ABSA BOKSBURG REPOSSESSED VEHICLES ONLINE AUCTION JULY 2024
ABSA BOKSBURG REPOSSESSED VEHICLES ONLINE AUCTION JULY 2024
Auction Open | Monday 22 July 2024 @11:00 |
Auction Close | Tuesday 23 July 2024 from 11:00 Staggered Closing / Lot Closing Speed - 2 lots per 1 min from 11:00 (plus 1 min Auto-Extend) |
Payments Due By | Wednesday 24 July 2024 (COB) |
Dispatch Start Date | Wednesday 24 July 2024 (08:00-16:00) |
Dispatch Close Date | Friday 26 July 2024 (08:00-16:00) |
Viewing: Friday 19 July 2024 and Monday 22 July 2024 from 08:00 - 16:00
Viewing Venue (Online Only Auction): ABSA TRADE CENTRE - 8 Top Road, Boksburg, 13 Top Road, Boksburg & TIRHANI AUCTIONEERS - 4 Van Dyk Road, Benoni, Gauteng.
SCAM ALERT - ABSA WILL NEVER REQUEST ANY BUYERS TO PAY A HOLDING DEPOSIT FOR A VEHICLE TO BE WITHDRAWN FROM THE AUCTION. ABSA ONLY SELL REPOSSESSED VEHICLES ON A PUBLIC AUCTION AND NOT ON FACEBOOK OR ANY OTHER SOCIAL MEDIA / PLATFORMS.
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 the close of business on Monday 22 July 2024 to auction@tirhani.co.za
Registration fee: R7 000.00 - Please submit ID copy, proof of address (NOT older than 3 months) together with your completed Rules of Auction.
PURCHASE PRICE: The purchase price for items on offer at ABSA’s online movable assets auction is constituted as follows: HIGHEST BID AMOUNT: The highest bid amount announced by the auctioneer and/or the online auction system at the completion of bidding on the assets either by the fall of the hammer, or by any other customary manner is the purchase price.
VALUE ADDED TAX (VAT): The purchaser shall pay VAT over and above the HIGHEST BID AMOUNT at the rate of 15 % VAT, it being specifically recorded that the purchase price excludes VAT.
COMMISSION / BUYER’S PREMIUM: The purchaser shall pay commission / buyer’s premium at the rate of 0% calculated on the HIGHEST BID AMOUNT, it being specifically recorded that the purchase price excludes commission / buyer’s premium.
ADMINISTRATION FEE: The purchaser shall pay an administration fee at the rate of R2,500 INCLUSIVE OF VAT added to each lot purchased, it being specifically recorded that the purchase price excludes the administration fee.
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. Bidders are herby given notice in terms of section 45 (4) of CPA that Tirhani Auctioneers may bid on the online auction to protect the reserve.
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.
PLEASE NOTE THAT CERTAIN LOTS WILL BE SOLD SUBJECT TO CONFIRMATION (STC) BY THE SELLER REGARDLESS OF THE ONLINE BID PRICE.
ABSA ANNOUNCEMENTS
- Taking photos or videos of the vehicles will not be permitted.
- No ABSA employees are allowed to register and buy at the auction.
GOODS/PROPERTY DESCRIPTION: Vehicles are sold according to the year of first registration on the Natis document and not the year of manufacture year. The year of manufacture is unknown to Tirhani Auctioneers or ABSA and no queries will be entertained regarding the year of manufacture.
ALL FICA DOCUMENTS PROVIDED TO TIRHANI AUCTIONEERS MUST ALSO BE PROVIDED TO ABSA WHEN COLLECTING YOUR VEHICLE.
NOTICE TO BIDDERS
1. THESE VEHICLES ARE SOLD “VOETSTOOTS”.
2. NEITHER THE SELLER NOR THE AUCTIONEER HAS ANY DUTY TO REPAIR.
3. NO VEHICLE 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 DESCRIPTION AS PROVIDED BY THE AUCTIONEER IS NOT CONCLUSIVE. IT IS THE BIDDER'S RESPONSIBILITY TO MAKE SURE THAT THE VEHICLE SPECIFICATIONS ARE CORRECT.
5. THE BIDDER MUST SET HIS/HER PRICE BASED ON HIS/HER OWN ASSIGNED VALUE TO THIS VEHICLE.
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 AND ENSURE THAT THE ACTUAL CONDITION OF THE VEHICLE IS KNOWN. THE VIEWING DAY IS PROVIDED FOR THE BIDDERS TO GET ACCESS TO THE VEHICLES TO ASCERTAIN THE ACTUAL CONDITION.
8. SUBJECT TO THE PROVISIONS OF CLAUSE D (3) (3.7) OF THE RULES OF AUCTION THEREIN, BUYERS PARTICIPATING AT TIRHANI AUCTIONEERS' AUCTIONS BID AT THEIR OWN RISK AND ARE ADVISED TO INSPECT THE GOODS/PROPERTY ON OFFER PRIOR TO THE COMMENCEMENT OF THE AUCTION IN ACCORDANCE WITH SUB-REGULATION 28(5) OF THE CPA. DUE TO THE ORIGINS OF THE ASSETS, THE KILOMETRES REFLECTED ON THE VEHICLES CANNOT BE GUARANTEED.
9. COLLECTIONS ARE SUBJECT TO PAYMENT REFLECTING IN OUR BANK ACCOUNT.
10. CONSIDERING THE PROVISIONS OF CLAUSE F (5) (5.6) OF THE RULES OF AUCTION THEREIN, BIDDING FOR AN ASSET AT ABSA ONLINE AUCTION SHALL BE TAKEN AS TACIT PROOF AND CONFIRMATION THAT THE BIDDER HAS INSPECTED THE ASSET AND IS SATISFIED WITH ITS CONDITION.
DO NOT BID FOR ANY ASSET AT THE ABSA ONLINE AUCTION UNLESS YOU HAVE INSPECTED IT AND YOU ARE SATISFIED WITH ITS CONDITION. IF YOU BID FOR AN ASSET AND ARE DECLARED THE HIGHEST BIDDER AND PURCHASER OF THE ASSET, PLEASE NOTE THAT NO RETURNS WILL BE ENTERTAINED THEREAFTER, IRRESPECTIVE OF THE CLAIM. THE ONLY RETURNS THAT WILL BE ENTERTAINED ARE FOR ERRONEOUS DESCRIPTIONS SUCH AS WRONG YEAR LISTING, INCORRECT MODEL, OR INCORRECT VARIANT.
IF YOU ARE NOT PREPARED TO ACCEPT THESE CONDITIONS, DO NOT BID ON THIS ONLINE AUCTION.
RUNNER: If the vehicle is sold as a 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.
Bidding Increments: R500 (up to R5,000) - R1,000 (up to R10,000) - R1,500 (up to R40,000) –R2,000 (up to R80,000) - R2,500 (up to R100,000) –R3,000 (up to R250,000) – R4,000 (up to R500,000) – R5,000 (up to R1 000 000)- R 7,500 ( up to R2,000 000) - R 20 000 (up to R3,000 000)
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.
EXTENDED BIDDING: This auction features EXTENDED BIDDING. Any lot with a bid within 1 minute of its scheduled closing time will remain open for bids past its normal close; it will go into extended bidding. Staggered Closing / Lot Closing Speed - 2 lots per 1 min.
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 the 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 outbids 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.
Auction finance is pre-approval for the finance of an asset you wish to purchase in an auction. The finance is facilitated prior to the auction. Tirhani Auctioneers has a partnership with Auction Finance (www.auctionfinance.co.za), who offer a wide range of services. Please visit the Auction Finance website for more information.
FOR MORE INFORMATION
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TO PARTICIPATE IN THIS ONLINE AUCTION, PLEASE DOWNLOAD RULES OF AUCTION - BIDDER PARTICIPATION FORM. Please email back to - auction@tirhani.co.za by the cut-off date.
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.
