Unicorn Auctioneers Asset Management and Salvage Solutions

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Lizbeth Sanders
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1 Unicorn Auctioneers Asset Management and Salvage Solutions Since st year of experience in the industry

2 Auctioneering has become a chosen form of asset disposal and asset acquisition for many corporates around the world. Some of the main advantages are: - Buying goods at discounted rates (new or pre owned) - You can dispose of goods faster than with normal channels - Payment is immediate (no debtors and waiting periods) The Company Over more than three decades in the South African market, Unicorn has established a brand with an excellent reputation. We started as a small independent auctioneer in Rustenburg, with very few assets and lots of integrity. Today we have a branch infrastructure across Northwest and Gauteng, with representative offices in Cape Town, Bloemfontein and Durban and Port Elizabeth. Unicorn has built an impeccable reputation in the auctioneering and salvage fraternity in South Africa. Our business philosophy is still simple. Retain the integrity that made us successful and back this up with competent staff and systems.

3 Our Head Office resides on our own premises is at Rustenburg. 100km from Pretoria and 160 km from Johannesburg, in Northwest Province. Our branches all operate in a group structure, with the head office in Rustenburg as a shareholder in each of these entities. This ensures a uniform approach and our exacting quality of service remains at the same level to all our clients. Over 25 years we have gained invaluable experience in assessing the value of goods in almost every sphere of business. We can give clients a very accurate value of items for disposal or sale and we are often required to provide guarantees in that regard. This means that clients do not have unrealistic expectations which do not realize when they dispose of something through us and that they can do accurate forward planning. Unicorn Group Head Office Rustenburg Unicorn Auctioneering Uses all branches Branches Rustenburg Sandton, Krugersdorp Cape Town, Bloemfontein, Durban Potchefstroom Unicorn Salvage Uses all branches Our business process simplified 1. Advertising the goods on auction, the auction date and conditions of sale 2. Holding the actual auction and receive payment before collection 3. Paying the seller per lot number as it was sold on the auction All this in a 10 day cycle

4 Salvage Management Unicorn is the largest contracted salvage solutions provider to the insurance industry. Apart from that we think that our position in the industry is rather unique. We uplift up to 400 claims per day across the country at our own cost. If there is a value in the salvage, then we deduct R from the proceeds as a cost of upliftment. If the salvage has a value less than that then we carry that cost. NO CHARGES FOR THE INSURER. We handle Gods in Transit, Agricultural, Marine and any other commercial claims in the predominantly NON MOTOR salvage arena. As a result of our interaction with various brokerages and Loss Adjustors we invariably get to work for multiple insurers. In a unique collaboration with Santam, Unicorn is currently the appointed salvage contractor in various different salvage areas for Santam. We do all volume claims across the entire South Africa for Santam. In this arena we currently handle more than 150 claims on certain days. This contract has been running for more than 4 years. We also handle the GIT goods in transit claims nationally. Here a special responsibility rests with Unicorn to be able to respond in emergencies to uplift stock that was in transit. This includes even perishables which need a short turnaround time in order to preserve the goods.

5 Unicorn is further mandated to do the complex claims for Santam nationally. In this arena we handle the salvage on behalf of Santam. Our mandate includes removing the claim from the client premises and doing any / all restoration/clean-up of the salvage in order to maximize the return potential. Recently the Outsourced Business unit of Santam has engaged with Unicorn to ensure that our contracts be extended to all the brokerages under their unit s management. Unicorn is currently the only contracted service provider for Mutual and Federal now Old Mutual Insurance on all claim types nationally. We uplift and dispose of salvage from all our main branches in Gauteng, North West, KZN, Eastern Cape, Western Cape and Bloemfontein. All claims are sent to Unicorn electronically and from there we action the logistical process to arrange upliftment of the claim from the client, dispose of it and then pay the contracted proceeds to M&F on a monthly basis. The contract with M&F has been running for three and a half years.. Our Services and Clients We provide a value proposition for clients in asset management, asset disposal and acquisition. We are appointed auctioneers for liquidators, the high court, and SARS. See some of our clients on the next page.

6 Unicorn has played a significant role in salvage auctioneering. Both as representative auctioneer and as buyer of salvage parcels. We buy salvage parcels and dispose of these through our various branches. Unicorn undertakes decommissioning or de-construction work when appointed to sell warehouse buildings, mining operations etc. We have undertaken numerous appointments for this type of work and have even taken the responsibility for the rehabilitation of land in some instances. Here we play a substantial role in determining the damage value to stock and inventory of the insured party on behalf of the insurance agencies in their attempts at regaining a percentage of the insurance claim payout. We specialize in Salvage, Property, Insolvency, Deceased estate, mining machinery and plant auctioneering. We may have sold more furniture on auction than your Uncle in the Furniture business. We sell maritime equipment, airplanes, warehouse structures, and livestock. As the adage goes WE SELL ANYTHING.

7 We have sold many salvage parcels for Makro, Furniture City, Morkels, Metro cash and carry and most banks and insurance companies. We are on the panel of a number of mines and national machinery and plant companies. We are a full member of the South African Institute of Auctioneers and the Estate Agent Board. Some of our clients over the years:

Long term standing A comprehensive credit and bank reference is available for any potential client that may need to ascertain our financial standing and ability to

Our substantial branch infrastructure, well trained staff and auctioneers are all equipped to meet the needs of both our buyers and sellers.

8 Long term standing A comprehensive credit and bank reference is available for any potential client that may need to ascertain our financial standing and ability to supply guarantees. We have an impeccable bank record with zero bank liabilities. Our substantial branch infrastructure, well trained staff and auctioneers are all equipped to meet the needs of both our buyers and sellers. We can hold an auction at any location with our staff and mobile infrastructure. CONTACTS All new engagements and contractual issues National PABX Bertus van den Heever bertus@unicorngroup.co.za Marius van den Heever Morne:

9 Logistics and upliftments Johnny Stevens OR USE OUR NATIONAL PABX NUMBER : USE OPTION 4 or 5 for enquiries.

Method of engagement: Mandated Sale on your behalf We will visit your premises and assess the product / items that you need to dispose of. Unicorn can do an inventory of the those items.

10 Method of engagement: Mandated Sale on your behalf We will visit your premises and assess the product / items that you need to dispose of. Unicorn can do an inventory of the those items. Included in the inventory report we can give a valuation of each item with a summary of its current condition. If the auction is to be held off site we will remove the product to a suitable location. We will advertise the auction and arrange everything for the day, or we can have the auction at your own premises. All items are marked as a LOT number. Each LOT is then individually auctioned off to the highest bidder. Payment can be made via EFT, credit card, and debit card. For security reasons we prefer not to handle too much cash. Depending on the type of product we allow a couple of days for the buyer to collect. (Buyers have to settle their accounts in full before they can collect.) All sellers are paid 7 working days after the auction by EFT. We do provide sureties for certain criteria auctions if required. A full reconciliation is given to the seller, including the lot number, the description and the amount obtained for the lot number.

If items have a reserve price then this is explained to the buyers.

Auction. We also charge the buyer a commission and VAT.

11 If items have a reserve price then this is explained to the buyers. We charge the seller between 5 and 15% commission depending on the conditions of the appointment mandate. This varies according to the type of equipment and the turnover of the Auction. We also charge the buyer a commission and VAT. Over clients receive notifications of our auctions via our personal sms system. We can do auctions outside the borders of South Africa for international companies and corporates. We have done single property auctions exceeding R30m, and mining, machinery and plant in excess of that.

12 CONDITION OF SALE 1. The right of admission is reserved. 2. All goods are sold by the Auctioneer on behalf of the Seller. 3. The Auctioneer accepts no liability for any withdrawal of assets, statements or guarantees which may be given verbally by a seller s officials. 4. No bid by an unregistered Purchaser will be accepted by the Auctioneer and the Purchaser will have no claim to the alleged purchases made by him. 5. Subject to immediate confirmation, the highest accepted bidder shall be the Purchaser. 6. In the event of a dispute arising amongst the Bidders, the assets in dispute shall. At the discretion of the Auctioneer, be re-auctioned. 7. The Auctioneer reserves the right to refuse the bid of any person, regulate the bidding, indicate the highest Bidder and verify the order of the sale. He may furthermore withdraw any item at any given time without giving reasons therefore. 8. The Auctioneer does not hold himself responsible for any errors of description. A bid shall be taken as proof that the Bidder has made him/herself acquainted with the conditions for lots on which he/she bids. All goods are sold as-it-stands (voetstoots) and no claim can be made by the Buyer on grounds of faulty description, quality or condition, etc. Any intentional Buyer is therefore advised to inspect the goods, or to have them inspected, before making an offer. It must be clearly understood that no complaints will be considered after the closing of the bid. 9. All purchases must be paid immediately after completion of the Auction. Failing which will result in the deposit of the Purchaser being retained. 10. Once a bid has been accepted the goods become the responsibility of the Purchaser and no complaints in this regard will be considered. 11. No goods can be removed until fully paid for. 12. Terms are strictly cash or EFT. 13. All bids exclude VAT unless otherwise specified. 14. Buyers commission of 10% is payable and must be added to the purchase price. 15. All sales are final once a bid is awarded. 16. At least two weeks notice is required for advertising before any auction can take place items can be auctioned per day. Auctions with a turnover less than R will not be undertaken. 18. Unicorn Auctioneers will be responsible for the dispatching and releasing of all items.

RULES OF AUCTION TYPE OF AUCTION: PLACE OF AUCTION: TIME OF AUCTION: Somerset West, 7130 NAME & CONTACT DETAILS OF AUCTIONEER:

RULES OF AUCTION TYPE OF AUCTION: PLACE OF AUCTION: TIME OF AUCTION: Somerset West, 7130 NAME & CONTACT DETAILS OF AUCTIONEER: RULES OF AUCTION DATE OF AUCTION: TYPE OF AUCTION: Movable Assets / Motor Vehicles PLACE OF AUCTION: TIME OF AUCTION: NAME & CONTACT DETAILS OF AUCTION HOUSE: Michael James Organisation, 63 Victoria Street,