General Rules Of Auction

IAN WYLES PROPERTY - TERMS AND CONDITIONS OF SALE INCORPORATING A SURETYSHIP BY THE PURCHASER’S REPRESENTATIVE 

Terms of payment: Cash or Bank Guaranteed Cheque

GENERAL 

  1. The sale by public auction is subject to confirmation by the Trustees/Liquidators/Executors/ Bondholders.
  2. The auctioneer or his agent shall be entitled to bid  up at the auction on behalf of the seller or as proxy for a registered bidder.
  3. These rules of auction comply with section 45 of the Consumer Protection Act, Act 68 of 2008 (“the  Act”) and all regulations promulgated in terms of the Act (“the Regulations”).
  4. The following provisions are brought to the attention of the purchaser: Section 45 subsection (1),  (2) and (3) of the Act provides that:
    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 a public auction.
    2. When goods are put up for sale by public auction in lots, each lot is, unless proven otherwise, regarded to be the subject of an  individual transaction.
    3. A sale by public auction is determined when the auctioneer announces its completion by the fall of the hammer, or in any other manner in which the  auctioneer deems it complete and until such time, a bid may be retracted.
  5. The public auction will commence at the time published and will not be delayed to allow any specific  person or more persons to take part in the auction.
  6. All monies payable in respect of the purchase price and deposit will be paid into the seller’s duly appointed conveyancer’s  (“the conveyance”) trust account for the benefit of the seller in terms of the Conditions of Sale that applies to the public auction sale (“the Conditions of Sale”).
  7. Any  commission payable to Ian Wyles Auctioneers in terms of the Conditions of Sale will be paid into the Ian Wyles Auctioneers Property Trust account.
  8. The Conditions of Sale  will be available for inspection on the auctioneer’s website and at the auctioneer’s offices at least 24 hours prior to the commencement of the auction and will also be available for  inspection at the auction. The auctioneer is in law entitled to proceed with the auction without reading out the Conditions of Sale, if no bidders object.
  9. The auctioneer will  during the public auction announce the reason for the public auction unless that reason is the normal and voluntary disposal of property by the seller/owner.
  10. The bidder’s  record and the vendor roll will be made available for inspection at the offices of Ian Wyles Auctioneers during normal business hours without the charge of a fee. The bidders’  record will be available for inspection at the public auction.
  11. The conduct of the public auction is subject to the control of the auctioneer who has the sole right to regulate the  bidding procedure.
  12. The sale shall be by the rise and the property shall be sold to the highest bidder subject to the public auction rules and the Conditions of Sale.
  13. Every  prospective bidder must read the Conditions of Sale and must not bid unless he or she has done so.
  14. Every bid shall constitute an offer to purchase the property 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, in their absolute discretion to withdraw  the property from sale prior to acceptance by the seller.
  15. Bidders be aware that each bid amount represents the purchase price only and excludes, inter alia, valued added  tax (where applicable), transfer duty, auctioneer’s commission and/or all or any other amount payable by operation of law in order to effect the transaction.
  16. If no bid equals or  exceeds the reserve price, the property may be withdrawn from the public auction. The seller shall be entitled to instruct the auctioneer to accept any lower bid.
  17. In the event  of any dispute between the bidders, the decision of the auctioneer shall be final and binding.
  18. If the auctioneer should make an error he shall be entitled to correct same.
  19. No bid may be withdrawn after the fall of the hammer until the expiry of the confirmation period that is provided for in the Conditions of Sale, during which 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 sale by public auction for purposes of the Act.
  20. The highest bidder  (“the purchaser”) (and surety, where applicable) shall sign the Conditions of Sale immediately on the fall of the hammer. If the Purchaser fails to furnish the auctioneer with the  signed Conditions of Sale, the auctioneer may declare the transaction cancelled by notice to the Purchaser to that effect and sell the property to the second highest bidder.
  21. This 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.
  22. The purchaser’s offer shall be deemed to have been accepted only when the seller or the  auctioneer, whichever may be applicable, has signed the Conditions of Sale on behalf of the seller in the space provided at the end of the Conditions of Sale and the Seller shall  not be required to notify the purchaser of the acceptance of its offer prior to expiry of the confirmation period.
  23. Upon acceptance of the highest bid by the seller, an  enforceable sale agreement shall come into existence as between the seller and the purchaser (or where the bidder represents a third party, the third party whom the bidder  represents) on the terms and conditions as set out in these Rules and the Conditions of Sale.
  24. Should the seller reject the purchaser’s offer, the auctioneer will repay to the  purchaser any deposit and commission paid to the auctioneer in terms of the Conditions of Sale.
  25. In the event of the sale requiring the consent of any statutory authority or  any court of law, then this public auction sale is subject to the granting of such consent. 
  26. REGISTRATION/REPRESENTATION OF THIRD PARTIES
    1. Consumers  wishing to participate in the auction must register their identity with the auctioneer prior to the commencement of the auction and as provided in this clause
    2. The auctioneer  may not accept bids from consumers who are not registered in accordance with these rules of auction.
    3. Consumers wishing to bid at the auction must furnish the auctioneer,  prior to the commencement of the auction, with their:-
      1. name and identity or passport number;
      2. physical address, postal address, telephone number, telefax number,  cellular number and e-mail address.
    4. Bidders be aware that the auctioneer is required to verify the bidder’s identification and address details in accordance with Chapter One  of the regulations in terms of the Financial Intelligence Centre Act 2001 published in Notice No. R.1595 in Gazette No. 24176 of 20 December 2002 (the “FICA Regulations”).  The FICA Regulations oblige the auctioneer to obtain the following information and documentation:-
      1. an identification document of the bidder; or
      2. in the case where the  bidder is, for a reason that is acceptable to the auctioneer, unable to produce an identification document:-
        1. another document issued to that bidder, which, taking into  account any guidance notes concerning the verification of identities which may apply to the auctioneer, is acceptable to the auctioneer and bears:- (aa) a photograph of the  bidder; (bb) the bidder’s full names or initials and surname; (cc) the bidder’s date of birth; (dd) the bidder’s identity number, and;
        2. any of the above particulars with  information which is obtained from any other independent source, if it is believed to be reasonably necessary taking into account any guidance notes concerning the verification  of identities which may apply to the auctioneer;
          1. a document issued by the South African Revenue Service bearing the income tax number and the name of the bidder; 
          2. a utility bill or other documentation verifying the residential address of the bidder.
        3. It is in the sole discretion of the auctioneer to determine whether the information  which was provided complies with the requirements stipulated in the FICA requirements.
        4. A consumer who attends the auction to bid on behalf of another person (the  “Principal”) must:-
          1. fully comply with the provisions set out in clauses 2.1 – 2.4 above;
          2. produce a letter of authority signed by both the Principal and the bidder in  which the Principal expressly authorises the bidder to bid and to conclude a transaction on behalf of the Principal;
          3. produce the name and identity number, physical  address, postal address, telephone number, telefax number and e-mail address of the Principal together with verification as required in clause 2.4 above. For the sake of clarity it  is hereby recorded that both the bidder and the Principal are required to comply with the registration provisions set out in clauses 2.1 – 2.4 hereof.
        5. In addition to clause 2.4  above, where a bidder is bidding on behalf of a juristic person:-
          1. the letter of authority must appear on the letterhead of the juristic person and must be accompanied by a certified copy of the resolution authorizing the bidder to bid and sign the conditions of sale on behalf of said juristic person;
          2. the bidder is obliged to bind himself/herself as surety on behalf of the juristic person, and providing security for the obligations of the juristic person.
        6. If the person (or the Principal whom the bidder represents) is not a  natural person (referred to hereinafter as the “Entity”) the auctioneer may refuse to register the bidder (as representative of the Entity) unless the Entity has furnished the  auctioneer with a suretyship executed:-
          1. by a natural person;
          2. in favour of the Seller and the auctioneer;
          3. binding himself/herself as surety with and on behalf of the Entity;
          4. for the due fullfilment by the Entity of its obligations to the Seller and the auctioneer in terms of these rules of auction and in respect of any transaction concluded  pursuant to a successful bid. I have read and understood the rules of auction and have no objection to the rules of auction not being read out at the auction, to be valid

IAN WYLES  GENERAL & VEHICLE AUCTION - TERMS AND CONDITIONS OF SALE INCORPORATING A SURETYSHIP BY THE PURCHASER’S REPRESENTATIVE

  •          The Auctioneer at all times acts as Auctioneer for and on behalf of the seller of the goods. Unless specified to the
  •          contrary, all sales are subject to conformation by the seller and the highest accepted bidder shall be the purchaser.
  •          The Auctioneer has the right to regulate the bidding. He may furthermore withdraw any item at any time and impose other conditions of sale in his absolute discretion. The Auctioneer does not hold himself responsible for any errors of description, condition, and or working order thereof.
  •          A bid shall be taken as proof that the bidder has made himself/herself acquainted with the lots for which he/she bids.
  •          Lots once knocked down remain at the risk of the purchaser.
  •          No goods may be removed until fully paid for.
  •          All bids are exclusive of VAT.
  •          All sales are final and voetstoets.
  •          The seller does not warrant its own title nor does the seller and/or the Auctioneer warrant that the purchaser will not be evicted from possession.
  •          It is recorded that the seller neither foresees nor contemplates that the goods sold are worth more than the purchase price.
  •          Any improvements, additions or modifications to the goods are the entire responsibility of the purchaser.
  •          The seller will not, in the event of eviction of the purchaser from possession, be liable therefore, or for any consequential damages howsoever caused.
  •          The purchaser shall not be entitled to possession of any of his purchases until the total purchase price of all his purchases has been fully paid for by cash or bank guaranteed cheque.
  •          In the event of the purchaser failing to pay the full purchase price of any lot within the prescribed time, or if he fails to comply with any other terms of the sale, the purchaser shall forfeit any deposit paid to the Auctioneer and in addition, the Auctioneer shall retain a possessionary lien of all lots to the purchaser.
  •          The purchaser authorises the auctioneer to resell such lots for and on behalf of the purchaser by public auction or private treaty sale. The purchaser shall not be entitled to any further notice in this regard. Should the auctioneers resell any lot, the proceeds therefrom, after the deduction of commission and any costs incurred by the auctioneer, shall be credited to the original seller’s account.
  •          Any shortfall on the original purchase price bid by the purchaser shall be the seller’s measure of damages flowing from the purchaser’s default and shall be payable by the purchaser to the seller or the auctioneers on behalf of the seller upon demand.
  •          Any excess shall be for the benefit of the purchaser.
  •          The purchaser shall be bound by all announcements made by the auctioneer at the commencement of and during the sale whether or not he is present at the time of making such announcements.
  •          In the event of the seller instituting legal proceedings against the purchaser, the following provision shall apply:- (a) Such proceedings may be at the election of the seller or the auctioneer be instituted in a magistrates court having jurisdiction over the person of the purchaser in terms of section 28 of the Magistrates Court Act No.32 of 1944, notwithstanding the fact that the claim of the value of the matter in dispute might exceed the jurisdiction of such Magistrates Court, and (b) The seller shall be entitled to claim payment of the legal costs from the purchaser on an attorney and client basis, and (c) The purchaser shall be deemed to have selected and appointed as his domicilium citandi et executandi the address inserted by him/her on the buyers card/s signed by him / her, (d) A certificate issued under the hand of the auctioneer setting forth the amount of the purchasers liability arising from and out of any sale by the auctioneer shall constitute conclusive proof of such indebtedness by the purchaser and shall further constitute a liquid document for the purpose of provisional sentence, summary judgement or otherwise.
  •          The purchaser, should he / she sign the conditions and / or be the successful bidder on any lot/s in a representative capacity, hereby binds himself as surety and co-principal debtor for all the obligations of the concern that he represents.
  •          Terms :  Cash or Bank guaranteed cheque.
  •          Where a vehicle/truck/motorcycle/plant is purchased the onus is upon the buyer to check the engine, chassis numbers and the year of registration against the transfer document, before removing the vehicle, etc., from the sale yard.
  •          Once a vehicle, etc., has been removed, no queries in this regard will be entertained.

Terms of payment: Cash or Bank Guaranteed Cheque

  • The Auctioneer at all times acts as Auctioneer for and on behalf of the Seller of the goods.
  • The Auction shall commence at the published time and will not be delayed so as to allow any person to take part in the auction.
  • The Bidders record and vendors roll are available at the Auction House during normal working hours.
  • The goods are sold subject to reserve price.
  • The owner or auctioneer may not bid or employ any person to bid at the sale and the auctioneer may not accept any bid from anyone associated with the owner or auctioneer, in the event that the owner of the goods the auctioneer or or person associated with either persons bid at the sale, the sale is voidable at the instance of a consumer as defined in terms of the Consumer Protection Act.
  • The Auctioneer has the right to regulate the bidding.
  • In the event that the auction is for any purpose other than that of a voluntary disposal of goods, the auctioneer shall announce the reason for auction.
  • In the event that a person is bidding on another’s behalf the person so bidding will be required to present a letter of authority and details of the person or entity on whose behalf the Purchaser is bidding and shall verify his / her details or if applicable the details of the person on whose behalf he / she shall vote by way of identity document and proof of address in accordance with the requirements of the Financial Intelligence Centre Act. Failure to register in accordance with the requirements of the bidders roll will result in disqualification from the bidding process.
  • When 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 bid shall be taken as proof that the Bidder has made himself / herself acquainted with the lots for which he / she bids.
  • Lots once knocked down remain at the risk of the purchaser.
  • No goods may be removed until fully paid for.
  • All bids are exclusive of VAT.
  • All sales are final and voetstoets.
  • The Seller and / or Auctioneer do not warrant that the Purchaser will not be evicted from possession.
  • It is recorded that the Seller neither foresees nor contemplates that the goods sold are worth more than the purchase price.
  • All funds received from the Auction will be deposited into the Auctioneers trust account, the interest in respect of which will accrue for the benefit of the Seller.
  • Any improvements, additions or modifications to the goods are the entire responsibility of the Purchaser.
  • The Seller will not, in the event of eviction of the Purchaser from possession, be liable therefore, or for any consequential damages howsoever caused.
  • The Purchaser shall not be entitled to possession of any of his purchases until the total purchase price of all his purchases has been fully paid for by cash or bank guaranteed cheque.
  • In the event of the Purchaser failing to pay the full purchase price of any lot within the prescribed time, or if he fails to comply with any other terms of the sale the Purchaser shall be liable for an amount not more than 10 (ten) percent of the total purchase price or the total cost of advertising and conducting an auction and such additional costs may have been reasonably incurred as disbursements pursuant to the auction whichever is the lesser in addition the auctioneers shall exercise a possessionary lien over all lots / goods of the Purchaser.
  • The Purchaser authorizes the Auctioneer to resell such lots for and on behalf of the Purchaser by public auction or private treaty sale. The Purchaser shall not be entitled to any further notice in this regard.
  • Should the Auctioneers resell any lot, the proceeds therefrom, after the deduction of commission and any costs incurred by the Auctioneer, shall be credited to the original Seller’s account. Any shortfall on the original purchase price bid by the Purchaser shall be the Seller’s measure of damages flowing from the Purchaser’s default and shall be payable by the Purchaser to the Seller or the Auctioneers on behalf of the Seller upon demand. Any excess shall be for the benefit of the Purchaser.
  • The Purchaser shall be bound by these Rules and all announcements made by the Auctioneer at the commencement of and during the sale, whether or not he is present at the time of making such announcements.
  • In the event of the Seller instituting legal proceedings against the Purchaser, the following provision shall apply :
    • Such proceedings may be at the election of the Seller or the Auctioneer be instituted in magistrate’s court, having jurisdiction over the person of the Purchaser, in terms of Section 28 of the Magistrate’s Court Act No. 32 of 1944, notwithstanding the fact that the claim of the value of the matter in dispute might exceed the jurisdiction of such magistrate’s Court, and
    • The Seller shall be entitled to claim payment of the legal costs from the Purchaser on an attorney and client basis, and
    • The Purchaser shall be deemed to have selected and appointed as his domicilium citandi et executandi the address inserted by him / her on the buyer’s card/s signed by him / her.
    • A certificate issued under the hand of the Auctioneer setting forth the amount of the Purchaser’s liability arising from and out of any sale by the Auctioneer shall constitute conclusive proof of such indebtedness by the Purchaser and shall further constitute a liquid document for the purpose of provisional sentence, summary judgment or otherwise.
  • The Purchaser, should he / she sign the conditions and / or be the successful bidder on any lot/s in a representative capacity, hereby binds himself as surety and co-principal debtor for all the obligations of the concern that he represents.
  • Where a vehicle / truck / motor cycle / plant is purchased, the onus is upon the Buyer to check the engine, chassis numbers and the year or registration against the transfer document, before removingthe vehicle, etc from the sale yard. Once a vehicle, etc., has been removed, no queries in this regard will be entertained.

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