Terms and Conditions - Rules

 

  1. Any goods subject to a reserve price will be announced at time of sale.
  2. The auction is subject to bids by the owner/auctioneer or persons on their behalf.
  3. The auction will commence at the original published time unless publicised to the contrary.
  4. The auction complies with Section 45 of the Consumer Protection Act 68 of 2008 and the
    Regulations (R24-40) published thereunder under Government Gazette no. 33818.
  5. The following Sections of the Consumer Protection Act should be noted: Section 45 (1) in this section ‘auction’ includes a sale in execution of or pursuant to a court order, to the extent that the order contemplates that the sale is to be conducted by an auction. (2) When goods are put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be subject of a separate transaction. (3) 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.
  6. No person will be entitled to bid unless they register in the bidder’s record prior to the start of the auction his/her identity and verification of address in compliance with the Financial Intelligence Centre Act, 2001 (FICA).
  7. Any person bidding on someone else’s behalf should have written authority to do so, and provide all necessary details verifying such persons identity as required by FICA.
  8. All monies paid by bidders will be paid into Trademart’s trust account for the benefit of the seller. Such money minus commission and other expenses to be paid to the seller within 14 (FOURTEEN) days after the auction.
  9. The reason for the auction will be designated on the advertisement and announced at the auction unless a normal voluntary disposal of goods.
  10. The bidders’ record, vendue roll and the auction advertisement will be available for inspection during normal working hours at no charge.
  11. The highest bidder shall be the purchaser, subject to any reserve price, immediately the lots have been knocked down to him/her. Should any dispute arise between two or more bidders, the lots in dispute will be put up again and resold. The auctioneer’s decision in all cases is final.
  12. The Buyers rights to safe, good quality goods (Section 55 of the Consumer Protection Act) are excluded for goods purchased at an auction. Accordingly all goods are sold “Voetstoots” and no warranty whatsoever is given in respect of the correct description, quality or quantity thereof. Neither the auctioneer nor the owner/lawful holder accept responsibility for any errors patent or latent and the purchaser must satisfy himself of the genuineness or authenticity of any article offered for sale. A bid shall be taken as proof that the bidder has made himself acquainted with the lot for which he bids and the conditions under which he is purchasing. The risk in any lots/goods knocked down to the purchaser immediately becomes
    the purchaser’s risk who must remove goods purchased at his expense within one day from the date of sale, failing which the auctioneers shall have the right to dispose of the goods at another auction without reverting back to the purchaser and/or levy reasonable storage charges. “Misplacement of card” responsibility of the owner.
  13. Terms: Cash. All accounts must be paid immediately at the conclusion of each sale, if not, the registration deposit will be forfeited. Ownership of goods/lots purchased will be deemed to have passed to the purchaser only upon full settlement of account.
  14. The auctioneer’s vendue roll of sale is FINAL. No dispute will be taken into consideration as to the correctness of same.
  15. NB Value added tax must be added to all purchases unless otherwise stated.

 

Registration Deposits Payable

Vehicles:     R5,000.00 per unit

Furniture:   R1,000.00

General Goods (Saturday): R500.00