Rules of Auction – Bridal Auction Spree

RULES OF AUCTION

DYNAMIC AUCTIONEER IN CALLOBORATION WITH BRUIDSGIDS AND BRIDAL GUIDE SA – BRIDAL BARGAIN SPREE AUCTION

VENUE: TIMED ONLINE AUCTION   – WWW.DYNAMICAUCTIONEERS.CO.ZA

DATE: 31 July 2020  to 2 August 2020

TIME : 9:00 – 00:00

This auction is conducted by Dynamic Auctioneers, PO Box 68516, Highveld Park 0169; 5 Ellman Street, Sunderland Ridge, Centurion, 0157; Tel. 0861 55 22 88, Email: ronnie@dynamicauctioneers.co.za.

 

GENERAL RULES OF THE AUCTION WITH RESERVE
(SUBJECT TO SELLER’S CONFIRMATION)

  1. The relevant internet website or electronic medium or platform is generally available to anyone over the age of 18 years at any time of the day and the purchaser consents that they are at the right age as set out above of the time of the Auction or placing bids.
  2. The sale shall be subject to the control of Dynamic Auctioneers who shall have the sole right to regulate the advance in bidding.
  3. Dynamic Auctioneers is acting on instructions from VARIOUS SELLERS. The Auctioneer is duly authorised by the Sellers to sell the assets by public auction on the following conditions:
  4. Auction with Reserve means that the property will be sold to the highest bidder but subject to confirmation by the Seller who has 5 business’ days to accept or reject the offer.
  5. Auctions commence at 09h00 unless otherwise advertised and will not be delayed to accommodate any persons who arrive late. The Rules of Auction will be read available 24 hours prior to the Auction.
  6. A prospective bidder cannot participate in the bidding process if not registered as a bidder. The registration process includes –
    1. (i)     registration of the prospective bidder’s identity,
    2. (ii)    residential address,
    3. (iii)   contact details, and
    4. (iv)   full completion of the registration roll ( bidder roll ) and acceptance of the Rules of Auction and Terms and Conditions of the venue  / vendor  prior to the commencement of the auction. The bidder’s roll will be made available for inspection at the auction and at the Auctioneer’s offices during normal business hours without the charge of a fee.
  1. All registered bidders must
    1. (i)     thoroughly inspect the property and/or goods and ;
    2. (ii)    read the offer to purchase (“the Sales Contract”)  / RULES OF AUCTION before the bidding starts and must not bid unless he or she has done so.
  2. We are selling per rising bid in South African Rand.
  3. The Vat status of the Seller will be announced on the Auction, all lots are subject to 15% VAT.
  4. Each LOT that is numbered or pointed out by the auctioneer will be sold subject to a reserve price or subject to confirmation. The auctioneer or his/her agent shall be entitled to bid up to the reserve price on behalf of the owner but shall not be entitled to make a bid equal to or exceeding the reserve price.
  5. Any error by the Auctioneer shall be entitled to be corrected by him/her.
  6. A person who attends the auction to bid on behalf of another person, must produce a letter of authority that expressly authorises him/her to bid on behalf of that person. Where a person is bidding on behalf of a company, the letter of authority must appear on the letterhead of the company and must be accompanied by a certified copy of the resolution authorising him or her to bid on behalf of the company.
  7. If you as registered purchaser and allow a second or third person to purchase with your number, you will, as registered purchaser be held and kept liable for payment for your account.
  8. In the event of any dispute between the bidders, the decision of the Auctioneer shall be final and binding.
  9. The Rules of the Auction will be available on www.dynamicauctioneers.co.za and a copy thereof will be available to all registered bidders and will be filed at the Auctioneer’s office for a period of 5 (five years).
  10. After reading of the Rules of the Auction and before the bidding starts, bidders will be able to ask questions regarding the auction procedure and/or the property for sale.
  11. The Purchaser shall not be held liable for any arrears unless otherwise stipulated in the Sales Contract.
  12. Every bid shall constitute an offer to purchase the property / asset for the amount bid, which the Seller or the Auctioneer may accept or reject in their absolute discretion. The Seller and the Auctioneer are entitled to withdraw the property / asset from sale prior to acceptance by the Seller.
  13. The highest bidder (“the Purchaser”) shall automatically accept the invoice , and terms thereof immediately on the fall of the hammer  / acceptance of the offer.
  14. If no bid equals or exceeds the reserve price, the property / assets may be withdrawn from the auction. The Seller shall be entitled to instruct the auctioneer to accept any lower bid.
  15. The Seller has 5 business’ days (“the Confirmation Period”) to accept or reject the offer. No bid may be withdrawn after the fall of the hammer until the expiry of the Confirmation Period. During this time the offer shall be open for acceptance by the Seller or his agent and if the offer is accepted, the sale shall be deemed to be a sale by auction for purposes of the Act.
  16. The Purchaser’s offer shall remain open for acceptance by the Seller or by the Auctioneer on behalf of the seller, until expiry of the confirmation period. The Purchaser and the Auctioneer acknowledge and agree that this provision is for the benefit of the Seller.
  1. The Purchaser’s offer shall be deemed to have been accepted only when the Seller or the Auctioneer, whichever may be applicable, has accepted on behalf of the Seller and the Seller shall not be required to notify the Purchaser of the acceptance of its offer prior to expiry of the confirmation period.
  2. Should the Seller reject the Purchaser’s offer, the Auctioneer will repay to the purchaser any deposit and commission paid to it in terms of the Sales Contract within a reasonable time.
  3. In the event of the sale requiring the consent of any statutory authority or any court of law, then this auction sale is subject to the granting of such consent.
  4. Dynamic Auctioneers have a 10% auctioneers commission fee. As soon as the Seller accepted the Purchaser’s offer, the Auctioneer’s attorneys will send a statement to the Purchaser who must pay the auctioneers’ commission plus VAT directly into the trust account of the Auctioneer’s Attorneys.
  5. The rules of the auction meet the requirements of the Consumer Protection Act, Act 68 of 2008 (“the Act”) to the best of the Auctioneer’s knowledge.
  6. Section 45 (1) to (4) are brought to the registered bidders’ attention:
  • In this section “Auction” includes a sale in execution pursuant to a court order to the extent that the order contemplates that the sale is to be conducted by an auction.
  • When the goods are put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be the subject of a separate transaction.
  • A sale by auction is complete when the auctioneer announces its completion by the fall of the hammer, or in any other customary manner and until that announcement is made, a bid may be retracted.
  • Notice must be given in advance that a sale by auction is subject to –
  • A reserved or upset price a); or b) A right to bid by or on behalf of the owner or auctioneer, in which case the owner or auctioneer, or any one person on behalf of the owner or auctioneer, as the case may be, may bid at the auction.
  1. Section 55 (1) expressly states that the cooling off period does not apply to goods bought on auction: “Consumer’s rights to safe, good quality goods 55. (1) This section does not apply to goods bought at an auction, as contemplated in section 45.
  2. All monies must be paid to Dynamic Auctioneers’ Trust Account for the benefit of the Seller. A refundable deposit to the value of R 0.00 is payable upon registration.
  3. The auctioneer will during the auction announce the reason for the auction unless that reason is the normal and voluntary disposal of property by the seller.
  4. The sale shall be by the rise and lots shall be sold to the highest bidder subject to the Auction Rules and the Conditions of Sale, if applicable.
  5. Should the purchaser’s offer be rejected by the Seller, the purchaser shall be entitled to a refund of any deposit and/or commission paid by him or her.
  6. Should the sale require the consent of a statutory authority or any court of law, then the auction shall be subject to the granting of such consent.
  7. It is the bidder’s responsibility to confirm any trade or retail values provided as well as the year model of any Lot, if applicable. All details provided is according to the information at the disposal of the agent/seller and is not guaranteed in any way.
  8. The Movable and Immovable property are purchased and sold “voetstoots” and the SELLER shall not be liable for any defects, patent, latent or otherwise in the PROPERTY nor for any damage occasioned to or suffered by the PURCHASER by reason of such defect.
  9. The SELLER shall not be required to indicate to the PURCHASER the position of the beacons or pegs upon the PROPERTY and/or boundaries thereof, nor shall the SELLER be liable for the costs of locating same.
  10. Descriptive information given, adverts and catalogues are done in good faith. The Auctioneer or the seller cannot be held responsible for any errors of description.
  11. Balance of the purchase price becomes due and payable on the fall of the hammer. Payment to be made during or immediately after the sale. Goods remain the property of the auctioneer until full payment has been received.
  12. No goods may be removed during the time of sale and must be paid for in full before they are removed from the premises.
  13. There will be a R 1750.00 excluding VAT, vehicle paper processing fee charged per vehicle. Please note that licensing papers may not be available on the auction day for administrative reasons. Please note that Natis documents may take up to 21 days. Dynamic Auctioneers does not confirm year of manufacture of any registered vehicle and only has knowledge of date of liability for first licencing.
  14. All Immovable Properties sold on Auction , in addition to the RULES OF AUCTION set out as the above , are subject to the specific Terms and Conditions of vendor / venue which can be obtained from Dynamic Auctioneers upon request.
  15. The Seller moreover reserves the right to accept any other offer that may be received in respect of the movable assets during the confirmation period. In addition, and for the sake of clarity, it is recorded that the Seller shall be entitled to accept any offer received at auction immediately and on the spot, and shall not be obliged to wait out the confirmation period before doing so.
  16. In addition to the Rules of Auction and Conditions that may apply at the date of the Auction: The package / lot voucher will be valid for a period of 2 (two) years from date of termination of the current South African locked down period i.e. the date as will be announced by Government Notice, unless otherwise stipulated. The highest bidder at the auction (“the purchaser”) will be a preferred customer of the venue for the period as alluded to above. The PURCHASER will be obliged to confirm a  booking within the first 6 months of the termination date of the lock down period.  All bookings will be subject to availability at time of the booking.
  17. Each purchaser must familiarise themselves and read the Terms and Conditions / House Rules where stipulated by each venue or vendor , whichever may be applicable, before placing a bid. The terms and conditions  / House Rules of the Venue / Vendor may not be changed for the benefit of the purchaser unless agreed  in writing by the seller.
  18. By reading and accepting the Rules of Auction as set out above and accepting the same , the purchaser agrees that they understand and accepts the terms thereof without any dispute.

Auctioneer’s Commission

The Purchaser shall be liable to pay the auctioneer’s commission at a rate of 10 % plus VAT over and above the purchase price.

I hereby certify that to the best of my knowledge the rules of auction comply with the requirements of Regulation 27.

Ronnie Botes

For: Dynamic Auctioneers

NOTICE TO ALL ATTENDEES

Each and every lot will be sold as is, where is, with no guarantees or warrantees, express or implied. All information regarding the lots in the buyer’s guide are statements of opinions only and shall never imply any guarantee as to the correctness of completeness of any information supplied either verbally or in writing about any lot. Mileages supplied are not guaranteed and should be checked by the purchaser. Persons attending are notified that an auction site is potentially dangerous place. Flammable, Noxious, Corrosive and pressurized substances are present, heavy equipment is being operated and electric circuits may be live. Every person at the Auction site before, during and after the auction sale shall be deemed to be there at his own risk with notice of the condition of the premises, the activities on the premises and the conduct of third parties and any registered bidder shall so advise his agents and employees. No persons shall have any claim against the auctioneers, their agents , employees or principals for any injuries sustained, nor for damages to or loss of property which may occur from any cause whatsoever.

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