Gavin Watson's BMW sells for R590,000 at auction
Hundreds of bidders - many from car dealerships and logistic companies - attended the auction of assets belonging to several African Global Operations (formerly Bosasa) entities in Krugersdorp, west of Johannesburg, on Wednesday.
The late Gavin Watson's blue 2016 BMW X5 sold for R590,000.
Shortly after buying the car owned by the founder of Bosasa - who died in a car accident two months ago - the bidder left and refused to take interviews.
Another pricey vehicle was a 2016 Mercedes Benz C250, with 95,640km on the clock, which sold for R255,000.
The buzz of the auction saw good prices being bid, even on vehicles with high mileages, including:
- a 2007 Toyota Hilux 2.5 single cab with 563,760km on the clock for R78,000;
- a 2013 Hilux SRX with 212,564km for R124,000; and
- a 2011 Audi S5 Sportback with 169,505km for R125,000.
A substantial assortment of goods is being sold at the auction over three days this week, ranging from an entire copper plant to various commercial properties.
Wednesday saw the sale of passenger and commercial vehicles, with the latter including various closed-body and refrigerated-body trucks and tractors.
Park Village Auctions and Bidders Choice received the instruction from the appointed liquidators to dispose of assets, which stem from subsidiaries of African Global/Bosasa in liquidation.
The companies in question are Global Technology Systems, Bosasa Properties, Rodcor, African Global Operations, Watson Corporate Academy, On-IT-1, Bosasa IT, Bosasa Supply Chain Management, Leading Prospect Trading 111, Bosasa Youth Development Centres and Black Rox Security Intelligence Services.
Bidders started registering as early as 9am on Wednesday, braving a cold and rainy morning in search of bargain vehicles. Some came from as far as the Western Cape, Limpopo, KwaZulu-Natal, Eastern Cape and Free State.
Aubrey Mulaudzi left Limpopo at 3am this morning to make the registration time. He owns a car dealership and vehicle workshop in Thohoyandou and was planning to buy at least three or four vehicles for his business.
"So far vehicles are going for too much. The prices are still too high ... I can understand it's auction fever," he said.
A logistics company owner, who didn't want to be named, also complained about the prices. "My worry is that people just come and bid and end up buying cars they could have got cheaper at another place," he said.
Another bidder who didn't want to be named said he simply wanted to own a piece of state-capture history.
"This is historic for our country. Can you imagine driving down the road in a Bosasa vehicle?" he said.
Bosasa had gone into voluntary liquidation in February following their banks announcing they would be closing all of the company’s accounts due to corruption allegations. Bosasa subsequently tried to reverse the liquidation but the Supreme Court of Appeal (SCA) upheld an appeal by the provisional liquidators to keep the company in voluntary liquidation, which paved the way for the company’s full liquidation.
In a last-ditch effort to stop the auction of millions of rands in assets, African Global Holdings on Tuesday filed papers in the Johannesburg high court asking to be placed under the supervision of business rescue practitioners.
George Goodes of Goodes and Seedat Inc. Attorneys confirmed to TimesLIVE on Wednesday morning that they represent the company and had filed papers.
"The auction today is illegal ... My client filed for business rescue ... Filing papers for business rescue nullifies today's auction," claimed Goodes.
He said they have written to the liquidator's lawyers but have not received a response.
"My clients are considering to launch an urgent court interdict to stop the auction."