The highest accepted bidder (subject to the seller’s reserve price, if any), will be the buyer.
The auctioneer reserves the right to refuse the bid of any person, to regulate the bidding, to determine the last bidder and to change the order of sale from time to time without giving any reasons.
The conditions of sale are strictly cash or a bank guaranteed cheque to be handed to the auctioneers at the scene of the auction at the end of the auction.
Any bona fide mistake made by the auctioneer during the auction will bind neither the auctioneer nor the seller, but will be corrected at once. If any difference of opinion occurs between two or more bidders, the article or lot in dispute will be re-auctioned and sold at the discretion of the auctioneer.
As the auctioneers are merely agents, they are not, despite having advertised a guarantee or description, responsible for any mistake, guarantee of visible shortcoming or incorrect description, inaccuracy of age or otherwise. The buyer will in the event of any difference of opinion be able to claim from the seller only, as the auctioneers do not accept any responsibility of any kind.
The auctioneers will not be held responsible for any damage by or to any lot while it is under their control or that of their employees. No undertaking by the auctioneers or their employees to look after any lots or articles before or after the sale, or to transfer them to some other place will entail any responsibility or render any of these conditions null and void.
Every lot will, immediately after the bid has been knocked down, be considered to be delivered to the buyer and will thereafter be at the risk of the buyer.
The right of ownership of anything which is bought, purchased will only be transferred to the buyer after the purchase price has been paid and no article which is sold may be removed or taken away until the purchase price has been paid or arrangements have been made to pay the purchase price. On default, the auctioneer will have the right to resell the article or stock, at the risk of the defaulting buyer, who will meet all costs incurred with regard to the resale and any losses suffered. The defaulting buyer will not have any claim to any benefit which may result from the resale from date of sale to date of payment.
All accounts not paid on the day of the auction will, notwithstanding the fact that the right of ownership of the sold lot remains with the seller, due to the non –payment of the purchase price, accumulates interest at the prevailing bank rate plus 5% from date of sale to date of payment.
If the auctioneers, by exercising their absolute discretion, hand over any buyer’s account to their lawyers for collection, collection fees of 10% on any money collected or paid against the buyer’s account will be debited to the account of the buyer, together with the interest already mentioned in Sub. Art. 9.
It is an explicit condition of sale that all livestock , lots, articles or objects offered for sale are sold subject to all mistakes, shortcomings or diseases (visible or invisible) – as they stand (voetstoots) – and as soon as the bid is knocked down, it will be considered as accepted by the buyer with all mistakes, shortcomings or diseases.
Al entries made in the auctioneer’s book will be sufficient proof of the transaction as noted, and will be final and binding on the buyer and seller.
If a buyers buys stock or goods on behalf of another person, partnerships, company or any other legal entity, he must make this fact known to the auctioneer and signed the “buyer’s Invoice” on behalf of his principal in such a way that his name and that of his principal may be clearly determined from the invoice. If this condition is not met, the buyer will be personally responsible to the auctioneer and binds himself as guarantor and joint main debtor for the proper fulfillment of all obligations of his principal with regard to the auctioneers.
Every buyer must submit his complete physical and postal address to the auctioneer. If he buys on behalf of another person, partnership, company or any other legal entity, he must also submit the complete name and address of such principal and on enquiry, submit sufficient proof of his authorization/power of attorney, depending on the case, to the auctioneers.
If the seller allows the buyer an extension of terms to pay, this done at the seller’s risk and does not prejudice the auctioneer’s rights with regard to these conditions of sale or the buyer’s agreement.