The community of Vosloorus in Gauteng played host to the country’s first-ever recognized auction recently when local bidders went head-to-head for a host of goods ranging from used appliances to equipment and collectables.
Incredibly it has taken thirty years since South Africa’s first democratic elections to hosting formal auctions and judging by the amount of interest it has garnered from the close-knit community it certainly will not be the last.
The icebreaking event was held by the aptly named, Lokshin Auctions, with the full support and encouragement of the South African Institute of Auctioneers (SAIA) and supported by some of the country’s best-known member auctioneers including Park Village Auctions, Auction Operation, Dynamic Auctions and Aucor.
Lokshin Auctions founder and SAIA head of the transformation committee, Tsitso Setai, has made it his passion to bring accredited professional auctions to the townships where the majority of dwellers have not been exposed to auctions and not benefitted from the many advantages of buying and selling assets on auction. Initial investigations by SAIA’s transformation committee had revealed that few people understood the auction process and were sceptical of its trustworthiness.
