Here are some of the advantages and disadvantages of running online auctions, according to head sheriff Theo Sibert from Sheriff Halfway House Alexandra.
Here are some additional factors why South African sheriffs should consider conducting online auctions:
- Safety First – with online auctions sheriffs are likely to avoid community members who would in live auctions mobilise against the auctioning of a property.
- Avoiding uncomfortable and violent confrontations with community members who have mobilised against sheriffs of the court who are merely doing their jobs.
- Fraudulent activities occurring such as people losing their assets illegally due to corrupt cops and sheriffs illegally selling attached properties to the public without authorisation from the courts are reduced when auctions are completed online.
- Individuals based anywhere in the world can participate in both immovable as well as movable property auctions.
- Reserve prices are more than likely met, seeing as online auctions have more enthusiastic bidders than onsite auctions which may sometimes be limited to a specific zip code.
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