Member Feature
Refaegen Lutchman - BidPower
It’s always fun meeting new Auctioneering companies and finding out what their dreams and goals are for the business, as well as the Industry as a whole. This past month, SAIA welcomed BidPower Auctioneers – a new Auctioneering company that was started in 2021 by Refaegen Lutchman and Renita Maharaj.
Refaegen’s passion for trading started at a tender age – while he was still in school, he got involved in selling various scholar friendly consumables to his fellow students. After high school, he joined his family’s business of selling used vehicles – a business that was and is still very successful. “I was then introduced to the auction method of selling things and that is how I fell in love with the industry and decided to build a career out of it,” he said.
When asked who some of his mentors have been, he said, “I have worked for and with many experienced individuals who have cultivated and worked hard towards growing this Industry. They have all played a vital role in mentoring and supporting my efforts to learn and grow daily.”
Mr Lutchman says he had been toying with the idea of going on his own for some time but realised that he needed the required experience and expertise. In 2021, he set a goal to start his own business come 2022 and was then approached by the Director of BidPower. He then joined BidPower at the start of 2022. “The journey thus far has been very insightful, and we have learnt a lot about the finer details of an auction company and how it should operate,” Refaegen stated, saying that sometimes we only see things at face value.
But what inspired him to start his own business and join forces with BidPower? “After working for various auction companies and gaining the knowledge and experience, I was inspired and motivated to join BidPower Auctioneers and a bring trendy, forward-thinking and a fresh approach to the industry.”
And what are they hoping to bring to the Industry as a whole? “We see ourselves as market disruptors and believe that we will bring massive changes to the industry in terms of a fresh approach and technological innovation.” Refaegen went on to say that they are wanting to change the Industry in term of demographics and to introduce more youth and people of colour to the Industry.
BidPower builds their company on values of truthfulness, providing quality service, respect, transparency and being solution orientated. “Bidpower respects your business and trust. We ensure delivery on our promises,” is the company’s mission statement. The company specialises in loose assets at the moment such as Mining and Construction equipment, Catering and Office equipment as well as Household items and heavy and light motor vehicles. As soon as PRPA open their doors for new registrations, the company will be branching out to the fixed property market. They currently operate in the Gauteng, North West and Polokwane regions and through strategic alliances and collaborations, will be expanding their footprint to the rest of South Africa.
Refaegen’s favourite part of being an auctioneer is the creation of value to both the buyers and the sellers in various industries, and the fact that the Industry is not monotonous and that one gets to deal and learn from many different industries and how they operate.
What are some of Refaegen’s dreams and plans for the business and where does he see the company in 5 years’ time? Well, they strongly believe that team work creates a solid foundation for any business. “Our TEAM consists of highly experienced employees who have a passion for the Auction Industry. Our aim is to enable them to do more than one kind of work. A more adaptable, multi-skilled workforce, ranging from, but not limited to, Operations, Administration, Accounting and Sales,” Refaegen stated. He went on to say that his main goal and mission for BidPower Auctioneers is to bring change to the Industry and for BidPower to thrive towards being the leading powerhouse he has envisioned. “I would like to see us “bamba and chill with the big boys.”.
We wish BidPower everything of the best as they take the Auctioneering Industry by storm!
BidPower
https://bidpower.co.za/
https://www.auctioneering.co.za/auctioneer/bidpower_auctioneers_(pty)_ltd-8314/
Refaegen Lutchman
066 147 1469 | 072 616 8119
[email protected]
Print