ABSA CAF (Commercial Asset Finance) ONLINE AUCTION
Opens 23 November at 09:00 and closes 25 November from 14:00 (2 min Auto-Extend)
Viewing Venue (Online Only Auction): BY APPOINTMENT ONLY
Call Wisani to arrange - 081 438 6657
Location: 4 Van Dyk Road, Benoni.
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 on Wednesday 24 november to email@example.com
Registration fee: R10 000.00 – Please submit ID copy, proof of address (NOT older than 3 months) together with your completed Bidder Participation Form.
PURCHASE PRICE: The purchase price for items on offer at ABSA’s 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 10% calculated on the HIGHEST BID AMOUNT, it being specifically recorded that the purchase price excludes commission / buyer’s premium.
ADMINISTRATION / DOCUMENT FEE: The purchaser shall pay administration / document fee at the rate of R2000 INCLUSIVE OF VAT added to each lot purchased, it being specifically recorded that the purchase price excludes administration / document fee.
NOTES: 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!
Bidders are hereby given notice in terms of section 45 (4) of the CPA that Tirhani Auctioneers may bid at the online auction to protect the reserve price.
GOODS/PROPERTY DESCRIPTION - Vehicles are sold according to year of first registration on Natis document (if applicable) and not year of manufacture year. The year of manufacture is unknown to Tirhani Auctioneers or the Seller and no queries will be entertained regarding year of manufacture.
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.
Vehicles sold as non-runners would have to be collected by the buyer with a Break-Down Recovery Vehicle.
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 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 BIDDERS 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 A 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 BIDDERS 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.
NB: ALL FICA DOCUMENTS PROVIDED TO TIRHANI AUCTIONEERS MUST ALSO BE PROVIDED WHEN COLLECTING YOUR PURCHASE.
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 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 responisible 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.
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.
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.
Invoicing Queries: Robyn Brown (firstname.lastname@example.org) 079 305 3809
Bidding Queries: Bernard Decombes (email@example.com) 082 327 4578 OR Ngelekazi Matiwane (Ngelekazi@tirhani.co.za) 071 643 6442
General Queries: Stacy-Lee Campbell (firstname.lastname@example.org) 082 327 4580