Park Village Auctions’ 2023/4 Outlook

Reflecting on 2023, Park Village Auctions (PVA), a leading South African auction
house, offers insights into the state of the industry and provides a cautious outlook
for the coming year.
Director Roy Lazarus says that while 2023 saw an encouraging decrease in
liquidations with assets, the ongoing challenges of loadshedding and water
shortages cast a shadow over the economic landscape. “Uncertainty remains a
significant factor, and with it, the potential for liquidations and business rescue
operations to rise,” notes Roy.
Looking at buying behaviour, Roy points out that bidders are more informed and
discerning, becoming “increasingly knowledgeable about what they want and are
prepared to pay a fair price.
Going into 202, Roy says, “Our advice for participants in 2024 is to secure financing
beforehand to avoid missing out on valuable opportunities.”
PVA will start the new year with enhancements on its online auction platform as the
format that has proven highly successful. “Online auctions offer unparalleled
convenience, allowing buyers to participate from anywhere in the world,” said Roy.
According to Roy, the team has focused on user experience, making the bidding
platform simple and user-friendly.
Roy says of trends and hopes for 2024, “We’ve also seen a growing number of
international buyers, which could be a promising sign of investment revival.”
Despite concerns, PVA remains optimistic about the future of the South African
auction industry. “We are constantly innovating and adapting to market trends,”
asserted Roy. “By leveraging our expertise and embracing technology, we are
confident in our ability to navigate any challenges and continue to provide our clients
with exceptional service.”
In closing, Roy affirms PVA’s dedication to excellence and weathering any storm with
its clients. While 2024 may be shrouded in uncertainty, PVA has lined up scores of
auctions starting as early as 9 January 2024, which can be found on
www.parkvillageauctions.co.za.