RULES OF AUCTION 

AND 

CONDITIONS OF SALE - MOVABLES

BIDDERS’ CHOICE (PTY) LIMITED

Reg:  2012/123036/07

97 CENTRAL STREET, HOUGHTON

Duly represented by: PIETER GELDENHUYS

(The “AUCTIONEER”)

1. Bidders shall register at the Auction, against payment of a refundable deposit of R10, 000.00 via EFT and will be provided with a Buyers Number.  Only registered Bidders can participate in the Bidding process.

2. Every bid shall constitute an offer to purchase for the amount bid, and no bid may be withdrawn until the Purchaser has been determined.

3. The highest Bidder accepted by the Auctioneer shall be the Purchaser. 

4. The Auctioneer is entitled to correct any bona fide error in the conduct or conclusion of any sale, or arising from any incorrect reference to the items for sale.  In the event that the error is not capable of being corrected, then the auction shall be deemed not to have taken place and no party at the Auction will have any claim against the Auctioneer or the Seller arising from the cancellation of the Auction.

5. In sales with reserve, only the Auctioneer or his agent shall be entitled to bid up to the reserve price on behalf of the Seller, but shall not be entitled to make a bid equal to or exceeding the reserve price.

6. All items are sold voetstoots.  No representatives or warranties are made by the Auctioneer or the Seller.  Neither the Auctioneer nor the Seller shall be liable in consequences of any representation made by them at or before the Auction.  In particular, no warranties are made regarding motor vehicles in respect of year, make or model thereof.

7. Risk in each item passes to the Purchaser on confirmation of acceptance of his offer.

8. The Purchaser shall remove his purchase at the conclusion of the Auction, and after full payment in terms.

9. No item shall be removed from the auction floor prior to full payment in terms.

10. Should the Purchaser fail to remove any item at the conclusion of the auction, then a storage of R 100 + VAT per item per day will be charged to the Purchaser.  Furthermore, should any items purchased not be removed after a period to be stipulated by the Auctioneer, the items will be resold by the Auctioneer at the expense of the Purchaser.  Alternatively, and by written arrangement between the Auctioneer and the Purchaser, the Auctioneer will store the items at the expense of the Purchaser.

11. The Purchaser shall be liable for the costs of repair for any damage caused by him to the Auction premises or any other item while removing his purchase, or otherwise.

12. Should any item purchased be financed by the purchaser through a financial institution, proof of approved finance must be presented to the Auctioneer on the Bidders registering in terms of clause 1 above.  No item may be purchased subject to finance approval.

13. The purchase price of each item will be paid by the Purchaser cheque immediately on conclusion of the auction.

14. Should any item purchased be financed, then full payment for the item shall be made to the Auctioneer within 72 hours of the conclusion of the auction.

15. The purchase price is exclusive of Value Added Tax (VAT) unless otherwise specified by the Auctioneer.

16. Ownership of the items shall pass to the purchaser only on payment of the full purchase price, plus VAT if applicable, and Auctioneers commission.

17. A 10% Auctioneers Commission plus VAT shall be paid by the Purchaser, in addition to the purchase price, which commission is due and payable on the fall of the hammer.

18. If any item is sold subject to confirmation, the confirmation period will be for 24 Hours from the date of Auction during which period the Purchaser shall not be entitled to withdraw his offer.

19. Any item that is subject to confirmation will be paid for in full by the highest bidder on conclusion of the auction even in the event that confirmation from the Seller has not yet been received.  Should the bid not be accepted by the Seller within the allocated period as noted, then the Auctioneer will refund to the Buyer the full amount paid to the Auctioneer for the item.

20. Removal strictly from 9am until 3pm on the 12 August 2015 items not removed within this period.

21. Removal must be arranged with Andre – 083 459 2977 /  Mark -084 5004564

22. If the Purchaser breaches any of these conditions of sale, he shall be liable to pay, in addition to any commission payable, any costs incurred by the Auctioneer as a result of the breach, including administration costs, storage costs and legal costs as between attorney and own client, including collection commission.