The South African Institute of Auctioneers (SAIA) has launched a comprehensive new booklet to simplify the auction process for buyers, sellers and the general public.
The SAIA Auction Information Guide aims to popularise auctions by providing an easy-to-understand overview of the industry while addressing common questions and some commonly held misconceptions that the public might have.
National secretary of SAIA, Sonja Styger, says the guide is meant to be a go-to manual for anyone interested in auctions. It will help readers to understand auction terminology, explains procedures and highlights the responsibilities and rights of all parties involved. The guide also emphasises the growing significance of online auctions, a space that has seen rapid expansion in recent years.
The guide is divided into sections to cater to the needs of various audiences:
- General Information: An overview of the auction industry and its benefits.
- Buyer’s Information: A detailed roadmap for participating in auctions, including bidding and responsibilities.
- Seller’s Information: Guidance for owners and businesses on how to list items and maximise returns.
- Live Onsite Auction Guide: A step-by-step walkthrough of traditional in-person auctions.
- General Online Auction Procedures: Insights into the digital auction landscape, covering registration, bidding and finalisation.
- Important Auction Terminology: A glossary of essential terms to ensure clarity and confidence during the auction process.
- Detailed Vehicle Auction Information: Specific advice for buyers and sellers navigating vehicle auctions.
- Detailed Property Auction Information: Expert insights into property auctions, including valuation and legal considerations.
- About SAIA: An overview of SAIA’s role in the industry and why the public should prioritise SAIA members for their auction needs.
SAIA’s focus on transparency and education reflects its commitment to fostering trust within the auction industry. The guide underscores why buyers and sellers should choose SAIA-accredited auctioneers and emphasises its members’ adherence to ethical practices and professional standards.
For auctioneers, the guide serves as a guideline and valuable tool to adhere to procedures. This is especially true for the growing online auction industry and provides valuable information for all participants. From registering for an auction to understanding digital bidding, the guide equips participants with the information they need.
“It is an invitation for everyone to experience the excitement and opportunities that auctions offer. By providing clear, accessible information, we aim to make auctions more inclusive and trusted by all. Whether you’re a first-time bidder or an experienced seller, the guide offers valuable insights to ensure a smooth and successful auction experience.”
