Online auction industry booms with leading auctioneer concluding R1 billion in sales

/ MEDIA STATEMENT / This content is not written by Creamer Media, but is a supplied media statement.

The South African online auctioneering industry has shown its most impressive growth yet, with 2016 already far exceeding growth figures of previous years. Evidence of this is the fact that the country’s leading online equipment auction company, Clear Asset, recently broke through the R1billion in asset sales mark, which is an impressive figure considering that the company is just 4 years old.
 
An even more significant figure however is that over 50% of their equipment sales are going to overseas buyers, which shows that South African online equipment auction platforms are becoming increasingly attractive to global businesses. A main attraction for international business is that such platforms present opportunities to purchase high quality assets at favourable exchange rates, and have them shipped anywhere in the world.
 
In the last year alone, the company has achieved sales of over R500 million and shipped assets to more than 20 countries, firmly established itself as the leading online destination for the purchase of heavy duty assets within the mining, agriculture, scrap, maritime and aviation sectors.
 
The company recently expanded their maritime division with various large commercial vessel sales this year, including two 80,000 ton commercial tankers which sold for a combined value of over US$20 million. Upcoming maritime auctions include the Mv Fairy Tale in Durban and the 82,000 ton Bulk Carrier Mv Maverick Guardian in Namibia. Comments Clear Asset CEO Warren Schewitz, ‘’The number of ship arrests around the world has risen drastically over recent months as banks and creditors seek compensations from ship owners who find themselves unable to pay up on outstanding loans. South Africa has become a favourable jurisdiction and the skill set offered from both maritime attorneys and effective online auction solutions bodes well for international instructions.’’
 
The aviation sector is no stranger to online auctions, and stats show that there is now more activity in this space than ever before. The company recently concluded a private treaty sale of a Bombardier Challenger to a US buyer at an undisclosed amount.
  
On the mining side, Hitricon, a major mining contractor at Kumba Iron Ore’s Sishen mine, will be taking their selection of equipment to auction in coming weeks via the Clear Asset online auction platform. Hitricon has been operating on Kumba for over a decade and in the iron ore industry since 1989. Following the loss of a heavy earthmoving contract on Sishen, Hitricon selected Clear Asset to dispose of their equipment. The sale features a variety of quality equipment including Caterpillar Front End Loaders, Hitachi and Liebherr Rock Trucks and Shovels, and Komatsu Graders and Dozers. 
 
To meet the demand for more sophisticated technology, Clear Asset recently integrated their platform with Proxibid in a partnership to expose assets in Africa to North American buyers. Equipment listings on Clear Asset can now be seamlessly transferred to Proxibid, a leading global marketplace selling $4 billion of inventory per annum.
 
For more information and to view the list of assets going on auction visit www.clearasset.co.za