Park Village Auctions and Bidders Choice have concluded the auction which saw the sale of assets stemming from the liquidation of several subsidiaries of African Global Operations – formerly Bosasa.
Bosasa is a South African company specialising in providing services to government, most notably prison services. It is controversial for its involvement in corruption allegations exposed during the Zondo Commission of Inquiry.
The accused company was recently ruled commercially insolvent and put into the hands of its liquidators, who contracted Park Village Auctions.
The auctioneer said that between 4 and 6 December, more than a thousand registered bidders made their way to the former Bosasa headquarters in Krugersdorp. Some were seeking to pick up high-quality assets at bargain rates, while others wanted to claim their piece of scandalous South African history.
Items for sale included:
- Three high-profile properties and a copper plant;
- Hundreds of passenger and commercial vehicles;
- Commercial containers;
- Office equipment and furniture; executive suites;
- Opulent household furniture and designer décor;
- Catering, workshop, garden and state-of-the-art security equipment.
In total, Park Village Auctions reports that over a thousand lots made up of the properties and the plant, machinery, equipment, vehicles and other movables fetched approximately R100 million excluding VAT.
“We are pleased with the outcome of the auction and honoured to have been the liquidators’ choice auctioneers,” it said.
“We trust that the realisation of these assets goes a long way in assisting the joint liquidators with their mammoth task of putting this concern bed.”
Day one saw buyers purchase a number of cars including various Toyota models (such as Hilux, Fortuner, Avanza, Corollas, and Quantum), bakkies and minibuses as well as luxury vehicles that had been issued for personal use.
Among the luxury vehicles, the infamous blue BMW X5 driven by the late Gavin Watson sold for R590,000 excluding VAT and commission.
Other noteworthy vehicle sales include a 2016 Mercedes Benz C250 (95,640km) sold for R255,000—well below the average used selling price.
Park Village Auction’s Graham van Niekerk said that online vehicle bidding alone fetched over R2 million.
Day two of the auction saw the three fixed properties on the block.
The Smart Global Campus premises, the head office of AGO/Bosasa operations, fetched R14 million excluding VAT and commission.
The Lindela Repatriation Centre sold for R60 million ex commission and VAT.
Lastly, the property on which Rodcor, the ‘to-be-commissioned”’ copper plant stands sold for R11.5 million excluding vat and commission.
Furniture, Art and Equipment
From the remaining assets sold over the course of the auction (the bulk of which was sold on day three), some noteworthy sales included:
- The contents of the “prayer room” comprising three black leather tub chairs, two leather two-leather couches, a coffee table and carpet sold for R40,000;
- A framed painting by “Shepard” said to be one of the works of a Bosasa Youth Development centre beneficiary, sold for R2,000;
- An 18-seater call centre suite comprising 18 divided workstations, chairs and assorted letter trays, R14,000.
While most people attend auctions as a means to acquire quality second-hand assets at fair prices, the nature of this sale and the controversy surrounding Bosasa saw some record sales, Park Village Auctions said.
An industrial Nespresso coffee machine, with assorted crockery, sold for R96,000. It is said that the buyer purchased several additional coffee machines from the sale.
An attractive and well-maintained, glass-top U-shaped boardroom table; twenty executive leather chairs; a magazine stand and a flip chart sold for a collective R242,000.
You can find a full list of everything sold at the auction here.