ABOUT RYNCOR

Ryncor Auctioneers is a company that specialises in auctioneering, property management and asset management. Our services encompass online and live auctions, tenders and direct sales. We promote our sales using a range of channels, including our website, social media platforms, direct marketing, email, and SMS campaigns. Our team of experts possess in-depth knowledge of asset management and disposal, catering for various industries in the market. Our portfolio includes commercial and residential properties as well as an extensive range of movable assets. Our focus covers both local and international markets, and we strive to deliver world class service to our esteemed clients.

With branches located in Pretoria, Johannesburg, Cape Town, Durban, Meyerton, Bon Accord, Secunda and Sasolburg, Ryncor has grown to become a leader in redundant asset management. Our business strategy revolves around organic growth, underpinned by our unwavering commitment to ethical business practices, recruitment of top-notch personnel, and adoption of cutting-edge technology and infrastructure.

As member of the Estate Agency Affairs Board (EAAB) and The South African Institute of Auctioneers (SAIA), Ryncor fulfills to all their legal requirements. Our strict adherence to the Industry Code, the SAIA Code of conduct, and membership in the appropriate affiliated associations demonstrates our commitment to meeting these standards.

OUR VISION
Is to be the leading industry experts in optimising liquidity for our clients by continuously improving our process for disposing of their redundant assets.

OUR MISSION
We strive to deliver a comprehensive and professional service that guarantees our clients the highest returns on sales, prompt turnaround times, and immediate settlement of proceeds.

OUR VALUES
Our company culture revolves around values of integrity, innovation, and hard work, which we instil in our employees. We recognise the sensitivity of redundant asset and property management for blue-chip companies, and we prioritise upholding the highest level of integrity in our personal relationships with our clients.

WHY CHOOSE US?
With over two decades of experience in the industry, Ryncor has established a national and international presence. Our team comprises highly skilled individuals with expertise in various fields of the industry. Our infrastructure is robust and continually evolving to keep pace with advancements in the field. It is worth noting that our business audit findings have never indicated negative net worth. We take pride in offering a comprehensive range of services to our clients, underpinned by high-quality management, financial and internal control systems. Our disaster recovery and business continuation plan support our operating procedures.

Our client database comprises 40,000 active consensual (POPI Act) clients categorised according to commodity types, with whom we have transacted over the years. We specialise in managing redundant assets and materials for clients ranging from multinational corporations to close corporations, using our well-developed process of
tender sales, live auctions, or online auctions. We maintain a 93% safety-green status, audited by an external vendor, and have increased the value of Sasol Redundant Assets from R27 million p/a to R165 million p/a in the last five years. We sell redundant assets and properties successfully by Tender/Auction, in excess of 117,000 items p/a. Our onsite supervision covers the entire process from start to finish.

SERVICES WE OFFER
We offer a comprehensive range of services that covers all aspects of the disposal process, starting with identifying potential opportunities, negotiating requirements, preparing, marketing, conducting auction/tender sales, handling administrative tasks, providing detailed reports, obtaining approval, expediting payments, transferring funds to clients, and overseeing the final release and control of assets.

The sales methods employed by Ryncor are:

Closed Tender Sales
Potential buyers submit their highest written offer via the internet before a specified deadline. We will publish a detailed description of each lot on our website, accompanied by professional photographs. In case of any requirement, Ryncor can arrange for professional aerial and drone photography. The duration of a closed tender sale varies based on the items or assets being sold, typically lasting from one to two weeks. Viewing of the items and assets will be arranged with a Ryncor specialist on-site to address queries and provide relevant information.
To participate in the closed tender sale, all potential buyers must register in compliance with the regulations outlined in the Consumer Protection Act of 2008.

Based on our personal experience, Ryncor has observed that tender sales generate approximately 15% higher revenue compared to live auctions. It is essential to note that in a closed tender sale, the bidding process is confidential, and bids are not revealed to other bidders.

Online Auctions
Interested bidders can submit their offers online before a specified deadline, and the current highest bid is visible to all participants. Viewings of the items and assets are arranged by appointment during the online auction period, giving serious buyers ample time to evaluate all counter offers and submit a higher bid. The duration of an online auction varies based on the items or assets being sold, typically lasting from three days to two weeks. These sales methods are popular in numerous industries, including consumer goods, real estate, and art. It provides a convenient and accessible way for buyers to participate from any location globally, and for sellers to reach a broader audience of potential buyers. Moreover, online auctions or sales can result in cost savings for both buyers and sellers by eliminating the need for physical auction houses and related overhead expenses.

To participate in the online auction, all potential buyers must register in compliance with the regulations outlined in the Consumer Protection Act of 2008 and submit a refundable deposit.

Live Auctions
A live auction takes place on specific premises and date, with the assets sold to a buyer who is present. A comprehensive catalogue of all the available goods at the auction will be provided to all potential buyers, with each item listed on our website along with a detailed description and lot number. Before the assets are sold and released to the buyer, Ryncor will verify that the asset’s condition remains unchanged from the time it was booked in.

Every live auction has specific terms and conditions, with audio recordings taken to prevent and resolve any disputes that may arise where applicable. Potential buyers must register with a valid South African identification document and submit a refundable deposit before participating in the auction process. Vehicles - Ryncor will dealer stock the vehicles in the company’s name with immediate insurance cover.

Appraisals & Valuations
We also offer asset appraisals and valuations conducted by qualified industry specialists.

Warehousing & Storage
Our facilities feature secure lock-up capabilities and are continuously monitored by 24/7 Security Guards. We also provide extensive insurance and liability coverage for all clients and their goods, whether on-site or in transit. Our total warehouse space spans approximately 24,500 square meters nationally.

Asset Management
Ryncor’s services include the identification, cleaning, categorisation, and analysis of assets for the purpose of verification. All relevant data will be entered into our proprietary software, Umbrella, enabling the tracing of assets from their inception to their disposal. We offer a range of comprehensive reports tailored to meet our clients’ specific needs.