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Bosasa assets selling like hotcakes with R65m target for first day

The company's Clive Lazarus said liquidators approved the auction despite numerous attempts by the Watson family to stop the items from going under the hammer.

Clive Lazarus, an appraiser to the master of the High Court, during the first of three days of auctions of Bosasa’s assets at the company’s headquarters in Krugersdorp on 4 December 2019. Picture: Sethembiso Zulu/EWN.

KRUGERSDORP - African Global Operation's assets have been selling fast at an auction in Krugersdorp with hundreds of bidders trying to cash in.

The auctioneers said since Tuesday, more than a 1,000 people registered for the three-day auction.

The company's Clive Lazarus said liquidators approved the auction, despite numerous attempts by the Watson family to stop the items from going under the hammer.

African Global Operations, formerly known as Bosasa, came under fire at the state capture inquiry with a number of tenders and a close relationship with the African National Congress called into question.

Lazarus opened proceedings, despite attempts from the family of Gavin Watson to stop the auction.

“Our instruction we received is that proceedings to proceed and all items sold will be sold.”

He said the first day of the three-day auction is expected to make about R65 million.

African Global Operations filed an urgent court order to stop the selling of the company’s goods but failed.

The family cautioned bidders not to acquire items, but this has been ignored.

Vehicles, truck and various equipment has been selling fast as hundreds of bidders gathered at the company’s summer field property, which is also on sale.

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