About

DIGITAL ACTIVEMEDIA AUCTIONING SERVICES

THE ROLE OF A LICENSED AUCTIONEER

The public auction subjects all possessions to equitable public appraisal and competitive offer and thereby determines fair and current value of all personal goods and estates.

The Auctioneer is the master of procedure and conduct of the public auction. He is a confidant of the public, an instrumentality of community progress and development. Such functions impose grave responsibilities and duty beyond ordinary business policy to which he must dedicate himself and strive to maintain the highest standards of his profession and share with his fellow Auctioneers a common responsibility for its Integrity and Honor.

Accepting the Golden Rule as his standard the Auctioneer pledges himself to observe the Law of God and of the Land in all his dealings and to conduct his business in accordance with the following Code of Ethics adopted by The Auctioneers Association of Malaysia.

HISTORY

The Greek historian, Herodotus, documented the first auction chronicles about 500 BC. He described the annual wedding auctions where women of physical maturity were sold for the purpose of marriage. The depiction Herodotus gave of the Babylonian auction describes bids being made contrary to present day auctions. Instead of starting low and going up, the offers for brides started high and went down until a bidder accepted the maiden.

The Romans employed auctions as a system of commercial trade. The term auction comes from the Latin word ‘auctus’ which means to increase hence auction. The sale of the entire Roman Empire is regarded as perhaps the most preposterous auction of all times. Didius Julianus won the bid and was proclaimed Emperor by popular vote but for only a short time as he was later beheaded.

It is believed that the Roman Empire expanded the roots of auctioning to England when its’ empire spread in that direction. King Henry VII required auctioneers to be licensed in the 13th century. A ships log on a voyage of Christopher Columbus mentions the purchase of goods in Britain at public outcry.

In the sixteenth century English auctions ere held "by candle." Samuel Pepys describes such an auction in his diary of September 3, 1662: "After dinner by water to the office and there we met and sold the Weymouth, Successe, and Fellowship hulkes, where pleasant to see how backward men are at first to bid; and yet when the candle is going out, how they bawl and dispute afterwards who bid the most first."

During this period auctions were held in city inns and coffee houses and at the Banqueting House, which it seems, could be hired by anyone close to the king. While auctions were being conducted in Britain, the European continent was following their example of the sales system with auction rooms in many countries.

Malaysian auction system was based on this concept of auctioning. With considerable influence of the British system, Malaysian auctioning practice have successfully concluding auction sales with numerous satisfied Clients.

Auction Laws of Malaysia

The Auction Laws in Malaysia are govern by the following legislation:

Auction Sales Enactment F.M.S. Cap 81 (No. 2of 1929).

Auction Sales Rules – Selangor, Negeri Sembilan and Pahang

Auction Sales (Extension to Trengganu) Ordinance 1955 (FM No. 58 of 1955)

Auction Sales Enactment

Auctioneers Enactment – Kedah(FM No. 8)

Auctioneers Ordinance – Sabah(Cap 9)

Auctioneers License Ordinance(S.S. Cap 198)

Miscellaneous License

THE AUCTIONEER:

DIRECTOR

Name: ISACC SUNDER RAJAN

Nationality: Malaysian

Qualification: B.Sc. (Hon) Housing, Building, Planning(USM)

Prof. Qualification:

Member of the Royal Institution of Surveyors Malaysia

Licensed Auctioneer for the State of Perak, Selangor, Negeri Sembilan, Wilayah Persekutuan Kuala Lumpur.

Experience: Licensed Auctioneer since 1988

AUCTION FAIR EXPERIENCE:

Digital ActiveMedia Sdn Bhd has the experience in the event management of one of the largest Auction Property Fair for an International Bank HSBC in November 2003 at Mid Valley Shopping Complex Hall 3. Since then our pioneering experience in successfully carrying out a major Auction Fair has prompted other Auction Fair organizer's to follow our methods of holding pre-auction promotions in major complexes to promote Auction Fair and the use of credit cards to make down payments and the reduction of the initial down payment deposit from the normal practice of 10% to 5 % .

In 2006, we conducted several mini Auction Fairs for Bumiputra Commerce Bank at our office premises in Wisma Central, Kuala Lumpur.

In 2005, we conducted Open Tender Exercise for a private client for the Sale of Excess Silk & Polyester Fabrics Inventory with a market value in excess of RM2.0 Million.

ABOUT DIGITAL ACTIVEMEDIA SDN. BHD.

We have been involved in the Real Estate and Property Auctioning business since 1988, and operating with 2 branches in Ipoh and Negeri Sembilan and the Headquarters in Kuala Lumpur.

LIST OF BANK CLIENTS:

Bank of Nova Scotia, ABN AMBRO Bank, Alliance Bank, HSBC Bank Malaysia Bhd, Maybank, CIMB Berhad

LIST OF HIGH COURTS/MAGISTRATE/SESSIONS COURT, PEJABAT DAERAH CLIENTS WHICH WE ARE IN THE PANEL:

High Court of Kuala Lumpur Ipoh,Taiping, Shah Alam, Seremban, & Kuala Lumpur

Magistrate Court of Shah Alam, Seremban, Kuala Lumpur

Pejabat Daerah /Tanah Petaling, Pejabat Daerah /Tanah Hulu Langat

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