Bosasa assets expected to rake in R65m at 'biggest auction of the decade'
Last week, the Gupta-owned home in Saxonwold, Joburg, was auctioned off for R2.6 million.
Next week, the auction of assets of African Global Operations (AGO), formerly Bosasa, is expected to rake in as much as R65m, according to the auctioneers.
Park Village Auctions, the company that auctioned off Gupta assets, will dispose of the AGO assets in a massive, three-day fire sale as the company’s liquidation nears conclusion.
Previously, the Watson family said the auction would not go ahead, but Park Village Auctions is standing firm, saying the sale of the assets is on track from next Wednesday.
The assets will be auctioned off to settle the debt the company owes to creditors. The company, accused of corruption, is commercially insolvent and is in the hands of liquidators. They have pushed for the auction while the family has fought against it.
On Tuesday, Jared Watson, the executor of deceased AGO head Gavin Watson’s estate, didn’t respond to phone calls and text messages. However, last week he said: “There is absolutely no auction occurring regarding Bosasa/African Global’s assets in December. This is merely false information being spread most likely by Cloete Murray, who has no authority to bring an auction.”
Trouble for Bosasa started when former Bosasa chief operations officer Angelo Agrizzi told the Zondo Commission of Inquiry into State Capture that over 30 people, including senior Cabinet ministers, were in the pockets of Bosasa. The Watson family has denied the allegations.
If the auction goes ahead as scheduled, bargain hunters could receive some good deals. “The highlights will be the three fixed properties, comprising the Bosasa headquarters and campus, Lindela Repatriation Centre and the entire contents of a functional copper plant. Those will be narrowly followed by an array of vehicles, and the exquisite home and office furniture on offer,” said Pieter Geldenhuys of Bidders Choice.
Lindela Repatriation Centre - which houses immigrants before deportation - is the biggest property set to be auctioned. It is on 26.5 hectares of land and includes a residential development with nine large buildings, a workshop and a soccer field.
The AGO headquarters in Krugersdorp might appeal to buyers not interested in the repatriation centre.
The headquarters features a large office park, offices, a restaurant and canteen, a warehouse and other buildings on over 8.2 hectares of land.
Those who want to try out their luck in copper mining might bid for a copper plant that includes movable and immovable equipment.
Some of the cars that are up for grabs include a 2016 BMW X5, a 2011 Audi S5, 2008 Audi A4, a 2013 Mercedes Benz E200, 2016 Mercedes Benz C250, assorted bakkies, minibuses and a selection of Toyota makes such as Hilux, Fortuner, Avanza, Corolla and Quantum.
Commercial vehicles include various closed - and refrigerated - body trucks, Massey Ferguson tractors, a Case TX 170 Telehandler, a 2005 Caterpillar 424 Backhoe Loader, assorted trailers, quad bikes and golf carts.
Clive Lazarus, Park Village Auctions head auctioneer, said: “One can see that no expense was spared on these items.”
There will be an assortment of king and queen bases and mattresses, couches, side tables, coffee tables, bedside lamps, framed prints, framed mirrors, chairs, washing machines, dishwashers, tumble dryers, fridges, microwaves, various TV sets, DSTV decoders to make up lots under the banner of household furniture.
Office furniture and equipment includes designer coffee tables; designer reception leather and fabric couches; boardroom suites; executive desks; high-back, typist and mid-back chairs; conference tables; conference facility equipment; work stations; executive bookshelves; pedestals, a large assortment of paintings and artwork, while outdoor furniture will also be available.
Lazarus says that viewing is essential due to the variety and quantity of the items on offer. Viewing is on Monday and Tuesday.