Retail News CRM

Tag: auction

  • Thailand forced to cancel 1800-MHz auction

    Thailand forced to cancel 1800-MHz auction

    Thai regulator NBTC has been forced to cancel a planned 1800-MHz spectrum auction after none of the market’s three operators registered to participate.

    Although True Move, Dtac and AIS all picked up the auction documents, none had filed them by the Saturday deadline.

    True Move had already expressed plans to sit out of the auction, but Dtac and AIS only revealed their intentions on Friday.

    In a statement, AIS said the company “considered the auction terms are not appropriate nor in the best interest of the company at this stage.”

    Operators have complained about the high reserve prices – NBTC had set a reserve of 37.45 billion baht ($1.15 billion) per 1800-MHz license.

    The decision by all three operators to sit out of the auction has led to suspicions of collusion, and the NBTC had been planning to ask the government to revoke the remedy measures designed to mitigate the impact of Dtac’s imminent concession expiry in response.

    But the regulator now plans to reschedule the auction before the concession expires to allow Dtac to prevent having its 2G network cut off.

    The regulator is expected to reduce the high reserve price to make the auction a more attractive prospect.

    Lees ook:

    Lees ook:

    Lees ook:

  • Ho Chi Minh City Plans $1B Boost by Auctioning Six Prime Land Lots in Thu Duc

    Ho Chi Minh City Plans $1B Boost by Auctioning Six Prime Land Lots in Thu Duc

    Ho Chi Minh City is on the brink of a financial windfall, aiming to generate over VND25.4 trillion (approximately US$1 billion) through the auction of six prime land lots in Thu Duc City, notably within the sought-after Thu Thiem urban area. This ambitious plan is set to reshape not just the skyline but also the economic landscape of the region.

    Unlocking Potential in Thu Thiem

    The Department of Agriculture and Environment has kicked off the auction process by proposing starting prices for these attractive land lots, pending final approval from the municipal People’s Committee. One standout initiative involves the Thu Thiem Eco Smart City project, expected to contribute around VND16.2 trillion to the city’s coffers through this auction.

    In a further bid to enhance infrastructure, another lot spanning nearly 15 hectares in the An Phu ward is earmarked for auction. This particular site is linked to a build-transfer (BT) contract aimed at a road project, with an anticipated yield of VND3.49 trillion. Additionally, a plot measuring 828 square meters within the Nam Phan housing project has a proposed price tag of roughly VND19 billion. To round off this lucrative offering, three lots in Thu Thiem are submitted for auction with a combined starting value of about VND5.7 trillion.

    The potential revenue from these six strategic lots promises to be a game-changer, bringing the projected total to VND25.4 trillion.

    Vision for Multifunctional Development

    At a recent investment promotion conference, city officials unveiled plans for a remarkable 239 hectares of land available for auction, encompassing 49 lots in the Thu Thiem new urban area and 189 hectares from other development projects. The vision extends beyond mere real estate sales; this land will be transformed into multifunctional spaces for residential, commercial, educational, and cultural use.

    Looking ahead to 2024-25, Ho Chi Minh City is hopeful for a healthy budget revenue of VND32.8 trillion from land sales, largely driven by these auctions and associated financial obligations. It seems the city is not just selling land; it’s paving the way for dynamic urban living.

    And who knows? With the city’s exciting real estate buzz, maybe the next hot trend will be luxury igloos!

    Questions & Answers

    What is the purpose of the auctions in Ho Chi Minh City?
    The auctions aim to raise over VND25.4 trillion (US$1 billion) by selling prime land lots in Thu Duc City to fund urban development projects.

    What kind of projects will be developed on the auctioned land?
    The land will be turned into multifunctional spaces that include residential, commercial, educational, and cultural facilities.

    What are the expected budget revenues from land auctions in the coming years?
    Ho Chi Minh City officials anticipate budget revenues from land to reach VND32.8 trillion during the 2024-25 period, primarily driven by these upcoming auctions.

    Lees ook:

  • Sotheby’s Hong Kong Sets Record Spring Sale

    Sotheby’s Hong Kong Sets Record Spring Sale

    International auction house Sotheby’s has established its second highest total sales in company history for its Spring 2019 Hong Kong auction series.

    Second only to the firm’s landmark 40th anniversary sales total in Autumn 2013, Sotheby’s Hong Kong concluded the season with a total of HK$482 million, exceeding the pre-sale estimate for the series of $428 million.

    The sales were marked by healthy activity across all categories and from all corners of Asia, with a strong combined sell-through rate of 90 per cent.

    “These superb results are up on what were already very strong results last spring, despite the fact that the estimates were lower than a year ago,” said the firm’s CEO Tad Smith, adding “our excellent performance against low estimate is a clear indicator of the health of the market in Asia and bodes very well for our important upcoming May auctions in New York.”

    “With all eyes firmly fixed on our Hong Kong sales for this first indicative season, I think we can say that the Asian market did not disappoint,” commented CEO of Sotheby’s Asia Kevin Ching. “Our total follows what was already a record year for Sotheby’s in Asia, with this season’s results now sitting among the top results we have ever achieved here in Hong Kong – a testament to the fact that, when you get it right, collectors from across Asia remain ready to go the extra mile.”

    Sotheby’s Asia chairman Patti Wong added: “When building the sales for these big seasons, we try to keep our finger firmly on the pulse of our collectors so as to understand, not only what they want right now, but also where their interests are taking them, so our offerings reflect both where the market is and where it is going. That is why we are bringing an ever-more diverse range of material to Hong Kong, along with an ever-wider range of possibilities for collectors to engage with us. This, for me, is what is so exciting about these seasons – they are not only a data point for the Asian market, they are also a testimony to the excitement, and opportunity, that exists within it.”

    Among the highlights of the Sotheby’s Hong Kong season:

      • The auction house staged 20 auctions in nine categories featuring 4331 lots and attracting more than 35,000 visitors.
    • Six lots sold for in excess of $100 million.
    • Wine sales totalled $273 million, setting a new world auction record.
    • Sales of modern art realised $851 million, the top lot being Wu Guanzhong’s Lotus Flowers (I), which fetched $130.8 million, more than 8.5 times the estimate.
    • The highest-totalling series of Contemporary Art sales staged in Asia, realising $802 million.
    • A record for a work by a female artist sold at auction in Asia: Kusama Yayoi’s Interminable Net #4 sold for $62.4 million.
    Lees ook:

    Lees ook:

  • Le Eco Auctioning Beijing Mall on Taobao for RMB2.3B

    Le Eco Auctioning Beijing Mall on Taobao for RMB2.3B

    Chinese tech firm LeEco has put a Beijing shopping centre up for auction on Chinese e-commerce platform Taobao. Experiencing financial difficulties, yet determined to uphold its online trading practices, the firm has listed the 50,000sqm Beijing Shimao Gongsan Plaza at a reserve of RMB2.3 billion (US$334 million). The move follows legal action by mortgagor China Citic Bank against LeEco for failing to meet repayment obligations.

    The auction opens on Taobao’s distressed asset channel, which saw an 88 per cent rise in listings in October against the backdrop of China’s enormous bad debt market. Under supervision of the courts, the auction will start on January 7 at 10 am and run for 24 hours.

    The property was expected to sell last year to leading Chinese developer China Vanke, but was not traded due to unmatched expectations in price.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • “Pink Legacy” diamond is sold at 50 million USD

    “Pink Legacy” diamond is sold at 50 million USD

    An unusually large pink diamond sold for a record-breaking $50 million (about 50.3 million Swiss francs) this week at Christie’s auction house in Geneva. After five minutes of bidding, the 18.96-carat Pink Legacy became the world record holder for price paid per carat for a pink diamond at auction.

    Christie’s international head of jewelry, Rahul Kadakia, said it was purchased by American luxury brand Harry Winston, and will be renamed the Winston Pink Legacy.

    “You have to acknowledge first that the Pink Legacy diamond was a very special diamond,” Kadakia said. “It is one of the best and finest examples of pink diamonds at this size and color and it proved it with a new world record price per carat.”

    The diamond went under the hammer as part of the annual Magnificent Jewels auction and attracted a huge amount of interest because of its large size and impressive color grading.

    Pink Legacy is categorized as a “Fancy Vivid” diamond, the highest grade of color intensity. Only 1 in 100,000 diamonds receives the grading.

    The diamond is an even rarer find because of its size, as Fancy Vivid Pink diamonds larger than 10 carats are “virtually unheard of,” according to Christie’s.

    “This record-busting price fetched suggests the diamond trade is in good health and signals the market’s sensitivity to Australia’s Argyle mine’s imminent closure in 2020,” Eddie LeVian, CEO of jewelers Le Vian, said in a statement. “With Argyle producing 90% of the world’s pink diamonds, what do you think the value of this diamond will be in five years from now?”

    Christie’s did not identify the jewel’s latest owners but it once belonged to the Oppenheimer family, who ran the De Beers diamond mining company for three generations until selling their stake in 2011.

    The sale is the latest in a booming market for large pink diamonds.

    Lees ook:

  • Chinese Used Car Auction Platform Tiantianpaiche Receives $100M Investment From Autohome

    Chinese Used Car Auction Platform Tiantianpaiche Receives $100M Investment From Autohome

    Chinese used car auction platform Tiantianpaiche has received US$100 million strategic investment Autohome, a Chinese automobile online platform, according to Tiantianpaiche’s announcement on its official WeChat account.

    Autohome also obtained the right to invest as much as US$65 million in the form of convertible notes in Tiantianpaiche in the three years after the completion of this investment. The two companies will deepen their strategic partnership going forward, with more operational cooperation and integration.

    The announcement came a day after Tiantianpaiche’s peer Chezhibao, Nanjing-based customer-to-business used car auction platform, raised a RMB800 million (US$125 million) series D round led by Chinese private equity fund Green Harbor Investment.

    Used car online auction platforms have been raising billions of U.S. dollars in China, trying to compete to become the market leader. But at least a handful of companies are still vying for the number one position, and no clear winner has emerged. For Tiantianpaiche, taking Autohome as a strategic investor could anchor its future and help it better compete in the market place.

    Founded in 2015, Tiantianpaiche focuses on a customer-to-business model connecting sellers of used cars to used car dealerships. After this round, the firm has raised a total of US$353 million in total fundraising. It has more than 40 offline shops in Shanghai, Beijing and Guangzhou. It expects transaction volume on its platform will reach one million vehicles annually in 2020, said the company.

    The proceeds of this round will be used for business expansion to more cities in China and develop new businesses including used car retail and used car financing services.

    Tiantianpaiche raised a total of US$180 million C round last year. Its investors include Tencent, SIG, SB China Venture Capital (SBCVC), Yiche.com and others.

  • Rare bottles of whisky fetch record US$1m each at HK auction

    Rare bottles of whisky fetch record US$1m each at HK auction

    Two bottles of rare 60-year-old Macallan whisky fetched a total of more than US$2 million under the hammer on Friday in Hong Kong, Bonhams said, with both sales shattering the previous world auction record for the spirit.

    One bottle, bearing a label designed by British pop artist Peter Blake – who helped create the sleeve of The Beatles’ album “Sgt. Pepper’s Lonely Hearts Club Band” – was sold for HK$7.96 million (S$1.36 million).

    The other bottle, whose label was designed by Italian artist Valerio Adami, went for HK$8.63 million, a new world record for whisky sold at auction.

    Both 750-milliliter vintage bottles were distilled in 1926 and matured in a sherry hogshead cask until being bottled in 1986. Only twelve of each Macallan were ever produced.

    “These two bottles are not meant for sale. They were given to some of the Macallan’s most loyal business partners or clients,” said Daniel Lam, head of wine and whisky at Bonhams in Hong Kong.

    Whisky prices have soared in recent years, with buyers shifting their attention from bigger names to rare bottles from Scotland and Japan among others, according to Bonhams.

    In 2014, a bottle of malt whisky – Macallan ‘M’ Decanter 6-litre Imperiale – set the last record of HK$4.9 million at a Sotheby’s auction in Hong Kong.

    The value of Macallans 18 years and older has doubled in value over the past year, Mr Lam said in an interview.

    While new whisky tends to be more industrialised, in the ’80s and before that it was handcrafted, Mr Lam said, adding that well-kept whisky can last forever.

    In April, two other 60-year-old Macallans from 1926 were sold at a Dubai airport retailer for US$600,000 each, breaking the record for the most expensive whisky sold in retail.

    There is growing interest in whisky in Southeast Asian countries such as Vietnam, Thailand and Indonesia, as well as in China, Bonhams said, especially among a younger generation of collectors.

    “Whisky is more like a young generation drink now, compared to cognac or even red or white wines,” Christopher Pong, wine and whisky specialist at Bonhams said.

    Wealthy Asian buyers have shown frenzied interest and deep pockets at art auctions in recent years, with sales of paintings, diamonds and ancient ceramics shattering world records.

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

    Lees ook:

  • SG e-Auction bidding luxury goods

    SG e-Auction bidding luxury goods

    MoneyMax Financial Services has launched Singapore’s first online B2B auction platform for luxury goods, SG e-Auction, together with Japanese B2B internet auction company Aucnet Inc.

    As well as luxury branded merchandise, the site will bring buyers and sellers together for auctions involving gold and diamond goods.

    “This distribution channel allows us to tap into the growing market of pre-owned luxury goods in Southeast Asia on the back of a rising middle-income class,” says MoneyMax executive chairman/CEO Dr Lim Yong Guan.

    He says the channel already has members from Singapore, Malaysia, Vietnam, Hong Kong, Japan and the US. “With the eventual link up of SG e-Auction and Aucnet online platforms, buyers will have access to a greater variety of luxury goods while sellers will gain a wider pool of ready customers.”

    Listed since August 2013, MoneyMax is a pawnbroker, retailer and trader of pre-owned luxury items. Since its first outlet in 2008, the company has expanded to 68 outlets and has a presence in Singapore and Malaysia.

    In February 2015, the group launched MoneyMax Online as Singapore’s first pawnbroking chain to offer a platform for shopping, selling and appraising valuables.

    Established in 1985, Aucnet started as the world’s first provider of TV auctions of used cars, later developing its business to include used motorcycles, used digital products, flowers, used luxury items and used medical equipment.

    Incorporated in September, SG e-Auction is Singapore’s first B2B online auction platform for luxury branded merchandise, gold and diamond goods. A JV between MoneyMax (51 per cent) and Aucnet, SG e-Auction aims to transform and simplify how businesses buy and sell.

  • South Korea to hold 5G auction June 15

    South Korea to hold 5G auction June 15

    The South Korean government has announced plans to hold an auction for 3.5-GHz and 28-GHz 5G spectrum on June 15.

    The government has also decided to go with its first proposed option of distributing the spectrum evenly among the nation’s three operators – SK Telecom, KT and LG U+ – rather than allocating the largest portion of spectrum to the highest bidder.

    Likewise, the government plans to limit bid amounts to stop the auction from being overly competitive and burdening the winners with high spectrum costs.

    With the move, the ICT ministry hopes to set the stage for the commercialization of 5G technology in South Korea.

    South Korean operators are expected to be among the earliest adopters of 5G technology. Currently KT has announced plans to launch commercial 5G services in March, and is expected to be the first South Korean operator to go live with the technology. But both KT and LG U+ have significant 5G rollout plans of their own. The operators already trialed 5G during the recent PyeongChang Winter Olympics.

    Lees ook:

  • Five apply for Philippines’ new entrant auction

    Five apply for Philippines’ new entrant auction

    Five different companies have reportedly expressed an interest in bidding to become the Philippines’ third operator during next year’s planned new entrant spectrum auction.

    Companies including Philippines TMT company Now Corporation and ISP Converge ICT Solutions have declared their interest in participating. The three other companies have not been named.

    Now Corp secured a CMTS license in 2006, and plans to find a foreign partner for its bid to become the market’s third mobile operator, the report states.

    Both Now Corp and Converge ICT Solutions offer broadband services to corporate clients, with the latter also offering home and SME broadband services.

    Last month, the NBTC announced plans to hold the planned third entrant auctionin mid-2017.

    Spectrum in the 700-MHz, 2500-MHz, 800-MHz and 3500-MHz bands, surrendered as a condition of the $1.5 billion acquisition of San Miguel Corp’s telecoms assets by incumbents Globe and PLDT, will be put on the block.

    But any new entrant to the market will face an uphill battle disrupting the Globe-PLDT duopoly. The report cites Edgardo Cabarios, deputy commissioner of telecoms regulator NTC, as stating that a thrid entrant should invest at least 30 billion pesos ($604.1 million) over the first two years of operation on a nationwide rollout.

    Lees ook:

  • Myanmar plans 1800-MHz auction in March

    Myanmar plans 1800-MHz auction in March

    Myanmar plans to hold an auction for 1800-MHz spectrum in March next year, some three months later than initially expected.

    The Ministry of Transport and Communications will allocate spectrum to allow operators Telenor Myanmar, Ooredoo Myanmar and MPT to expand their 4G networks.

    The report cites the ministry’s deputy director of posts and telecommunications U Myo Swe as stating that spectrum will be made available to all operators equally.

    But it is unclear whether the planned fourth entrant into the market, the consortium between Vietnam’s military-run Viettel and a group of local ICT and other companies, will be included in the process.

    Myanmar’s mobile operators have been constrained in their efforts to roll out 4G services by a shortage of spectrum, and have been eagerly anticipating the release of 1800-MHz spectrum.

    Telenor and MPT had initially applied to take part in an auction of 2600-MHz spectrum,  but later decided to withdraw from the running and wait for the 1800-MHz allocation instead.

  • Philippines to hold auction for 3rd telco in mid-2017

    Philippines to hold auction for 3rd telco in mid-2017

    The Philippines’ telecoms regulator NBTC plans to hold a spectrum auction for a third entrant into the mobile market in mid-2017.

    The spectrum surrendered by incumbents Globe and PLDT as a condition of their acquisition of San Miguel’s telecoms assets will be bundled together for the auction.

    According to the report, spectrum in the 700-MHz, 2500-MHz, 800-MHz and 3500-MHz bands will be put on the block.

    Several groups have already expressed an interest in potentially participating in an auction to create a third operator. Conglomerate San Miguel had originally intended to fulfil this role, but negotiations with Australia’s Telstra to form a joint venture for the purpose fell through earlier this year.

    San Miguel subsequently sold off all its telco assets to the two incumbent operators for around $1.5 billion. The main motivation was to gain a part of the 700-MHz spectrum band, which San Miguel held the exclusive rights to.

    But as a condition of the acquisition Globe and PLDT were required to relinquish part of the 700-MHz band – as well as spectrum in the 850-MHz, 2500-MHz and 3500-MHz bands – to allow for the potential entry of a third competitor.

    Advocacy groups have expressed concern that the bundle of spectrum due to be put up for auction will not be enough to sustain a major third player, noting that PLDT and Globe between them own nearly 80% of the total available spectrum. Parts of the remaining 20% will be unusable due to the presence of guard bands.

  • India’s mega spectrum auction raises just $9.8b

    India’s mega spectrum auction raises just $9.8b

    India’s major spectrum auction has ended after five days of bidding, raising 657.89 billion rupees ($9.86 billion), far less than the up to $83 billion the government had been anticipating.

    Just 40% of the airwaves placed on the auction block were sold, with no bids at all for the expensive 700-MHz and 900-MHz bands, the Economic Times reported.

    Vodafone emerged as the biggest spender in the auction, spending 202.8 billion rupees for 2 x 82.6MHz of FDD and 200MHz of TDD spectrum across the 1800-MHz, 2100-MHz and 2500-MHz bands in all its key telecoms circles. The operator now has 4G capability in 17 of India’s 22 circles.

    Newcomer Reliance Jio Infocomm paid 136.72 billion rupees to build a warchest of 269.2MHz of additional spectrum in the 800-MHz, 1800-MHz and 2300-MHz bands.

    The operator acquired spectrum across all 22 telecoms circles, but in no circle did the company acquire spectrum in all three bands. Jio said its total spectrum footprint has now grown to 1,108-MHz, further cementing its lead in terms of liberalized spectrum holdings.

    India’s largest operator Bharti Airtel paid 142.44 billion rupees for an additional 173.8MHz of spectrum in the 1800-MHz, 2100-MHz and 2300-MHz bands. The operator now has 4G spectrum in all circles. Idea Cellular spent around $1.92 billion.

    All seven participants in the auction acquired at least some spectrum

    Lees ook:

  • Telenor, MPT apply for Myanmar 2600-MHz auction

    Telenor, MPT apply for Myanmar 2600-MHz auction

    Telenor and Myanmar state-owned operator MPT have both lodged expressions of interest regarding taking part in Myanmar’s first spectrum auction in October.

    The operators are among the potential bidders for 40 MHz of 2600-MHz spectrum reserved for mobile broadband services.

    Multiple ISPs and other companies – including Yatanarpon Teleport and Myanmar Telecommunication Network – have also lodged expressions of interest regarding the auction. In total, 22 companies have applied.

    Of the total number of applicants, 20 have been accepted as potential bidders, while the applications of two were rejected due to those companies lacking the required network facilities service license.

    Selected bidders will need to meet financial and technical prerequisites, including providing a $500,000 deposit, to qualify.

    By contrast, Telenor Myanmar’s main rival Ooredoo Myanmar has elected not to participate in favor of waiting for a separate 1800-MHz auction, which the operator expects to take part later in the year.

    During the auction the 40 MHz of 2600-MHz spectrum will be divided into two 20 MHz licenses, and this will itself be divided into three separate regions. Bidders will not be allowed to win more than 20 MHz in any one region, and will only be allowed to secure spectrum in up to two regions.

    Lees ook:

    Lees ook:

  • India’s spectrum mega-auction set for Sept 29

    India’s spectrum mega-auction set for Sept 29

    India’s Department of Telecom has set the date for India’s largest spectrum auction to date, announcing that bidding will commence on September 29.

    The massive auction will be preceded by a pre-bid auction on Saturday. The government has also pledged to make the spectrum available to the winners within 30 days of receiving an upfront payment.

    In total more than 2,300 MHz of spectrum divided into 126 blocks will be auctioned next month. Analysts expect bidding to reach as high as $14.8 billion, while the government believes bidding could reach up to $83 billion.

    But operators have been less than enthusiastic, with Airtel’s CEO recently announcing that the company sees no “great need” for more spectrum, and Telenor revealing that its Indian subsidiary will sit out of the auction.

    Specturum in the 700-MHz, 800-MHz, 900-MHz, 1800-MHz, 2100-MHz and 2300-MHz bands will be put on the block.

    Winners of spectrum in the three lower bands will be required to pay at least 25% of their total bid within 10 days of the auction concluding, while the other bands will require a 50% down-payment.

    Lees ook: