CREATIVE RIDES COLLECTABLE CAR AUCTIONS
COMPANY REGISTRATION NO. 2021/128516/07
SHOP 2, POSTHOUSE CENTRE, CNR POSTHOUSE & MAIN STREET, BRYANSTON

 

TERMS AND CONDITIONS

1. A Buyer may only bid on an item for auction if the Buyer is in possession of a Buyers number provided by Creative Rides Collectable Car Auctions (hereinafter referred to as the Auction House) or is registered electronically on the digital bidding platform.

2. Use of the Bidders number is limited to the person whose name is registered with the Auction House for the purpose of bidding on the auction.

3. A bid shall be made by any industry acceptable manner to the Auctioneer or their representative and the Auctioneer shall recognise such bid by verbal acknowledgement. An electronic bid shall be made via the electronic bid platform and must contain the Bidder’s number, name and amount. The Auctioneer will verbally acknowledge receipt of an electronic bid.

4. For the sake of certainty and clarity, the entire auction will be digitally recorded.

5. If your bid is accepted, the accepted bid price includes VAT but excludes the Buyer’s commission of 12.5% plus VAT on such commission which shall be payable in addition to the bid price.

6. All vehicles are available for inspection and the Bidder is deemed to have had reasonable opportunity to inspect and satisfy themselves as to the nature and condition of the motor vehicle including its authencity, year of manufacture and any modifications and to inspect all documentation relative to the vehicle.

7. All items are sold voetstoots and no warranties are given whether expressed, implied or residual, other than those imposed by statute.

8. The Auction House has taken all reasonable steps to ascertain the correct particulars of a motor vehicle and no warranty is given in respect of the nature or origin of the vehicle and whether the vehicle is complete and in running condition.

9. Some lots are subject to reserve prices and the decision of the Auctioneer shall be final and binding as to whether a bid is acceptable or not.

10. No bid may be made unless the Bidder has paid the registration deposit and provided their FICA docs to the Auction House. The registration deposit is refundable should the Bidder not make a successful bid.

11. In the event that the Bidder makes a successful bid, the registration deposit will be allocated against the first bid amount of the Bidder confirmed by the Auction House.

12. If the Bidder is bidding on behalf of a legal entity, a resolution from that legal entity and the full description and registration details of the legal entity must be lodged with the Auction House. A failure to do this means that the bidder shall be deemed to be bidding in their personal capacity and will be personally responsible for payment of the purchase price and commission.

13. No person may bid on the auction unless they are a minimum of 18 years old and have full legal capacity to contract.

14. Payment may be made electronically to the Auction House trust account the details of which are as follows:____________________.

CONSUMER PROTECTION ACT

15. The rules of this auction comply with Section 45 of the Consumer Protection Act.

16. When goods are put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be the subject of a separate transaction.

17. The Bidder acknowledges that in terms of Regulation 28 of the Consumer Protection Act, the consumer has had a reasonable amount of time and opportunity to inspect the goods, prior to the auction, either physically, or pursuant to the applicable pandemic laws electronically prior to the auction. This includes the inspection of colour photographs and recorded visual materials, reviewable by electronic means.

18. The Bidder acknowledges that they have had access to the information required in Regulation 32 of the Consumer Protection Act.

19. The Auction House has the information as required by Regulation 32 in its possession and this will be made available to a Bidder on request.

20. The Bidder acknowledges that the auction will take place either partly or in full as an internet or an electronic auction and that the internet or electronic portion of the auction does comply with Regulation 30 of the Consumer Protection Act Regulations, in that:

20.1 the relevant platform is available to everyone over the age of 18 years,

20.2 there are industry level standards of security for electronic transactions; and

20.3 the platform used provides easy access for all records as prescribed in the Consumer Protection Act Regulations.

21. The Bidder acknowledges that the Auctioneer and the Auction House have taken all reasonable steps to verify information supplied by the owner of the motor vehicle and the onus is on the purchaser to conduct their own enquiries to ascertain that that information is correct.

22. The Auctioneer and Auction House will use the year and model of a vehicle as per the eNATIS documentation.

23. The Buyer agrees to comply with any and all requirements to register and roadworthy the vehicle and to undertake any repairs necessary to make the vehicle roadworthy and registrable. The Buyer will be responsible to effect any repairs to make the vehicle roadworthy and to register vehicle into the Buyer’s name.

24. The purchaser shall be bound by all announcements made by the Auctioneer at the commencement of and during the sale.

25. The auction will commence on the stipulated time and at a stipulated place. The auction will not be delayed to enable a specific person or entity to participate in the auction.

26. No warranties or guarantees are given or implied in respect of a motor vehicle other than these imposed by operation of statute.

27. Creative Rides Auctions cannot be held responsible for any errors or description of, or the roadworthiness of a motor vehicle.

28. The Auctioneer or Auction House cannot confirm the condition of engines regarding start and running and working condition due to the age and condition of the vehicles.

29. Vehicles purchased and sold must be collected from the Auction House within 7 (seven) normal days after the auction.

30. All vehicles not collected within 7 (seven) days will incur a storage fee of R350.00 per vehicle per day.

KNOW YOUR RIGHTS

31. The Auctioneer and the Auction House comply with and will adhere to the South African Institute of Auctioneers Code of Conduct.

32. A copy of this Code of Conduct is available at:

https://www.auctioneering.co.za/uploads/documents/saiacodeofconduct.pdf

33. These terms and conditions are the full terms and conditions of the auction and may not be varied or amended unless agreed to in writing by the Auction House.

34. There are no warranties or representations other than those contained in these conditions and statutory documents relating to specific vehicles.

AUCTION RULES

1. Place, date and time of the auction – Jhb at Montecasino on the 2nd of July 2022 at 11h00

2. These auction rules are compliant with the cap no. 68 of 2008 and its regulations.

THE AUCTION HOUSE CONFIRM AS FOLLOWS.

1. Each and every lot unless confirmed otherwise is to be a separate transaction.

2. Until the fall of the hammer and until the auctioneer says sold a bid may be retracted.

3. This auction is both unreserved and reserved and attracts a 5 day stc period in favor of the seller.

4. Unless the auction house says otherwise, creative rides and the auctioneer are allowed to bid up to the reserve price but not exceeding it.

5. The buyers commission has been set at 12.5% plus vat and is payable above the bid price, unless stated otherwise.

6. You cannot bid without your bidder documents (FICA) being submitted to the auction house.

7. Each and every bidder must sign the auction rules, terms and conditions.

8. The auction house operates with its trust account which is audited accordingly.

9. The reason for this auction is due to being instructed from various deceased estates, heirs, executors, museums & private collectors.

10. All bidders are obligated to register pre-auction, pay the registration fee (which is refundable should you not be the highest bidder on any lot), read the rules of auction and comply with all FICA laws i.e. Proof of id and proof of residence.

11. Costs of auction are r1 543 431.00

12. This auction is subject to and under control of the auctioneer who has the sole right to regulate the bidding and/or reject a bid without giving reasons therefor.

13. This auction shall be on the rise and there assets sold shall be sold to the highest bidder, subject to these rules of auction.