top cars up for grabs

A reflection of current trends in the economy is the large car auctions scheduled by Park Village Auctions for Pretoria and Johannesburg over the next few weeks.

A reflection of current trends in the economy is the large car auctions scheduled by Park Village Auctions for Pretoria and Johannesburg over the next few weeks.

Park Village is currently handling up to six sales a month, averaging about 220 vehicles on each occasion.

The immediate schedule includes about 300 vehicles coming under the hammer at the Tshwane Events Centre on Saturday, November 8, from 10.30am. This is possibly the largest car auction yet held in the city. Viewing takes place on the preceding Friday, November 7.

Meanwhile, the next in the series of Park Village Auctions' car sales in Johannesburg take place at the Bank Asset Disposal Centre, Prolecon Road, Prolecon, Johannesburg south, on Wednesday, November 5, where passenger, commercial and salvage vehicles will be on auction, and at the Bank Repossession Centre, 221 Main Road, Martindale, on Wednesday.

On November 12 executive, passenger and commercial vehicles will be offered.

Viewing in each case is also on the preceding day and the auctions commence at 10.30am.

Everything from the proverbial Moms taxis to upmarket luxury sedans and 4x4s will come under the hammer at the sales, says Park Village's "ace" auctioneer Clive Lazarus.

Lazarus says repossessions in the vehicle market have increased dramatically and while that is bad news for some, for buyers with the means, there are tremendous opportunities.

"It's all due to a combination of coinciding factors, including a bigger focus on repossession profiles by the banks and finance houses, so the flow of stock is good from the likes of Standard Bank Vehicle & Asset Finance, Nedbank, BMW Financial Services, Wesbank and Investec," says Lazarus.

"Moreover, fleet managers such as Debis Fleet Management are the source of vehicles under full maintenance lease management, so again, the overall quality of vehicles from these sources is high.

"There's a good buyer base, including second-hand dealers, the new generation of black buyers and small businessmen as well as larger corporates watching their cash flows. Also a lot of executive cars which are selling.

"Also, in combination with a new-found wariness of debt, there's growing awareness of the merits of acquiring quality, low-mileage, late model cars by auction as opposed to buying new.

"Brands such as BMW, Merc, Audi, Nissan, Honda, Volvo, VW, Ford and more besides are on offer and because of the strong supply of stock as the banks seek to clear their inventories before year end, this will be a buyers' market par excellence.

"Indeed, our auction sales to date this year have been highly successful and have been characterised by a virtual clearance of available stock at each and every sale.

"Buyer interest, even in executive cars has been consistently strong throughout the year in spite of the tough business conditions.

"That's hardly surprising given the fact that car auction prices are a good 10 percent to 15 percent lower than retail. Also, finance is readily available for auction vehicles, although it's noteworthy that many of our bidders are cash buyers.

"Turnouts at our sales continue to be large and they've become events in their own right and such is the pace of the inflow of vehicles that we've acquired additional storage premises and the intake and processing of auction vehicles is now a major exercise."

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