Guidelines

INTRODUCTION

Bid 2 Buy Auctioneers (Pty) Ltd aim to provide the auction buyer a conducive platform and environment whilst bidding for their respective products or items.

Furthermore, we wish to achieve this by providing the attendee with a supporting groundsman. The groundsman shall be a guide to understand where the current bid is being placed and where the next shall take place.

In addition to the Groundsman, Bid 2 Buy Auctioneers (Pty) Ltd shall have a registered, qualified and experienced auctioneer conducting the bidding process.

Direct Finance support onsite allows our customers to obtain vital information before placing a bid and directing potential bidders to financial institutions accordingly.

VIEWING PRIOR TO AUCTION

It is imperative that the bidder familiarises themselves with all the lots on the auction prior to making a decision.  Furthermore, terms and conditions in the catalogue, and where advertised or present are read and understood.

The auctioneer may also make announcements before the start of the auction.

With regards to fixed property, always be sure to discuss the property with the agent and obtain data provided that will give you all the necessary information to make an informative decision when bidding.

Terms and Conditions regarding associated expenses, including and not limited to deposits, taxes and commissions are understood for each auction.

Viewing dates will be advertised on the auction catalogue or by appointment.

BIDDING

  1. You can register on the day of the auction.. Bring your proof of ID and address, and pay the registration fee. This is fully refundable if you don’t bid or if you’re not the winning bid.
  2. All Bidders must be registered prior to the commencement of the auction, You will have to complete a buyer’s card. Please make sure that all details are correct, as no invoice will be amended after the auction.
  3. Make sure your bids are clearly seen, observed by the groundsman or auctioneer.
  4. Bids cannot be cancelled or retracted once made. Bidders shall be responsible for any errors.
  5. Where more than one item is presented you can only bid for one item in that respective lot.
  6. Until the auction process is complete no goods can be removed from site.
  7. Each Bidder is responsible for their own bid.
  8. Bidding prices do not include VAT, buyers premium or any paper processing fee.
  9. Please be sure to read the conditions of sale. Whether you are bidding for a fixed property or a moveable asset, there are a number of conditions under which you bid.

CHARGES

  1. There is usually a buyer’s premium that is charged. This is a percentage of the purchase price which may vary. Please check the premium at the registration office or on the front of your catalogue or advert.
  2. Unless otherwise stated, VAT is payable on the knockdown price as well as the buyer’s premium and paper fee.

PAYMENT

  • At any time during the auction, you can pay for your purchases.
  • Buyers of properties will be requested to give a deposit immediately. Payment terms will be set in the conditions of sale.
  • The registration office will give you the amount you have purchased for and then you need to pay. This can be done in any of the following ways:
  1. Electronic transfer: We have accounts with FNB, Absa and Standard bank. We will give you our banking details for the bank with which you bank. The transfer will then happen immediately.
  2. Cash: We do not accept cash on site. You will need to go to the nearest bank and pay the money plus 1% into our bank account. Once we have proof of the deposit you will get your invoice.
  3. Bank finance: We require a letter of credit or a 10% deposit to make up an invoice to the bank. Bank finance needs to be paid within 48 hours of purchase.

COLLECTION

  1. A paid invoice and receipt are required before you can collect your items.
  2. Bring your paid invoice with you and hand it to one of our staff who will assist you.
  3. Please bring your own staff to load your trucks.
  4. Our security officials will monitor the delivery of the goods.
  5. Please remember that once an item is knocked down to you it is legally there at your own risk. Make sure that you have appropriate insurance if necessary and that you effect payment and collection as soon as possible.
  6. If you need to find out more about how Bid 2 Buy Auctioneers work, don’t hesitate to contact our call centre who will be able to answer your questions or direct you to the answers you need.
  7. All vehicles should be removed within three days after the auction. Thereafter a storage fee of P350.00 (excl. VAT) per lot, per day will be charged.

THE VOESTOOTS CLAUSE

Potential property buyers must keep in mind that auction properties are sold voetstoots, or ‘as is’. This means the property is sold faults and all, and the seller has no legal obligation to rectify any faults post purchase.