Pam Golding partners with BidX1

Oct 19, 2018 | Features, Local Property

The new partners, from left, Dr Andrew Golding (CE Pam Golding), Stephen McCarthy (founder and CEO BidX1) and David Murphy (COO and director BidX1).

“This partnership will indeed add a new dimension to the South African auction property market”

Pam Golding Properties has increased their online footprint with a joint venture partnership with BidX1, a UK-based digital property company. The announcement of the venture follows only a few months after the leading property group’s acquisition of set-fee start-up Eazi.com.

In a statement released today Dr Andrew Golding, chief executive of the Pam Golding Property group, says the latest venture is in line with their vision to provide a diverse range of property services to their clients.

“In line with our vision to provide our clients with a diverse range of property services which more effectively and efficiently enable and facilitate successful property transactions, we are excited to be partnering with BidX1, an innovative global property company in the auction space. There is no doubt that this technological auction sales channel will add value to our service offering and our value proposition to the various markets in which we operate,” he says.

Explains Golding: “This partnership will indeed add a new dimension to the South African auction property market and thereby provide our agents and sellers and buyers with increased opportunities in this space.”

According to Pam Golding’s statement BidX1 has developed an innovative, transparent and secure digital auction platform, that allow users the convenience and immediacy of buying and selling property online from anywhere in the world, on any device. It says BidX1 raised over €1.3billion through the sale of more than 8 000 assets – €750million through traditional auctions and €550million via their bespoke digital platform – which makes BidX1 the second largest auction house in Britain and Ireland.

The venture is described as a landmark partnership that will bring greater innovation and transparency to the auction property transaction process in South Africa.

Comments Stephen McCarthy, founder & CEO at BidX1:“Our focus is on using technology to enhance the experience of buying and selling property, making us a complementary partner for property agents and auction businesses who want to expand their market reach via our advanced digital platform for their clients and customers.

“Having raised €750million through traditional auctions, our digital offering has always been backed by extensive real estate experience as first and foremost, we are property experts. This makes Pam Golding Properties, whose property acumen, experience and extensive reach is combined with strong entrepreneurial spirit – an ideal partner for us as we enter the South African market, and we’re very pleased to be working with their world-class agents and staff.”

Adds David Murphy, chief operating officer and director at BidX1 South Africa: “We are excited to be combining our cutting-edge technology with Pam Golding Properties’ market-leading expertise to deliver an experience which will take auctions in South Africa into the digital age. BidX1 aims to offer the South African property market previously unseen levels of transparency, speed and worldwide exposure.

“We believe that greater transparency throughout the sale process provides a foundation of trust for both buyers and sellers. From past results to real-time bids, everything is logged and displayed on our website; we’ve placed transparency at the core of our business. It is our belief that digitisation and innovation will be the primary drivers of improvement in the South African property auction transaction process.”

Source: Press statement from Pam Golding Properties

Also read: Pam Golding now owns Eazi.com