WH Rules of Auction
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These Rules comply with Section 45 of the Consumer Protection Act, Act 68 of 2008 and the Regulations as amended from time to time
The Auction Floor: The auction floor contains the items to be sold on the auction day(s). Auctions take place in a working environment where people, goods, and vehicles are constantly moving and therefore, there are associated risks. Please pay attention to the environment and be aware of possible safety and security risks. People attending the auction must familiarise themselves with the environment, as Buyers enter at their own risk. WH Auctioneers (Pty) Ltd (hereafter referred to as WH) is not responsible for any losses or damages to either persons or possessions whilst on our premises.
Registration, Deposits, and ‘Know Your Customer’: Buyers may not participate in the auction unless they have completed a registration card and supplied the necessary information to the Auctioneers. For private individuals, proof of identification in the form of a passport or ID book as well as original or certified proof of address in terms of a utilities account or lease agreement that is less than three months old is required. Foreign nationals are also required to supply this information. If an individual attends an auction to bid on behalf of another person, such person shall provide a letter of authority expressly authorising the said person to bid on behalf of that person and both the person wishing to bid as well as the person on whose behalf they would be bidding, is required to provide proof of identification as well as proof of residency in terms of a utility account or lease agreement that this less than 3 months old, in compliance with the FICA Act (Financial Intelligence Centre Act, of 2001). Companies registering will require certified copies of their CM1 or CK1, CM46, or CM9 forms, and the front page of their Memorandum of Articles. Original or certified proof of address which may be either a utilities account or lease agreement is also required. Company nominees are required to have a letter of authorisation signed by the Directors stating that they are authorised to bid on behalf of the company. The nominee will be required to produce proof of identification in the form of a passport or ID document. No lot purchased will be dispatched without the above information having been provided by the buyer concerned. A registration deposit, the amount which will be stipulated in the advertisements, on the web site, and on prominently displayed signs at the auction premises will be required by all Buyers to allow them to obtain a bidding card. Should you be unsuccessful at the auction, your deposit will be returned to you within 2 working days of the auction or, if bank details are not supplied to the Auctioneers, two days from the date after which the Buyer supplies us with the necessary bank details to allow us to do a transfer. Should a successful buyer default on payment of their invoice, WH is entitled to forfeit part or all of the deposit paid by the buyer to participate in the auction. WH is not responsible should there be a delay in clearance time before a refunded deposit is reflected in the Buyer’s account. There is no charge to register on a WH auction and unsuccessful bids will incur no fees.
Inspection, Bidding, Condition of Goods and Warranties: The auctioneer shall announce himself at the start of the auction. In respect of any lots, the highest accepted bidder shall be the Buyer of any such lots. In the event of a dispute as to the identity of the highest bidder, WH may re-auction the lots concerned, declare the successful Buyer, or remove the item from auction. The auction shall commence at the published time and will under no circumstances be delayed to allow a specific person or persons to take part in the auction. The auctioneer shall during the auction announce the reason for the auction unless it is the normal and voluntary disposal of goods by an owner. The details of the Auctioneer conducting the auction will be available on the WH web site prior to the auction as well as on the catalogues. WH reserve the right to nominate another Auctioneer to conduct all or part of the auction without giving notice or reason thereto other than a general announcement by the Auctioneer. The Auctioneer shall have the right to regulate the bidding and control the auction. Each lot sold at the auction may comprise a single lot or a group containing various items. When goods are put up for auction in lots, each lot is, unless there is evidence to the contrary regarded to be the subject of a separate transaction. The bidder’s record of any auction held shall be made available during normal office hours to any and all who request to inspect same free of charge. WH shall be entitled with the written permission of its principle (the seller) to withdraw any items / lots to be sold from the auction without prior notice and without giving reason thereto. Should there be any special conditions pertaining to the auction this will be made available by notices fixed to a prominent place at the auction venue or shall be announced prior to the commencement of the auction by the Auctioneer. Should there be any special conditions for a specific lot or number of lots, the Auctioneer will announce this prior to the sale of the lot(s) or alternatively by a notice affixed to the lot(s). The Buyer shall be bound by all of these additional terms and conditions. On the fall of the hammer at the auction for the lots purchased by the Buyer, a sale for the lots shall be finally and irrevocably concluded; subject only to any suspensive conditions that may be applicable to any lots. Your bid is final and binding on each and every item purchased. Buyers may not cancel or change any lots. Where an expert condition report of the lots is available, it will be appended to the lots. In the absence of such report WH is only aware of the lots being in the condition and state in which the lots are seen by the Buyer and WH does not have any other knowledge of the lots and the state and condition thereof. Accordingly, the lots are sold in the condition and state that they are in (as-is) and the Buyer purchases the lots in accordance therewith. WH shall not be liable for condition or state of any of the lots of which WH is unaware. Do not allow any other person to utilise your bid card. You will be responsible for any purchases on your bid card that other individuals have made. The Auctioneer will stipulate times in which the lots offered for sale can be viewed in the advertisements, notices on the auction site, and on the company’s web site. It is the responsibility of the Buyer to view all lots they intend to bid on before participating in the auction. Neither the Seller of the lots, nor WH, give any warranties or guarantees or make any representations in regard to the condition or state of any of the lots, save for when applicable, the representation that appears on the condition report for the lots concerned. The Buyer acknowledges that he/she/it has inspected the lots before bidding, noted the condition and state thereof, and is satisfied with the lots as well as the description thereof. WH makes every effort to accurately catalogue items to the best of our knowledge; however we are not responsible for any bona fide errors in the catalogue. Unless otherwise stated by the Auctioneer or contained in a sign affixed to the asset, all assets are sold with a reserve (minimum) price. The Auctioneer and/or Seller and/or owner has the right to bid on such item up until the reserve price is met. It is expressly noted that neither the Auctioneer nor the Seller or owner may bid on any item that is stipulated without reserve or ‘at best’.
Payment and Delivery: The Auctioneer has a trust account into which all monies received in regard to any auction will be paid for the benefit of the seller minus the agreed commission and any agreed costs. All bids made at the auction are deemed to exclude VAT, buyer’s premiums, paperwork processing fees, and cash deposit fees unless otherwise stipulated. Payment is only accepted via an electronic funds transfer (EFT) or direct deposit into our nominated bank account(s). Such banking details will be given to Buyers by the auction staff when requested. No cash is accepted on site, however, should you wish to make a direct deposit into our account, a cash processing fee will be applicable. WH do not sell subject to finance. Clients requiring finance will have to provide a letter from the bank providing irrevocable proof of such finance. Alternatively, a 10% deposit must be paid at the end of the auction. Bank releases must be supplied to the Auctioneer within 2 working days of the auction. No receipts will be issued or goods delivered until the payment is reflected in WH’ bank account. Deposit slips and proof of payment are not accepted as proof that payment has been effected into WH’ bank account. Information regarding the buyer’s premium, paperwork processing fees and cash deposit fees will be made available by notices fixed to a prominent place at the auction venue or shall be announced prior to the commencement of the auction by the Auctioneer. Risk in and to the lots shall pass to the Buyer on the fall of the hammer and it is therefore imperative that the Buyer insure all purchases immediately once knocked down to them. The Buyer shall only be entitled to take delivery of the lots once payment of the full purchase price of all lots purchased by the Buyer has been made to WH and the Buyer is in possession of an invoice from WH stating that the Buyer has paid in full. The Buyer understands & accepts that his bid amount is exclusive of VAT, fees and a buyers premium which is 10% – if bidding live at the auction or 12% – if bidding online (subject to change). The Buyer agrees that all amounts including payment for goods, buyer’s premium, documentation fees and any other stipulated fees shall be paid to WH immediately after the fall of the hammer even though the lots have not been or may not be delivered to the Buyer. Delivery of the lots shall be deemed to have been made to the Buyer upon delivery to the Buyer of the paid invoice. Should a successful buyer default on payment of their invoice, WH is entitled to forfeit part or all of the deposit paid by the buyer to participate in the auction. The Buyer agrees that purchases will not be physically delivered and that the Buyer shall be responsible for all of the costs of delivery. The Buyer shall not be entitled to cancel the sale as a result of timeous non-delivery of the lots or on non-signature of the required documents. WH shall be entitled, without penalty, to cancel the sale should the required documents of or relating to the lots not be signed and delivered to WH within 21 days of the date of the auction; the Buyer must look to the Seller for any damages that the Buyer may have suffered due to such non-delivery or non-signature.
Removal, Storage and Risk: The Buyer shall remove the lots from the auction site within the period announced by the Auctioneer at the relevant auction. Such dispatch period will be announced by the Auctioneer prior to the auction, or prior to the auction of a specific lot, and affixed in notices posted in prominent areas of the auction venue or announced before a lot with specific conditions. The Auctioneers will not remove or load the purchases into a Buyers’ vehicle and it is therefore the Buyers’ responsibility to supply the necessary personnel and loading equipment to effect removal. The Auctioneers will not be responsible for any damages caused during removal or releasing of equipment. It will be the buyers’ responsibility to make right any damages to property even if the buyer has nominated to use a third party company to remove the assets. Dispatch is completed on a first come, first serve basis. In addition to this, should dispatch not be able to be effected during dispatch hours, it will be the responsibility of the Buyer to return to complete dispatch during working hours. It is the responsibility of the Buyer to make certain that they comply with any health, safety or procedural requirements of the Auctioneer, . After the fall of the hammer, the Buyer shall bear the risk in and to the lots even if the lots continue to remain at WH’ premises, in particular for any shortages or damage which may occur. The Buyer shall be liable to pay storage fees to WH if the lots remain on WH’ premises. Should WH need to remove an asset from an auction venue due to an inability to store at the venue for any reason whatsoever; WH will nominate a service provider to undertake the removal. The actual invoice cost for any such removal plus a 20% (twenty per cent) handling fee will be for the account of the Buyer. No lots having been removed will be released until the full invoice price of such removal cost has been settled to WH. No goods purchased may be removed during the auction. The storage fees will be payable on any and all lots not picked up during the specific removal period. These storage fees will be available in written notice affixed in a prominent place at the venue of the auction, alternatively will be otherwise notified to the Buyer by an announcement by the Auctioneer before proceeding with the auction, or in the case of a lot or number of lots, before proceeding to sell them. In the event of the Buyer failing to pay the full purchase price of the lots as per the conditions stipulated on the day of the auction on or before the applicable time, failing to remove the lots and/or otherwise failing to comply with any of these conditions, then any amounts paid, including the registration deposit, shall be irrevocably forfeited and the matter dealt with as follows: 1. WH as the Auctioneer shall be entitled to charge or receive commission not exceeding 17% of the purchase price or the total cost of advertising and conducting an auction together with any reasonably incurred costs with regard to the auction whichever is the lesser. 2. The balance of the amounts paid by the Buyer shall be paid over to the Seller and shall be deemed to be a genuine pre-estimated claim of the damages that the Seller may suffer. WH shall have a lien (a right to keep possession of the property) over the lots for any amounts due and payable by the Buyer to WH. The Seller shall be entitled to re-sell or re-auction such lots with no reserve without notice to the Buyer in order to assist in recouping any monies owed in terms of this lien. Should WH re-sell/re-auction such lots and should the net proceeds thereof (after deducting commission, fees, costs and buyer’s premium payable to WH) be less than the sale price, then the Buyer shall immediately upon demand pay to WH as pre-estimated, liquidated, damages, such difference, less any amounts forfeited. WH shall not be liable to the Buyer for any losses or damages suffered by the Buyer as a result of the termination of the sale by the Seller of the lots to the Buyer, or of any failure to deliver the lots attributable to the Seller. Save for the announcements and signage referred to above, no variations or amendments hereto shall be of any force and effect unless reduced to writing and signed by the Buyer and WH. No indulgence which the Seller and/or WH may grant to the Buyer shall prejudice, or constitute a waiver of, the rights of the Seller and WH, who shall not there be precluded from exercising any rights against the Buyer which may have arisen in the past or may arise in the future.
Special Conditions for Motor Vehicles and Items Requiring Legal Paperwork: The Buyer confirms and acknowledges that when he viewed the motor vehicles concerned, and has independently confirmed all of the particulars relating to the motor vehicle. In a notice affixed to the vehicle the Auctioneers will provide the following information: The name and business address of the Auctioneer, a notice that there is no liability or duty on the auction house or Seller to repair, the motor vehicle’s year of manufacture (where known), year of first registration, manufacturer, model designation, registration number, engine number, VIN number, and the odometer reading. Odometer readings are not guaranteed. In the case of motor vehicles or other items having legal documents that document a year model, the description used by the Auctioneer will be the year model as per the legal documentation as supplied by the NATIS system. The Auctioneer has no knowledge of year of manufacture or manufacturers year designation. In the case of motor vehicles or other items requiring the completion and delivery of documents by the Seller or any third party, WH shall not be obliged to deliver such lots to the Buyer until the relevant documentation, duly completed and signed, has been delivered to WH and cannot guarantee this period. The Buyer agrees to comply with any requirements to register and roadworthy the vehicle and to undertake any repairs necessary to effect such requirements.
General Legal and Surety: The Buyer chooses as domicilium citandi et executandi (the address of delivery for all purposes arising from these terms and conditions), the physical address of the Buyer reflected on the registration form or reflected in any document signed or handed by the Buyer to WH in respect of the lots and/or the auction concerned. The Buyer consents to the jurisdiction of the Magistrate’s Court, but agrees that the Seller and/or WH shall be entitled to institute proceedings in the High Court. In the event that any legal steps are taken against the Buyer, the Buyer agrees to pay all of the legal costs (on the attorney and own client scale) of WH and/or the Seller and which is or may be actually paid to WH’/the Seller’s attorneys (by agreement or otherwise), alternatively, where there is no such agreement, on the attorney and own client scale as per the tariff of the relevant Court involved. The Buyer and surety (if applicable) hereby cede(s), assign(s), transfer(s) and make/makes over unto and in favour of WH the Buyer’s and surety’s rights, title and interest to all his/her/its immovable property registered in his/her/its name and any movable property owned by him/her/it or to which him/her/it is entitled such as is sufficient to satisfy his/her/its indebtedness to WH. The Buyer and surety (if applicable) agree(s) that all such immoveable and/or movable property shall be specially executable by, at the instance of and in the favour of WH. Any term and condition above is severable from the remaining terms and conditions, which remaining terms and conditions shall continue to apply and be effective. The Buyer is the buyer, from WH, of the lots at the auction or who has otherwise purchased the lots from WH. The buyer’s premium, payable to WH means all of the actual costs and expenses incurred by WH plus, in terms of the norms of the international auctioneering industry a percentage of the purchase price of the lots, which percentage will be available in written form, in the form of a notice affixed in a prominent place at the venue of the auction, alternatively will be otherwise notified to the Buyer. Notwithstanding, the provisions of these terms and conditions, the buyer’s premium shall be paid to WH on the date of the auction. The signatory to this agreement/these terms and conditions binds himself/herself/itself as surety and co-principal debtor together with the company, close corporation, trust, partnership, association or any other person or entity reflected on the face of the terms and conditions or set forth more fully above as the Buyer for the due fulfilment and payment by the principal debtor of all the principal debtor’s obligations and liabilities due and/or owed by the principal debtor to the Seller and/or WH arising out of the sale of any lots to the principal debtor at the auction contemplated above or otherwise sold by WH on behalf of the Seller.
© WH Auctioneers (Pty) Ltd 2013. Not to be used without prior permission.
The registrant warrants that these Rules of Auction are to the best of their knowledge compliant with the requirement set out in Regulation 21 of the Consumer Protection Act 68 of 2008.