CONDITIONS FOR THE SALE OF MOVABLE ASSETS BY AUCTION
- In respect of all goods offered for sale at the auction, the highest accepted bidder shall be the purchaser.
- For your safety as well as ours, all payments must be made at the office. All payments made via Bank Guarantee Cheque (BGC) or Electronic Funds Transfer (EFT) must be made out to:
| Bank | FNB |
| Acc holder | Uriel International Auction (Pty) Ltd |
| Acc no | 62881470919 |
| Branch code | 261750 (Randburg square) |
3. When paying with a Bank Guarantee Cheque (BGC) please make sure that it is done during office hours in order to verify and release purchased goods.
4. Any payments made to an account other than that of the company will be made at YOUR OWN RISK and we at Uriel International Auction (Pty) Ltd. will not be held liable.
5. Please make sure that you receive and check the receipt presented by our office for all amounts paid (payment invoice).
6. Subdividing invoices:
- An invoice for subdivided goods will be provided however, the goods will be released once the total amount of the presented invoice has been received.
- In addition to the above, we do not offer financing for any items on auction.
7. Viewing moveable assets take place a day before the auction from 9 am to 6 pm.
8. The registration fee (deposit) of R 5000.00 will be refundable if you do not win the bid on any items registered for.
9. The Auctioneer has the right to regulate the bid and perform advancing bidding.
10. When a dispute between one of more buyers occur, the auctioneer has the right to re-auction or cancel the bid while auctioning a particular item. Once the item is passed by the auctioneer, the deal is sealed. We shall not return to previous items.
11. The total cost to the client (calculated):
Vehicles:
Bid Price + 10% Buyers Commission + 15% VAT on the commission + 1500 Handling fee = Total price.
Please take note of the example below:
| BID PRICE (R) | + 10% BUYER COMMISSION (R) | + 15% VAT ON COMMISSION (R) | + HANDLING FEE (R) | = TOTAL COST (R) |
| 100 000.00 | 10 000.00 | 1 500.00 | 1 500.00 | 113 000.00 |
| 90 000.00 | 9 000.00 | 1 350.00 | 1 500.00 | 101 850.00 |
| 80 000.00 | 8 000.00 | 1 200.00 | 1 500.00 | 90 700.00 |
| 50 000.00 | 5 000.00 | 750 | 1 500.00 | 57 250.00 |
Furniture, electronics, appliances, computers and hardware etc.:
Bid Price + 10% Buyers Commission + 15% VAT on the commission = Total price.
Please take note of the example below:
| BID PRICE (R) | + 10% BUYER COMMISSION (R) | + 15% VAT ON COMMISSION (R) | = TOTAL COST (R) |
| 5 000.00 | 500.00 | 75.00 | 5 575.00 |
| 2 000.00 | 200.00 | 30.00 | 2 230.00 |
| 1 000.00 | 100.00 | 15.00 | 1 115.00 |
12. Cancelations
A 20% cancellation fee is charged on all items bid upon and not taken (20% of the bid price, not the registration fee (deposit)).
In addition to cancellations, please note the following:
- No Refunds
- No Exchanges
- No Guarantees
- All Goods Sold “AS IS”
- No duty to repair
- Motor plans or warranty status not specified
- Odometer reading cannot be guaranteed
- Not held responsible for year model discrepancy
13. Payment for goods should be finalised no later than Wednesday (72 hrs.) following the auction day. If not, your deposit will be forfeited and the cancellation fee will effective.