27 years later into the democracy, black-owned auctioning companies account for only 7% of the estimated R2 billion revenue generated by the auction industry in South Africa. In this article, Transform SA chats to one of few trailblazers in this predominantly white industry.
Going once, going twice, sold! To those who have been to an auction, this phrase will spark memories of a white
man standing on a podium. What most people rarely ask themselves is why the status quo of this industry never changes. According to South African Professional Auctioneers Association (SAPAA), this unfortunate situation is not coincidental, but there was a deliberate exclusion of black-owned auction enterprises.
Kwanele Boltina is one of few black auctioneers who decided to challenge the status quo. He is a qualified auctioneer with an undying passion for transforming the industry. Over and above that, he is supportive of any skills programme that would enable his company, Riley Auctioneers, to empower young people.
“People assume that in order to be an auctioneer all you need is to stand on a podium and sell. We’ve got auction administrators who handle the admin and Livestock agents who have to understand the wellbeing and psychology of
livestock. As well as appraisers who will appraise and evaluators who will evaluate movable assets,” Kwanele told Transform SA.
Having been at the helm of his business for years, Kwanele attributes his success to upskilling himself and others. He encourages anyone who wants to venture into this dog eat dog industry to emulate him. He holds an Auctioneering Diploma from the South African College of Auctioneers. His company, Riley Auctioneers, (a level 1 BBBEE), offers a myriad of services such as liquidations, valuations and storage.
“The auction space is a very niche industry and the market is predominantly white operated. It is a very white-dominated space, an old boy’s club. It is all about who you know and how you know them.” Kwanele reveals that, in most cases, auctioning extends to other areas of businesses beyond just selling such as servicing creditors, banks and asset financiers. As per insolvency act, creditors, banks and liquidators alike would subsequently appoint auctioneers to uplift , repossess, and sell assets for them to cover any liens and realise a much value on the disposal of assets.
While Covid-19 had a negative impact on most businesses, Kwanele says the pandemic had some highlights as well. “To be honest, our business was affected by Covid-19 however in a positive light by redirecting our business to online. What happens is that most clients are now moving their businesses online. As opposed to the bigger guys with +-300
employees and storage costs we were not affected to retrench or incur any storage costs. We can administer effectively with the small proficient team that we have to deliver the same standard of service if not better than the bigger guys,” he elaborates.
