Page 11 - One report AUCT2024_Eng

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Policy and business overview
Union Auction Public Company Limited (“The Company”) was registered as Union Auction Company Limited on 2 August 1991 with the start-up registered capital of 3 million Baht. The Company’s business was to conduct an auction of automobiles, under the management of Mr. Thepthai Sila, its promoter and business pioneer to offer the alternative of automobile buying/ selling services and to create the ultimate satisfaction for customers, both buyers and sellers. The Company was considered the first company in Thailand conducting the automobile auction as an “Open Auction” in which the buyers showed the intention of purchase by offering the price to the public or participating bidders. The winner was the last one who offered the highest price.
The company’s business mainly provides automobiles and motorcycles auction services and other types of assets according to customer’s demand, such as land and houses, furniture, electric appliances, and brand-name products to meet the needs of customers, both buyers and sellers, from many financial institutions, private sectors and governmental sectors.
The Company continues to develop the Company’s services for sustainable growth and to put an emphasis on providing quality services by enhancing its operations and management to be professional for reaching international levels. This included auctioning several kind of products to meet every need of the customer. The Company established quality service policies that focused on management and transparent auctioning including giving accurate and fair information in every step. The Company developed a web based auction system that connected the working systems of different departments, offices and online warehouse auctions. This helped to inspect the condition of auctioned goods systematically and with real time standards. The Company appropriately assessed mid-priced assets or opening bids and received approval from asset owners. As a result, all bidders were able to purchase assets at an appropriate price according to the asset’s condition and quality. This increased the value and success to both business allies and customers and aligned everyone with the company’s motto,
Organizational structure and operation of the company
Part 1
Business Operation and Operating Results
“Your Success is our Pride”
บริษัท สหการประมูล จากัด (มหาชน)
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Union Auction Public Company Limited