Frequently asked questions

What is vehicle documentation fees?

This is an administration fee levied additional to the purchase price and varies between R1,500.00 and R2,500.00 per registrable vehicle, depending on the type of auction. The vehicle documentation fees on this auction amounts to R2,000.00 (incl. VAT).

How will my final invoice be calculated?

Your bid price (hammer price) + buyerโ€™s commission + vehicle documentation fees + VAT = final invoice amount.

Do I have to pay VAT?

Yes, VAT is payable and is not negotiable.

Do you arrange finance?

Aucor does not arrange finance.You can, however, arrange finance by making contact with Auction Finance at www.auctionfinance.co.za alternatively, contact Celeste Steenberg on 082ย 374 5078. Finance should be arranged prior to the auction.

What does trade and retail value mean?

Trade: Is the value you can trade your vehicle in for at a dealership;

Retail: The retail value is basically the amount it would cost to replace your car.
ย ย  ย  ย  ย  ย  ย  ย Is the average value the dealer can sell your car for.

How much is the deposit and how is it payable?

The deposit varies between R5,000.00 (loose assets), R10,000.00 (vehicles) and R20,000.00 (mining & commercial) and is payable upon registration.ย  The deposit for this auction amounts to R10,000.00.

The deposit is payable by EFT, bank, and bank guaranteed cheque or cash deposit into our bank account. (Kindly note: Cash deposits carry a deposit fee which is for your account).

Is the deposit refundable and, if so, when will it be refunded?

The deposit is refundable if no purchases were made. When paying by credit/debit card it is reversed the same day but can take up to 10 working days to reflect in your account.If you are paying by bank or bank guaranteed cheque we will return the cheque to you. Internet transfers (EFTโ€™s) are usually refunded electronically the day after the auction. Banking details need to be supplied by clients before leaving the premises (preferably in writing).

Can I purchase a vehicle before the auction?

No, the vehicles are sold exclusively on auction.

No vehicles are sold prior to the auction.

What is a reserve price?

This is the mandate price provided by the seller for which the auctioneer is allowed to sell the asset.Any auction offer below this reserve price needs to be confirmed by the seller. Reserve prices are confidential and are not communicated to prospective purchasers as assets may be sold below these reserves in some instances.

What is a specific vehicleโ€™s reserve price?

Reserve prices are confidential and are not communicated to prospective purchasers as assets may be sold below these reserves in some instances.

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