LIQUIDATION ONLINE AUCTION

Viewing Invitation: 2016 Porsche 911 GT3 RS
Date: 5 September 2023
Time 10:30am - 11:30am
Venue: Milltrans, 14 Sacks Circle, Bellville, Cape Town
Maps link: https://goo.gl/maps/HCMLEUK1UtvRz6TW7

PLEASE RSPV: JAYME THOMPSON TO ARRANGE 071 660 7069

LIQUIDATION ONLINE AUCTION

N Squared Distribution Pty Ltd (In Liquidation) Master's ref: C000083/2023

Viewing: BY APPOINTMENT ONLY - CALL JAYME THOMPSON TO ARRANGE 071 660 7069

Viewing Venue (Online Only Auction): 14 Sacks Circle Industrial, Bellville, Cape Town

SCAM ALERT - TIRHANI AUCTIONEERS WILL NEVER REQUEST ANY BUYERS TO PAY A HOLDING DEPOSIT FOR A VEHICLE TO BE WITHDRAWN FROM THE AUCTION. TIRHANI AUCTIONEERS ONLY SELL VEHICLES ON A PUBLIC AUCTION AND NOT ON FACEBOOK OR ANY OTHER SOCIAL MEDIA / PLATFORMS.

TO PARTICIPATE IN THIS ONLINE AUCTION, PLEASE COMPLETE THE RULES OF AUCTION / BIDDER PARTICIPATION FORM - (DOCUMENTS TAB).

By signing the Rules of Auction, you consent and agree to be bound by the Auctioneers General and Specific Rules of Auction in addition to any other conditions specified by the Auctioneer or the Seller. These Rules of Auction are not negotiable, so if you do not agree with them do not register to bid on this auction.

Please ensure all your documentation is sent back for verification by close of business by Tuesday 5 September 2023 to auction@tirhani.co.za

Registration fee: R20 000.00 - Please submit ID copy, proof of address (NOT older than 3 months) together with your completed Rules of Auction.

PURCHASE PRICE: The purchase price for items on offer at this online movable assets auction is constituted as follows: HIGHEST BID AMOUNT: The highest bid amount announced by the auctioneer and/or the online auction system at the completion of bidding on the assets either by the fall of the hammer, or by any other customary manner is the purchase price.
VALUE ADDED TAX (VAT): The purchaser shall pay VAT over and above the HIGHEST BID AMOUNT at the rate of 15 % VAT, it being specifically recorded that the purchase price excludes VAT.
COMMISSION / BUYER’S PREMIUM: The purchaser shall pay commission / buyer’s premium at the rate of SIX PERCENT (6%) plus VAT calculated on the HIGHEST BID AMOUNT, it being specifically recorded that the purchase price excludes commission / buyer’s premium.
ADMINISTRATION FEE: The purchaser shall pay an administration fee at the rate of R2,500 PLUS VAT added to each lot purchased, it being specifically recorded that the purchase price excludes the administration fee.
This auction is 'With Reserve'. Although you may be the ‘High Bidder’ for a Lot, note that if the Reserve is not met, there is no commitment from the Seller to sell. The sellers shall be entitled to instruct the auctioneer to accept a lower bid. The Auctioneers reserve the right to refuse or accept the bid of any bidder should they be unable to satisfy any of the above notices or the Rules of Auction. Bidders are hereby given notice in terms of section 45 (4) of the CPA that Tirhani Auctioneers may bid on the online auction to protect the reserve price.

PLEASE NOTE THAT THIS LOT WILL BE SOLD SUBJECT TO CONFIRMATION (STC) - 7 DAYS BY THE SELLER REGARDLESS OF THE ONLINE BID PRICE.

Although this lot is sold Subject to Confirmation by the Seller (STC) for a 7 day period:

• The 10% deposit is payable immediately.
• The balance is payable immediately after confirmation.

Please be assured that as per Clause D (4) (4.14) of the Rules of Auction, “Should the seller reject the buyer/purchaser's offer or default for whatever reason, the purchaser will not be charged any fee or commission, and where such fee or commission has already been paid by the buyer/purchaser, such fee or commission will immediately be refunded to the purchaser, including the refundable registration deposit. The parties shall have no further obligations under the Rules of Auction thereafter.”

GOODS/PROPERTY DESCRIPTION - Vehicles are sold according to year of first registration on Natis document and not year of manufacture year. The year of manufacture is unknown to Tirhani Auctioneers and no queries will be entertained regarding year of manufacture.
 

NOTICE TO BIDDERS

1.THESE VEHICLES ARE SOLD “VOETSTOOTS”.

2.NEITHER THE SELLER NOR THE AUCTIONEER HAS ANY DUTY TO REPAIR.

3. NO VEHICLE MAY BE RETURNED AFTER THE PURCHASE IRRESPECTIVE OF THE CLAIM. THE ONLY RETURNS THAT WILL BE ENTERTAINED ARE WHERE THE YEAR LISTED IS IN FACT INCORRECT.

4. THE VEHICLE DESCRIPTION AS PROVIDED BY THE AUCTIONEER IS NOT CONCLUSIVE. IT IS THE BIDDER'S RESPONSIBILITY TO MAKE SURE THAT THE VEHICLE SPECIFICATIONS ARE CORRECT.

5. THE BIDDER MUST SET HIS/HER OWN PRICE BASED ON HIS/HER OWN ASSIGNED VALUE TO THIS VEHICLE.

6. TRADE AND RETAIL PRICES ARE DISPLAYED AS GUIDELINE ONLY!! THE SELLER ATTEMPTS TO GIVE THE CORRECT TRADE AND RETAIL VALUES BUT WILL NOT BE HELD LIABLE IF THERE IS AN ERROR.

7. ANY KNOWN FAULTS HAVE BEEN DISCLOSED; HOWEVER, IT IS THE BIDDER'S RESPONSIBILITY TO INSPECT THE VEHICLE AND ENSURE THAT THE ACTUAL CONDITION OF THE VEHICLE IS KNOWN. THE VIEWING DAY IS PROVIDED FOR THE BIDDERS TO GET ACCESS TO THE VEHICLES TO ASCERTAIN THE ACTUAL CONDITION.

8. COLLECTIONS ARE SUBJECT TO PAYMENT REFLECTING IN OUR BANK ACCOUNT.

9. Considering the provisions of clause F (5) (5.6) of the Rules of Auction herein, bidding for an asset at this online movable assets auction shall be taken as tacit proof and confirmation that the bidder has inspected the asset and is satisfied with its condition.
DO NOT BID FOR ANY ASSET ON THIS ONLINE MOVABLE ASSETS AUCTION UNLESS YOU HAVE INSPECTED IT AND YOU ARE SATISFIED WITH ITS CONDITION. IF YOU BID FOR AN ASSET AND ARE DECLARED THE HIGHEST BIDDER AND PURCHASER OF THE ASSET, PLEASE NOTE THAT NO RETURNS WILL BE ENTERTAINED THEREAFTER, IRRESPECTIVE OF THE CLAIM. THE ONLY RETURNS THAT WILL BE ENTERTAINED ARE FOR ERRONEOUS DESCRIPTIONS SUCH AS WRONG YEAR LISTING, INCORRECT MODEL, OR INCORRECT VARIANT.

RUNNER: If the vehicle is sold as runner, it does not necessarily mean that it can be driven off the auction site. Our staff may have had to jump start the vehicle, and in some cases, bridge the ignition if no key is available. In these circumstances, it is the buyer’s responsibility to then bring the necessary equipment to start the vehicle so that it can be driven away.

NON-RUNNER: Vehicles sold as non-runners would have to be collected by the buyer with a Break-Down Recovery Vehicle.

Bidding Increments: R500 (up to R10,000) - R1,000 (up to R40,000) –R1,500 (up to R80,000) - R2,000 (up to R100,000) –R2,500 (up to R250,000) – R3,500 (up to R500,000) – R5,000 (up to R1 000 000)

Control of the auction shall be entirely managed by the auctioneer, who has the sole right to regulate the bidding process and control the bid increments. The auction will be conducted per rising bid in South African Rands. 

EXTENDED BIDDING: This auction features EXTENDED BIDDING. Any lot with a bid within 2 (TWO) minutes of its scheduled closing time will remain open for bids past its normal close; it will go into extended bidding.

MAX BIDDING: When you place your maximum bid, it will be placed at the reserve price if said max bid exceeds the reserve. If the Max Bid amount is below the reserve, the bid will be placed for the full amount. The 'System' will automatically bid against you at the set increment until reserve is met, at which point the system will stop. If you are the highest bidder, the lot will be sold to you, unless another bidder out bids you.

TECHNICAL ISSUES: In the event there are technical difficulties related to the server, software, Internet or any other online auction-related technologies, Tirhani Auctioneers reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Tirhani Auctioneers shall be held responsible for a missed bid or the failure of the software to function properly for any reason.

WHAT IS AUCTION FINANCE?

Auction finance is pre-approval for the finance of an asset you wish to purchase in an auction. The finance is facilitated prior to the auction. Tirhani Auctioneers has a partnership with Auction Finance (www.auctionfinance.co.za), who offer a wide range of services. Please visit the Auction Finance website for more information or call Mathilda Fourie on 082 337 2210).

FOR MORE INFORMATION

Bernard De Combes

Bidding System Queries & Support

+27 (0) 82 327 4578

Charlotte Mutsharini

Bidding System Queries & Support

+27 (0) 82 329 8194

Elizabeth Nkhathu

Invoicing Queries

+27 (0) 82 329 8984

Stacy-Lee Campbell

Online Registration & General Queries

+27 (0) 82 327 4580