Auction Inc climbs on board

Posted On Wednesday, 23 November 2011 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

New auction house, Auction Inc, launched this month plans to hold its first multiple property auction early next year which will be followed by a national roll-out of the company

AuctionIncThere is a definite indication that South Africa is following suite with the world-wide trend by turning toward sale of property by way of auction. 

Co-founder, Paul Winterstein (CEO), son of Eddie Winterstein (former Chairman and founder of Aucor) has the vision and expertise to ensure Auction Inc meets the ever-changing needs of both buyer and seller in our economic climate. A “boutique auction” house designed to "do things differently" is exactly what the market needs.

The company’s planned growth path will include offering auctions across-the-board on a national basis, with a special focus on industrial, commercial and residential property. “We are confident we can offer the market a level of service never experienced before in the industry. Our aim is to synthesise the old and the new by capitalizing not only on our extensive experience but to involve our team of young professionals eager to live up to their reputations.

The expertise Mr Winterstein plans to offer to the industry includes that of Mike Nkuna (Chairman), who established the Masingita Group of Companies. The latter’s subsidiaries has been involved in property development and management as well as construction in SA since 1986. Through these subsidiaries Mr Nkuna has developed six shopping malls on his own and a further four through Masingita Properties Holdings. The latter is an investment company of which he has a 65% share holding and Nedbank the balance.

“More and more individuals have the drive and vision to invent their own business with a primary focus on partnerships with key players in the industry. Such a method is distinct from the traditional corporates which are run in silos. This is where we are at, and we believe we differ from our competition. “ Auction Inc intends to service this trend by delivering a total package which provides financial and investment benefits to clients.

This evolution in the property market is promoted by the co-founders of the company who have credentials in all facets of real estate and auctioneering. “On average it takes six months to sell a house in today’s retail market. Generally, this puts pressure on the owner who because of financial constraints, needs to dispose of his property urgently. Putting the house on auction is the alternative.

Our product is designed to ensure that the entire sales process takes no longer than 21 days from the moment the marketing campaign is initiated.” “We are committed in such a way as to ensure that he is not just a number – be he a first time buyer or seller. Time is money so our response time with us is Immediate.

Our in-house system has specifically been designed to process all aspects of the property analysis within record time. This documentation allows the seller to make an informed decision in quick time.” “For clients convenience satellite offices will be established in the greater Gauteng – these facilities will broaden our service capability and guarantee customer satisfaction.”

Last modified on Monday, 11 November 2013 09:44

Most Popular

Should you rent or buy your business premises?

Jun 23, 2022
Malusi Mthuli_FNB
This is a question that most business owners will face at some point in their journey.…

April 2022 Hotel Accommodation Income Statistics continue to show a very weak picture compared to pre-lockdown times.

Jun 23, 2022
Hotels Monthly Income 2022
The StatsSA release of April 2022 preliminary monthly tourism statistics show the Hotel…

South Africa’s inflation exceptionalism: can it last?

Jun 23, 2022
Carmen Nel
South Africa is often seen as a high-beta play, be it regarding financial market risk…

Hyprop continues to reduce debt and reposition its portfolios in SA and EE

Jun 30, 2022
Skopje City Mall Playground
Hyprop, which manages dominant retail centres in mixed-use precincts in key economic…

Vaal Mall rolls up its sleeves for pothole repairs

Jun 30, 2022
Vaal Mall crew busy repairing the various potholes making easier access to the Centre.
Vaal Mall is showing their commitment towards their community by stepping up to repair…

Please publish modules in offcanvas position.