Professional Auctioneering Services for Maximum Value Realization

Executing professional commercial asset auctions in Nairobi is a critical step in the final stage of debt recovery and asset realization. Swipe Recoveries Experts Ltd is a licensed auctioneering firm providing end-to-end services for banks, landlords, liquidators, and businesses seeking to dispose of assets in a transparent and profitable manner. From heavy machinery and office equipment to entire inventories, our team manages the entire auction process with precision and integrity. We ensure full legal compliance, expert valuation, and strategic marketing to attract a wide pool of bidders, guaranteeing the highest possible market price for your assets right here in Nairobi.

Compliance with the Auctioneers Act (Cap 526) & Rules

All commercial asset auctions in Nairobi are strictly regulated by Kenya's Auctioneers Act (Cap 526) and the accompanying Auctioneers Rules. As a licensed and bonded auctioneering firm, Swipe Recoveries Experts Ltd operates in full compliance with these laws. Our license is issued by the Auctioneers Licensing Board, which oversees the profession and ensures ethical conduct. The Act prescribes the exact legal procedures that must be followed, protecting all parties involved.

Key legal requirements we adhere to include: providing the debtor with a formal 'Proclamation of Attachment' notice, allowing a specific period for them to settle the debt before asset removal. Furthermore, the law mandates that a public auction must be advertised in a newspaper of wide circulation, such as the Daily Nation or The Standard, for a set period (e.g., at least 14 days for movable assets) before the auction date. We meticulously manage all this legal documentation and public notification to ensure every auction we conduct is legally sound and cannot be challenged in court.

commercial asset auctions Nairobi
Swipe Recoveries Experts Ltd

Our End-to-End Asset Auction Procedure

Our procedure for conducting commercial asset auctions is designed for efficiency, transparency, and maximum value recovery.

1. Instruction & Legal Authority: We begin by receiving your formal instruction, supported by a court order, warrant of attachment, or a signed letter of instruction under a debenture or chattel mortgage.
2. Proclamation and Seizure: Our licensed auctioneer visits the debtor's premises to proclaim the assets intended for seizure. If the debt is not settled within the legally stipulated period, we proceed with the careful removal and transportation of the assets to a secure storage yard in Nairobi.
3. Valuation and Marketing: We assess the assets to set a realistic reserve price. An aggressive marketing campaign is then launched, including newspaper advertisements as required by the Auctioneers Act, digital marketing, and direct outreach to our network of known buyers and dealers.
4. Conducting the Public Auction: The auction is held at a designated location in Nairobi. Our experienced auctioneers conduct the sale professionally, encouraging competitive bidding to drive up prices.
5. Post-Auction Administration: Upon successful sale, we collect payment from the winning bidders, deduct our legally stipulated fees and costs, and remit the net proceeds to you, the client, along with a comprehensive report and accounting statement.

Debt Recovery & Auctioneering Coverage in Nairobi, Kenya

Swipe Recoveries Experts Ltd provides commercial recovery, skip tracing, and auctioneering services across Nairobi, Kenya and all 47 counties in Kenya.

Understanding Auctioneering Fees and Costs in Kenya (KES)

An auctioneer with a gavel at a commercial asset auction in Nairobi.

The fees for conducting commercial asset auctions in Nairobi are not arbitrary; they are clearly stipulated in the Schedule of the Auctioneers Rules. This provides clients with clarity and protection from overcharging. At Swipe Recoveries Experts Ltd, we adhere strictly to this official fee scale.

The main costs include:
- Proclamation Fees: A fixed fee for proclaiming the goods, for example, KES 4,000 for debts between KES 100,001 and KES 1,000,000.
- Attachment & Repossession Fees: Charges for the physical act of seizing the assets.
- Auctioneer's Commission: This is the primary fee, calculated as a percentage of the sale price. For movable assets (like vehicles, machinery), the commission is typically 10% on the first KES 1,000,000, with a sliding scale downwards for higher amounts. For immovable property (land/buildings), the rates are lower.
- Reimbursable Costs: Expenses such as advertising in newspapers (e.g., an ad in the Daily Nation can cost from KES 20,000 upwards), storage, and security are charged back to the client at cost.

Frequently Asked Questions

What legal steps must be taken before an asset is auctioned in Kenya?
Before an auction, a licensed auctioneer must first serve the debtor with a 'Proclamation of Attachment,' giving them a set period (e.g., seven days) to pay the debt. If they fail to pay, the auctioneer can seize the assets. Following seizure, the auction must be publicly advertised in a newspaper for a statutory period (e.g., 14 days) before the sale can legally take place.
What types of commercial assets do you auction in Nairobi?
We are equipped to auction a wide range of commercial assets. This includes motor vehicles (cars, trucks, prime movers), industrial and construction machinery (generators, forklifts), office equipment and furniture, electronics, retail stock, and other business assets. We have the expertise to value and market diverse categories of assets to the right buyers for optimal prices.
Where in Nairobi do you typically hold your commercial asset auctions?
Swipe Recoveries Experts Ltd utilizes several secure and accessible auction yards and locations around Nairobi, depending on the type and volume of the assets. For vehicles and heavy machinery, we use large, secure yards, often along major routes like Mombasa Road or in the Industrial Area for easy access. For office equipment or smaller goods, we may use dedicated warehouses or sometimes conduct on-site auctions at the client's premises if appropriate.