Am I allowed to bid on auction if I am not at the auction?
Can I get finance for assets I bought on auction?
How much do I need to deposit into your bank account for the refundable registration deposit?
Will you give me the deposit back if I do not buy anything?
How will I know when the next auction is?
When can I collect the assets I bought?
Who has got the natis documents and how will I get them?
Can I buy even if I live in another country?
Do you sell on any other day other than the auction day?
Do you sell with reserve prices?
Can you help me load the assets that I bought?
At Devco, we recognise that not everybody is a seasoned auction buyer, and offer a support network to assist everyone.
We have engineered a number of unique products aimed at reducing the pressure that auction attendees often experience. Our revolutionary auction method usually utilises an auctioneer with supporting groundsmen. A groundsman’s job is to assist you, the auction attendee to understand where the current bid is and what the next bid should be.
By working one on one with buyers on the ground, we can offer unparalleled and immediate support. Limited warrantees on certain vehicles and a number of other products give buyers a peace of mind that is unheard of in the auction arena. On the floor finance support also allows our customers to obtain information regarding the eligibility for finance before ever placing a bid. To all our auction attendees, we also have the following suggestions:
- Familiarise yourself with all the lots on the auction before deciding what you want.
- Once you have familiarised yourself with the lots that you are interested in, examine them more carefully. Make sure that you have a good look at what you are buying.
- Please be sure to read all the terms and conditions on the buyers catalogue, as well as the signage posted around the auction areas. The auctioneer will also make an announcement before the start of the auction.
- When buying fixed property, always be sure to discuss the property with the agent and get a copy of the fact sheet that will give you all the necessary insight to make an effective buying decision.
- Be sure to understand the registration deposit and terms of payment for each auction you attend.
- Don’t wait for the last opportunity to bid, you might lose out. Make sure the auctioneer or a groundsman can see you and acknowledge your bid.
- Once knocked down to you, items cannot be cancelled.
- When there is more than one quantity available of the same item, the bid price is per item.
- No assets can be removed during an auction.
- No sales are subject to you, the buyer getting finance, you must make sure that you have your finance in place before placing a bid.
- Only bid for yourself.
- Bidding prices do not include 14% VAT, a buyers premium or any registration paper processing fee.
- Please be sure to read the conditions of the sale. Whether a fixed property, or a movable asset, there are a number of conditions under which you bid.
- At any time during the auction you can pay for your purchases.
- Buyers of properties will be requested to give a deposit immediately on the fall of hammer. Payment terms will be in the conditions of sale.
- Once you have finished bidding you can go to the auction registration office to collect your proforma invoice. The team at the registration office will ask you to wait a few minutes so that they can capture the last vendu roll page that comes from the auction floor.
- Once you have received your invoice you will be required to make payment. This can be done in any of the following ways:
- Bank guaranteed cheque.
- Bank cheque
- Electronic transfer– we have accounts with First National Bank and Standard bank. The banking details will be on the buyers catalogue.
PLEASE NOTE: CASH WILL NOT BE ACCEPTED ON SITE. You can deposit the cash into our bank account however you will also need to add 2% for the cash deposit fee. Once the funds are reflecting in our bank account we will issue a tax invoice. If you are financing your asset/s we will require a letter of credit or a 10% deposit of the total invoice amount at the conclusion of the sale. Bank finance deals need to be paid within 48 hours of the purchase.
- A paid invoice and receipt are required to collect your items.
- Bring your paid invoice with you and hand it to one of our staff members who will assist you.
- Please bring your own staff to load the assets.
- Our security will check the release of the assets.
- When collecting vehicles, please remember to complete a change of ownership form and get your vehicle papers.
- Please remember that once knocked down to you, legally an item lies there at your risk. Make sure that you have appropriate insurance if necessary and that you effect payment and collection as soon as possible.
For any further assistance please contact our office on +27 12 345 4345.