SUCCESSFUL CASES
Three residential apartments in Shanghai were sold in September 2016 at an auction hosted by SICA at Shanghai Public Resources Auction Center.
The apartment located in Songjiang District with a starting price of RMB 1.7716 million yuan was sold after 119 rounds of bidding at the hammer price of 3.68 million with a premium rate of 107.7%.
The apartment located in Jiading District with a starting price of 2.79 million yuan was sold after 13 rounds of bidding at the hammer price of 3.34 million with a premium rate of 19.7%.
The apartment located in Putuo District with a starting price of 8.96 million yuan was sold after 27 rounds of bidding at the hammer price of 10.25 million with a premium rate of 14.3%.
During the SICA Spring Auction 2016 for Chinese painting and calligraphy, works by Guangdong artists collected by the consultant at Guangzhou Art Academy, Mr. XU Liang, booked pleasing results among buyers from Guangdong, Shanghai and Hong Kong. Lot 1 was the calligraphy "Joy with Elegance" by LAI Shaoqi (1915-2000), the starting price of which was RMB 30,000 yuan. Its final hammer price reached 100,000. Lot 5 "Greenery Mountains and Water" by LI Xiongcai (1910-2002) was sold at 650,000 yuan from the starting price of 280,000 with a size of only 67*33 centimeters. It set the record of the highest unit price for Mr. LI’s painting at 325,000 yuan which had previously been between 180,000 and 220,000.
SICA was commissioned in 2015 through a strict procedure by the trustee of STX Dalian Shipyard and other five related companies with their assets liquidation, together with Beijing Yatelan Auction Company. SICA was designated for the disposal of the unfinished 23,500-square-meter livestock carrier at the yard. The main structure of the carrier, one of the largest of its kind, had been completed and launched. The lot was sold at RMB 108 million yuan hammer price on June 26, 2015.
SICA was commissioned with the auction of 98% of Leqing Lvcheng Property Development’s equity and its creditor’s claim of over RMB 2.36 billion yuan.
Three bidders took part in the auction held on March 17, 2015 and the Dutch model was adopted. The starting price was 2.4155864 billion yuan. Bidder No. 1 won the lot at the hammer price of 1.12 billion yuan after 198 rounds of bidding. The price set the record of the value of a single lot auctioned by SICA.
The liquidation auction on September 30, 2014 for the industrial factory building located in the China (Shanghai) Pilot Free Trade Zone achieved the hammer price of RMB 248.8 million yuan with a premium rate of 13.09%.
The gross floor area of the lot was 30,825.48 square meters and the land area is 51,246 square meters. The lot is located at No. 160, Basheng Road in the Free Trade Zone. It borders on the west with North Yanggao Road, and is close to Wuzhou Avenue (the Middle Ring Road) on the south. With Metro Line 6 in the vicinity, it enjoys convenient traffic facilities. The starting price of the lot was 220 million yuan, and the hammer price reached 248.8 million yuan after 262 rounds of bidding in over half an hour.
The value of the land and the buildings upon it is expected to rise further due to the optimistic commercial outlook endorsed by the continuing construction and policy of the Free Trade Zone.
SICA was commissioned by Baosteel Group with the auction of 55 residential apartments in May 2014.
After a shorter-than-normal period of marketing, the auction was held on June 30. Fifteen of the fifty-five apartments were sold at the total amount of over RMB 18.48 million yuan. The project team of SICA received high opinion from the seller for the services provided during the preparation, auction, payment clearance, property rights transfer and handover.
SICA not only expanded our business areas with this commission, but also built an efficient service team. The hard work of the team members ensured the success of the project and at the same time promoted the SICA brand.
SICA hosted an auction on August 2, 2013 for the building located at No. 319, West Jianguo Road which was the old office building of Shanghai Securities Regulatory Bureau. The auction started at RMB 122.28804 million yuan and achieved the hammer price of 229.5 million after 112 rounds of bidding with a premium rate of 46.72%.
The gross floor area of the lot is 2,997.83 square meters, and the land is state-owned for leasing. The lot included part of the fixed assets preserved inside the building.
Located in a residential villa district, a quiet neighborhood in the bustling city center and home to many historical architectures, the commercial value and potential for appreciation is promising which contributed to the high premium rate.
The commission was received from a court in Gansu Province during a sluggish economic environment of the real estate market in Shanghai. A Vice President of SICA led the project team to overcome the challenges and ensure the commission was carried out with success.
Three smaller apartments were sold during the first auction held on July 26, 2013. The starting price of one villa located on West Suzhou Road in Shanghai was RMB 3.6 million yuan and reached the hammer price of 3.92 million. The total amount of all three was fixed at 9.09 million.
The second auction took place on August 22. Fully prepared beforehand with proper marketing, the SICA project team sold the rest three lots. The one located on Huamu Road and the one in Hongqiao achieved the premium rate of respectively 14.35% and 15.89%. The total amount of the three real estates reached 99.96 million yuan. The close rate of the first auction was 50% and 100% of the second one. Total amount of the two auctions was 109.05 million yuan with an average premium rate of 7.8%. It was an outstanding achievement considering the market environment in 2013.
On December 6, 2012, SICA hosted the "41st State-owned Land Use Rights Auction" in Nanning city where two pieces of land were put on the market. One, numbered GC2012-095, was 51.084 acres with a starting price of RMB 4.79 million yuan, and the other, numbered GC2012-097, was 7.768 acres with a starting price of 7.1 million yuan.
After fierce competition, GC2012-095 was sold at over 644.49 million yuan after 31 rounds of bidding with a unit price of 6.65 million yuan per acre. GC2012-097 was sold at over 81.95 million yuan after 55 rounds of bidding with a unit price of 10.55 million yuan per acre. The premium rates are respectively 38.83% and 48.59%.
As the first auction firm in both common and forfeited vehicles disposal, SICA is experienced in vehicle auction sales, and was the designated institution by the Ministry of Public Security, the State Administration for Industry and Commerce and the General Administrations of Customs in 1995 for the forfeited vehicles auctions. SICA drafted the "Vehicles Auction Code", one of the first four national standards in the auction business in China.
SICA is also the first designated auction firm licensed by the Shanghai Municipal Administration for Industry and Commerce and the Municipal Bureau of Public Security. Over the past 20 years, we have auctioned, among others, first-hand, second-hand, prototype, test run cars of both imported and domestic models commissioned by corporate, government and individual clients throughout China. During the reform of the public service cars regulations, SICA served as the auctioneer for the Shanghai Municipal Government Offices Administration, Municipal Government of Suifenhe in Heilongjiang Province, the district governments of Qingpu and Songjiang in Shanghai, Baoteel Group, Shanghai Telecom, Shanghai Pudong Development Bank and Shanghai Tyre & Rubber Co., Ltd. Our professionalism, high quality service and sense of responsibility have won the acknowledgement from our clients while SICA has accumulated experience and developed at the same time a set of procedures for vehicles auction as well as an efficient team.
By our strength and diligence, SICA received commissions for the service cars auctions of most local governments in Shanghai in 2012 as the reform of service cars regulations reached its peak in that year. During 2012 and 2014, SICA was commissioned by the district governments of Jinshan, Yangpu, Hongkou, Jing’an, Xuhui, Huangpu, Baoshan and Shanghai Municipal Government Offices Administration, and received high opinion from all parties.
SICA was commissioned in November 2009 by financial institutions with the auction of 54 residential apartments in Shanghai, 39 on West Weifang Road, 13 on Fumin Road, 1 on Huashan Road and 1 on Xingyi Road. Property rights transfer and handover were completed for all 54 apartments by March 31, 2010.
Eleven bidders from Jiangsu, Zhejiang and Shanghai, both individual and corporate, registered for the auction. The auctioneer announced the starting price of RMB 298 million yuan with the increment of 1 million after receiving the sealed reserve price. Bidder No. 18 won the auction at 353 million yuan after 50 rounds of bidding over 40 minutes.
