Auction of the decade: BOSASA's horde of assets goes under hammer

Auction of the decade: BOSASA's horde of assets goes under hammer

- Over 140 cars, luxury furniture, and equipment will be going on auction as BOSASA is carved up and served to the highest bidder

- Despite outcry from the late Gavin Watson's nephew, the auction will be going forward

- A glimpse at the fleet accumulated by the tainted CEO has afforded SA a view of the massive wealth the company boasted

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This week Park Village Auctions and Bidders Choice will be selling parts of BOSASA's legacy to the highest bidder.

News24 reports that countless vehicles, equipment, and furniture is going under the hammer as the end of Gavin Watson's company's reign dawns.

If owning Watson's BMW X5 is a personal dream of yours, nows the time. Otherwise, a Porsche Cayenne of Audi S5 Sportback might be more to your tastes.

READ ALSO: In-depth look at the death of former Bosasa CEO Gavin Watson

The expanse of items available is so massive that a three-day event is needed to pull off the feat.

The CEO's nephew, Jared Watson, had made claims that the auction wouldn't be going ahead, but a statement from Park Village noted:

"Controversy arose after the auction's official announcement as African Global Operations [formerly Bosasa] stakeholders made public claims that the sale would not go ahead. Despite this, the duly appointed auction houses have stood firm in saying the assets will be sold off as planned."

The funds generated by the auction will be handed over to BOSASA's creditors, with the majority going to the South African Revenue Service.

Briefly.co.za reported that BOSASA had been placed under voluntary liquidation after the major banks opted to close its accounts.

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Source: Briefly.co.za

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