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Conditions of Sale

CONDITIONS OF SALE FOR ONLINE AUCTION

THIS AUCTION PLATFORM USES STAGGERED CLOSING WITH A 30 SECOND INTERVAL BETWEEN LOTS.IF A BID IS MADE WITHIN 10 MINUTES OF CLOSE OF THE AUCTION THEN THAT LOT WILL EXTEND FOR 10 MINUTES AND CONTINUE UNTIL NO BIDS ARE RECEIVED WITHIN A 10 MINUTE PERIOD.THE LOT WILL THEN CLOSE.

TECHNICAL ISSUES: ASSET AUCTIONS CANNOT BE HELD RESPONSIBLE FOR A MISSED BID IN THE EVENT OF A TECHNICAL ISSUE RELATED TO THE SERVER, SOFTWARE, INTERNET OR ANY OTHER ONLINE AUCTION-RELATED PLATFORMS.

THE AUCTIONEER IS GRAHAM RENFREW

ASSET AUCTIONS (PTY) LTD

82 GRANIET ROAD

VALLEY SETTELMENTS

MEYERTON

MIDVAAL

TELEPHONE NUMBER +27114524191

THE SALE SHALL BE SUBJECT TO THE CONTROL OF THE AUCTIONEER WHO SHALL HAVE THE SOLE RIGHT TO REGULATE THE ADVANCE IN BIDDING. WE ARE SELLING PER RISING BID IN SOUTH AFRICAN RAND.

A REFUNDABLE REGISTRATION DEPOSIT IS PAYABLE BY WAY OF ELECTRONIC FUNDS TRANSFER.

ALL DEPOSITS ARE PAYABLE IN THE FOLLOWING ACCOUNT

ASSET AUCTIONS PTY LTD

NEDBANK EDENVALE

ACCOUNT NUMBER: 100 138 3109

BRANCH CODE: 198765

REFERENCE: NAME & BUYER NUMBER

ALL BUYERS NEED TO ACCEPT THE CONDITION AND RULES OF AUCTION AND PROVIDE A COPY OF THEIR ID, PROOF OF RESIDENCE FOR FICA PURPOSES.

THE AUCTIONEER SHALL AT ANY TIME HAVE THE RIGHT TO STOP THE AUCTION OR WITHDRAW ANY LOTS WITHOUT PROVIDING A REASON.

THE HIGHEST ACCEPTED BIDDER TO BE THE PURCHASER.

SHOULD ANY DISPUTE ARISE BETWEEN TWO OR MORE BIDDERS, THEN THE AUCTIONEER MAY DECLARE THE PURCHASER. THE DECISION TO THIS EFFECT TO BE FINAL.

SHOULD THE AUCTIONEER COMMIT ANY ERROR IN CONDUCTING THE SALE, SUCH MISTAKE SHALL NOT BE CONSIDERED BINDING UPON THE SELLER OR THE PURCHASER BUT SHALL BE RECTIFIED.

THE ADVANCE IN THE BIDDING TO BE REGULATED BY THE AUCTIONEER WHO ALSO RESERVES THE RIGHT OF REFUSING ANY BIDDING.

EACH AND EVERY LOT SHALL AT THE FALL OF THE HAMMER, BE CONSIDERED AS DELIVERED AND NO LOT CAN BE REMOVED UNTIL PAID FOR WITHOUT THE SANCTION OF THE AUCTIONEERS.

NO CLAIMS WILL BE CONSIDERED BY THE SELLER OR AUCTIONEER, WITH REGARD TO INCORRECT DESCRIPTIONS, QUALITY, OR CONDITION OF LOTS. PROSPECTIVE BUYERS ARE THEREFORE ADVISED TO INSPECT ALL GOODS, OR HAVE THEM INSPECTED BEFORE MAKING AN OFFER.

VIEWING BY ARRANGEMENT WITH AUCTIONEER.

GOOD ARE SOLD “VOETSTOOTS”.

THE AUCTIONEERS’ VENDU ROLL IS FINAL.

THE AUCTIONEERS ACT MERELY AS AGENTS AND NO LAWSUITS OR CLAIMS WHATSOEVER CAN BE MADE AGAINST THEM.

THE TERMS ARE EFT OR CASH DEPOSITS IN ACCOUNT (CASH DEPOSIT FEE OF 2% MUST BE ADDED TO THE DEPOSIT)

R1500 PLUS VAT DOCUMENT FEE TO BE ADDED TO ALL VEHICLES.

ALL BIDS ARE EXCLUSIVE OF VAT.

THIS AUCTION COMPLIES WITH SECTION 45 OF THE CONSUMER PROTECTION ACT (CPA), NO. 68 OF 2008 AND THE REGULATIONS CONTAINED THEREIN APPLICABLE TO AUCTIONS.

ALL ITEMS TO BE REMOVED AS PER ADVERTISED AUCTION RULES.