Online capital asset auctions offer ‘absolute transparency’
South African capital assest online auction company Clear Asset says that the use of an online platform for the auction of high-value capital assets in the mining and construction sectors ensures greater transparency and security than the traditional auction format.
The new-to-market company, which offers clients an online portal through which assets can be viewed and bids submitted, asserts that the portal offers superior tracking of viewers and their bids, ensuring complete market intelligence for sellers and buyers, regardless of their location.
“The technology ensures absolute transparency,” CEO Warren Schewitz told Engineering News.
“We are able to advise sellers on the interest in an asset before the auction day, as well as the market’s feedback on pricing.
“In addition, we have removed the need for buyers to be out of the office for an entire day, enabling potential buyers to track the value of other bids, as well as bid themselves, regardless of their location.”
Clear Asset’s most recent online auction, on March 7, saw confirmed sales of yellow metal from opencast mine Diesel Power, as well as drill rigs and roof bolters from Anglo American Platinum, totalling R13-million.
In addition, the company achieved sales of R35-million from an auction in November. International buyers represented 46% of the overall buyers.
Clear Asset MD and cofounder Ariella Kuper added that 71% of buyers in its most recent auction were international buyers, demonstrating the portal’s ability to function in multiple industries and on multiple continents.
“The result is that companies receive maximum outreach with a fully managed end-to-end process,” she said.
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