1.1. The Buyer
The highest bidder acknowledged as such by the Auctioneer will be the Buyer. If any dispute arises, the Auctioneer shall have sole discretion to settle the matter. The Auctioneer shall rule the bidding and no bid may be retracted. The Auctioneer reserves the right to refuse any bid. The Buyer who is successful in purchasing any Lot or Lots is entirely responsible for paying for such Lot or Lots in accordance with these Conditions. Purchases made on behalf of a third party are the responsibility of the Buyer in the room. The Auctioneer reserves the right to bid on behalf of the Seller for any Lot and to withdraw, consolidate or divide any Lot or Lots. The Buyer acknowledges that Andre Nel Auctioneers may also receive commission from the Seller in accordance with the Seller’s Conditions.
1.2. Buyer’s Premium
A Buyer’s Premium of 17.5% is payable on each Lot every auction.
1.3. Payment
Payment is due immediately from the Buyer after the auction and not later than 48 Hours after the auction. Payment must be paid in South African Rands.
The following methods of payment may be used:
-debit and credit cards (attracts a 2.5% fee)
-cash deposit (attracts a 1.5% fee)
-cash
-Bank transfer
Payments not made within 48 hours of the auction will accrue a storage and handling fee of R100.00 per lot per day which will have to be settled with the invoiced amount before the lots can be collected.
1.4. Transfer of Risk
The risk in the Lot shall pass to the Buyer upon the completion of the Sale by the Auctioneer. Andre Nel Auctioneers are not responsible for the correct description, genuineness or authenticity of any Lot as per these Conditions. The Buyer is deemed to have inspected each Lot and satisfied himself as to its condition.
1.5. Ownership of the Lot
Title to the Lot(s) purchased will not pass to the Buyer until the Buyer has paid Andre Nel Auctioneers in full the total amount due pursuant to these conditions and Andre Nel Auctioneers have applied such payment to the Lot.
1.6. Storage and Collection
Storage charges will be levied on all lots not collected within seven days of the Sale. This will include a storage charge of R100.00 per Lot per day.