experiences I've had trading the past month or so. So I do regularly, before I used to trade a lot and I have been in the crypto space for a long time, been interested in the development for quite a long time. Long time viewers know that I've been interested in crypto since Bitcoin was in the single digit, so quite early. But before we get into that, let's just play the ad. So waka na ba sa unactivated windows mo? Well, lucky you! Pinakabago mola sa CDKoffers.com Windows 10 and Windows 11 activation posts. Legit, safe, and pinakamura. Madalilaw morder. Hanabi ang address version na gusto mo. Piliin ang preferred pay pen friend mo. Wala pang 5 minutes na CDK na para sa windows mo. Maraming na kaming na tulungan. Date, 7-D purchase ako. But now, I'm from a log of my life. Date, ing-lesson walang purchase ang life ko. But now, I'm a world-class Zuba instructor. So web developer ako and content creator for a YouTube channel. And ngayon ganun pa rin ako, pero activated na yung windows ko. Kaya ako naghanap ka ng legit, mura, at original software. Check out CDKoffers.com Check out CDKoffers.com Check out CDKoffers.com Yon. So just to do the introduction again, thanks for joining me for another episode of Crypto Watch. I am trying out a different camera angle dito. Usually, nandito sa harap ng primary monitor ko, pero ngayon nandito na sa... send an angle on the side. Just trying to be, you know, spicing up a little bit. But the content or the... what we're gonna be talking about this episode is bakit tumalon yung ripple? So ripple is one of the... one of the OG cryptocurrencies. And last week, it jumped by around 70% in the span of 12 hours. So bakit nangyari yun? Just to put that into perspective, if you bought it prior to the big jump. So let's say you put 10,000 pesos in crypto after the jump. Let's say you sold it at the highest, around 70%. May 17,000 pesos ka na. So yun nga, medyo wild. Just to put things into perspective. Which is why it's interesting to follow the crypto space. Talagang... it's like... I've said it before many times on the show. It's like a roller coaster akit ba ba talaga siya. You know, you can go super dizzying highs and like the bottom. Sometimes when the prices are dropping, you feel that they'll never stop dropping. It's like you're in a free fall. It's like they're dropping like a rock. But... So what happened last week? And then... Because what happened last week has implications not just for repoll. So hindi lang repoll yung napektuhan. It's basically why... For... So crypto has been in crypto winter. Or they call it that kasi sobrang bumagsak yung presyo over the past year or so. To put that into perspective, like Bitcoin was at a high of around... All-time high ata niya mga 60,000 plus US dollar. So for one Bitcoin, I think the highest point it ever reaches around 60 plus K. It plummeted. And then, you know, a lot of things happened. Like yung yung a boom bust cycle siya. So we're currently in the latter stages of the bust cycle. Bumagsak siya to around 19K and then now it's clawed back up to 30. But before the decision... So what happened to repoll? And why did it affect everybody else? One of the reasons for the crypto winter is that the USSEC was investigating a lot of the cryptocurrencies and filing cases against them. Against the developers of those cryptocurrencies. Not just the developers, but also the exchanges. That's bad on multiple fronts.  Or, if you're an investor, you want a lot of people in the market. The more people putting money into crypto, the better. But if the SEC goes after the exchanges, the primary means by which people are able to exchange. Like, oh, I have dollars, I want to buy crypto. I have pesos, I want to buy crypto. The exchanges are the easiest way to do that. But if a government agency, in this case the USSEC goes after the exchanges, di mahirapan yung mga tao na magpalit ng pera. Yung nga, may hawakaw na pesos, gusto ko palitan into crypto. Without a convenient exchange to do that, then I have no means of doing that. So effectively, I'm cut out of the market. And prior to what happened, the USSEC was really active against crypto so much so that the big exchanges like Binance, like Kraken, already removed some of their functions. Maswere tayong nga tayo dito sa Pilipinas na we still have non-US residents, still have access to those functions. And one of those functions na tinanggal from US residents is staking. So that's relatively a new thing. Dati kasi for crypto, buy and sell lang yun. You buy low, sell high. But recently, or six months, a year ago, they put in staking which is basically like putting your crypto, a particular crypto into a high yield time deposit pero mas mataas. A TD na will get you 5% kung maswere tayong nga. That's 5% per annum. But with the staking of crypto, they'll give you back, the highest I've seen is like 22% per annum. So imagine 22% per annum. But the catch is you're not being paid back in fiat, in US dollar, in Philippine peso, whatever currency.  So let's say secret. SCRT is a crypto and it's per annual, it has a staking option of around 22%. Which was removed, yun nga. Some cryptos, that option was removed from US residents because of the actions of the US SEC. So before we go into why XRP jumped up to 70%, a bit of a background, ano ba talaga yung SEC? So that's the Securities and Exchange Commission. A lot of different countries have a similar regulatory body. We have a Philippine SEC. Yung primary function yung SEC is to regulate securities. A common example. So sorry to get like, it's hard, you can't appreciate what happened to XRP if you don't have a little background, kind of metrotechnical. So the SEC's primary function or one of the primary functions is to regulate securities. And a common example of a security is a stock, a share of stock. There are different kinds of securities. Bonds can also be a form of security. Sorry, can be a form of security. But the most common would be stocks. So you have a share in a company that is a security and that's regulated by the SEC. So, saan tumatalon yung US SEC dito? They claim that some cryptos are some, not all. And in particular, actually, not even Bitcoin, the US SEC never claimed Bitcoin is a security. But they claim that some cryptos are securities. And they filed, and because they're securities, dapat may procedures yan, di mo lang po yung basta-basta ng eventa sa isang exchange. Which is what was happening for crypto in the US exchanges. So you would have a coin, whether it's, say, we'll jump to my favorite, this is my favorite way of tracking what's going on at prices. This is a coin index, it's a site, and so I have my coins already listed here. Not that I've invested in all of these coins, but these are the ones that I like tracking. So here's secret, down negative 2%. Today, rep is up 24%. So, you just can't list. If it's a security, you just can't buy and sell them willy-nilly. You just, yun yan, parang di lang, di lang basta-basta ang pwede mo yung elist and pwede mo yung eventa. Because to be fair to the SEC, both the US and the Philippine, they're in place to protect the public from scams. That's essentially why we have these security regulations kasi dati-date unregulated sila, anybody could buy and sell. Maraming na sa scam, like, oh, itong company, kinahipap yung company, sobrang ganda, bumili ka na. And then either the company was a really bad company, it wasn't making any money, it wasn't a real company, yung purely fictitious scam siya. So that's why the regulations are in place to protect the public from investment scams. And so that's why it's important if a particular crypto is tagged as a security, then those procedures need to be followed, which weren't followed. Kasi yung argument nung developers of the crypto and exchanges that allow the buy and sell of those cryptos is that they're not security. So the US SEC says they're securities and therefore A, you can't sell them until you get approval from us, yun yun yun. But the problem is they didn't get approval kasi yung sa kabilang panig sinasabi nung developers and nung exchanges na hindi naman taw securities. So which brings us to what happened to Ripple. Ripple is being developed by Ripple Labs, one of the earliest movers in the crypto space. Everybody's familiar with Bitcoin. Bitcoin is the crypto that brought prominence to this kind of concept of a cryptocurrency. But there are so many other coins out there now. Ripple is one of the OGs. Like Ripple is one of the original ones. And what sets him apart is na actually maganda yung transfer rates nila because whenever you transfer crypto, may cost yun. You pay something to the network. That's what encourages a lot of people to help the network because you get paid also in that crypto. For example, like if you run an Ethereum node. So you think Bitcoin, but Bitcoin is actually not a good medium to transfer value. Let's say OFW ka. You earn 1000 USD. If you send it back by Western Union, let's say for example, may $25 cut nila. So yung maaabot nalang dito sa mga relatives mo dito, it's $975 kasi yung got cut by you have to pay $25 to Western Union for the transfer. One of the touted advantages of cryptocurrency is that mababa nalang yung transfer fees. But that's not true for Bitcoin. Bitcoin is actually a terrible means of transferring value. Yun nga. You have 1000 USD wherever you are. That's what you earn. You buy Bitcoin, then you send Bitcoin here sa atin. Nalugi ka na sa exchange rate one because you had to buy Bitcoin so you had to pay the exchange where you bought it. And then may transfer fee pa, which is usually quite high. Yung maganda sa Ripple, mababa lang yung transfer fees nya. One of the least, one of the cheapest actually that I've come across. So it's still a good deal. If you earn abroad, you want to send money back here instead of using Western Union, you could convert your money into Ripple and XRP and then you send it via Ripple. Mababa lang yung transfer fees nya. So Ripple was one of the earlier currencies targeted by the US SEC na talagang kinasuhan nila na huy security kayo, di kayo sumunod sa mga regulations namin and we should shut you down. So what happened last week? To be honest, I wasn't really monitoring it. I didn't know that they were expecting the decision. But the court handling the case, the US district court in New York handling or hearing the case decided and if you read the news, parang kalam mo sobrang if you read the news, especially when you woke up and you're checking your prices, let's say yung nga and I do have Ripple here in my tracker. Oh here, it's like the third. Currently it's at 0.77. Actually, we can go we can see the big jump here. So the seven day fork was it the seven day? Sentyo to malun like super at crazy times, man. Crazy times. Look at this. So you're at the ceiling here around July 13. Sorry. So it's like around two 13. Yeah. Around a week ago and it jumps all the way. It jumps all the way to around 80 cents. I mean 81 cents from from around 47 cents per Ripple. So that is that's the hockey puck right there. So bakit bakit nangyari bakit nangyari ito? The district court handling the case somewhat decided in favor of Ripple Labs. I say somewhat decided because if you track the crypto website sa crypto news sites at the time parang very general ang yung sinasabi nila na oh na nalo si Ripple Labs oh na nalo yung Ripple and kaya sobrang tumaas and this wasn't just isolated to crypto. This this chart right here you can see it it how it it raised all of the prices of everybody. Not so much Bitcoin like Bitcoin may be went up like about 32K then it's lump back down 30K but the altcoins the alternative coins really had a field day when this news came out kasi sila actually yung mas matatamaan nung decision but yung na if you read the decision it was actually a split decision so yes on one hand the judge said that if you're selling Ripple to individuals hindi siya security so that's a win right I mean now the exchanges can start selling it again to people and in fact they did the exchanges in the states which removed Ripple and other crypto because they were afraid of the US SEC with this decision na malina na sinasabi na hindi siya security and therefore not covered by the SEC regulations if you're selling to individuals and that's the and there's the but right there because it was a split decision the court found that if you're selling to institutional investors like hedge funds banks pensions then it is qualified as a security I haven't read the decision to be honest I meant to prior to this live stream but to be honest just ran out of time before the live stream to be honest I did have time but like now the live stream was late because I ended up playing Starship Troopers and I blame my friend but I am interested in reading the decision because it seems like a very odd decision to me if you know I'm again as a long time readers know I am a lawyer and I like the things I used to do the specific area of law I used to practice is commercial law so actually it's very super interesting and that's why I'm really interested in the crypto space because it dovetails with a lot of my fascinations computer I was a minor before but also like the evolving legal and regulatory framework surrounding crypto yunya for me it's a very like just reading the what happened like oh if you sell it to individuals hindi siya crypto but if you sell it to institutional investors it is crypto sobrang labunon for me I don't I can't understand how a court could arrive at that decision because usually the tests to determine whether something yunya in the law lataman usually may tests yunya is speech can a certain speech be regulated and I don't mean a speech like just when a politician stands up and and gives a talk it can be any speech like this live stream now is considered speech when can speech be regulated there's a test for that clear and present danger test et cetera all usually that's how judges operate they they are given tests by the supreme court like the supreme court is the one who says okay let's use this test kapag may problema na ganito ito yung apply natin and we'll see if it passes the test for securities the common test is the how we test and but yunya usually the test isn't in who the potential buyer is kaya dung usually it's in it's in control so I am really kinda surprise na the court was able to find in favor of ripple if it's sold to individual investors like myself like the audience out there if you're buying into trading crypto but if it's into if it's sold to institutional investors security siya malabo yung yung yung I don't want to comment I haven't read the decision but it's just fascinating to me that the court would arrive at that kind of decision but anyway the effect on the market as you can see on our in our chart is was very clear like only in crypto can you see some ridiculous kind of chart like this I mean like it's like bonkers oh and it even hit then later on mas tumas pa siya lalo nung yesterday okay actually that dovetails nicely into my next topic but yes so that's the reason why ripple shot up and that's also the reason why a lot of the coin shot up because they're people to cope people were like okay yes and again to be fair to the to be fair to the regulators parang sorry not to the exchanges malabo din talaga yung US SEC it's like we want you to follow our rules and then when the exchanges say well what are your rules what applied to us di parang then naging vague nang SEC ayod nga magbigay nung rules kasi if you give rules then you're going to include people and exclude other things gusto lang niya hawak niya lahat um and it's also ganun yung mga administrative administrative agencies eh they want to keep expanding their jurisdiction kasi so sila na yung bida dun and with crypto wala pang ngarregulate sa space na yun di sila na yung bida dun it's like the US SEC kind of took a very proactive approach in saying that these are securities and therefore they should be under us um kong baga na nadadagdagan yung portfolio nung agency na yun mas ma it's another yun it's an influence grab basically um so but when their exchanges say na let us know how ba do we comply wala rin so much so that in another case I'm not sure it was in the ripple case or some other case ah the judge already got upset with the SEC and said na ano ba talaga yung mga regulations that you are asking the exchanges to comply with because one of the arguments of the exchanges is the rules are so vague now you're saying that you're the rule creating body the rule issuing body but you haven't issued any clear cut rules for for this space um so it's like the SEC is trying to have their cake and eat it too na parang kami yung in charge dito pero ayaw raman magbigay nung rules how we want to comply according to the exchanges but then how do we comply because the rules are not clear so um ang laki nung effect to the prices like the prices really shot up especially for Ripple because one it's we're starting to see like medyo may very something that's very up in the air and uncertain medyo nakakonkertize na you're starting to see judicial decisions in place na klinaklarify nila ano you know what will govern crypto regulations um so that's one just a clarity of just the ensuing clarity in the crypto space I'll be at yung nga we're in very early stages but super helpful at least that na mali now so at least there's a judicial precedent na that you can look on and site later on so that's one reason why the decision is super important and why the prices reacted like that at number two also particularly for Ripple yung they can start selling to individuals which the the exchanges have already done they enabled Ripple for us residents again so the super big jump for Ripple not so much for Bitcoin Bitcoin rose with everybody else around to 33 I think or 32 5 32.5 but not it has kind of slump down again so actually the market is in a really weird kind of space right now but this Hockey puck this Hockey puck from Ripple is good kasi I'll also talk a little bit about shorting so basically what I want to talk about today was the decision why Ripple shot up and just how my own trading has been going because yung I am I do trade in the crypto space I just recently started getting back from it after crypto winter kasi sobrang bag sak talgay in prices it was hard to get motivated to look at crypto but you know the space has been heating up again so I've been trying to I've been taking it interested in it and my problem is I trade and I've been doing pretty well with my trades in the green naman ako I only have one trade so far na in the negative tapos sobrang late lang nulos ko dun like 3 US sensor something like super small but my big problem since coming back is that I also short and what's a short basically you're betting that the value of the currency will go down so how you do it is that let's say you have let's say fiyap currency muna tayo let's say $1 is currently at 55 pesos so for every dollar you get 55 pesos now let's say I want to short the peso meaning that I think the peso will drop in the short term so what I do is I borrow somebody's peso I borrow and you can do that through the exchanges also I borrow somebody's crypto at 55 sorry I borrow somebody's peso at 55 pesos sorry I'm trying to think how this how this works out kasi may panang exchange trade pe say sorry let's not just for a super simple example let's not do it anymore with the one USD I just want to short the peso and I am short so the current price is 55 pesos I short it at 55 I borrow somebody's um but you do need the exchange trade fine I borrow somebody's peso at 55 pesos sorry okay sorry okay here's again let's use we have to use an exchange trade it's a dollar one dollar is worth 55 pesos I borrow somebody's dollar when it's at 55 55 pesos yes that's right then the peso drops let's say the ah shoot yes no that's not right I am super confused now trying to explain short thing but then parang it's not a hirap naman exchange trade fine bold sigay wait lang ito nalang let's make it like super simple so let's say this headset is worth 30 pesos I think this val the value of the headset I believe will drop so headset at 30 pesos nasa akin atong headset na to then the value of the headset drops to 25 pesos I now I still have this ah I I owe somebody a headset so I buy a headset at 25 pesos and I give it back to him I've now made 5 pesos kasi in price price difference is 5 pesos initially 30 siya I borrowed it at 30 bumabasha yes bumabasha and now it only costs me 25 pesos to repay something which was initially 30 pesos so you make a 5 pesos spread so yun essentially in shorts sorry I am much better example before and it just confuses me when the exchange rates when when you get exchange rates involved but that's essentially what it is so when you're shorting something you're predicting that it will drop in the near and then when you need to repay back when you need to give back what you borrowed mas mura na siya so there's a price difference involved and you make money on that price difference so my problem is before I was kind of good at shorting like I would kind of be able to predict well anong bababa but like ito yung this is my chart so far for my short sorry that's that's my trading that's all green this is my actual chart for for my for my ano so far and you notice like it's all red like pretty much all red and it's like it's hard to read on screen but it's like $9 loss $3 loss those are kind of big in relation to the to the amounts that I put them in so I've tried like a whole bunch of things like I tried to start Solana OMG atom and I was I was shorting some crypto when the decision came out so na ipit ako doon oh crap everybody's going up then I had to close my position at a loss meaning I borrowed that crypto at a price I had to sell it I had to borrow money I had to buy it at a higher price so yung niya lost talaga yun so my problem so far since getting back into the game has been my shorts game has been terrible and I have I can't have to admit that I can't it's kind of like gambling I mean it's really high risk yung problema kasi sa shorts it's not just if you're trading the only way you can really lose is if you sell it at a loss but there's no carrying cost you're not carry you're not you're not spending any money to to hold that crypto once nabili mo na yung crypto na yun you have that crypto with shorts kasi yung yan nang utang ka so when you borrow so there's a cost when you borrow and there's a cost every four hours based on how much you borrow to the exchange so in 24 hours you get charged six times and so there's a there's a there's an hour leave at four hours basically I just peg it on a daily for my computation that's why there's a daily cost there that's how much I'm charged daily for keeping open that position for keeping open you can see it here on screen there's a starting cost ending cost and then a daily cost also you some all of that up and then you somehow have to make money at the end of it all so but I I was okay with shorts before it's just like yung yan like I don't know I haven't gotten I haven't gotten the rhythm back and so all of my shorts have been most like 75% of my shorts have been terrible terrible shorts das na ipit ako the price suddenly jumps up and like oh my God I made another mistake but yung I mentioned gambling before it's kind of like gambling it's very high risk but it's higher turn but at the same time kasi usually you think you can only make money when the market goes up so you buy low then you need to wait for the market to go up but what if the market is up na ayaw mo na bumili kasi ayaw mo maipit don't bakit bakit ka bibili nung mataas kintay ka pa na kailangan umakit pa ulit yun bago mo ma-benta yun before you can make a profit but if you're if you think the market is high already you can make money by betting it will go down and that's really the for me that's the that's my problem with shorts I always think na bababa talaga to because that's a general sentiment so there's been a lot of upbeat positive news in the crypto space but a lot of the sentiment is still trending towards at least one major correction which we talk about after another ad break So a ka na ba sa unactivated windows mo? 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So web developer ako and content creator for a YouTube channel and ngayon ganun pa rin ako pero activated na yung windows ko Kaya ako naghanap ka ng legit mura at original software Check out cdkeyoffer.com Check out cdkeyoffer.com Check out cdkeyoffer.com So a lot of the experts are saying na feeling nila may isa pang big correction Bitcoin down to 25 it's already at 30 plus K now 25, something like that I also think that is true I think masyadon to mas yung prices in such a short span of time usually bumabagsak yan given these kind of market situations Also an interesting indicator I've seen is na this is not me somebody else suggested it online I kind of agree with it Hindi tumataas yung crypto kumataas yung Nasdaq The Nasdaq is one of the stock exchanges in the states where a lot of the tech stocks are listed Usually daw if you track the performance of the Nasdaq versus the performance of crypto tumataas lang yung crypto kapag medyo stagnant or pababa yung Nasdaq The theory being that since the Nasdaq is not doing so well investors are looking for riskier more potentially high risk yielding assets which crypto is like that di ba high risk, high return So I don't think we're quite there yet So there's been a lot of hype na oh, parang crypto's back and you know mayinit na ulit yung market I do agree that a correction is soonish but yung na that's my problem I keep shorting and I keep losing on the shorts So there's not investment advice don't take my word for it I'm just thinking out loud my own personal thoughts on why I think na babagsak yung crypto in the near future but yung na you can still make money on that there and then here are my trades So my trades look pretty green So my the three things I do at crypto is I try to short when the market is high I buy and sell a short term So this is my short term sheet and then there are crypto that I like to hold when I think na may long term potential tong crypto na to I buy it and then yung I forget about it for like six months or something because I think na may long term potential to So this is just my short term list of gains and stuff and if you notice most of it is pretty good So I've pixeled out how much I've actually spent on the currencies but you can see the currencies I bought and sold XTC, Stazos, Algos, Algorithm LTC, Litecoin, US, XLM Atom malangang Bitcoin or Ethereum dito because those are the big the two big crypto talaga Ethereum and Bitcoin the price changes they are not that big So if you want to kind of like yung na more high risk but high return the altcoins are the way to go So green I made a profit I won't give you the exact numbers but you can see here the interest the how much percent I gained So my best was Algos So it's a 5.6 return in five days So I bought it July 9 here July 9 I sold it July 14 and their turn was 5.6 9% So 5.6 9% after five days is pretty darn good Litecoin 3% after one day bought it July 10 So the July 11 that's 3% 3% right there tried again with LTC Litecoin two days only 0.39% return Atom 1.4% return These guys I'm still in the I'm still lost parin ako dito also bat basic attention token OXT I think I can sell these at a slight profit na but I'm still waiting for them to go up higher Secret a little bit at a loss pa but I'm not too concerned GMT is the first time I bought this coin I just saw na parang bonkers yung performance So I was like Yes, here let's try a little and ADA Minyo malaki pa atalos ko dito sa ADA So these are the coins na that I am slated like if they make a decent profit bentan na yung kagad because I do need working capital but yung nga on my sheet like the trades itself I'm not doing that bad 5.1 with a 5.6 the rest if you can do like a 1.5% return after 2 days that's really good already kasi yung nga makano ba yung average savings account interest rate mo 1.2% per annum TD 3% 5% depending where you get it if you can do 1.5% after 2 days and you just keep doing that for the rest of the year sold na solve ka na I mean that is a that's a great return on your money so the trades are not doing so bad but yung nga the shorts the shorts man are just shorts are killing me and actually bitcoin is below 30K right now the market is in a weird place usually all the coins track bitcoin so kung tumas yung bitcoin tatas din sila in vice versa but there's been a lot of changes oh makers up 14% yeah so there's there's been and rep looks like it gained a lot but actually rep gained a lot like 60-70% din at ato pero kasi pabagsak siya nang pabagsak so I was kinda hesitant to buy into it but yeah the market is in a weird place right now bitcoin is actually it's bitcoin is down but the old coins are doing okay so it's kinda yung nga panang you're not quite sure where yeah but that's what makes crypto trading fun and again this is not investment advice of any fashion but I don't have to keep reminding myself that you don't need to jump on every currency that yung yung ano usually ko it's like oh sabar na tumasa ito siguro babagsak to I mean I have to keep telling myself na relax relax you're not you don't need to jump on every currency that glows red hot and then you know jump on the short train I got burned with bitcoin cash BCH litecoin is supposed to have a halving by August basically the amount of reward to miners gets halved instead of 50 litecoin or something now you only get 25 but if you look and a lot of people think that oh tatas yung value of lite of the currency that's being halved bitcoin also goes through periodic halvings it's built into the system for lite but for litecoin if you look at the history usually actually the price decreases after the halving so you might want to take that into consideration if you're thinking of investing in litecoin and yeah so that was about it for oh sorry guys I didn't akala ko why is chat not showing yeah sorry the chat's not showing so akala ko wala nang nag chat but hello Iverson sub lariboon carry on paul read like oh sa pesto francis chok skradle yes their paper gains in the sense that I made so I trade on kraken so that's a US exchange so my primary I'm liquid in dollars when I sell a crypto and I buy a crypto I use dollars so they are dollars there and yes but yes they're basically useless to me on a practical level until I can somehow get them here or withdraw them if I go to the states if I had a means of doing so so it's true that the money is locked with the exchange but they're not paper gains it's a paper gain if you're holding a crypto the value went up and it's a paper gain because you haven't realized the increase the appreciation value and you can have a paper loss but this one these are realized gains because I changed them I sold them for fiat so I realized the gain but if you mean it in the more general sense that they're kind of useless to me because they're in dollars in a US exchange yes that's true I would still need them somewhere else why is my chat not working like why can't you see wait I'm gonna try something I guess the chat window is broken why here no that kind of sucks one of the highlights of using the services that the chat appears here sorry guys actually I didn't have my chat bar on so akala ko walang nag chat kasi walang lumalabas dito eh to be honest I was kind of sad about that usually we do have a very lively chat oh I'm gonna highlight so I can still highlight nilang lumalabas yung yung message threads thank you for being a hardware sugar customer I like crypto over stocks because their cycle is shorter the boom bust cycle sobrang tata sila sobrang babagsak with stocks kasi they take they usually take a longer time to recover and also I feel I'm more knowledgeable than specific stocks I don't have I don't follow the local stock exchange I don't follow the Dow Jones or the S&P or the NASDAQ but certain coins you get a feel for the numbers parang you're watching just even just watching the prices go ah ito matas na ito for this crypto or Ethereum might lose value because they're currently going through a transition phase whatever the technical stuff behind it so two reasons one I like I like the roller coaster of crypto I like it that the recovery times are usually shorter although yung anakaka atake sa puso when the price drops like a rock but it makes me feel at least na if I put it in crypto and I make a mistake mistake in the sense na nalugya ko paper loss palang din yun e and I can wait for the price to go up and then sell and also yung anakaka I think I'm more knowledgeable about crypto rather than stocks like I wouldn't I wouldn't know which companies to invest in like the Philippine Stock Exchange you got the blue chips like PLDT hate PLDT actually their service stinks so I wouldn't invest in them just on a personal level that's yun parang personal reasons get involved pa but yeah you have the blue chips I don't know how much though I wouldn't be able to get a 5% return like again going back to my trade with Algo I wouldn't be able to make a 5% return in 5 days with any stocks that I know of and so that's why I'm in crypto alright so that's basically the news I wanted to tackle for this episode sabliya magnaye you see chat's not appearing here for some reason I hope re-stream fixes this but anyway yeah so thanks for joining me for another episode of crypto watch if you are trading I hope you buy low sell high watch out for those shorts just other people who are interested in the channel we do have more content tomorrow I'm gonna be live from the shop so that's another live stream and then on Sunday we have a video I can't remember if it's a tera master nas or it is a price watch episode for this month but yeah we have a real schedule going on this weekend stretching over to next week so have a good weekend guys I'm actually gonna go offline now and look at stocks like if I I mean sorry crypto if there's anything here that I wanna jump into because I haven't been able to actually to check the market today yun so have a good evening have a good weekend stay safe and um our podcast also dropped this morning if you are interested in why Elon Musk wants to fight Mark Zuckerberg see you guys


Here in Denmark we have a very active network with six active working groups and one of the ones I find very inspiring is the one about artificial intelligence. So we know that in the coming year we'll see this digitalization of the entire water sector where we'll see a lot of new technologies coming into our field such as artificial intelligence, virtual reality and this entire big data trend. And that's really interesting and our working group is working on all sorts of fronts within these fields so they're working within the very technological aspect but they're actually also looking into the ethical part of it and also what sort of competences we need for the future and that really overlaps with our other working group that looks into the workforce of tomorrow and so it's for example being able to work interdisciplinary working with people from other fields besides your own making sure that you're able to communicate very complex technical messages is something that we've learned to be very very important also in the water sector. One of the other working groups that we have the Urban Lab group that's hosted Urban Labs in Denmark for the past two years bringing together international young water professionals from various fields from various countries to work on a very specific problem and what we realized doing it is that we can't do it alone so we really depend on international expertise on gaining knowledge and experiences from all around the world so what we really try to do is invite other chapters in to exchange knowledge in each of these working areas that we cover and what we really want to do is also meet with all of you and one perfect opportunity for that would be during the World Water Congress and exhibition in Copenhagen in 2020.


Hi everyone, couple of months ago we started doing D&D content here on the channel. It's been going pretty good. We got lots of new cool shows like Guest Quest and Altered Egos and there's rules for that. And we've had a lot of fun making them and they've been doing pretty well. It seems like a lot of you guys have enjoyed watching them and that's super cool. We're now two months in and we are really excited to do more. But right now we're all hiding from the plague. So because of that we can't actually get together and film all of the shows because they're like whole studio setups now where we have to have a bunch of people in one room. Instead we're going to be doing kind of just whatever the hell we want for like three months. We're still putting stuff up and it's going to be a bunch of stuff that we've filmed but has just kind of been in storage for a while because there wasn't a good time to put it up. We have like some old sketches that Ricky and Ian made and some Black Pants film school episodes that I made that didn't get put up yet and we still have some leftover D&D stuff like another Altered Egos is already shot and there's a Guest Quest left that we'll be putting up. I'm going to do some sketches here with Allison in the house just kind of by myself. Ricky and Ian are going to be making more rules shows still so that should still be coming out. And in the meantime I'm working on the guards themselves and writing the new one. I'm re-editing the old one and with all the time that I have the remastered one may come out way earlier than I expected actually because I can't work on anything else and I already have that on my computer so I'm just going to keep working on that until it's done. But yeah I just wanted to give you guys a quick update because our whole schedule and everything is going to stop. Can we help you with something? I want to give a really big thank you to everybody who is currently donating on Patreon. It means a lot to us under normal circumstances. It means even more now because we all know that everyone's getting hit financially by this. People are having to stay home from work and just things are changing. Circumstances are changing and for a company that relies on the generous donations of others that's pretty scary for us because we don't know what's going to happen and we can't reasonably ask anyone to keep donating if they're having trouble making their own end meet. But a lot of you are still donating or still have your pledges active on Patreon and I just want to say thank you for anything that you are able to continue donating. It's a great help. We really appreciate it. There's no pressure to support us obviously. Take care of yourself first but to everybody who is still an active member on patreon.com slash dormonster we really appreciate it and it's going to help keep us going and keep making things for you guys during these next like three months or however long this ends up lasting. If you would like some additional entertainment because you're stuck at home and super bored I have three suggestions for you. One is our own Twitch channel. If you go to twitch.tv slash dormonster.tv we're streaming there a lot. You can also go check out a new YouTube channel called Panic Banana. It is one that Allison made all by herself. She does vlogs in her hypochondria. That's particularly relevant right now because of everything that's going on and it's more behind the scenes looks at just us here so if you're interested you can go check that out. Drop her a supportive comment, maybe subscribe if you want to see more. Also I posted about this on a few of our social media platforms but my old art teacher Joe Fiaco is somebody that I took art lessons from him when I was really young and he eventually gave me my first job teaching animation at his studio.  He does one-on-one lessons with students and he's had to shut his studio down because of the whole outbreak. So he has also started doing YouTube videos. He has at least one paint along Bob Ross style kind of like how to paint a Texas landscape video up on his channel. I'll link to that in the description. Thank you everybody who went and commented and watched his video. He was super excited about it the next day. So if you're interested in that you can go support him as well. He's got really calming videos and maybe you can even paint along and give yourself something extra to do one day. But that's pretty much it. I just wanted to check in and let you guys know that we're doing fine and that we're adapting and that we're going to still be releasing some fun stuff. Thanks for watching. We'll see you guys next week and every week after that. Stay safe and have a good day. Bye.


I turn now to Jean-Claude Mayer, Vice-Chairman International of Rothschild, previous Géran de Lazare, very well known of course by all of us, no? Thank you very much. At the last WPC, my view on the financial markets was optimistic. My forecast was for a transitory inflation like Sergei Quey and like everybody as a matter of fact and for a plateau on the stock markets. Of course I was completely wrong on the transitory inflation like everybody, like every central bankers by the way, excuse me, sorry Jean-Claude for your colleagues. But I was right on the stock market because the Dow Jones last November was at 36,000 in last November it was at 34,000 so the things went relatively well in this forecast. Of course after COVID nobody could anticipate a war in Ukraine leading to increased inflation and a stock inflation in which we are now embarked. Today we face a very dark situation which is tackled by central banks with great difficulty but leading hopefully to better days. Very dark situation, you all know everything about it, GDP increase is low, next year will be 1% in the US maybe, 0.5% in the Eurozone, inflation is very high, 8% in the US due mainly to labour market and supply bottlenecks and with a co-inflation of 6.3% in the Eurozone of 10.6% because of energy and food with a co-inflation only of 4.3% due to consumer demand huge liquidities after COVID provided by central banks and supply bottlenecks. The war in Ukraine has accelerated further this inflation. China is a problem with a very low growth, it's amusing that China does create a problem to worldwide capitalism as a matter of fact it's very ironic for Mr Mao, the US labour market is running very hot with 3.7% only interest rates will increase next year which will reduce growth and create relativity and this crisis is global. For certain banks the fine tuning is extremely difficult. As we know stock markets depend on inflation, interest rates, economic growth, profits of companies and today inflation is high, recession fears are mounting and therefore financial markets are very volatile. Central bankers live in a tragic dilemma because their measures have adverse collateral effects such as medicines for doctors and therefore fine tuning is difficult for them. Their key question is how much can they increase interest rates to reduce inflation and at the same time avoid a recession. They have faced with this tragic paradox every good news on growth and jobs are in fact bad news because they maintain inflation and on the contrary bad news on growth and unemployment are excellent because they anticipate reduction of inflation, lower interest rates and then possibly a market boom. Today central bankers seem to shift towards a slower tightening to avoid a recession especially as it takes a year to measure the results of the rise of interest rates. Stock markets are therefore a little better oriented since a month. Other central bankers believe that if there is a chance of tightening monetary policy too much the risks of doing so are not as serious as letting inflation prosper. Haukish central bankers would do whatever it takes to curb inflation against dovish bankers in favor of a pivot as we all know. This December 14th Fed will increase once more its interest rates after four increases already with 0.75%. Will it be a 0.75% increase or just a 0.50% increase? Same question for ECB the day after, a 0.50% increase by Fed is not unlikely and it is my hope, my bet especially because annual consumer price growth in the US has slowed a little bit lower than the 8% forecast down to 7.7% which should ease pressure on the Fed. This moderate increase would give an optimistic signal to the markets. But because of a bigger inflation pressure in the eurozone and of a delay taken by ECB vis-à-vis the Fed, ECB the day after could raise its rates to 0.75%. In spite of the fact that in the eurozone inflation is mainly due to a short supply and that the rise of interest rate will not solve the situation. A 0.75% increase by the Fed or the ECB will affect the economic growth and the stock markets. This year will be volatile, difficult, unpleasant, a tough year to quote just the chairman of Puba Dala a few minutes ago. Because growth will decline with a recession in some countries until the summer, stock markets will remain unstudied, bumpy, interest rates should increase at a slower pace in parallel with a lower but sticky inflation going down and energy prices, shipping rates and raw materials falling thanks to a lower growth. This growth contraction should also raise the unemployment up to 5.5% in the US maybe which will have a positive effect against inflation. But we can have a more rosy scenario in 2024. Once the job is done to quote Jay Powell, anticipations for 2024 should improve with a certain growth including in China, lower inflation and lower interest rates in brief a soft landing which is a dream maybe provided there is no more COVID that the war in Ukraine does not deteriorate that there is no war in Taiwan of course. In this framework we can be a little more optimistic for the end of next year with a recovery in 2024. I will join Mr. Akinori Hori optimistic views now. I believe the US stock markets will then behave better than the European stocks thanks to the strength of the dollar and the lack of problems which Europe has to face. The European zone being more fragile than the US and more affected by the Ukrainian war and by inflation due to the price of energy of food and the high demand stimulated by European budgetary policies. To conclude we feel badly in the short term, better in the medium term and contrary to the projections of gains not dead in the long term maybe a dream. Thank you very very much indeed Jean-Claude.


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Good evening and welcome to episode 339 of the Private Property Podcast. I'm your host, Uzaman Dunwan, Kumailo. It's the Monday edition of the Private Property Podcast. If you're joining us for the first time, welcome to the family. You are tuned into the only daily property talk show in South Africa, helping you make better property decisions.  And all our regular viewers on Facebook and Instagram as well as on YouTube, welcome back. You know how we do it. Every single weekday you and I have an appointment at 7 p.m. We're always in conversation with a property expert who helps us tackle all things relating to property. And of course, there are also a host of great shows that you can tune into across Private Property's social media pages every single weekday at 8 p.m. As it is a Monday, we're going to be kick-starting it with the Home Shoppers Show with Chad at 8 o'clock this evening. And of course, that also comes to your screens every single Friday, where he takes us through incredible properties that you can find on www.privateproperty.co.za. So if you ever want to get a taste of some of what you're missing out on, especially some of the more high-end properties, that certainly gives us a lot of inspiration. And of course, one of those things that makes you work a little bit harder, so you can afford some of those properties. And every Tuesdays and Thursdays, a award-winning farmer in Balinuoggo brings you the farming podcast, tackling all things agriculture. So if you still have, if you have a keen interest in agriculture from how our food is made down to even how we can use tech in agri-business, then that is a show that you want to tune into. And for a weekly dose of inspiration from people who've walked that first-time home-buying journey and have gone on to grow their property portfolios from strength to strength, Estie Klaassen brings you the first-time home buyers show every single Wednesdays also at 8 p.m. Those, of course, are the great shows that you can look forward to every single weekdays at 8 p.m. Do, of course, remember to continue engaging with us on social media on our Facebook page, Instagram, also Twitter and Instagram and LinkedIn. And of course, we're also on the TikTok. You can follow myself at Zaman Dunwar underscore on Instagram as well as on Twitter, always talking or things relating to property. Now, talking about our social media pages, as you'd know on our Facebook page, and I'm already seeing some of the great love that we are getting with many people present and watching from some of the Top Fan gang members, Cindy Stemment is watching, Michelle Beaumara saying your Top Fan is in the house, Pam. We also see you, Liseja Chawna, saying that that's my sweet spot. The majority of my portfolio are from various auction houses. And that's exactly what we're going to be talking about this evening. So I'm keen to hear from you, Liseja, some of your experience as you navigate auctions, do you share with us some of your tips and tricks? I know not everybody understands auctions. And that's precisely what we're going to be dealing with this evening. But of course, before we get to our conversation, as you know, we're running a great competition on our Facebook page where we're giving away 500 grand cash every single evening. This was of course for our 1 million followers campaign that we've extended because we also wanted to get 10,000 comments on the pinned post. And now we're setting the bold ambition of having 20,000 comments. And all you have to do to set a chance of walking away with the cash prize is to comment on that particular post. And should we call your name? And while of course you're watching the private property podcast with myself, you have to be watching us live to claim your prize. I think the money is sitting at, let me see what my colleague is going to bring up, I think it's sitting at 1,500 grand in the money bag if I remember correctly. And you know, later on we'll see who gets to walk away with the money in the money bag. So if you know you've entered, make sure that you stay tuned so that you can walk away with that 1,500 grand this evening. Well, this evening's conversation as this is already pointed to is about auctions. We're going to be looking at the auction markets and how they offer buyers and sellers a simple transaction process. Tell us, get a bit of sense of where the auction market is currently in South Africa, some of the best practices that we're seeing within the auction market. And of course how you at home can better navigate auctions and auction houses. This evening I'm joined by John Jack who's the CEO of Galetti Incorporate. John, good evening and thank you so much for joining us. Thank you. No, so John, I think a really great starting point would be the state of auctioning or the auction market in South Africa right now. One of the things that I certainly picked up and I was saying to you briefly off air is that when I look at the different auction houses that I'm subscribed to, I'm seeing more and more stock going on the market via the auction routes, which wasn't something I used to see of normal houses and townhouses more often than not. They didn't have that much stock in that department. What would you say have been some of the trends that we've seen and essentially just the state of the auction market as we have it at the moment? Well, it's quite interesting. I mean, it's always auction was sort of dominated at one stage by auction alliance. They were very much the biggest and when auction alliance shut its doors, it actually spawned a number of different auction houses. Some of the guys went to all cores, some of the guys sort of roll auctions, then you have high streets and you know, so there were several different auction houses. There was Savile Road at one stage, Fort Cam High Street and you had a number of different of these businesses starting and some were more successful than others. And it's kind of been dominated in that space by single freestanding auction houses. And I'd say well, pretty much in the last two years, probably sort of the COVID kind of era, there's been a lot of move to online auction. So which has made it far more, it's lowered the sort of barrier to entry for it for anyone else to join the industry. And so you've seen a lot of new auction houses spawned. And a lot of that moves on to sort of simulcast or online bidding. So you'll either have an online bidding app where you'll have a simulcast app where you basically tune into the auction and you actually listen to the auctioneer live, people phone in, they go in via the app, via the website or they could be actually on site, you know, they could actually be bidding live. And I think what's happened is you used to have these huge auctions, huge ballroom auction, the live auctioneer, all the rest of it. I think that's got a bit smaller where people are, you know, now bidding from, you know, from their own offices or home or whatever. And so that's probably the biggest move I've seen. And you know, when we talk about the online auctions, John, and I actually wanted to chat a little bit about that because I attended my first auction a couple of months ago. And I think the experience alone was, you think you've experienced an auction by virtue of, you know, watching a few clips, or perhaps you've been watching a few movies, it's a completely different ballgame once you're actually attending one, especially when you have a vested interest in the property. I mean, I went and in some ways it was probably a bit of a rookie mistake, you know, attending your first auction and wanting that property. As opposed to, you know, first kind of attending and getting a sense of how an auction would typically work. And then of course, as you're saying, COVID comes in and we're seeing more and more online auctions. When we look at some, when we look at online auctions, perhaps just take our views through some of what we should be looking out for, because I think we know they're not going anywhere. I think a lot of the auction houses have quite liked the ability to host auctions online. And sometimes it's a combination of both on-site and online. What are some of the key things that we need to be aware of or certainly be careful about when we're attending online auctions? You know, I think, and you mentioned it now as a buyer, it can be quite daunting to go and attend an auction. You don't know, you know, it happens very quickly. There's a lot of pressure in the room, other buyers are there, you know, you feel, you know, you can either get carried away or you can get sucked out by it. You don't bid. So I think a big thing to do is like, is to get educated. And I think that's a big role that we want to play in our is to try and actually educate people as to the auction space a little bit more. You know, I think there's a lot of, a lot happening there that you don't actually understand. My partner in this business is seasoned auctioneer.  He was an auctioneer. And so he understands exactly what the auctioneer is saying, you know, when they, when they start consulting the seller, when it's confirmed or it's sold subject to, subject to confirmation, all of those things mean something to the, to the more seasoned buyer. But if you're sitting there, you think the price is going up, the auctioneer starts running ahead on a price. So you just bid again. You don't know whether it has been bid. It isn't, you know, you're not quite sure whether you should be, you want to lose the property. And that's, I suppose, half of the magic of an auction, but at the same time, half of the problem with an auction, it should be, in my opinion, more transparent and the buyers should be more educated. So you want to try and aim to educate the buyers as much as possible. And that's precisely what we do here on the Private Property Podcast. Every single evening where we simply do want to make sure that viewers at home get a bit of sense of what they're getting themselves into. Not just when it comes to auctions, but of course, various issues in our property journey. Because more often than not, we tend to not know what we don't know. And by the time you're in the thick of things and, you know, signing stuff, you may not understand. It's one of those things that we often like highlighting that do not sign something that you don't understand, whether it's an offer to purchase, or even at an auction. I mean, when you look at the terms and conditions from an auction house, there's so many things that you can easily miss and potentially not understand. So getting a really good grasp of, you know, things before signing on the dotted line becomes so important. And of course, that's exactly what we're talking about this evening, auction market and how they offer buyers and sellers a simple transaction process. I'm speaking to John Jack, who's the CEO at Galetti Incorporate. I want us to take a quick break to see who the potential winner of that 1,500 grand is that is in the money bag. And when we come back, we'll be looking at why both buyers and sellers would potentially go the auction route. I know that many of us are used to the very standard way of a property being sold or bought. And often people tend to think that auctions are only for the sheriff's auction, so for real possessed properties. But as you've picked up already that isn't the case, there are different types of auctions. So we'll be looking at the benefits for both buyers and sellers for going the auction route. Let's see who this evening's lucky winner is. Be live summer. And that lucky winner is Rehabilitui Odette Mashishi. That is Rehabilitui Odette Mashishi, potentially walking away with that 1,500 grand. And I do hope she's watching. I mean, it's quite a bit of money. I think that's a great way to start off your Monday. So Rehabilitui Odette Mashishi, if you are watching, do drop us a text down here below. And that 1,500 grand is all yours. As you can see, a number of my guests that I've had before, and many of you who are regular viewers know that we've had John Jack before. We used to have that quick break in between and we have the interview before the interview. You know, the interview within the interview during the show. I think a lot of my guests still think that when we announce the lucky winner, we have enough time for our mini interview within the interview. But they always come to learn that we don't quite have enough time. And that's because you at home want all the action. You don't want us to have our own little alone time in between the show. And I think we're probably going to just get right back into it this evening. And we're going to see if we're going to have the prize money being claimed there by Rehabilitui Odette Mashishi. Going on to our Facebook page, I see some of the love. So many of you at home watching. We see that I think one of the prudence, Mona, saying she's watching Adel's. Everton is also watching Farhan Siddiqui, one of our top fan gang members is also watching this evening. And I see saying that yes, they would. And that's with reference to whether they'd buy a property on auction. I want to find out from your home if you've ever bought a property on auction. And if you have, share with us what your experience was. What are some of the things that you learned and picked up along the way when you were buying your property on auction that you'd like to share with the rest of us? Now, John, I think when we then look at the auction market and it offering buyers and sellers a simpler process, perhaps it's going to our viewers what we mean by a simpler process. Maybe I should take you back one step. So what actually happens? What are you doing when you're buying a property on auction? So first of all, what you'll do is you'll actually register to bid. So you need to go and register for the auction. And when you register to bid, there are a lot of T's and C's that you need to take, that you need to take account of. The first is if you're the final bidder and you're knocked down on that final bid, that means that effectively you've bought the property. What happens next is you pay 10% of the 10% auctioneer's fee, which goes up front as paid as the deposit. And then from there, a normal transfer process takes place. So it gets paid to condensing attorneys. So it's not paid through an app. It's not paid online. And that's often a question. Is my money safe for contacting online? It's not transacted online. It's not a payment portal that is paid to transferring attorneys. So when you bid, you might bid a million rand for the property. You need to take into account that you'll pay 100,000 rand on top of that million rand as the auctioneer's fee that gets paid to the condensing attorneys. And after that, you then sign into agreed paperwork, which is the deed of sale. And so it goes through a normal transfer process. So you're registered to bid up front. The auctioneer will generally ask for depending on the size of auction anywhere between five and 30,000 rand deposit. 30,000 rand is for these larger commercial auctions. Typically the selling price of the property is north of 10 million rand. And 5,000 rand for sort of smaller auctions where either the lot size is smaller, smaller properties or whatever else it might be. So you're registered to a bid, go through the T's and C's. Make sure you understand the T's and C's because you are binding yourself to a contract at that point if you're the final bidder. Then what happens is the auctioneer opens for bids. So that property actually now opens for bid, the auction goes live and they ask for an opening bid. That opening bid might be, let's call it 2 million rand for the property. And they want to try and ultimately achieve the best price. And so then it becomes competitive. So maybe there's not an opening bid for 2 million rand. The auctioneer will say, well, let's start this auction at 1.5 million. And so he calls for 1.5 million and someone bids at 1.5 million. He confirms he'd like to take it to 1.6 million, confirming the increments as he goes up. So the increments are either smaller if it's a smaller property. So increments of 50,000 upwards or larger if it's a larger property. So 50 million rand property would probably go up an increments of 1 million rand. And so that just speeds the auction up to its ultimate pricing level. So they might call from 1.5 to 1.6 and as 1.6 to 1.650, 1.7, 1.750. And so the different bidders bid and raise their paddles either online, they just click bid or they'd actually be live. They'd say, I'm bidding on the phone. So I bid to this price. And the auctioneer keeps it moving around. So he tries to achieve the best bid. Where I think there's been a lot of sort of gray areas, is the auctioneer bidding against me? Am I just bidding against myself? So I bid for 1.5 million. And the auctioneer says 1.6 million. Or we bid at 1.6 million. Yes, I have a bid at 1.6 billion. Back to you at 1.7 million. So you bid at 1.7 million. But there was no, there was no one else that you were bidding against. And so there was a lot of issues around that type of thing in auction. Now, what you need to understand is that an auctioneer can continue to bid to the reserve price of the property. So the seller will give you a reserve price and the auctioneer can continue to bid and move the room up to the reserve price, because ultimately he needs to continue moving the pricing level up. Because if it doesn't meet the reserve price, the property is not going to sell. So let's say it gets knocked down at 1.9 million. The reserve price is 2 million. And then there's no sale. It will be sold subject to confirmation of the seller. And then you'll go back to the seller and say, look, our best price is 1.9 million. And then you'll try and negotiate out the final terms. And so that's actually what's happening in an auction room. There's a lot of, and they'll be taking advice from the seller, we're taking advice from the seller, we're waiting for confirmation from the seller. That's actually asking the seller to reduce their reserve price. And so you need to be aware of these things in auction. The nice thing about bidding online is that it's very transparent. You actually know where it's been bid. So you can say, the bid is now at 1.9 million. The bid is now at 1.95 million. And you could actually set a maximum bid. So you say, right, I'll bid to 2.1 million. That's what I'm prepared to pay for the property. And it will go up in the minimum increments. So if the increments are set at 50 million, if it's bid at 1.75, you'll immediately bid at 1.8. And if it gets bid at 1.85, you'll immediately bid at 1.9. And so it keeps going up in increments to get to your maximum bid, as it were. So that's just a little bit of the process of what happens. Then it gets knocked down to you. Ultimately, you go to paperwork, and then it goes to the conveyance and transfers. That's the auction process in a nutshell. So I hope I've made it clear for everyone. But it's quite nice to see it online, because it actually helps stop the noise. It gets very noisy in the auction room, and a lot of tension. And so it's actually an easier first bite, as it were. And it can be quite intimidating, I think, when you're in an auction room. John, one of the things that you mentioned that I want us to chat about is around the terms and conditions and making sure that you understand the terms and conditions as a buyer of the auction house. A lot of the auction houses even put them up, obviously, on their website. The auctioneer will typically go through them before the auction starts. And they'll even go through the OTP and some of the key things that you should be aware of. What would you say are some of the terms and conditions that people typically miss or don't quite understand? Especially, of course, those who are less seasoned, who sometimes end up bidding and being the highest and successful bidder, but didn't, unfortunately, understand or miss some of these terms and conditions. Yeah. I think maybe you need to understand is that a big thing, possibly for first time bidders, is that what you bid, let's say a million rand, you will need to pay 10% deposit above, over and above that. So when you bid at one million rand, you're actually paying 1.1 million rand for that property. So there's a 10% deposit on top of what you just finally bid at. So that's just very important to understand because you don't want to get to a level you have 1 million rand for this property. Fantastic. And then you've got to pay 1.1. That additional 100,000 rand is payable immediately after the auction. And so you need to have that ready. And then also you'll go to, you'll get, you'll get a contract to the actual final sale contract, you'll go to that immediately after the auction as well. So the auctioneer will then contact you and you'll go through that paperwork. But you, at the time that the hammer falls and you're the final bidder, you are in contract, you've agreed to those terms and contracts already. So you're legally bound. And so those are, that seems scary, but you're also legally bound when you sign an agreement to sale. The difference with an auction is that there's unsuspensive. So it moves unsuspend... You can choose to finance that property afterwards, but it becomes unsuspensive immediately. It's not subject to finance. Finance will be approved. So you need to kind of move quickly. So generally you can find good deals on an auction, but you need to be able to move quickly. So it's not, you know, you're not always, it's not always first-time buyers in the room, especially if it's an in-demand property. But any questions and comments this evening as we look at the auction market and how it offers bars and sellers a simple transaction process of in conversation with John Jack, who's the CEO at the Leti corporate. We've got a comment here coming through from Farana Siddiqui saying I went on an auction that I got a listing from my local sheriff's office. So just being in the audience, I realized that the price is almost $50,000 to $60,000 to $80,000 rather cheaper than the actual property price. It was a good experience. And I think if anything, that speaks to also just the importance of first attending a few auctions before you actually looking to buy something because you're also able to get a sense of, you know, how an auction ran. And you John was saying earlier that the atmosphere in the room, you know, you could easily get taken away from it. And I think when you're not used to it, it could also easily be very intimidating. And so I absolutely do recommend first just attending a few auctions, especially if you're looking to, you know, build a property portfolio by buying properties on auction. I've got a great question here coming through from Kataakwa Ahabbe saying what is the experience or qualifications and licenses that are required to be a property auctioneer? Yeah. So to be an auctioneer at all falls under the State Agents Affairs Board. So you'd need a registered Fidelity Fund Certificates from the State Agents Affairs Board. Typically, the company that you might work for needs a Fidelity Fund Certificate themselves. And then Fidelity Fund Certificates are issued to the agents. So you either have internal State Agents or full status State Agents or principal State Agents. So I would be the principal of this business. That requires an NQF5 qualification. Full status agent is an NQF4 real estate property practitioner is what it is. And, you know, you have sort of two years to go from intern to full status. And recently, the EAB have actually come in and said, you know, because there are a lot of people just hovering in the intern space. So they never go and write their exam. They don't complete their logbook, all of these things. So they've said, right, after two years, you'll be deregistered. And that's that.  So you must do it or you're out. So it's actually quite a big move from them, but probably quite a good one because it actually forces everyone to actually go and get their full status accreditation and protects the consumer at the same time. Now, John, earlier on in our conversation, I was saying how the reality of the property market in general, not just specifically to the auction market is that we're seeing quite a lot of stock in the market. You know, going in literally on a daily basis, there are certain areas where you're seeing quite a number of properties going for sale. And what would you say are some of the reasons a seller would or should opt for the auction route, especially those who potentially never sold the property? I think many people who buy a property, we do so much work learning about the buying process and everything that it involves that there's very little that we put in when it comes to then selling when we're ready to sell. And it may be because you're looking to upgrade or perhaps downscale your life, but we very rarely spend as much time when it comes to the sell side of our property transactions. So for the sellers at home who are looking to put their property on the market, what are some of the benefits for them for going the auction route instead of the conventional route? It's actually a lovely model. So our business in its entirety has two different sides to it. So there's a corporate advisory side, which deals a lot in leasing. So we deal with larger corporates on restructuring their portfolios, leasing, et cetera, et cetera. And the other side is sales. Now, in that sales side, we have a private treaty, which is the normal one-to-one that would be your normal any agency, to put it in the residential context, the PAM Gold and CFS, et cetera. That's a private treaty where it's held for sale, there's interest, and you negotiate our terms with the final party. And there's no, there's no horse trading. I don't say, well, I've received an offer from someone else at 1.1. So if you come in at 1.2, then you can't do that. That's all regulated. On the auction side, it's quite rapid. So it's fast. You know when the next auction is, the auctioneer's drum up as much interest as possible. So they advertise widely, and they call in a lot of people because of the way that they advertise. So it could be the next door neighbor, it could be people in the area that suddenly pick up the properties for sale, and so they attend the auction, and it has a good deadlining mechanism. The auction is on the 20th of September. That's it. You've got your chance to bid. If you're not that keen, then you can see if it sells on the auction, and then if it doesn't, you can transact afterwards. If you're very keen, you can try and bid pre-auction. So a lot of the time what happens is people say, listen, we will pay this amount, and if it suits the seller, they'll say, you know what, let's actually not go to auction. We'll just sell by private treaty before the auction. That happens quite a lot. And then at the auction, it's very transparent. So you know where the pricing level is set. But the critical thing is, is to have your bidders at the auction, because if you don't have your bidders, or they're not attending, or they're not engaging, then you can get no one bidding. And then it looks like, oh, well, there's no interest in the property, and so the property doesn't ever move up toward its value. So then you can land upwards like a property that is tainted in that respect. So auction is excellent when the property is in huge demand. That's always a great one for auction. There's a natural market for it. It's definitely going to sell. That allows a very clear and transparent and fast pricing mechanism. It's also great in an area, for example, where you have no idea where the demand is going to come from. So a random area doesn't have any dominant agency or brokerage in that area. You advertise extensively. People see the auction and so then they start getting in contact. And so we want to register for this property, and they know that it's a certain date, so they have to perform. So it pulls people out of the woodwork. And then the only other mechanism that there is is, or that I know of certainly is that a sealed bid process. A sealed bid is like a quiet auction. So it says, right, you 10 bidders are going to bid, but you're going to give us a sealed envelope with your price. And what happens is then everyone gives you a price and you'll say, well, you two buyers are very close. We'd like you to run a due diligence. So for a more technical or a larger property, this is good because usually a due diligence is required. You run a month-long due diligence. And at the end, you ask for the best and final binding offer. So prior to that, it's a non-binding. It's just an indication of interest. And at the end, after the due diligence, you ask for a final binding, best and final terms. And then they bid and then you select whoever the best bid is. And then that deal goes to Legals and is closed out. So it's like, it's the best of the private treaty and the auction world. We run all three of those. We really thought that auction was an additional mode to market for our buyers and sellers. So it's new for us. But the online space is massive. Some of the businesses in the UK boast 1.9 million registered bidders. So that's significant. I think at the moment, and I've quoted this before, I think maybe only 5% of transactions happen in an online mechanism in South Africa. But I think that's going to go up looking at the sort of global trend. Yeah. I actually hadn't heard of the seal bid process yet. So I've certainly learned something. I think it's an interesting way to bid, particularly the bigger properties as you've highlighted. It's long-term leases. Because those are the kinds where you know that the leases are there. You also want to make sure that you properly vet perhaps part of the tenants that are there and tenants. So you probably even want to go through the nature of their lease agreements and see if you're happy with them. So I think that that's also a big learning moment for me. Another great space for that is a sort of sale and lease back from a listed occupier. So a listed manufacturer listed because when they go to market and they're going to sell in assets and it's a major asset, they actually have to issue a sense announcement. And then that has all sorts of different ramifications on their stock price and all the rest of it. So what they actually want to do is get to a point where it's a guaranteed deal. So prior to like announcing to the market, we're selling all these properties, you invite say 10 to 20 bidders, they all bid and then you get to a point where it's the guaranteed deal and then you release the sense amount announcement as opposed to like throwing a cat amongst the pigeons in the market. Well, why are they selling their assets? What price will they sell them for? There's too much subjectivity in there. People are open to their own opinions and as a result, they either buy and sell or sell the stock of the company based on what they think is going to happen. Why is this company selling all of its assets? So you get a better opportunity to just explain it calmly once there is a guaranteed deal. Yeah. John, before I let you go, any final tips for our viewers at home when it comes to the auction market, whether they're looking to buy properties on auction or looking to list their properties on auction? Despite downloading the Galetti Auction app, I would say follow everyone in auction. You want to follow all the main auctioneers, download their apps, register to bid, be in the game. You've got to be in it. You can't sit there on the sidelines. Go to auctions, understand what's there, understand what's bid, and understand that market around it because you don't want to overpay, obviously. So get some knowledge of the market. Ask the questions pre-auction. All these companies are there to answer your questions. They're there to get a successful transaction for the seller and so they're happy to answer your questions, share information, anything you want to know. Just phone and ask. Don't feel like an auction is something that you rock up to on the day and bid cold. That doesn't happen. The season guys know all about the property that they're bidding on. They've phoned us. They've asked questions. We've had to send them packs of information. They've got to the property. They've put in a lot of effort prior to the auction so that when they're bid, they know exactly where they're going. So just don't rock up cold and start throwing money around. I think that's bad. And if anything, John, I think that's actually such a great note to leave it at. Do your research as much as possible when you are looking to buy a property in auction and even when you're looking to sell because I think you also as a seller want to have a good understanding of where you're going to first even price your property. Of course, the team will help you out, but you also want to be clear on what the right price and sweet spot is. And if you can see that there's a downward trend in some of the properties in your area or in the complex, you need to be aware of it in case you get offers that aren't quite what you were expecting. Well, John, we're going to leave it there this evening. It's always such a pleasure to have you on the show. Thank you so much for joining us. Cheers. And that is John Jack, who's the CEO at Galeti Corporate, wrapping up the Monday edition of the Private Property Podcast with myself, Ozamantouma Kumaalou. Unfortunately, we did not have Rebezu Odette Mashishi claiming that 1,500 rands. So we are going to have a roll over to tomorrow evening. It's going to be sitting at 2,000 rands. That's going to be the money in the money bag. Remember, if you know that you have entered the competition, you want to be watching us live so that you can claim your price. Well, I'm off. I'll be back on your screens tomorrow evening at 7 p.m. The Home Shoppers Show with Chad is coming to your screens at 8 p.m. Until then, hope you're staying home and staying safe.