Unlocking Asset Value Through Strategic Auctions
As a leading asset auction company based in Nairobi, Swipe Recoveries Experts Ltd provides a transparent, efficient, and legally compliant platform for liquidating a wide array of assets. Whether you are a bank, a corporation disposing of surplus equipment, a landlord, or an individual, using a professional auctioneer is the most effective way to achieve true market value in a fixed timeframe. Our auctions create a competitive environment that drives prices upwards, ensuring maximum returns for our clients. From our offices at International Life House, we coordinate auctions across Kenya, handling everything from initial valuation to final sale with unmatched professionalism.
The Role & Regulation of Auctioneers in Kenya
In Kenya, the auctioneering profession is not merely about selling items to the highest bidder; it is a specialized practice governed by strict laws. The foundational legislation is the Auctioneers Act (Cap 526), along with the detailed Auctioneers Rules. This legal framework mandates that anyone practicing as an auctioneer must be licensed by the Auctioneers Licensing Board, a government body that regulates the profession. This licensing ensures that the auctioneer operates with integrity, understands the legal procedures, and is accountable for their actions. Choosing a licensed asset auction company like Swipe Recoveries Experts Ltd is crucial, as it guarantees that the sale process—from the initial proclamation to the transfer of ownership—is legally binding and enforceable.
The Act gives licensed auctioneers the authority to, upon instruction, attach and sell property to recover debts or execute court orders. This includes handling distress for rent for landlords, executing court warrants, and repossessing and selling assets on behalf of secured creditors like banks and MFIs. Our deep understanding of these legal provisions ensures that every auction we conduct is robust, transparent, and immune to legal challenges.
Our Auction Process and Asset Categories
Our experience as an asset auction company covers a diverse range of movable and immovable property. We have successfully managed auctions for:
Motor Vehicles: Including cars, trucks, prime movers, and motorcycles.
Industrial & Agricultural Machinery: Such as generators, tractors, and factory equipment.
Office Furniture & Electronics: From desks and chairs to computers and servers.
Household Goods: In cases of distress for rent or executing court orders.
Our auction process is meticulously planned and executed:
1. Consultation & Valuation: We begin by understanding the client's objectives and arranging for a professional valuation of the assets to set a realistic reserve price.
2. Strategic Marketing: We design a bespoke marketing plan to reach the largest possible audience of relevant buyers. This involves newspaper advertisements, digital marketing, email campaigns to our bidder database, and clear cataloging.
3. Pre-Auction Viewing: We organize a dedicated viewing period, allowing potential bidders to inspect the assets thoroughly before the auction day.
4. Auction Management: Our licensed auctioneer conducts the auction in a professional manner, fostering a competitive atmosphere to achieve the best prices.
5. Post-Auction Administration: We manage the entire post-sale process, including secure payment collection, and ensuring all necessary documentation is completed for the transfer of ownership.
Auction Fees and Charges Explained (KES)
Transparency in costs is a cornerstone of our service. The fees for engaging an asset auction company are largely standardized by the Auctioneers Rules to protect the public. The primary fee is the Auctioneer's Commission, which is calculated as a percentage of the sale price. For movable assets like vehicles and machinery, this commission is typically 10% on the first KES 100,000, 5% on the next KES 900,000, and 2.5% on the amount above KES 1,000,000.
In addition to the commission, there are 'disbursements', which are the direct costs of conducting the auction. These are agreed upon with the client beforehand and may include:
Advertisement Costs: Newspaper ads can range from KES 20,000 to KES 100,000 depending on size and publication.
Storage & Security: Secure yard fees can be around KES 1,000 - KES 3,000 per day per vehicle.
Valuation Fees: Paid to the professional valuer.
Gazettement Fees: For official notices where required.
We provide a detailed estimate of all costs upfront, ensuring our clients have a clear understanding of the financial aspects of the auction.
