Bosasa assets auctioned off

Bidding for the controversial company's assets kicked off this morning. Up for grabs - the company's Smart City Campus, worth around R20-million. Courtesy #DStv403

JOHANNESBURG - The Bosasa auction is off to a good start.

Bidding for the controversial company's assets kicked off on Wednesday morning.

Up for grabs, is the company's Smart City Campus, worth around R20-million, a fleet of vehicles and office furniture.

Liquidators put the assets on auction to pay off the controversial company's debt.

READ: Agrizzi suing Gavin Watson's nephew for defamation

Gavin Watson’s BMW X5 sold for R595 000 – and the winning bidder made a quick getaway.

The late Bosasa CEO's Porsche Cayenne also sold for over R500,000.

“I don’t think people will know it was his car, but it doesn’t matter in any case. Not a problem,” said winning bidder Graeme McGregor.

Despite the high prices, some believe it was money well spent but other more experienced auction buyers refused to take the bait.

The sale is going ahead despite the Watson family's attempts to declare it illegal.

Source
eNCA