ABSA DURBAN REPOSSESSED VEHICLES ONLINE AUCTION
ABSA DURBAN REPOSSESSED VEHICLES ONLINE AUCTION
Opens on 21 July 2020 at 11:00 and closes 22 July 2020 from 11:00 am
Staggered Closing / Lot Closing Speed - 2 lots per minute (From 11:00 + 3 min Auto-Extend)
Viewing: Monday 20th July from 08:30 - 15:00 and Tuesday 21st July ONLY from 08:30 - 15:00 BY APPOINTMENT ONLY - 30 Minutes maximum per customer. (Due to COVID-19 Restrictions)
Call Julia to arrange a booking - 082 579 8433
Venue: 20 Hunter Street, Durban.
Please bring a form of identification with you to allow access for viewing.
IMPORTANT INFORMATION:
• Only one person per booking will be allowed access to view.
•You will be required to wear a face mask at all times.
• No face mask will lead to no entry to the premises.
• You will need to adhere to the screening and sanitising requirements at the auction site.
• No touching or entering vehicles. Vehicles will not be started. You will be able to view the photos & videos on the Online Catalogue.
TO PARTICIPATE IN THIS ONLINE AUCTION, PLEASE COMPLETE THE BIDDER PARTICIPATION FORM (DOCUMENTS TAB BELOW). By signing the Bidder Participation Form, 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 Tuesday 21st July to auction@tirhani.co.za
Registration fee: R5 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: No Commission on the bid price.
NB: ALL FICA DOCUMENTS PROVIDED TO TIRHANI AUCTIONEERS MUST ALSO BE PROVIDED TO ABSA WHEN COLLECTING YOUR VEHICLE. COLLECTIONS WILL BE STRICTLY BY APPOINTMENT ONLY, SUBJECT TO THE COVID-19 REQUIREMENTS IMPLEMENTED BY TIRHANI AUCTIONEERS AND ABSA.
NOTES: RESERVE: 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 above notices or the Rules of Auction.
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!
EXTENDED BIDDING: This auction features EXTENDED BIDDING. Any lot with a bid within 3 (THREE) minutes 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 minute (From 11:00 am 22nd July - 3 min Auto-Extend)
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.
PLEASE NOTE THAT CERTAIN LOTS WILL BE SOLD SUBJECT TO CONFIRMATION (STC) BY THE SELLER REGARDLESS OF THE ONLINE BID PRICE.
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)
R5,000 (upwards)
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.
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.
