Tanya Jovanovski, who for two years now has been the franchisee principal for Rawson Auctions in the Western Cape, has commented that the new rulings requiring auctioneers to have recognized N2F4 and N2F5 qualifications (the latter in the case of principals) are to be welcomed because, she says, they will introduce a measure of regulation and stability to the auction industry. (Jovanovski herself has already achieved both qualifications.)
Jovanovski added that the allegation that the auctioneering industry had been subject to too few controls is ‘probably valid’ and some form of tightening up is therefore necessary.
“As in the estate agency world,” she said, “the introduction of compulsory qualifications will weed out the untrained and the unqualified and should lead to those who are left in the profession being more respected. This, therefore, is a good move on the part of the South African Institute of Auctioneers.”
Jovanovski said that the ‘regrettable’ publicity that blew up last year around the abuse of trust funds, the rigging of bids and the kick-backs paid to interested parties should not be allowed to tarnish the industry as a whole.
“It has to be recognized that there are many auctioneers who over the years have quietly performed ethically and put their clients’ interests first. Sadly, they are now all tainted by the recently acquired bad image of the industry, but any suspicions about them are in nine cases out of ten undeserved and unjustified. It has, as always, been one or two high level glamour operators who have let the side down – the ordinary operators who probably handle 80% of the work continue as before to give service on an ethical foundation.”
Jovanovski also welcomed the news from the Institute that, again as in the estate agency sector, previous experience will be taken into account and will count towards the auctioneer’s professional qualifications – even if he is a rookie.
“During the last few years,” said Jovanovski, “we have seen highly qualified legal, accounting, commercial and other staff moving into auctioneering – because it is more exciting and possibly offers better rewards than more mundane jobs. Obviously their experience has to count in their favour and be recognized.”
In the tightening up of the whole auctioneering sector, said Jovanovski, it should be the handling of liquidated assets that receive the most attention.
“All too often when an individual or a business is declared bankrupt, the previous owner or manager drops completely off the scene, leaving the liquidators to act very much as they see fit. This can, I suspect, lead to an abuse of the trust given to them – and to the estate’s assets not realizing the true market value when they are sold off. Allegations here have been rife, but are very difficult to prove. However, the fact remains that liquidated assets often appear to be sold at ridiculously low prices and this is the matter which the regulators must now look into.”
