ABSA CAF (COMMERCIAL ASSET FINANCE) & OTHER MATTERS JULY
ABSA CAF (COMMERCIAL ASSET FINANCE) & OTHER MATTERS
Auction Open | Tuesday 25 July 2023 at 11:00 |
Auction Close | Thursday 27 July 2023 from 11:00 |
Payments Due By | Friday 28 July 2023 (COB) |
Dispatch Start Date | Friday 28 July 2023 from 09:00 to 15:00 |
Dispatch Close Date | Friday 4 August 2023 - excl. weekends |
Lot Closing Speed - 1 lot per 3 minutes (from 11:00 + 2 min Auto-Extend)
Viewing Venue (Online Only Auction): TIRHANI AUCTIONEERS WAREHOUSE 4 Van Dyk Road, Benoni
Viewing Contact Person at Tirhani Warehouse: Wisani Ndhlovu 081 438 6657
TO PARTICIPATE IN THIS ONLINE AUCTION, PLEASE COMPLETE THE RULES OF AUCTION / BIDDER PARTICIPATION FORM (DOCUMENTS TAB).
CATALOGUE WILL BE AVAILABLE ON THE 20th of JULY
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 26 July 2023 to auction@tirhani.co.za
Registration fee: R10 000.00 – Please submit ID copy, proof of address (NOT older than 3 months) together with your completed Bidder Participation Form.
VAT: 15% VAT will be added to the bid price.
Admin Fee: R2 000.00 (incl VAT) per lot will be added to the bid price.
Buyers Commission: 10% plus VAT on the bid price.
Collections are subject to payment reflected in our bank account.
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 notices or the Rules of Auction.
PLEASE NOTE THAT CERTAIN LOTS WILL BE SOLD SUBJECT TO CONFIRMATION (STC) BY THE SELLER REGARDLESS OF THE ONLINE BID PRICE.
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 on 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.
Runner
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.
Non-Runner
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 / ASSETS ARE SOLD “VOETSTOOTS”.
2. NEITHER THE SELLER NOR THE AUCTIONEER HAS ANY DUTY TO REPAIR.
3. NO VEHICLE / ASSET MAY BE RETURNED AFTER THE PURCHASE IRRESPECTIVE OF THE CLAIM. THE ONLY RETURNS THAT WILL BE ENTERTAINED ARE WHERE THE YEAR LISTED IS IN FACT INCORRECT.
4. THE VEHICLE / ASSET DESCRIPTION AS PROVIDED BY THE AUCTIONEER IS NOT CONCLUSIVE. IT IS THE BIDDER'S RESPONSIBILITY TO MAKE SURE THAT THE VEHICLE ASSET SPECIFICATIONS ARE CORRECT.
5. THE BIDDER MUST SET HIS/HER OWN PRICE BASED ON HIS/HER OWN ASSIGNED VALUE TO THIS VEHICLE / ASSET.
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 BIDDER'S RESPONSIBILITY TO INSPECT THE VEHICLE / ASSET AND ENSURE THAT THE ACTUAL CONDITION OF THE VEHICLE / ASSET IS KNOWN. THE VIEWING DAY IS PROVIDED FOR THE BIDDERS TO GET ACCESS TO THE VEHICLES / ASSETS TO ASCERTAIN THE ACTUAL CONDITION.
NB: ALL FICA DOCUMENTS PROVIDED TO TIRHANI AUCTIONEERS MUST ALSO BE PROVIDED WHEN COLLECTING YOUR PURCHASE.
ABSA ANNOUNCEMENTS
- No ABSA employees are allowed to register and buy at the auction.
- ABSA is not liable for the e-tag after payment has been made to Tirhani Auctioneers.
- The buyer undertakes to sign a document accepting responsibility for the e-tag on the vehicle.
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 responsible for a missed bid or the failure of the software to function properly for any reason.
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), R10,000 (upwards).
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.
FOR MORE INFORMATION
Bernard Decombes Bidding System Queries & Support | +27 (0) 82 327 4578 |
Charlotte Mutsharini Bidding System Queries & Support | +27 (0) 82 329 8194 |
Rhulani Mlambo Invoicing Queries | +27 (0) 82 575 1164 |
Stacy-Lee Campbell Online Registration & General Queries | +27 (0) 82 327 4580 |
To participate in this online auction, complete and submit all required documents by 4PM on the cut-off date on the Tirhani Auctioneers Buyer’s Portal.
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.
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. Tirhani Auctioneers reserve the right to extend bidding, continue the bidding, or close the bidding. 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.
