THE EXCITING WORLD OF FULLY ONLINE PROPERTY AUCTIONS NOW IN SA
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Monday 4th of February 2019
UPDATE: Pam Golding Auctions has just launched its new Online Property Auctions Platform.
By Gaye de Villiers
With the latest, custom-designed technology, together with valuable insights and specialised knowledge from the experts, you can now participate and transact in a property auction totally on-line, in real time – and without having to physically attend the auction itself.
This is possible with the launch of BidX1 South Africa – in association with Pam Golding Properties – which through their website, www.bidx1.com, enables anyone to buy or sell property on auction in a secure and transparent manner and at a market-related price.
This pioneering digital auction house enables registered bidders and the public to view the property auction as it unfolds in real-time, seeing exactly what others are bidding, and from any digital device, from anywhere in the world.
Leading local property auctioneer and CEO of Auctions & Sales for BidX1 South Africa, MC du Toit, who has an impressive track record in the industry, says the launch of BidX1SA is a game-changer for the property auction industry in South Africa.
“Digital disruption has taken the world by storm, no less so here in South Africa, where the property industry lends itself to on-line auction bidding.
“There is an appetite for such change, from consumers who have seen technology enhance so many other areas of their lives. This process is convenient, accessible and efficient, and is backed by a global company whose innovation and proven track record speaks volumes.”
Success breeds success
It certainly makes perfect sense that digital appeals to the auction market. BidX1 is based in the UK, where, since being established in 2011, it has sold over 7 000 properties, raising over EUR1.4 billion.
This is already the second largest commercial and residential auction house in the UK and Ireland. And it’s expanding its footprint, not only in the UK and South Africa, but also Southern and Central Europe, with a recently opened office in Cyprus and Spain coming on stream in 2019.
BidX1SA will offer on auction a full spectrum of properties from residential to commercial, retail, industrial and agricultural property and investment portfolios.
Bidders from around the world
For sellers, via ground-breaking technology, they now have access to previously unseen levels of speed, transparency and world-wide exposure, while buyers and investors have the ultimate convenience of being able to bid and transact in minutes, from wherever they are globally. You can bid from the comfort of your home, on holiday, in-between meetings, even in the middle of the night, depending on your location and time zone.
BidX1 SA’s first auction will be held on Wednesday April 10, 2019, with an exciting array of properties to be presented. The catalogue of properties will be launched in early March 2019.
Trust is key
This platform provides a foundation of trust for both buyers and sellers, with legal documents available for inspection online prior to auction and properties able to be viewed on site as required.
Specialised knowledge and advice
MC points out that BidX1SA has all the relevant information available on the property, and can therefore give sellers and buyers the guidance and information they need to make the right decision.
Says MC: “Every bid placed during the sale of a property is logged and displayed in real time and along with the final sale price, can be viewed publicly on the website.
“So buyers are assured they are competing against genuine parties who have completed the same process as themselves. They can see competing bids as they come in and accurately assess demand for the property.”
They also know that the successful buyer will instantly enter into a legally binding contract once the lot is sold as BidX1SA signs contracts on their behalf immediately.
Posted by Niki Jackson