groundbreaking format for their upcoming online auction of ABSA bank repossessed vehicles.
Park Village Auctions has announced a national auction of genuine ABSA bank repossessed passenger and commercial vehicles with a twist. This exciting new format allows for “pre-bidding” before the main event.
The new format is said to be a country first. It allows bidders to place preliminary bids online before the thrill of closing off the auction in a live webcast auction. “Call it a place and park bid, if you will,” says Lazarus, who continues, “A bidder can review the assets on offer at their leisure. They can place starting bids on their wish list assets (and go back incrementally to increase their bid if someone else is contending) or lodge a maximum bid.
“To close off, we then switch gears to everyone’s favourite format: the ‘going, going, gone’ in a live webcast auction. Those with the highest bids get to battle it out in real-time online, and the sale is thus concluded swiftly.
“Bringing these benefits together creates an exciting new format that caters to everyone’s auction appetite. For car dealers in particular—who often purchase numerous vehicles—this is a dream come true,” Lazarus explains.
Bidding will open on Monday the 8th of March from 10am in the form of a timed online auction for 24 hours. Here, the bids are not contested in real-time can be placed at any time during the period.
Following Tuesday the 9th of March from 10am sharp, the proceedings culminate in a live, webcast auction where the bids will be closed in lot order.
Assets to be sold comprise passenger and commercial vehicles ranging from entry-level hatchbacks and utility bakkies to luxury sedans, 4x4s and SUVs.
The assets are located at the ABSA trade centre, 8 Top Road, Anderbolt, Boksburg, for viewing. It must be noted that viewing is strictly by appointment only on the 5th and 8th of March, in line with stringent COVID-19 safety protocol.
For a detailed catalogue, inventory list and pictures, rules of the auction, tutorials, registration, or to make a viewing appointment, visit www.parkvillageauctions.co.za.