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Webcast Auction Sells Repo Cars in a Few Clicks

Park Village Auctions has announced their first lockdown live webcast auction, held on Wednesday the 27th of May, a success as scores of genuine bank repossessed cars were sold “in a matter of clicks”, says head auctioneer, Clive Lazarus.

In response to stringent safety measures imposed under lockdown business conduct laws, PVA has been quick to pivot their auction model to an almost entirely virtual experience.  

The company’s first live webcast auction was held online, where bidders exchanged raising their hands for clicks. Clive Lazarus, the auctioneer, conducted proceedings “as normal” to his digital audience, namely, a camera and a screen.

 “We are pleased with the success of the day—and we are relieved to be back behind the gavel!” says Lazarus who reports that the auction was well-attended and prices fetched were “highly competitive”. Lazarus also says that the prices realised were in line with what the auction house expected, in light of the current state of the market. He says that the results are “good and solid, in any respect.”

Notable vehicle auction prices achieved include:

  • A 2017 Audi Q7 3.0 (50 154 km’s) sold for R525 000
  • A 2015 Landrover Evoque 2.2 SD5 Dynamic (100 038 km’s) sold for R285 000
  • A 2016 Toyota Hilux 2.0 VVTi (81 961 km’s) sold for R105 000
  • A 1024 Honda Brio Mobilio 1.5 comfort  (199 238 km’s) sold for R50 000

All prices exclude VAT and buyer’s commission.

Speaking of the attendance, while there were some sixty registered and authorised bidders (a deposit is required to participate) PVA’s system saw over a thousand hits from viewers watching the proceedings.

Lazarus is particularly proud of the technical feat achieved with the live webcast and real-time bidding performing, “flawlessly”. PVA was the first auction house to introduce online bidding to South Africa, and the company considered it a responsibility to lead the industry’s technological charge ever since.

Hinting at what next we can expect to see from PVA, Lazarus lets on that his team has numerous digital and physical solutions to overcome the hurdles caused by lockdown protocols. Those who still prefer to attend in person should keep their eye’s peeled on PVA’s website, and social media feeds to avoid disappointment.

As for the next vehicular auction on the cards, PVA already has a bevvy of trucks, trailers and earthmoving and agricultural equipment commissioned for sale. The details will be released soon.

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