Page 21 - One report AUCT2024_Eng

Part 1
Business Operation and Operating Results
5. Korat Bike Fest#2 at Save One Market, Nakhon Ratchasima
The Company held the “2nd KORAT BIKE FEST 2024” event at Save One Market, Nakhon Ratchasima Province, by gathering a variety of models of more than 250 used motorcycles, both electric motorcycles and rare big bikes.
Nature of Business
The Company operates business as intermediary on rendering auction services of all types of property, including other auctioned-related services to facilitate the owner of the property and the bidder, for instance transportation service of auctioning properties, procurement of source of funds for the interested people who participated in auction, by coordinating with the financial institutes.
Property Auction Service
Most of the Company’s revenue derives from broker service fees from rendering property auction services. Such service or administration fees are mainly collected from the buyers (successful bidders) while service fees or commission will be charged with the property owners pursuant to the agreed conditions.
The important factors in doing broker business are transparency, fair practice and ability to respond to the utmost of the needs of the two parties involved: buyers and property owners, whose needs are different as follows:
Buyers : demand a variety of type and quantity of properties to meet their desire and budget.
Property owners : want to sell their properties at the highest prices and choose a broker company that can attract a lot of bidders in order to get the high potential of successful
sales. The high competition can influence the property price.
Given the different needs above, the Company must focus on acquiring a great variety type and quantity of properties in order to attract more bidders which will increase the success rate of the auction and the fair price competition. The Company puts emphasis on providing accurate and complete information about the assets to be auctioned for easier decision making by the bidder. The Company emphasizes in delivering speedy and excellent quality services to buyers and property owners to guarantee customer’s ultimate satisfaction.
บริษัท สหการประมูล จากัด (มหาชน)
21
Union Auction Public Company Limited