The online mining auction is rapidly gaining traction as a more effective and efficient way to sell commoditised items as proven by South Africa’s major mines in the last few years.

However, for the first time on an SA auction, aluminium cathodes (160 tons) will join the online list coming direct from Skorpion Zinc (Vedanta) in Namibia as mines look for further outreach to ensure fair market value is achieved for their redundant assets and spares.

Yet, grabbing top spot position for attention on an upcoming online auction is a multi-million Rand Powerline 888 yacht that has been donated by philanthropist and business guru Jochen Zeitz, with all proceeds going to the Zeitz Museum of Contemporary African Art  (MOCAA). Made for pleasure and entertaining, the yacht Blue Magic is a ‘one off’ built and designed by Holland’s top boat builder Moonen. She holds 15 people with ease boasting modern designs and ideal for Clifton sunset cruises, corporate eventing and decadent private parties. The auction will be hosted by Clear Asset.

With an extensive array of assets taking to the online auction floor on 27 August and 3 September, online auction house Clear Asset appears to be responding to market demand and conditions. “Rather than reactive knee jerk auctions where we sell whatever stock comes our way, we are looking for plant and equipment that our buyers need in this market and sellers are willing to dispose of,” says MD Ariella Kuper.

On the mining front, one cannot overlook the tumultuous conditions that prevail both locally and internationally. Headlines talk of retrenchments and labour unrest, whilst titans of industry look for new methods to improve productivity and quality.

As a result, on the disposal front, opportunity is abound for discerning buyers looking for older equipment that is well maintained or will still provide several years of loyal service. Alternatively buyers are expressing strong interest for the components and parts as part of rebuilding and refurbishing other equipment.

For a countrylike South Africa, redistribution and transformation remains high on the agenda of every corporate and such assets as seen coming onto tis digital auction floor ensure fair purchasing access to all participants whilst relieving pressure and freeing up working capital for institutions across all sectors.

Visit www.clearasset.co.za for more information.

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