Upcoming Vessel Sales/Auctions
HIGH COURT OF SOUTH AFRICA, KWAZULU-NATAL LOCAL DIVISION, DURBAN
Marketing Judicial Sales
Should an arrest lead to Judicial Sale, it is important to consider a marketing strategy to ensure that the vessel is not undersold.
In some jurisdictions, Courts have a designated broker, who’s role it is to market Judicial Sales to ensure that vessels are sold efficiently for the highest possible price.
In jurisdictions where there is no such facility, Courts and Creditors may choose to engage specialist marketing to promote and coordinate their Judicial Sale, to ensure maximum sale price.
Reasons to consider engaging marketing for Judicial Sales:
- To ensure that buyers are made aware of the Judicial Sale via global marketing
- To ensure that buyers are made aware of how to take part
- To ensure that the vessel is sold for the highest possible price to give maximum return to the creditors
- To ensure the vessel is sold at earliest opportunity, without the need for multiple auction rounds/vessel deterioration