The Auctioneer website and email list is all about the auctions, each week we bring you every type of auction you can find in South Africa. While we know that the stock is what you want to see, we think it’s time you meet the Auctioneers who bring it to you. For our third interview we’re really proud to introduce Jaco De Jager, Director at NUco Auctioneers… lets see what he has to say…
Give us a little back-story to your business.
Nuco Auctioneers, founded in 2007, is formed with the vision to create an auction house with a difference. Our aim is to bring together the best people in the industry. The strategy to search for outstanding performance and success has resulted in the coming together of a brilliant team.
Our senior management has combined experience of more than 30 years in the field, setting this venture up for success from the start. On the administrative side we have highly experienced and qualified staff. We develop, train, and uplift our employees, in turn ensuring we deliver only the best service.
The company is linked to a vibrant client base on a national and international level. By employing the best people at Nuco Auctioneers, we ensure you enjoy the highest possible standard of service.
We represent both buyers and sellers, ensuring that real market prices are achieved.
Nuco Auctioneers is a registered member of the South African Institute of Auctioneers [SAIA).
Do you have any pertinent lessons from your early years that have stayed with you ever since?
At Nuco, we hold our values (trustworthiness, integrity, excellence & respect) close to heart and in how we conduct business. Other lessons include etiquette & persistent customer service.
What is your biggest achievement you celebrated as a company?
As a company there are a lot of achievements that can be celebrated both on a professional and personal level. The opportunities that we have had in hosting Cross Border & International Auctions, including Namibia, Mozambique, Australia, Oman & Dubai, have played an integral role in expanding our customer reach and interest.
Have auctions changed much over the years?
Yes, the auctioneering industry has most definitely changed and evolved over the past few years. The demand and interest of the market is more variable, and the auctioneering companies are constantly having to adapt their auctions to meet the customers’ needs and preferences.
What are the major differences?
There are many differences pertaining to the specific part of the entire auctioneering process from advertising to selling the assets. For Nuco specifically, our biggest change has been that we now target majority end-users and we ensure quality products at more competitive rates.
Anything that has been lost along the way that you would prefer to get back?
No, the world is constantly changing, and the consumer demand is a lot different now than in the previous years. Any changes that we have implemented or have adapted to, have been positive to both the buyer and the seller, resulting in the auctioneering trade growing into a more lucrative market.
Any change that has been positive?
Looking back now, COVID-19 could be seen as a “make or break” situation for many companies and due to the unforeseen circumstances, Nuco has had to adapt to the challenges presented by the pandemic. In adapting, we have been able to expand our reach to our customers even more and in the same way, our cross border and international client have gained more accessibility to Nuco.
In your opinion, what has been the key to your success?
Dedicated staff & the values of the company.
Who calls the bids at your auctions?
The Auctioneer and the team of auction spotters
Can you call bids?
Have you (or any of your other bid callers) ever entered a bid calling competition?
Can you explain why the auctioneer chant works?
It’s all about the vibrant energy installed into every bidder when buying an item. The Auctioneer sets the pace and creates momentum, allowing the buyers the opportunity to participate.
How would you define a successful auction?
To us a successful auction as well as our aim is to increase our buyers’ buying capacity and the number of registered bidders per auction. It is essential for us to supply quality stock which then leads to a successful sale for both the buyer and seller.
What makes a great auctioneer?
A person who can read the crowd and interact by making the experience for the bidder as personal as possible.
If you had a piece of advice for an auctioneer starting out now, what would it be?
Staying persistent through the good and bad times and always conduct ethical business.
What is your take on the auction industry in 2020? Before Covid-19 and its effects.
Nuco has experienced tremendous growth in the auction industry throughout the last couple of years, of which 2020 was no different and our auctions have become bigger and better.
How do you feel about online auctions?
Live yard auctions will always be a preference with us, however, having to comply with COVID-19 regulations, our success rate has not decreased. How things look at the moment, online auctions are unquestionably the future of auctioneering during COVID.
Talking about COVID-19, what are you up while we’re in lock down? Did the weeeks of reflection made you consider making some changes to how you do things?
During the initial shock of lockdown, we as a team had to brainstorm and come up with solutions and new strategies for the online auctions. As the auctions come and go, we have been refining what works and what does not in order to increase efficiency and to continue providing our buyers with excellent service.
Where do you think the auction industry will be in 1… 5 years?
When the announcement of lockdown happened on 23 March 2020 it seemed logical to predict that the auctioneering trade would be challenged for the next couple of months. Many predicted that a lot of stock would become available in the market therefore the concern was that we wouldn’t have the buying power – how wrong was that prediction. Stock has become much less available and in absolute demand, so if the prediction of the last 5 months was so mistaken, how can we predict the next 5 years. We believe that the next 5 years will be just as exciting as the last 5 years, and further we believe that the auctioneering trade will adapt even further as in recent years.