Newsletter - September 2010

DURBAN WILL HAVE ITS OWN CUSTOM BUILT VEHICLE AUCTION CENTRE

Our Durban branch is going ahead with the construction of a dedicated 4000sqm warehouse/auction and office premises in Riverhorse Valley on the North coast.

News of this development reflects the growing success we are enjoying in the KZN market where our vehicle auctions are attracting large numbers of bidders from all corners of the province.

“Clearly the word has gone out that Park Village has the answers to your vehicle auction needs and every auction we hold gets bigger and better” says Keith Green who runs our operation in that neck of the woods.                                                    

PVA GOES ONTO TV

Park Village is flighting TV ads for the first time in its long and illustrious history, underlining simultaneously that we continue to grow as we meet market needs and that we also recognise the need to move with the times as it were, backing up our other tried and tested marketing platforms.

Look out for them on M-NET, Discovery Channel and the Sports Channels.

AUCTION VEHICLES WON’T BE SUBJECT TO FUEL EMISSIONS TAX

The appeal of auction vehicles will receive a major boost with the news that Government’s fuel emissions tax on vehicles will not apply to second owner cars according to the AA.  

The fact that the new tax won’t apply to auction vehicles is very positive said PVA’s Clive Lazarus – he emphasises that the emissions tax is not to be confused with VAT which continues, as before, to apply to auction vehicles.

“Seemingly the idea behind the tax is to further the objective of reducing South Africa’s carbon footprint. It will impact particularly and obviously on heavier vehicles such as SUVs and MPVs and to a lesser extent on ordinary sedans, bakkies and the like for example

WHERE THERE’S MUCK THERE’S MONEY WHEN IT COMES TO SCRAP VEHICLE AUCTIONS 

Park Village Auctions’ scrap and non runner vehicle auctions are attracting a great deal of interest and both the number of lots and the turnout of bidders at the company’s Barney Rd premises is growing rapidly.

 “Clearly there’s a tremendous opportunity for bidders in this market, proving the old adage that where there muck there’s money” says PVA’s Graham Van Niekerk.

STRONG POST WORLD CUP DEMAND FOR TRUCKS AND HEAVY EQUIPMENT  

Park Village Auctions’ trucks and heavy equipment sales are still attracting buyers from every corner of the country and if patterns continue more bumper auctions are in the offing.

PVA’s operations manager LeRoy Augustyn says recent auctions of this nature resulted in a virtual sell-out of inventory with plenty of robust bidding and good prices being realised.

“It’s interesting to us that there has been absolutely no fall-off in demand following the World Cup which is what some commentators were predicting. That seems to indicate the country is now moving on and setting its sights on new horizons and that can only be good for auction opportunities.”

A TRANSPORT OF DELIGHT WHEN TATA FLEET WENT ON AUCTION RECENTLY

A virtually new fleet of TATA truck tractors featured in a recent PVA Truck, trailers and yellow metal sale.

WHEN THE GOING GETS TOUGH IN RESIDENTIAL PROPERTY…….

After an increase in home prices of 14,8% year-on-year in June according to ABSA Bank, conditions in the property market have softened once more  and indications are that excellent auction opportunities will continue to become available as homeowners remain under financial stress notwithstanding the further cut in interest rates.

Those with the resources and the foresight will be able to acquire properties at significant discounts relative to market value, suggesting that, in due course, they will show excellent investment returns as the market consolidates and then resumes normal growth. Some of the residential mandates received by PVA in recent months include:

Two properties in Norscot/Fourways and GalloManor/Sandton; properties in the Hartebeespoort Dam area, Northcliiff and Bassonia; a prime golf estate property in Dainfern; a multi level home in Waterkloof, Pretoria . “While the market may have peaked for the moment, good investment property is looking attractive” says PVA property guru Peter Havenga.

GAUTRAIN SPARKS OFF REVIVAL OF COMMERCIAL AND INDUSTRIAL PROPERTY MARKET

Against the backdrop of Gautrain commissioning, demand for industrial and commercial property in the likes of Kempton Park and Modderfontein is enjoying a revival. It’s in this context that PVA brought to the auction block recently a superb, up-market warehouse and two storey office building in the prime area of Founders Hill Kempton Park, zoned Industrial one.

What’s more, from a strategic positioning point of view the property could hardly have been better sited, being within easy reach of all major arterial road systems to the Reef and Pretoria  as well as OR Tambo International  and of course the Gautrain terminus which will enable easy commuting for workers and management alike. 

AND ELSWHERE ON THE COMMERCIAL PROPERTY FRONT …………..

Park Village Auctions recently acquired mandates for two attractive commercial offices in Woodmead East, Sandton and in Midrand.    Says Lawrence Wulfsohn of Park Village’s commercial property division: “There are some excellent opportunities to acquire high grade commercial properties in good areas right now.   We believe the market has bottomed and the acquisition of such opportunities ensures that buyers acquire an asset with real upside potential in the medium term as the economy in general continues to recover.”

MAJOR CHIPBOARD PRODUCTS PLANT COMES UNDER THE HAMMER

Where appropriate Park Village co-operates with other auctioneers. A case in point was the recent joint sale, with the Michael James organization, of the entire factory contents of the Mthatha, Transkei based wood panel and chipboard manufacturing plant of Magnaboard and East London based Formalchem, which supplied formaldehyde resins to Magnaboard and other users.

MULTI FACETED OPPORTUNITY WHEN DIAMOND CUTTING WORKS WENT UNDER THE HAMMER 

A many facted business opportunity presented itself with the liquidation of a diamond cutting works and its assets based in Johannesburg. The sale involved the company’s cutting and polishing equipment, as well as a host of miscellaneous items and office equipment that attracted good bids.                                                                              

Further proof of PVA’s widespread expertise is to be had from the variety of mandates received in recent weeks including a family business in the Hartebeespoort area including a small supermarket, garage/workshop/ and small scale farming; a gearbox reconditioning company’s assets including gearbox repair equipment,  test benches, assembly tables, etc;  supermarket effects in the Randpark Ridge area sold by way of piecemeal and a prime game lodge near the Botswana border complex with game, two luxury camps, and a well equipped lodge.

LOTS OF OFFICE LOTS

There have been plenty of good pickings at Park Village Auctions office furniture and effects sales recently when lots drawn from various liquidators, trustees and repossession managers came under the hammer. The lots are generally of high quality and there is an excellent variety which appeals to a broad market base from start-up companies to private individuals with Small Office Home Offices or indeed corporates of all sizes who are in need of new equipment and office infrastructure.

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