Africa-Press – Seychelles. A large crowd of potential buyers flooded the premises of the Palais de Justice yesterday morning, hoping to get their hands on one of the 41 vehicles belonging to Vijay Construction (Pty) Limited fleet, which were going under the hammer.
From as early as 9am, a large number has turned up to view the vehicles, comprising different models of cars, SUVs, luxury vehicles and even construction equipment, with the auction process starting off at 10am.
All of the funds collected from the sale are to go towards Eastern European Engineering Limited (EEEL), after Vijay Construction lost its long-running legal battle with the company in October 2022, making it liable to a substantial payout exceeding €20 million.
Among the fleet were a number of Hyundai Creta SUVs, Ford Ranger pick-up trucks, Honda Fit cars, Honda CRV SUVs, a Hyundai Elantra car, a Mercedes Benz, a Lexus car and a JCB construction machine. A number of buses which the company used to transport employees to and from construction sites were also up for grabs.
As is the usual process, a professional license value evaluator assigned a monetary value to each of the vehicles on sale, with the criteria based on the estimated value of the vehicle based on its condition, the value on the local market, and costs incurred such as shipping.
Despite the bidding starting off at a set value for each vehicle, the prices listed are not starting bidding price but rather offer a marker point to indicate a fair price to auction the item at. Bidding could start below the amount but could also go over the estimated price listed, which it did in most cases, except for the Lexus which sold at the price listed, at R650,000.
The listed prices also act as a guideline to help the bidder assess whether they are bidding much higher or lower than the value of the item.
The winning bidders were required to pay by bank transfer, card, or cheque. No cash payments were permitted. Once payment is effected, they are to come back to the Supreme Court with their identification information and proof of payment, before the court releases the vehicle, keys, and relevant document to the Seychelles Licensing Authority (SLA).
A bidder who managed to secure a Ford Ranger pick-up expressed his view that some of the sale prices are a bit high considering it is an auction process, although he noted that this is due mainly to the sheer number of persons interested in the vehicles.
“The process is going well so far, and progressing very fast. I am lucky enough to have secured a vehicle and I hope my brothers and sisters who have come here for one also get their hands on one,” he said.
Initially, the sale was scheduled for two days, yesterday and today, but the majority of the vehicles were sold yesterday. The only remaining ones which are to go under the hammer today if there are interested buyers are the Mercedes Benz and the JCB.
The accompanying photo was taken by our photographer Emma Ah-Kong during the auction process yesterday.
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