CONDITION OF SALE

  1. The highest accepted bidder (subject to the seller’s reserve price, if any), will normally be declared the buyer.

 

  1. The auctioneer reserves the right to determine the manner in which the auction is conducted, 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, in his sole and unfettered discretion without giving any reasons and reserves the right to inter alia not accept the highest bid or any bid in respect of the article or lot auctioned.

 

  1. The conditions of sale are strictly by EFT to be paid to the auctioneers at the scene of the auction at the end of the auction. The auctioneer reserves the right to accept or refuse any method or means of payment in its sole discretion.

 

  1. Any bona fide mistake made by the auctioneer during the auction will bind neither the auctioneer nor the seller. If any difference of opinion occurs between two or more bidders, the article or lot in dispute may be re-auctioned and sold at the sole discretion of the auctioneer.  In the event any article or lot is re-auctioned in the discretion of the auctioneer, neither the original bidder(s), nor the owner will have any claim against the auctioneer.

 

  1. As the auctioneers are merely agents, they are not, despite having advertised a guarantee or description, responsible for any mistake, guarantee or 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.

 

  1. The seller warrants that he / she / it is the legal owner of all articles or lots on the auction and is legally entitled to sell them. The seller further warrants that all articles or lots being auctioned are free from any encumbrances.

 

  1. The seller agrees that the auctioneer shall be entitled, but not obliged to, collect the purchase price from the buyer(s) and the seller hereby cedes, assigns and makes over all rights, title and interest, on an out and out basis, in and to its claim for payment of the purchase price against the purchaser to the auctioneer, who accepts such cession and assignment.

 

  1. A bid shall be taken as proof that the bidder / purchaser has fully acquainted him- or herself with the terms and conditions of sale and / or the rules of the auction and the bidder / purchaser having fully acquainted him- or herself with the article or lot on which he or she bids.

 

  1. 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.

 

  1. 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 auctioneer’s decision will be final and binding.  The buyer may not withhold any payments from the auctioneers due to grievances or disputes regarding the seller.

 

  1. 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 the satisfaction of the auctioneer 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.

 

  1. All accounts not paid on the day of the auction will, be subject to mora interest on the outstanding amount at 20% per annum. notwithstanding the fact that the right of ownership of the sold lot remains with the seller.  A statement signed by any manager of the auctioneer, whose designation need not be proven, shall be prima facie proof of any outstanding amount.

 

  1. The buyer agrees in terms of Section 45 of the Magistrates Courts Act [32 of 1944] that all legal proceedings arising from this agreement may be instituted in the Magistrate’s Court in Windhoek which, in terms of Section 28(1) of the abovementioned Act, has jurisdiction over the seller with the understanding that this condition does not restrict the auctioneer’s rights to institute proceedings in the High Court of Namibia.

 

  1. If the auctioneers, by exercising their absolute discretion, hand over any buyer’s account to their attorneys, all legal costs on an attorney and own client scale, together with any tracing fees or collection fees shall  be debited to the account of the buyer, together with the interest as mentioned above.

 

  1. 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.

 

  1. All entries made in the auctioneer’s book at or after the fall of the hammer will be sufficient proof of the transaction as noted, and will be final and binding on the buyer and seller.

 

  1. 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.

 

  1. 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.

 

  1. In the event that any one allows another person to bid on his / her / its number / card, the registered bidder will be liable for full payment.