Terms and Conditions for Buyers
1. General Terms
1.1. These Terms and Conditions (“Terms”) apply to all sales conducted by MBO Auctioneers (“the Auctioneer”) and form a binding agreement between the Auctioneer and the Buyer (“the Purchaser”).
1.2. These conditions are subject to the Rules of Auction and comply with Section 45 of the Consumer Protection Act, Act 68 of 2008 (the “CPA”), as well as the Regulations relating to auctions referred to therein.
1.3. By participating in the auction, the Purchaser agrees to be bound by these Terms. It is the Purchaser’s responsibility to read and understand these Terms before bidding.
2. Registration
2.1. All prospective buyers must register prior to bidding by providing the following:
a) Individual Buyers: A copy of the buyer’s ID, proof of residency, and payment of a refundable deposit are required to obtain a buyer’s card.
b) Company Buyers: In addition to the deposit payment via EFT, company buyers must provide copies of company documents (e.g., company registration certificate), and an ID copy of the director(s).
2.2. It is advisable to register on the viewing day to ensure sufficient time for verification and bidding.
2.3. A buyer’s card will be issued once the required documents and deposit are provided.
2.4. The Auctioneer reserves the right to refuse registration or participation in the auction at their discretion.
2.5. MBO Auctioneers is not responsible for transporting buyers or their purchased goods to any location of interest.
3. Bidding Process
3.1. A bidder making the highest accepted bid for a lot shall become the Purchaser immediately after the lot has been knocked down to them, subject to confirmation where applicable.
3.2. Only the Auctioneer is authorised to declare a lot as “sold.” No other declarations are valid.
3.3. The auction is subject to the right that bids may be accepted from the Seller, the Auctioneer, or a representative of either.
3.4. The Auctioneer reserves the right to regulate the bidding and act as the arbitrator of any disputes.
3.5. In the event of any dispute, the Auctioneer has the right to settle it at his sole discretion by restarting the bidding from the last undisputed bid or any other method deemed fair. The Auctioneer may withdraw any lot or re-sell it if necessary.
3.6. The Auctioneer is authorised to bid on behalf of the Seller to ensure that the reserve price is met.
3.7. No party shall have a claim for damages of any nature if the Auctioneer settles a dispute.
3.8. The Auctioneer’s decision is final and binding on all buyers.
3.9. A bid cannot be withdrawn after the fall of the hammer, except where confirmation of receipt of the deposit is not provided timeously, in which case the Auctioneer may disregard the bid.
4. Facilitation Fee (Vehicles Only)
4.1. A facilitation fee is charged for all vehicle purchases. This fee applies in addition to the buyer’s premium and must be settled with the invoice.
4.2. The facilitation fee is non-refundable and payable within the same payment timeframe as the invoice.
5. Buyer’s Premium
5.1. A buyer’s premium of [percentage]% will be added to the final bid price and is payable by the Purchaser. VAT applies where applicable.
5.2. The total purchase price includes the hammer price, buyer’s premium, facilitation fee (if applicable), and VAT.
6. Payment
6.1. Full payment must be made within 48 hours of the auction by EFT or another method specified by the Auctioneer.
6.2. If payment is not made within the stipulated time, the Auctioneer reserves the right to resell the goods, and the Purchaser may be held liable for any shortfall or losses.
6.3. No goods will be released until full payment, including buyer’s premium, facilitation fee (if applicable), and VAT, has been received.
7. Collection and Delivery
7.1. The Purchaser must arrange collection of the purchased items within 2 days from the date of the auction.
7.2. Failure to collect the goods within the stipulated timeframe will result in storage fees being charged at the Auctioneer’s discretion.
7.3. All lots are sold “as is” with no duty on the Auctioneer or Seller to repair any items.
7.4. The risk in the goods passes to the Purchaser upon the fall of the hammer. The Auctioneer or Seller is not responsible for damage or loss after the auction.
7.5. The Purchaser shall remove the goods at their own risk and cost. If goods are not collected within 2 days, storage fees may apply.
8. Condition of Goods
8.1. The Purchaser acknowledges that goods may have significant wear and tear or defects and are sold “voetstoots” (as is). The Auctioneer and Seller make no warranties regarding the condition or functionality of the goods.
8.2. The Purchaser acknowledges that goods may be used and may contain latent defects. Neither the Seller nor the Auctioneer is liable for any such defects.
8.3. If the lot is a motor vehicle, it is sold as per the year of first registration, according to the certificate of registration. Any errors by the Auctioneer are not binding and do not entitle the Purchaser to any compensation.
8.4. The Purchaser acknowledges that neither the Auctioneer nor the Seller is responsible for any mispronunciation or spelling errors made during the auction.
9. Disputes and Auctioneer’s Role
9.1. The Auctioneer’s vendu roll of sale is final and binding on all Purchasers.
9.2. Should the Purchaser fail to comply with these conditions, the Auctioneer may, without prejudice, claim damages, resell the goods, or retain any deposit as rouwkoop.
9.3. Neither the Seller nor the Purchaser have any right or claim against the Auctioneer for any loss or damage related to the auction, including any negligence by the Auctioneer.
10. Ownership and Risk
10.1. Ownership of the goods remains with the Seller until full payment is made. Risk passes to the Purchaser upon the fall of the hammer.
10.2. The Purchaser may not take delivery until all amounts due have been paid in full.
11. Legal and Default
11.1. In the event of legal proceedings, the Auctioneer may institute action in its own name.
11.2. The Purchaser agrees to pay all legal costs on an attorney-and-client scale, including tracing fees and collection commissions.
11.3. The Purchaser consents to the jurisdiction of the Magistrate’s Court for any legal proceedings, although the Auctioneer may elect to pursue action in the High Court.
12. General
12.1. The above Terms and Conditions constitute the agreement between MBO Auctioneers and the Purchaser. No variation or waiver will be valid unless in writing and signed by both parties.
12.2. These conditions are binding on all bidders, whether or not they have read or heard the Terms prior to bidding.
12.3. All goods are sold exclusive of VAT, unless otherwise stated.