AUCTION PROCEDURE AND CONDITIONS
- The auction will begin at the advertised time – SHARP and will not be delayed.
- All lots will have a reserve price unless otherwise stated
- Buyers and Sellers shall acquaint themselves to the Conditions of the auction, prior to registration
- The auction window for each particular auction will be advertised
- The Auctioneer reserves the right to reject any bid whether or not it is the highest subject to the Auction Rules and Conditions
- If the Auctioneer has reason to believe that a bidder is unable to pay the balance of the purchase price, the Auctioneer may refuse to accept such a bid or may accept it provisionally until such time as the bidder has provided within the requisite time, sufficient evidence to the contrary
- If no bids are received which equal or exceed the stated reserve price, the items may be withdrawn from the auction
- No extension of time will be given.
- If the Auctioneer makes any bona fide error in the advertising,conducting or conclusion of a sale, he is entitled to rectify such mistake and such mistake shall not be binding on the Auctioneer. If such a mistake is unable to be corrected then the auction of the said lot shall be null and void and no party will have any claim against the Auctioneer or the Seller
All Buyers will be required to complete an online registration form which will include but not be limited to;
Private / Company
Omang / ID
All Buyers wishing to partake in an online auction will be required to pay a refundable deposit PRIOR to the auction, the amount of which will be advised accordingly
BANK FIRST NATIONAL BANK – BOTSWANA BRANCH BRAODHURST INDUSTRAIL, Orchid Centre, Kubu Rd, GABORONE ACCOUNT NAME AUCTIONEERS BOTSWANA BRANCH CODE 281 267 ACCOUNT NO. 617 39 000 357 SWIFT FIRNBWG
- If a buyer is unsuccessful in the bidding, the deposit paid will be refunded in full upon instruction
- If a buyer is the highest bidder on a particular auction, the deposit will go towards payment of the invoice
- The buyer shall acquaint himself with the item he wishes to purchase at the auction, during the advertised viewing period or by appointment
- All items are sold “voetstoots” without any warranty expressed or implied. Neither the Seller nor the Auctioneer shall be liable for any defects whether latent or patent and the risk and benefit of each lot passes from the Seller to the Buyer upon the fall of the hammer. (keys / registration books)
- Ownership of lots passes to the Buyer upon full payment to the auctioneer
- Full payment to be made within the stipulated time frame. Any successful bidder who fails to make full payment will forfeit the deposit paid and those lots not paid for will be re-auctioned at a date to be decided upon by the auctioneer.
- All Lots sold and paid for in full are to be removed from the premises with in the stipulated time frame, as directed by Auctioneers Botswana. Only once the sale has been completed may the Buyers remove their purchases. All costs for collection and removal of lots purchased, are for the account of the Buyer.
- Neither the Auctioneer nor the Seller will be held responsible for the safety of the official receipt of purchase.
- Ownership of lots, not removed within the stipulated time frame will revert back to the Seller without any compensation to the Buyer.
- All lots will be sold in BOTSWANA PULA, unless indicated
- Payments must be made via EFT or Bank Guaranteed Cheque. Cash deposits are accepted but must be made directly into the bank account of Auctioneers Deposit and the deposit slip to be presented to the Auctioneer as proof of payment. Cash deposits and cross boarder payments will attract bank charges which is passed on to the buyer.
- An administration fee and or handling fee will be applicable to certain lots but buyers will be advised prior to auction, where these fees are applicable.
- The purchaser shall pay the Auctioneers commission (to be advised for each auction), calculated on the Purchase Price PLUS currently 12% (twelve percent) VAT thereon.
- Unless the purchaser can provide documentary proof to the Auctioneer that the Government of the Republic of Botswana has exempted the Purchaser from paying the prescribed, currently 12% VAT the said percentage of tax shall be added to the purchase price.
- All costs incurred for Customs Clearance at the boarders shall be for the Buyers account
- The purchaser has a period of 14 (fourteen days) to change ownership of all motor vehicles and yellow metal. The seller shall provide the necessary change of ownership letter to the purchaser upon full payment
- The Buyer and Seller hereto consent to the jurisdiction of the Courts of the Republic of Botswana in respect of any lawsuit arising from this agreement. This agreement shall be governed by and construed and interpreted in accordance with the Laws of the Republic of Botswana