The South African Institute of Auctioneers (SAIA) has launched a new booklet to help simplify the auction process for buyers, sellers, and the public.

The SAIA Auction Information Guide aims to popularise auctions by providing an easy-to-understand overview of the industry while addressing frequently asked questions and common misconceptions.

SAIA national secretary Sonja Styger says the guide will help readers to understand auction terminology, explains procedures and highlights the responsibilities and rights of all parties involved. The guide also discussed the significance of the rapid expansion of online auctions.

The booklet is divided into the following sections:

• General information: an overview of the auction industry and its benefits.
• Buyer’s information: a detailed roadmap for participating in auctions, including bidding and responsibilities.
• Seller’s information: guidance for owners and businesses on how to list items and help maximise returns.
• Live onsite auction guide: for traditional, in-person auctions.
• General online auction procedures: insights into the digital auctions, includes topics such as registration, bidding, and finalisation.
• Important auction terminology: a glossary of terms related to the auction process.
• Detailed vehicle auction information: specific advice for buyers and sellers navigating vehicle auctions.
• Detailed property auction information: insights into property auctions, including valuation and legal considerations.
• About SAIA: an overview of SAIA’s role in the industry and the value of using SAIA members.

The guide underscores the value of selecting  SAIA-accredited auctioneers, for both buyers and sellers.

For auctioneers, the booklet serves as a guideline and tool to enable adherence to procedures. The guide aims to equip participants with comprehensive information, from registering for an auction to understanding digital bidding.

“By providing clear, accessible information, we aim to make auctions more inclusive and trusted by all. Whether you’re a first-time bidder or an experienced seller, the guide offers valuable insights to ensure a smooth and successful auction experience,” concludes Styger.