Auction Guide

At Aucor, we recognise that not everybody is a seasoned auction buyer, and offer a support network to assist with almost everyone. We have engineered a number of unique products aimed at reducing the pressure that auction attendees often experience.

As examples, our revolutionary auction method usually utilises an auctioneer with supporting groundsman. A groundsman’s job is to assist you, the auction attendee, to understand where the current bid is, and what the next bid should be. By working one-on-one with buyers on the ground, we can offer an unparalleled and immediate support. Limited warrantees on certain vehicles and a number of other products we give buyers a peace of mind that is unheard of in the auction arena.

On the floor finance support also allows our customers to obtain information regarding the eligibility for finance before ever placing a bid.

To all of our auction attendees, we also have the following suggestions:

THE AUCTION

Familiarise yourself with all the lots on the auction before deciding what you want. Often, there are more than one lot available. Once you have familiarized yourself with the lots that you are interested in, examine them more carefully. Make sure that you have a good look at what you are buying. Please be sure to read all the terms and conditions in the catalogue, as well as the signage posted around the auction areas. The auctioneer may also make some announcements before the start of the auction. When buying fixed property, always be sure to discuss the property with the agent and get a copy of our ‘fact sheet’ that will give you all the insight necessary to make an effective buying decision. Be sure to understand the deposit and terms of payment for each auction you attend.

BIDDING



Don’t wait for the last opportunity to bid, you might lose out. Make sure the auctioneer or a groundsman see you and acknowledges your bid.
Once knocked down to you, items cannot be cancelled.
When there are multiples of the same items, they are bid on and purchased per item.
No purchases can be removed during the auction.
No sales are subject to you, the buyer, getting finance; you must have the money available.
Only bid for yourself.
Bidding prices do not include VAT, buyers premium or any paper processing fee.
Please be sure to read the conditions of sale. Whether a fixed property, or a moveable asset, there are a number of conditions under which you bid.


CHARGES



There is usually a buyer’s premium charged. This is a percentage of the purchase price which may vary. Please check the premium at the registration office or on the front of your catalogue.

Registered vehicles carry a fee of R1500.00 (ex VAT) per unit for the processing of the registration documents.

Unless otherwise stated, VAT is payable on the knockdown price as well as the buyer’s premium and paper fee.

PAYMENT



At any time during the auction you can pay for your purchases.

Buyers of properties will be requested to give a deposit immediately. Payment terms will be set in the conditions of sale.

In order to confirm that you have not bought anything that has not been tracked, the team at the registration office will usually ask you to wait a few minutes to confirm with the latest auction sheets that are regularly sent to them from the auction floor.

The registration office will give you the amount you have purchased for and then you need to pay. This can be done in any of the following ways:

Bank guaranteed cheque.
Bank cheque.
Electronic transfer - we have accounts with Nedbank, FNB, Absa and Standard bank. We will give you our banking details for the bank with which you bank. The transfer will then happen immediately.
Cash - we do not accept cash on site. You will need to go to the nearest bank and pay the money plus 1% into our bank account. Once we have proof of the deposit you will get your invoice.
Bank finance - we require a letter of credit or a 10% deposit to make up an invoice to the bank. Bank finance needs to be paid within 48hrs of purchase.


COLLECTION



A paid invoice and receipt are required to collect your items.

Bring your paid invoice with you and hand it to one of our staff who will assist you.

Please bring your staff to load your trucks.

Our security will check the delivery of the goods.

When collecting vehicles, please remember to fill in a change of ownership form and get your vehicle papers.

Please remember that once knocked down to you, legally an item lies there at your risk. Make sure that you have appropriate insurance if necessary and that you effect payment and collection as soon as possible.

If you need to find out more about how Aucor’s Auctions work, don’t hesitate to contact our call centre who will be able to answer your questions or get you the answers you need.