Warehouse Insolvent Estate Online Auction

Warehouse Insolvent Estate Online Auction

Opens on 29th September 2020 at 09:00 and closes 2 October 2020 from 14:00

Staggered Closing / Lot Closing Speed - 2 lots per minute (From 14:00 + 3 min Auto-Extend)

Viewing: 29th September - 1st October from 09:00 15:00 and 2nd October from 09:00 - 12:00 by Appointment Only

Call Charlotte to arrange a booking - 082 329 8194

Venue: Unit 1, Cnr Suni Ave & Tsessebe Crescent,

Corporate Park South, Randjespark, Midrand

IMPORTANT INFORMATION:
• Only one person per booking will be allowed access to view.
• You will be required to wear a face mask during all face-to-face interactions
• No face mask will lead to no entry to the premises.
• You will need to adhere to the screening and sanitising requirements at the auction site.
• Vehicles will not be started. You will be able to view the videos on the Online Catalogue.

TO PARTICIPATE IN THIS ONLINE AUCTION, PLEASE COMPLETE THE BIDDER PARTICIPATION FORM (DOCUMENTS TAB BELOW). By signing the Bidder Participation Form, 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 on Thursday 1st October to auction@tirhani.co.za

Registration fee: R5 000.00 – Please submit ID copy, proof of address (NOT older than 3 months) together with your completed Bidder Participation Form.

VAT: 15% VAT will be added to the bid price.

Admin Fee: R2 000.00 plus VAT

Buyers Commission: 10% buyers Commission plus on the bid price.

EXTENDED BIDDING: This auction features EXTENDED BIDDING. Any lot with a bid within 3 (THREE) minutes of its scheduled closing time will remain open for bids past its normal close; it will go into extended bidding. Staggered Closing / Lot Closing Speed - 2 lots per minute (From 14:00 - 2nd October - 3 min Auto-Extend)

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 reserve 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.

PLEASE NOTE THAT CERTAIN LOTS WILL BE SOLD SUBJECT TO CONFIRMATION (STC) BY THE SELLER REGARDLESS OF THE ONLINE BID PRICE.

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.

Bidding Increments:

R1,000 (up to R40,000)

R1,500 (up to R80,000)

R2,000 (up to R100,000)

R2,500 (up to R250,000)

R5,000 (upwards)

The 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.