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Out Of Hand Sales

  • Agent & Principal. The auctioneer sells goods as an agent of their principals, the sellers, therefore payments received by the auctioneer are for onward transmission to the sellers. Whilst the auctioneer takes steps to establish that sellers of goods auctioned are in fact the true owners of the goods, it can occur that the auctioneer is misinformed and as a result, whilst the auctioneer acts in good faith, they sell goods only on the basis that they are not responsible for any subsequently discovered defect in title.

  • Payments. All lots are sold on a first come first serve basis and no lot will be reserved or held in anyway whatsoever for any buyer up until full payment is received by the auctioneer. Where a buyer has processed a Bank transfer or mobile money payment in respect of an out of hand purchase, proof of payment must be sent to the auctioneer immediately. Upon receipt of proof of payment in full, the auctioneer may then reserve the goods for the buyer for a maximum period of twenty four (24) hours while they wait for the funds to reflect in their account. Should the funds not reflect in the auctioneer’s account within twenty four (24) hours for any reason whatsoever they may then cancel the sale and reserve the right to offer the goods for sale again. Bank transfer and mobile money payments will only be considered received by the auctioneers when the funds are credited to their bank or mobile money accounts.

  • Purchasers levy, Duties, VAT, Delivery Costs & other charges. All prices shall expressly exclude any purchasers levy, applicable VAT, duties of any kind, delivery and loading. Details of the applicable Purchasers levy, VAT & delivery charges can be requested from the auctioneer.

  • Withholding tax. All prices are expressly exclusive of any Withholding Tax which shall be payable by the buyer directly to the relevant Revenue Authority. Where the buyer accounts for such amounts they may request for a valid tax clearance certificate of the auctioneer’s principal. In the event that the auctioneer’s principal does not have a valid tax clearance certificate the buyer may then request the details of the auctioneer’s principal for the purpose of issuing a withholding tax certificate in the principal’s name, which shall be sent by the buyer to the auctioneer immediately for onward forwarding to the principal.

  • Lots sold “As Is, where is, with all faults and liabilities”. Buyers are encouraged to seek expert opinions, view, test and determine the state of each lot independently prior to making payment. All lots are sold as-is, where is, with all faults and liabilities and the sellers and the auctioneer as their agent do not guarantee any condition expressed by themselves of any lot and do not accept any responsibility for any misrepresentation of any sort. Loading, removal and transportation of the lots is the entire responsibility of the buyer. Lots must be removed from the auctioneer’s premises within two working days from the date of invoice.
     
    All lots and in particular vehicles are sold on the basis that all licensing arrears and change of ownership fees are the responsibility of the buyer. In cases where vehicles are consigned by sellers who have not changed ownership into their name prior to consignment, all subsequent charges, fees and fines whatsoever will become the responsibility of the buyer. Information on specific lots pertaining to the above can be obtained from the auctioneer and in the cases where such information is not available buyers certify that they accept full responsibility for any decision that they make to buy lots where they are uninformed.

  • Returns & Refunds. Any claims for returns & refunds can be made to the seller via their agent, the auctioneer, and not directly to the auctioneer as they will not be liable to make any returns & refunds on their principal's behalf without their consent.

  • Storage, security & responsibility. The security and responsibility of goods transfer to the buyer at the time each lot is sold. The auctioneer will not be held responsible for any loss or damage of any kind, to lots left within their premises. Should lots remain in the auctioneer’s premises after two working days from the date of invoice, they will be resold at the risk and expense of the purchaser under the auctioneers Terms & Conditions of Acceptance as displayed below.

Auctions

  • Agent & Principal. The auctioneer sells goods as an agent of their principals, the sellers, therefore payments received by the auctioneer are for onward transmission to the sellers. Whilst the auctioneer take steps to establish that sellers of goods auctioned are in fact the true owners of the goods, it can occur that the auctioneers are misinformed and as a result, whilst the auctioneers act in good faith, they sell goods only on the basis that they are not responsible for any subsequently discovered defect in title.

  • Registrations, Spending Limits & Deposits. Each individual auction requires that bidders register prior to being approved to bid. Registration approval will be granted or denied at the entire discretion of the auctioneer and may take up to one hour from the time of application. Registrants are classified in to three groups, Good Bidders, Standard Bidders & Bad Bidders. Bidder classification is based off bidder’s previous bid and payment history with the auctioneer. This classification is at the auctioneer’s entire discretion.

    • Good Bidders. Will be approved for all registrations and have no set spending limit.
    • Standard Bidders. Will be approved for all registrations and have a spending limit set based on each individual auction registration, details of which can be found in the auction information. Should registrants wish to increase their spending limit they may pay a surety deposit of more than ten percent (10%) of the specific auction’s spending limit. Any amount of surety deposit paid to the auctioneers above ten percent (10%) of the set spending limit per auction will increase the spending limit per auction at a ratio of 1.00 deposit : 10.00 spending limit increase.
    • Bad Bidders. Will be rejected for all registrations unless they make payment of a surety deposit to the auctioneer in which case they will then be approved and have a spending limit set at a ratio of 1.00 deposit : 2.00 spending limit.

Payment of surety deposits will be accepted by way of cash, swipe, mobile money or bank transfer. Failure to honour payments within the set timelines as described below will result in any deposit being held by the auctioneer, being forfeit, the sale cancelled and the registrant's bidder status being reviewed. Deposits paid are not specific to any one auction and are accumulated in total and this total used to determine spending limits for all auction registrations that a bidder may register for.

  • Bidding. All bids are binding and cannot be removed or revoked. The auctioneer reserves the right to bid on behalf of their principal, regulate the bidding and refuse any bid. All lots are sold subject to the auctioneer’s approval up until the time that a purchase confirmation or tax invoice is produced.

  • Auction Definitions.
    • Lot End Time – Auction end times are the time at which the first lot on a auction is scheduled to close for bids. Lots thereafter may have staggered end times to enable bidders time to place other bids. Bidders are encouraged to check the end time of each lot to ensure they do not try bid after a lot has already closed. Each lot has a countdown timer to enable easy reference of the time left. NB. Slow internet connectivity may affect the countdown timer on the device being used and waiting for the last moment to bid is not advisable.

    • Bid Extensions – End times are scheduled times set at the time of the auction being created but are subject to change at the auctioneer’s entire discretion and in the case where a bid is placed within the last ten minutes of the scheduled end time of a lot, the timer will reset to add a further ten minutes from the time of the last bid. Any further bids thereafter will continue to reset the timer to add ten minutes after any such bid. Bidding on each lot will cease when a bid has not been received for ten minutes after the last updated end time.

    • Max Bid - Bidders may place a “Max Bid” of more than the current bid increment to authorise the auction system to bid on their behalf up to and including the selected max bid value selected. Should more than one bidder place the same max bid on the same lot the bidder that placed the max bid first will be deemed the highest bidder. Bidders are encouraged to confirm that after they have placed a bid that they are in fact “WINNING” and not “OUTBID” as can be the case if another bidder has placed a max bid equal to or in excess of their bid.

    • ESTIMATE (Est.) – The range between which the auctioneer has estimated the sale price of the lot to be.

    • STARTING BID – This is the minimum amount that bidders can place a bid at on a lot before any other bidder has placed a bid.

    • CURRENT BID– This is the current bid amount placed by the current winning bidder. NB. In the case that the current winning bidder has placed a max bid of higher than the Current bid at which they are winning, any bid placed equal to or below their max bid will display as OUTBID.

    • OUTBID – If a bidder has placed a bid and then been outbid by another bidder the lot will display “OUTBID” and detail their losing bid and the current winning bid.

    • WINNING – Should a bidder be the current highest bidder, “WINNING” will be displayed along with their current winning bid displayed as “Bidding (Currency)X,XXX.XX and their set Max bid.

  • Withdrawal. It is the auctioneers’ prerogative to withdraw any lot up to the end/close time of the lot.

  • Payments. Total payment made towards all bids won on an auction must be received by the auctioneers within 48 hours after the auction has ended. Bank transfer and mobile money payments will only be considered received by the auctioneers when the funds are credited to their bank or mobile money accounts. Should funds not be received by the auctioneers for any reason whatsoever within 48 hours of the end of the auction, any deposit held by the auctioneer will be forfeited & the auctioneer reserves the right to re-sell the lot/s or enforce the sale at their discretion. In the case of the latter, purchases will be subject to a 10% surcharge plus VAT on the Surcharge over and above the already forfeited deposit.

  • Purchasers levy, Duties, VAT, Delivery Costs & other charges. All bids shall expressly exclude any purchasers levy, applicable VAT, duties of any kind, delivery and loading. Details of the applicable Purchasers levy, VAT & delivery charges can be found in the description of each lot on auction. Bidders should refrain from bidding should they be unclear or do not understand any of the above.

  • Withholding tax. All bids shall expressly exclude any Withholding Tax which shall be payable by the buyer directly to the relevant Revenue Authority. Where the buyer accounts for such amounts they may request for a valid tax clearance certificate of the auctioneer’s principal. In the event that the auctioneer’s principal does not have a valid tax clearance certificate the buyer may then request the details of the auctioneer’s principal for the purpose of issuing a withholding tax certificate in the principal’s name, which shall be sent by the buyer to the auctioneer immediately for onward forwarding to the principal.

  • Lots sold “As Is, where is, with all faults and liabilities”. Buyers are encouraged to seek expert opinions, view, test and determine the state of each lot prior to bidding. All lots are sold as-is, where is, with all faults and liabilities and the sellers and the auctioneer as their agent do not guarantee any condition expressed by themselves of any lot and do not accept any responsibility for any misrepresentation of any sort. Loading, removal and transportation of the lots is the entire responsibility of the buyer. Lots must be removed from the auction premises within two working days from the date of invoice.

    All lots and in particular vehicles are sold on the basis that all licensing arrears and change of ownership fees are the responsibility of the buyer. In cases where vehicles are consigned by sellers who have not changed ownership into their name prior to consignment, all subsequent charges, fees and fines whatsoever will become the responsibility of the buyer. Information on specific lots pertaining to the above can be obtained from the auctioneer and in the cases where such information is not available buyers certify that they accept full responsibility for any decision that they make to buy lots where they are uninformed.

  • Returns & Refunds. Any claims for returns & refunds can be made to the seller via their agent, the auctioneer, and not directly to the auctioneer as they will not be liable to make any returns & refunds on their principal's behalf without their consent.

  • Storage, security & responsibility. The security and responsibility of goods transfer to the buyer at the time each lot is sold. The auctioneers will not be held responsible for any loss or damage of any kind, to lots left within their premises. Should lots remain in the auctioneer’s premises after two working days from the date of invoice, they will be resold at the risk and expense of the purchaser.

 

By registering you hereby certify that you will not use the procured articles for military purposes and that you are not in the list of “Denied Persons” of the Bureau of Industry and Security of U.S. Department of Commerce nor affiliated to any paramilitary organisation.


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TERMS & CONDITIONS OF ACCEPTANCE

  1. Agency. The principal, who is the seller, hereby appoints the auctioneer to be their agent for the purposes of selling the above mentioned or photographed goods and any other goods instructed or agreed to, delivered to or collected by the auctioneer on the terms and conditions outlined below. The auctioneer shall transmit payments received for the goods to the seller, subject to the terms and conditions outlined below.
  1. Auctions & Sales.The principle authorises the auctioneer to sell the above mentioned or photographed goods and any other goods instructed or agreed to, delivered to or collected by the auctioneer on their behalf as their agent and the auctioneer reserves the right to sell goods by private treaty or place goods on any auction and cannot guarantee that goods will be sold by a specific time or date. Where the auctioneer sells by auction and a lot is sold and then subsequently not paid for, the principal shall not have any right to claim damages or compensation in any form whatsoever from the auctioneer nor the bidder.
  1. Commissions, Levies & Charges.Goods entered for sale on behalf of the principal will attract commission fees charged based on the sale price of each lot sold. Commissions are calculated on value bands as provided below or in any other written agreement between the principle and auctioneer.

    Sale Value (USD)
    Commission (%)
    $0.00 - $10.00
    45.00%
    $10.01 - $25.00
    35.00%
    $25.01 - $50.00
    25.00%
    $50.01 - $100.00
    22.50%
    $100.01 - $500.00
    20.00%
    $500.01 - $1,000.00
    17.50%
    $1,000.01 - $2,000.00
    15.00%
    $2,000.01 - $4,000.00
    12.50%
    $4,000.01 - $8,000.00
    10.00%
    $8,000.01 - $12,000.00
    7.50%
    $12,000.01 - $1,000,000,000.00
    5.00%


Commissions, vehicle entry fees, transport/collection and/or any other charges associated with the sale and handling of goods for sale will attract VAT and will be invoiced and deducted off the remittance of sale proceeds at the time of pay-out. The auctioneer reserves the right to levy a buyer’s premium, buyer’s commission, purchaser’s levy or any other charge as it may customarily be known as, based on a percentage of the sale price of each lot sold to the buyer/s.

  1. Consignments, Lots & Descriptions.Goods collected by, or delivered to the auctioneer may be split or amalgamated into saleable lots at the entire discretion of the auctioneer and may not appear in subsequent documents as they do above or on any collection note, delivery note or any other document. Each lot will be allocated a lot number and may be grouped in single or multiple consignments at the entire discretion of the auctioneer.
  1. Loss or Damage.The auctioneer accepts no responsibility whatsoever for any loss of, or damage to, goods consigned to themselves. The auctioneer shall not be liable whether in contract, tort (including negligence), breach of statutory duty or otherwise for any loss or damages to the goods consigned to themselves. All goods are consigned entirely at the owner’s risk.
  1. Estimate Values. All goods consigned to the auctioneer will be assigned estimate values by the auctioneer based on their experience selling similar items. Estimate values are used by the auctioneer in calculating withdrawal fees if applicable, as set out below, and in setting a minimum starting bid on any initial online auction that the goods may be placed. Starting bids will generally be set at fifty percent (50%) or more of the estimate value. The auctioneer however reserves the right to change the starting bid percentage at any time without prior notice to the principal.
  1. Sales & Pricing. All goods consigned to the auctioneer will be sold at the auctioneer’s entire discretion and the auctioneer does not guarantee that goods will be sold at a specific price unless agreed in writing by the auctioneer in the form of a “Reserve Price” as described below.
  1. Non-Reserve Price Sales. Goods where no reserve price is agreed to in writing by the auctioneer and that are not sold and paid for after being auctioned once, may be placed on the next available auction with the lowest possible starting bid and sold to the highest bidder without prior communication to, or consent of the principal.
  1. Reserve Price Sales. Any reserve price agreed upon in writing by the auctioneer will be held as the minimum price the auctioneer may sell the lot for, for a maximum period of thirty days from the date of consignment, provided that such goods have been placed on at least one auction and not been sold and paid for on any such auction, after which goods may be placed on the next available auction with the lowest possible starting bid and sold without reserve to the highest bidder without the prior communication to, or consent of the principal.

    Where the auctioneer places a lot with a reserve price on an auction and receives a highest bid below the agreed reserve price, the lot will be considered to be sold “Subject To Confirmation” from the principal or “Pending” confirmation from the principal. The auctioneer shall then attempt to contact the principal to seek approval to either proceed to sell at the bid price or reject the bid and maintain the agreed reserve price up to the expiry of the thirty day period aforementioned. Should the auctioneer not receive a decision from the principal within twenty four hours of the highest bidder being declared, for any reason whatsoever, the auctioneer may, at their entire discretion, deem the bid to have been rejected and the bidder released of his/her/their obligation to honour the bid.
  1. Purchases. The auctioneer reserves the right to make offers to purchase goods directly from the principal of such goods and should an offer be accepted the good’s ownership will pass to the auctioneer at the time of acceptance of the offer. Payment of purchases thereafter will be processed within forty eight hours of receiving written instruction to do so. Offers to purchase goods directly from the principal will only be valid for a period of twenty four hours from the time the offer is made and should the principal fail to accept an offer within the stipulated time the goods will be entered for sale on the principals’ behalf and sold on a commission basis thereafter.
  1. Storage. Goods that remain in the auctioneer’s premises that the auctioneer is prevented from selling or instructed not to sell for any reason whatsoever will attract a storage fee of US$2.00 per cubic meter per day exclusive of VAT. Storage will accrue up until the time that the goods can be sold or are removed from the auctioneer’s premises. Should such goods remain in the auctioneer’s premises for more than fourteen days, they will be sold at the risk and expense of the principal.
  1. Withdrawals. Should the principal wish to withdraw goods prior to them having been auctioned, a withdrawal fee equal to the estimate value, as determined by the auctioneer, multiplied by the relevant commission percentage value band as provided above, plus VAT will be levied.

    Goods that have been sold on auction but have not had a completed sale (payment received), made by the auctioneer within seven (7) days of the end of the auction will not be legible for withdrawal unless by the consent of the successful highest bidder, which may be requested by the principal through the auctioneer.

    Where goods have been auctioned and a completed sale (payment received) by the auctioneer not made within seven (7) days of the end of the auction for any reason whatsoever, the principal may withdraw the goods with no withdrawal fee being levied. All withdrawals will only be affected on receipt of written instruction to do so and payment of any applicable withdrawal fee and any other debts that may be outstanding to the auctioneer.

    Withdrawn goods must be removed from the auctioneer’s premises within forty eight hours of withdrawal, failing which they will be sold at the risk and expense of the principal.
  1. Interim reporting by the Auctioneer. Automated “Seller Report” emails detailing all lots that are currently consigned to the auctioneer may be sent to the principal or any representative of the principal upon request by themselves or at the auctioneer’s entire discretion.
  1. Remittances & Tax Obligations.The onus of monitoring the sales of lots and the processing of pay-outs is the responsibility of the principal and payment instructions may only be fulfilled by the auctioneer when they receive accurate and legible written instruction to do so from the principal for each individual payment request.

    Upon pay-out of any lots, the auctioneer will furnish the principal with documentation detailing the lot numbers, lot descriptions, the sale price of each lot, the applicable commission percentage charged on each lot, the total sale value of all the lots, the total of each commission value band calculation, any other charges to the principal levied by the auctioneer, any applicable VAT charged on the commission and other charges, total deductions made by the auctioneer and the net pay-out value due to the principal.

    The auctioneer does not charge VAT on the sale of goods sold on behalf of their principal, and the principal, if a registered operator, is responsible for accounting for all such sales themselves as well as the remitting of any VAT to the relevant Revenue Authority. Where the auctioneer remits funds to the principal for sales made on the principal’s behalf and where that principal is a registered operator, the principal must deem such sales to have been made by themselves and further deem the sale price, exclusive of any deductions by the auctioneer, to have been made inclusive of VAT.

    If the principal is not a registered operator, the principal shall receive the funds for sales made on the principal’s behalf less Withholding Tax payable by the buyer directly to the relevant Revenue Authority. Upon request by the buyer, the auctioneer may furnish the buyer details of the principal for the purpose of issuing a Withholding Tax certificate in the principal’s name, which shall be sent by the buyer to the auctioneer immediately for onward forwarding to the principal.

No variation to these Conditions of Acceptance will be regarded as a variation unless recorded in writing and signed by the Auctioneer.

SURETY

The registrant to this agreement/these terms and conditions binds himself/herself/itself as surety and co-principal debtor together with the company, close corporation, trust, partnership, association or any other person or entity reflected on the face of the terms and conditions or registration and hereby certify that by offering goods for sale, the principal warrants and presents that such goods are solely his/her/their property or his/her/their principal’s property, and are not the subject of any hire purchase or like agreement that encumbers the goods. However, should the Auctioneer discover that there are any outstanding debts on the goods, the principal irrevocably authorises them to settle any such debts from the sale proceeds prior to making payment to themselves and to the extent that this is not possible both they and their principal agree to reimburse the auctioneer. If legal proceedings have to be instituted, they, and their principal agree that the legal process may be served on themselves and their principal at the above address. The principal further hereby indemnifies and keeps indemnifies the auctioneer in respect of any claim or damages that may arise in respect of the sale of its goods or in the provision of any of its services, whether that claim arises from a third party or a statutory body.