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Rules of the Auction CPA Act No 68 of 2008 CPA Regualations Privacy Policy

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FREQUENTLY ASKED QUESTIONS & ANSWERS (FAQ)

NB: to be read together with Auction Rules & also How to buy on auction.

 

1.   Who is allowed to BID

Anyone can bid after registering & has a bid card given by auctioneer’s admin staff


2.   How to access auction list

Go to www.Auction-24.co.za


3.   How to bid- registration

Before you are allowed to bid, one must register with amount stipulated on auction advert

(e.g R5000.00 or R10000 refundable amount if you don’t win a bid) & have FICA’s documents

(id book or a certified ID copy & recent proof of address,) & for business business address, ck1, tax clearance & authorization letter (also refer to Auction Rules)


4.   How to I pay for registration

All payment must be done by EFT or bank guaranteed cheque,

Our Banking details: 

Bank: STANDARD BANK

Account Name: FIVE STAR TRADING ENTERPRISE CC t/a Auction24,

Account Number 276 132 017

Branch Code:  053-147

Ref: YOUR ID NUMBER/

In case of the company, an ID number of the company proxy


5.   How to bid

The auctioneer will guide the bidding by indicating what price he is looking for. For instance, he will say: “I have R10 000. Do I see R10 200” All you do as the bidder is to raise your hand. If the price goes beyond what you are prepared to pay, stop putting up your hand.


6.   How do I  pay for item I bought

After the auction you will be given a pro forma invoice with total amount payable & banking details & payment ref  & make payment by either EFT or Bank guarantee cheque of the required amount


7.   May I pay as installment

NB: NO INSTALLMENT, NO NEGOTIATIONS, YOU PAY TOTAL AMOUNT SHOWED ON PRO FORMA INVOICE, FULL OF STORY


8.   Where can I find Auction Rules

Go to www.Auction-24.co.za & under LEGAL TAB

& Auction rules will be make available 24hours prior to the auction (on auction site),  also the auctioneer will read out the rules before the auction & bidders can ask

Questions as well,


9.   What will happen if I don’t collect my items

Items bided for & yet not collected within two days will be subject to storage fee (rate will be announce per auction ) & more days after two days items will be forfeited without any compensation & or any communication what so ever,


10. How can I remove my assets after the auction

Should you need assisted in removing your assets, please notify the Auction24 help desk which will either use their own or third parties trucks to remove your assets to your request venue (this service its payable separate from auction fees ) & this services doesn’t relate to uncollected items


11.  Where do I find Car registration document

Items bought with number plates & yet not announce as scrap, car registration documents will be given to bidder after payment & should on auction date car registration document not be available, then you can contact Ms Phumzile Masango 078 265 4677/0861 999 126


12.  What other amount must I pay on top of bid price

Auctioneers Commission Plus Vat (will be announce per auction as auctioneers commission vary per auction)

Documentation fees (applicable to cars that have registration documents, amount also vary per auction, will be announce before the auction)

Handling fee (5% plus Vat is applicable, this is discourage cash payments)


13. What will happen to my lots if I haven’t removal item /collected my lots purchased

Once full and final payment has cleared on our account, the buyer must remove their lot/s with two days starting from date of auction, should you fail to do, storage fees will be charged. All outstanding storage fees, where applicable must be paid before the lots can be removed/released & uncollected lots for more than two days, will be forfeited and or confiscated without further communication nor surrender value (no refund whatsoever)