Engineering Auctioneering Safety Checks

Engineering News

Some research before entering into a transactions with an auctioneering company can avert disappointment and problems that may occur through dealings with unprofessional or unscrupulous auctioneers.

Engineering companies should note that rather than jumping headlong into the bidding process or putting up assets for auction, Sonja Styger, chief administration officer of the South African Institute of Auctioneers (SAIA), recommends a quick check to establish whether the company selected is legitimate and a member of the association.

SAIA is the professional body of the industry and provides oversight and guidelines for the industry. It also acts on indiscretions by member companies and can be called upon to mediate in the event of disputes. Members are also required to uphold a strict code of conduct and ethical behaviour in dealing with the public.

“I can think of not one good reason why a potential seller or buyer would choose to use an unregistered auctioneer. There is no cost benefit, nor is there safety in not knowing the credentials of an auctioneer.

“That is the reason why we have gone to great lengths to make SAIA member-lists easily available on the web, social media, in office or by means of a simple phone call to our office. When listing assets that are potentially worth a lot of money, or buying goods with their hard-earned cash, we always advise people to take the time to contact SAIA and be safe rather than sorry,” says Sonja.

Source: Engineering News