Postponement of Castle de Wildt Golden Breeders 2017 auction

19 Mei 2017
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Postponement of the 6th Castle de Wildt Golden Breeders auction (2017)

Press release
For immediate release
19 May 2017

After careful consideration, Bernard Groenewald, owner of Castle de Wildt, announced this morning that the 6th Prestige Castle de Wildt Golden Breeders Auction, scheduled for the 8th July 2017, will be postponed until 2018.

Our decision to postpone the 6th Prestige Auction is based on sound business principles. Our obligation and fiduciary duty to our previous and future clients are the driving force behind our decision.

We recognize and respect that the economy is the chief motive behind the current below-value game prices. The production costs of prime animals, bred to the highest standards are much higher than the price offered on auctions today. It would be irresponsible and unwise to offer animals of such superior quality for undeserving returns on our investments says Bernard.

Castle de Wildt has always advocated that the wildlife industry - like any other industry - follows the economic curve. We have the utmost faith that the economy - similar to the real estate market a few years ago - will recover and likewise will the price of rare game. At the onset of the recession, real estate which was valued for example at
R 1 million would sell for a mere R 300 000.00. One was, however, under no obligation to sell, and had one held on to the asset, one would today be able to sell it for R1,5 million. LBGH - holding company of Castle de Wildt - bears testimony to this, because at the time of the recession we purchased property at lower values, resulting in dropping the average cost of all our properties.

The same principles applies to the stock exchange, when share prices are low, one would wait until the market recovers before selling. Should one sell at this point, one would realize a loss with immediate effect. This is the same for the wildlife industry.

“Consider this scenario,” says Bernard, “if you have purchased a black impala in 2016 for R 80 000 and you buy four black impalas today for R 20 000 each, the average price of your investment calculates to R 32 000 per animal, which still gives you exceptional returns on capital.

The wildlife industry is and will continue to remain the lucrative industry it was set out to become!
BACK TO THE FUTURE

Castle de Wildt would like to announce that they will be hosting a Wildlife Industry Indaba at Castle de Wildt on the
7th of July 2017. Bernard further emphasizes: “the time has arrived that we, as an industry, come together in order to benchmark our business processes and performance metrics to blueprint industry bests and best practices".
More information regarding the Wildlife Industry Indaba will follow shortly.

This press release was prepared by Engeline Gericke from Essential Marketing on behalf of Castle de Wildt and Golden Breeders. Enquiries may be directed to:

Engeline Gericke
engeline@essentialmarketing.co.za
082 770 1701

Johan Oosthuizen
CEO - LBG Holdings and Castle de Wildt
johan@lbgh.co.za
082 456 7892

Leon Botha
Marketing Manager - LBG Holdings and Castle de Wildt
leon@lbgh.co.za
082 928 3579

Castle de Wildt
Post: PO Box 642, Modimolle, 0510
Phone: 071 657 7178
Email: castle@lbgh.co.za