Pam Golding Properties, BidX1 enter JV partnership

Pam Golding Properties and BidX1 have entered into a joint venture partnership that will see the two organisations collaborate on bringing greater innovation and transparency to the auction property transaction process in South Africa.

BidX1 is a digital property company that has developed a transparent and secure digital auction platform, allowing users the convenience and immediacy of buying and selling property online from anywhere in the world, on any device. Having raised over €1.3bn through the sale of more than 8,000 assets – €750m through traditional auctions and €550m via its bespoke digital platform – BidX1 is now the second largest auction house in Britain and Ireland.

Says Dr Andrew Golding, chief executive of the Pam Golding Property group: “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. 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.”

Enhancing the property buying and selling experience

Comments Stephen McCarthy, founder and 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 €750m 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.”