GENERAL AUCTION CONDITIONS OF SALE AND RULES OF AUCTION
It is expressly noted that all Bidders participating in our auction agree that they have been made aware and understand the Conditions of Sale and Rules of Auction. Auctions are conducted in compliance with Section 45 of the Consumer Protection Act (CPA) No 68 of 2008 and the regulations contained therein applicable to auctions.
Registration Requirements (Also see Auction Information)
- All Bidders are required to complete our registration process in order to participate in an auction.
- A refundable registration deposit is payable, as stipulated on the specific terms for the auction. The refundable registration deposit is payable by way of electronic funds transfer only. Should you be unsuccessful at the auction, your deposit will be returned to you within 4 business days of the auction closing, provided that the deposit reflects in our account and bank details are supplied.
- All Bidders must supply us with copies of the following FICA requirements:
- If purchasing in your personal capacity, a copy of ID and recent (not older than 3 months) proof of residence;
- If purchasing in your company name a copy of the company BRNC, CIPC documentation, proxy letter and proxy ID copy.
- If purchasing where the person is not a RSA citizen, a copy of your traffic registration certificate, proof of identity and recent (not older than 3 months) proof of residence.
Auction Process & Bidding
- The auction will commence at the published time and will not be delayed to enable any person to take part in the auction.
- All goods are sold as is, in whatever condition they may be and no guarantees whatsoever are given. No claims will be considered by the seller or auctioneer with regard to incorrect descriptions, quality or condition etc. Prospective bidders are therefore advised to inspect the goods or have them inspected before an offer is made and acknowledge that they have done so by placing a bid.
- Description and information in advertisements, catalogues or given verbally are given in good faith. The auctioneer or seller does not hold itself responsible for any errors of description of quality or quantity. A bid shall be taken as proof that the bidder has acquainted him or herself with the lot for which he / she bids.
- Assets to be auctioned will be at the discretion of the auctioneer and the auctioneer reserves the right to combine or divide any lot with the permission of the seller.
- When assets are put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be the subject of a separate transaction.
- The auctioneer reserves the right to regulating the bidding, also refusing any bids and also to sell lots subject to confirmation. The auctioneer shall, at any time, have the right to stop the auction or withdraw any lots without providing reasons.
- In the event of a dispute arising about any bid, the auctioneer may use his discretion and put the lot up for auction again. The auctioneer’s decision will be regarded as final in all cases of disputes arising from the auction.
- Bidders or their representatives as well as their vehicles enter the auction facility for viewing and loading or for whatever other reason at their own risk and the auctioneer will not be held liable for any loss or damage. Bidders and their representative must adhere to the auction facility hours and no one will be permitted to enter the facility outside of these hours.
- If a bidder fails to carry out any of his / her obligations under the auction conditions of sale, the goods may be put up for auction again and the bidder shall be responsible for any loss sustained by reason of his / her default. The bidder will also forfeit his/her depsoit and be blacklisted from all future auctions.
- All individuals that visit the auction facility for any reason whatsoever must adhere to strict Covid-19 regulations and protocols, which will include by not be limited to screening, wearing a mask, sanitising and social distancing. Any individual that does not adhere to the regulations will not be allowed to enter the auction facility.
- Should there be any special conditions pertaining to the auction this will be made available by notices on the advertising of the specific auction or lots.
- Where lots that are sold Subject to Confirmation (STC) the highest bid will be subject to the acceptance by the seller and the bidder will be notified of the success of his / her bid within the specified confirmation period as published by the auctioneer.
- The Auctioneer accepts no responsibility for any interruption in internet connection resulting in the bidder being disconnected from the live auction, be it the bidder's or Auctioneer's internet connection interruption for any reason.
- Registered bidders participating by online auction or Webcast must be aware that the auctioneer cannot accommodate for slow or lost internet connections or the variable delay between bids placed online and reflecting on the auction system on the auction floor. Furthermore, the Auctioneer cannot guarantee uptime on the system. Should it occur that an online bid reflects after the system / auctioneer knocks-down or calls “sold” to a bidder on the auction floor, the online bid will be invalid. Webcast bidders can place pre-bids / max offers prior to auction commencing which the online auction administrator calls on behalf of the online bidder in bidding increments up to the maximum / pre-bid amount. Online bidders are encouraged to bid early and to not wait until the last second.
- Anti-sniping will be applicable on all lots on a timed auction. This will result in a lot being extended for 5 minutes, should there be any bidding on the lot within 5 minutes of it closing. This gives all bidders equal opportunity to bid, should they be outbid in the last 5 minutes.
- The bidder shall be bound by all additional terms and conditions. On the fall of the hammer a sale for the lots shall be final and irrevocably concluded; subject only to any suspensive conditions that may be applicable to any lots. Your bid is final and binding on every item purchased.
- Bids and invoices cannot be cancelled. If a bidder defaults upon the obligations contained herein the bidder shall forfeit their deposit. The bidder should not allow any other person to utilise their bid card / online bid profile. The bidder will be responsible for any bids placed on his / her bid card / online bid profile that other individuals have made. Bidders defaulting on payments will forfeit the auction registration deposit and may incur additional charges in line with the Consumer Protection Act. These bidders will also be blacklisted to take part in any future auctions.
Invoicing & Payments
- All invoicing for any successful bids will be finalised on the day of the closing of the auction.
- Information regarding the bidder’s commission, paperwork processing fees and cash deposit fees will be made available by notices on advertising material, our website, the catalogue or shall be announced prior to the commencement of the auction by the Auctioneer.
- Invoice payments are to be made within 24 hours after issuing of the invoice by way of electronic funds transfer only. An administration fee of 3% will be levied on all cash deposits made into our account.
- All assets remain the property of the seller until full payment has been received. Ownership only passes once the assets have been removed.
Removal of Assets
- The removal of assets will be the sole responsibility of the bidder and he / she will be held responsible for any damage to the auction facility or any other assets while removing his / her assets. Bidders are responsible for dismantling, rigging and/or special loading. No assistance will be available on site.
- Assets may only be removed after full payment has been received and on presentation of the applicable removal certificate.
- The auctioneer will publish a set period of time following the auction for the removal of assets. Any assets not removed by this time will be liable to a storage fee as specified per auction.
- The auctioneer’s personnel are under no obligation to load assets.
- Risk in and to the assets shall pass to the bidder on the fall of the hammer and it is therefore imperative that the bidder insure all purchases immediately once knocked down to them.