Auction It

What Auction It does

Auction It (Pty) Ltd is a privately held, 100% citizen-owned auction house headquartered in Gaborone, Botswana, founded in 2011 by Adrian Rass. The company provides asset-disposal and auctioneering services to corporate, government, and private clients using a combination of online and onsite auction formats. Its core platform is a WooCommerce-based online auction site (auctionit.bid), complemented by onsite auctions at the company's G-West Industrial warehouse in Gaborone and at client sites across Botswana, including multi-location auctions for the Botswana Power Corporation.

The underlying technology stack is conventional rather than proprietary: WordPress with WooCommerce for bidding and catalogue publication, the Auction Flex System for inventory and client relationship management, and AWS Africa (Cape Town) for hosting with localized data residency. Supporting products include a Catalogue Library for pre-auction documentation, a VIP Membership Program priced at BWP 15,000 annually offering priority bidding privileges, and specialized event sub-brands such as Furniture & Appliance Sale Events. Operations are managed by roughly 10–12 named staff, including the founder Managing Director, an Operations Manager, Office Manager, accounting and inventory clerks, and warehouse staff.

Auction It earns revenue primarily through transaction-based commissions: a 15% seller commission (+12% VAT) and a 10% buyer premium (+14% VAT), supplemented by unit-priced storage fees (BWP 50/item/day) and the recurring VIP subscription. The customer base spans more than 25 named institutional clients across Botswana's banking, insurance, telecommunications, utility, mining-services, and government sectors — including Stanbic Bank, Old Mutual, Botswana Power Corporation, Botswana Telecommunications Corporation, Water Utilities Corporation, and various government ministries — alongside private sellers and individual buyers.

Name

Auction It

Legal name

Auction It PTY LTD

Website

https://auctionit.bid

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

1–10 employees

Short description

Auction It is a 100% citizen-owned Botswana auction house, founded in 2011 in Gaborone, operating online and onsite auctions for corporate, government, and private clients across vehicles, furniture, appliances, and general goods on a commission-based model.

Ownership category

akta.pro rank

Product category

Auction Services

akta.pro primary industry

Bankruptcy, Probate & Estate Property Auctions (BPAJAEAG)

Keywords

• Auction services
• Asset disposal
• Online auctions
• Vehicle auctions
• Corporate asset sales

Headquarters

HQ city

Gaborone

HQ country

Botswana

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Seller Commission: Sellers are charged a 15% commission fee plus 12% VAT on items sold at auction. Collection service available for BWP 300 per load if client cannot deliver items.
2. Buyer Premium: Buyers pay a 10% commission plus 14% VAT on their winning bids. Deposit may be required before auction and goes toward purchase price for winning bidders.
3. VIP Membership: VIP membership program with BWP 15,000 registration fee, refundable or renewed after one year. Provides Gold VIP Bid Paddle, no-queue registration, complimentary refreshments at events, and preferential service.
4. Storage Fees: Unsold items not collected by sellers incur storage fees of BWP 50 per item per day. Unpaid items after payment deadline may be re-sold with defaulters liable for shortfall.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Auction It operates an auction house in Botswana conducting onsite auctions at its Gaborone warehouse and online auctions via auctionit.bid. The company sells assets on consignment for corporate clients (insurance companies, banks, utilities, government ministries) and private sellers, offering multiple disposal formats including auctions, silent auctions, sealed bids, tenders, and private treaty sales across vehicles, furniture, appliances, livestock, and general goods. It earns revenue through seller commissions (15% + VAT), buyer premiums (10% + VAT), VIP membership fees, and storage fees.

Product overview

Auction It operates as an auction services company offering a portfolio of complementary offerings. The core product is the Online Auctions Platform, a WooCommerce-based web system enabling online and onsite bidding for vehicles, furniture, appliances, livestock, and general goods. Supporting the platform are the VIP Membership Program providing priority access and dedicated support, the Catalogue Library for pre-event browsing, and specialized auction event sub-brands including Furniture & Appliance Sale Events and BPC Auctions conducted for corporate clients. The company also utilizes the Auction Flex System internally for inventory management and client relationship management.

Differentiator

Problem solved

Functional benefit

Products and services

• Online Auctions Platform Web-based auction platform enabling online bidding for vehicles, furniture, appliances, livestock, and general goods. Hosted on WooCommerce with user registration and account management capabilities. Used by both corporate sellers offloading surplus assets and individual buyers/bidders in Botswana.
• VIP Membership Program Premium annual membership at BWP 15,000 providing Gold VIP Bid Paddle, priority/no-queue registration, complimentary refreshments at events, and preferential payment treatment. Targets frequent auction participants in Botswana.
• Onsite Auctions Physical auction events held at Auction It's Gaborone warehouse and other locations (Phikwe, Gumare, Ghanzi, Tlokweng) for corporate and private sellers. Open to all registered bidders with multiple disposal formats including auctions, silent auctions, sealed bids, tender, and private treaty sales.
• Furniture & Appliance Sale Events Onsite sale events for furniture and appliances held at Plot 170 Tribal Lands Tlokweng. Operates 9:00 AM to 4:00 PM during specified event dates. Targets buyers seeking discounted household goods.
• BPC Auctions Auction events conducted on behalf of Botswana Power Corporation at multiple locations including Phikwe, Gumare, and Ghanzi for disposal of BPC assets. Serves as a contracted corporate disposal service for the parastatal.

Named customers22 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Sotheby's: Global auction house handling fine art, jewelry, and luxury goods. Comparable to Auction It's general-asset auctioneer business model (multiple asset categories, seller commission + buyer premium revenue, live and online bidding) though at a luxury scale.
• Copart: Global online vehicle and salvage auction platform. Comparable to Auction It in facilitating online bidding on physical assets on behalf of institutional sellers (insurers, banks, fleet operators), but at vastly larger scale and with proprietary technology.
• Manheim: Large-scale vehicle and remarketing auction operator. Comparable to Auction It's online-plus-physical auction model and its role in disposing of corporate fleet and dealer assets on behalf of institutional clients.
• Bonhams: International auction house with broad asset-class coverage and online bidding. Comparable to Auction It's multi-category, multi-format (auctions, sealed bids, private treaty) asset-disposal service offering, particularly for higher-value consignments.
• Auction.com: Online real estate and distressed-asset auction marketplace. Comparable to Auction It's bank-driven distressed/REO-style asset disposal work (e.g., Stanbic Bank, Bank Gaborone) but focused specifically on real estate.

Peers

• Heritage Auctions: Large US-headquartered auction house running online and live auctions across collectibles, art, and specialty assets. Comparable to Auction It's catalogue-library-plus-online-bidding approach and multi-asset-category auctioneer model.

Direct peers

• IAA (Insurance Auto Auctions): Specialist salvage and total-loss vehicle auctioneer serving insurance carriers. Directly comparable to Auction It's insurance-company asset-disposal work (Botswana Insurance Company, Bryte, Old Mutual, AON) and use of live + online auction formats.
• GovDeals: Online auction platform specializing in government and institutional asset disposal. Directly comparable to Auction It's government/parastatal auction work (BPC, BTC, Water Utilities, Ministry of Environment), with a similar online-bidding + seller-commission model.

Emerging players

• Jumia: Pan-African e-commerce platform with marketplace and auction-style listings. Comparable in serving Southern African consumer sellers online and in providing an alternative digital sales channel to physical auction houses like Auction It.

Regional players

• Bidorbuy: South African online auction and marketplace platform. Comparable to Auction It's online auction channel (auctionit.bid) and consumer/SMB seller base in Southern Africa, though Bidorbuy operates as a broader marketplace model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/auctionitbots
• LinkedInlinkedin.com/company/auction-it-bw

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Auction It