ABSA CAF (COMMERCIAL ASSET FINANCE) & OTHER MATTERS FEBRUARY 2024

ABSA CAF (COMMERCIAL ASSET FINANCE) & OTHER MATTERS FEBRUARY 2024

Lot Closing Speed - 1 lot every 2 minutes (from 11:00 + 2 min Auto-Extend)

NOTE that lots are not located at the same physical address. Please pay attention to each lot item's location.

PLEASE NOTE : BOOKING FOR DISPATCH IS ESSENTIAL - 

Lots 11 to 19 Dispatch will only start on Monday 4th March - By Appointment Only.

Contact person for various regions:

^{Port Elizabeth: Stacy-Lee - 082 327 4580}

^{Kempton Park: Stacy-Lee - 082 327 4580}

VIEWING BY APPOINTMENT ONLY FOR ASSETS SITUATED IN PLUMBAGO - DSV Park 16 Serengeti Blvd, Glen Marais, Kempton Park. LOT 11-16 Wednesday 28th February 2024 from 10h00-14h00

VIEWING BY APPOINTMENT ONLY FOR ASSETS SITUATED AT DSV STUANDALE (OFF R75), Port Elizabeth. LOT 17-19

ABSA CAF ASSETS Viewing Venue: TIRHANI AUCTIONEERS WAREHOUSE 4 Van Dyk Road, Benoni

ABSA CAF ASSETS 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)

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 28 February 2024  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 if the asset has Vehicle Registration Papers (NATIS)

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: R500 (up to R10,000) - R1,000 (up to R40,000) –R1,500 (up to R80,000) - R2,000 (up to R100,000) –R2,500 (up to R250,000) – R3,500 (up to R500,000) – R5,000 (up to R1 000 000)

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

Channtell Vogel 

Bidding System Queries & Support

+27 (0) 71 587 6279

Robyn Brown

Invoicing Queries

+27 (0) 79 305 3809

Stacy-Lee Campbell

Online Registration & General Queries

+27 (0) 82 327 4580