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Being the leading auction house in Sri Lanka, Schokham and Samerawickrema specializes in household and office furniture, motor vehicles, antiques, paintings, collectibles and machinery. As the family run business celebrates its 129th anniversary, the managing partners reflected on the legacy and future.
Counting corporates, diplomatic individuals and missions as part of its clientele, the managing directors stated that family was the most important aspect when asked what the key to the success of the business was. With the involvement of each and every family member from an early stage, the auction house has grown over the years with several facilities across the island.
With the spread of the pandemic greatly affecting businesses, the auction house has adapted by introducing a form of virtual auctions. The traditional auction system includes potential customers first inspecting the goods within an allotted time frame before placing bids on the item. However with the new health restrictions this method is no longer possible.
Prices of items have continued to shoot up due to the pandemic but the company has managed to not retrench any of its employees but as a compromise the management staff has had to accept a reduced pay.
Despite the unfavorable situation the auction house has shown its capabilities by adapting to the challenges and proper business strategy by staying operational and serves as an inspiration to all other businesses.