FAMILIES and first-time bidders joined experienced investors at a two-day auction carnival aimed at making property auctions more approachable to the public.
Organised by Ng Chan Mau & Co Sdn Bhd (NCM) in Kuala Lumpur, “Jelajah Harta Tanah Malaysia 2026” (JHTM) paired property, vehicle and art auctions with food stalls, games, performances and exhibitions.
The property auctions used a hybrid format, allowing bidders to participate either in the auction hall or online.
NCM director Low Chee Hian, who has a background in information technology and digital marketing, said the company introduced hybrid auctions nine years ago after taking over the business.
“Auctions used to be a hidden market. Now they are public and accessible to anyone.”
He said the carnival format, introduced in 2024, was intended to expand the pool of participants beyond agents and investors traditionally associated with auctions.
“Previously, buyers were mostly agents and investors.
“Now we are seeing end buyers, including young couples and families buying for their own use,” he said.
The event attracted 300 attendees, with 819 registered bidders, 80% of whom NCM estimated to be first-timers.
Low said the format also challenged the perception that auction properties were old, neglected or in poor condition.
“When people hear ‘bank lelong’ (auction), many imagine a haunted house or a property in bad condition.
“But some properties are actually new,” he said.
A total of 1,203 lots went under the hammer over the two-day event, comprising 919 residential and commercial properties, 251 vehicles and 33 artworks.
Low said 161 properties, 154 vehicles and one artwork were sold, generating a combined RM58.7mil.
He said this was NCM’s highest total sales value for a carnival, exceeding the RM50mil recorded at an earlier event in April.
“The highest property sale was a Pavilion Residences unit in Kuala Lumpur, which attracted a RM3.7mil hammer price, up RM300,000 from its RM3.4mil reserve price,” Low said.
He said the JHTM name reflected the range of properties from around Malaysia offered through the auction in Kuala Lumpur, with online bidding allowing buyers to participate from elsewhere in the country.
The properties ranged from residential units and shoplots to commercial and industrial premises.
Vehicle listings included cars, motorcycles, trailers and prime movers, while the art auction featured works by local artists.
Low said online bidding made it easier for prospective buyers to participate in auctions involving properties in Sabah and Sarawak.
Drawing more prospective buyers could also help banks secure better prices for properties being auctioned, he said.
“We do not want a borrower’s property to be sold at an unnecessarily low price.
“The more buyers who see it, the better the chance of competitive bidding.”
Low explained that banks sought to obtain a reasonable selling price rather than merely recover the outstanding loan.
After the debt and related costs are settled, remaining proceeds go to the borrower.
Besides making auctions more accessible, Low said NCM wanted prospective buyers to understand their responsibilities before bidding.
“The Proclamation of Sale sets out the conditions attached to each property, including payment requirements and responsibility for outstanding charges.
“People sometimes talk about hidden costs, but they are not necessarily hidden.
“Buyers have to read the Proclamation of Sale and carry out due diligence.”
He said NCM’s customer service team assisted prospective buyers in checking matters such as outstanding maintenance charges, quit rent, assessment, caveats and transfer restrictions.
Low said buyers should note that properties were usually unavailable for interior viewing before bidding.
He stressed that financing should be assessed before bidding because successful bidders must settle the balance within the period stated in the Proclamation of Sale or risk forfeiting the deposit.
“We also connect prospective buyers with banks to seek approval in principle based on their income and borrowing ability,” he said.
“We do not want people bidding on impulse and later finding that they cannot complete the purchase.
“They need to understand their financing before participating in the auction,” Low reiterated.
Low posing with dancers during the launch of the two-day ‘Jelajah Harta Tanah Malaysia 2026’ auction carnival in Kuala Lumpur.
Visitors taking a closer look at property listings on display at the event.
24 Festive Drums performance during the launch of the two-day ‘Jelajah Harta Tanah Malaysia 2026’ auction carnival by Ng Chan Mau & Co.
The auction carnival paired property, vehicle and art auctions with food sales, performances, games and exhibitions.
