AUCTION GUIDE
Maritzburg Auctioneers has been servicing the Community with our Auctioneering Services for the past 67 years. We have a large buyer following be it our regular buyer or first time visitors to our Auction.
The public can find bidding on an auction to be a bit daunting but with help from our Friendly staff and management this can easily be resolved and soon the customer warms up to the auction gaggle.
Below are some brief guides to make you the Buyer or the Seller more comfortable about using our Auctioneering Services.
HOW TO BUY
A
VIEWING the Showroom floor prior to the Auction is highly recommended, the selection of items on the floor constantly change and both Saturday and Wednesday Auctions have something for everybody.
B
CONDITIONS OF AUCTION pertaining to the BUYER are displayed at the Auction and are Signed by the buyer at registration. These are simple and straightforward but need to be acknowledged to make the process a lot smoother.
C
REGISTRATION AND DEPOSIT are your next steps in which you (as a buyer) will complete a buyers card with your details, pay a REFUNDABLE DEPOSIT (according to terms and conditions) and receive a buyers card and number for that auction. Your BUYERS NUMBER must be kept with you and presented to the Auctioneer if you are the successful buyer.
D
As with viewing, select your goods you wish to BID on very carefully. All goods are sold voetstoets (as is). Items are LOT NUMBERED and are sold in lot order and this will be indicated on the day immediately prior to being sold.
E
Some items that are on Auction may Attract RESERVE PRICES or OEV (Owners Estimated Value) and if that figure is not reached on the Auction the highest bid on that particular lot will be submitted to the owner as a “SUBJECT TO CONFIRMATION ” bid. The Seller/Owner then has to let the Auctioneer know if they will accept that offer.
F
COMMISSION BIDS or Absentee bids are entertained. These are when the prospective buyer is unable to attend the Auction and has asked the Auctioneer to bid on their behalf. Normal registration procedures apply and bids are then placed on our Commission bid file for that particular buyer. Please ask our Staff to explain further if you would like to leave a Commission Bid.
G
All items sold on Auction attract a BUYERS COMMISSION. This is displayed on our Showroom floor. If we are selling on behalf of a VAT Vendor those items may attract VAT but this is not commonly encountered. VAT however is charged on our buyer’s commission.
H
Goods must be PAID FOR IN FULL immediately after the Auction and removed within 24 hours, thereafter attracting storage and handling fees. Once you have completed your purchases on the Auction you proceed to the office and pay for your goods. Trained Porters to assist the LOADING & TRANSPORT from the Auction can be arranged.
HOW TO SELL
A
CONDITIONS OF ACCEPTANCE are applicable when we receive your goods to SELL. We become your Agents and to avoid any dispute, conditions of Sale and Auction are there for your and our protection.
B
ACCEPTANCE OF ITEMS is selective although most items do have a re-sale value on the Auction and our staff can advise on what we do or do not accept.
C
Our resident Valuers can give your rough VALUES & ESTIMATES on items. You may place a reserve price on your particular item. This can be arranged with the Staff member and the Auctioneer. With a reserve price, your item will be sold subject to confirmation if the item is sold less than the reserve .This offer will be submitted to the Seller and they will advise us weather they accept or not. In the Norm, the first offer is usually the best offer. If the offer is not accepted we may try auction it one further time and thereafter instruct the seller to remove the item or either lower or remove the reserve price. Hereafter if not removed it may attract handling and storage charges.
D
We VALUE, PACK & COLLECT items for the Auction. This is done for a nominal fee and is debited against the goods sold.
E
SELLER’S COMMISSION is charged on all items sold by us. Please contact our offices for further information.
F
PAYMENT is for your SOLD ITEMS is a smooth quick procedure. We range from a 2 day pay out period to a 7 day pay out period. Please contact our offices for further information.
G
Although all goods are sold Voetstoets, in terms of Machinery or Electrical items we do sometimes sell items subject to them working. This will be announced by the Auctioneer prior to selling the particular item this pertains to. This benefits both the Seller and the Buyer as we feel we as the agent would like to be FAIR TO BOTH PARTIES.