Government Redundant Stock Online Auction

GAUTENG PROVINCE INFRASTRUCTURE DEVELOPMENT

Opens on 29th June at 10:00 and closes on 1st July 2021 from 14:00

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

Viewing: 29 & 30 June 2021 from 09:00 to 15:00

FOR MORE INFORMATION 011 608 2280 / 082 327 4580

Venue: Various sites in Gauteng (See information in the Lot Description).

TO PARTICIPATE IN THIS ONLINE AUCTION, PLEASE DOWNLOAD RULES OF AUCTION - BIDDER PARTICIPATION FORM (DOCUMENTS TAB). Please email back to - auction@tirhani.co.za
By signing the Rules of Auction and Bidder Participation Form, you the bidder/buyer 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 Wednesday 30th June 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 Rules of Auction - Bidder Participation Form.

VAT: No VAT on the bid price.

Admin Fee: None

Buyers Commission: 5.75% plus VAT on the bid price.

Payment: EFT only. Strictly NO cash or cheques.

NOTES: RESERVE: 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.

Please note that if you are the successful bidder on more than one lot, you will be invoiced for all your successful bids. You cannot choose or select which lots you will take!

EXTENDED BIDDING: This auction features EXTENDED BIDDING & STAGGERED CLOSING. Staggered Closing / Lot Closing Speed - 2 lots per minute. 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 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.

NOTICE TO BIDDERS

NEITHER THE SELLER NOR THE AUCTIONEER HAS ANY DUTY TO REPAIR. THE LOT DESCRIPTION AS PROVIDED BY THE AUCTIONEER IS NOT CONCLUSIVE. IT IS THE BIDDERS RESPONSIBILITY TO MAKE SURE THE SPECIFICATIONS ARE CORRECT. BUYERS MUST SEE AND JUDGE FOR THEMSELVES.

IF YOU ARE NOT PREPARED TO ACCEPT THESE CONDITIONS, DO NOT BID ON THIS ONLINE AUCTION.

Bidding Increments:

R500    (up to R20,000)
R1,000 (up to R40,000)
R1,500 (up to R80,000)
R2,000 (up to R100,000)
R2,500 (up to R250,000)
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.