HAMMER & TONGUES AUCTIONEERS
CONDITIONS OF SALE – TIMED ONLINE AUCTION
A. SALE INFORMATION
Assets for Sale – See Lot Descriptions for Assets as per Online Auction Information
Closing Date – See Online Auction Information
Currency – Zimbabwean Local Currency(ZWL)
Purchaser Levy – 10% or as specified on individual items, on all payments
Sale Taxes:
VAT Rate on Hammer Price – 14.5% or as specified on individual items. There will be no VAT on Zimbabwean registered second hand vehicles. An Excise Duty will be charged by ZIMRA on change of ownership. In the case of Insurance Salvages or a sale on behalf of a a third party, ZIMRA may charge the purchaser double Excise Duty. For outstanding vehicle licence fees, ZIMRA may charge the purchaser any outstanding vehicle licence fees up to the point of sale of the vehicle.
VAT Rate on Purchaser Levy – 14.5% payable on the purchaser’s levy
VAT Rate on Charges – 14.5% or as specified on individual items
Viewing Days – Strictly by appointment only, see Online Auction Information for assets location
B. CONDITIONS OF SALE
ONLINE BIDDING, INSPECTION, CONDITION OF GOODS AND WARRANTIES, CANCELLATION, PAYMENTS, REMOVAL AND STORAGE
By registering to participate for the Timed Online Auction, the online bidder is deemed to have accepted the Auctioneers’ Conditions of Sale as being binding on them in respect of the online auction and any sale of assets pursuant to such online auction. The online auction will commence at the published time, as per the Online Auction Information, and it will not be delayed enabling any specific person or more persons in general to take part in the online auction.
NB : If there are bids for a lot within 5 minutes of auction closing time, the system will automatically extend the auction by 5 minutes until all the bids are exhausted
1. In respect of any lots, the highest accepted bidder shall be the purchaser of any such lots, in all cases at the discretion of the Auctioneers.
2. The Auctioneers’ sale records are in all cases final. The Auctioneers will be the sole arbitrators in the event of any dispute. In the event of any dispute as to the identity of the successful purchaser, the Auctioneers may re-auction the lot(s) concerned, declare the successful purchaser or remove the item from auction.
3. The Auctioneers reserve the right to accept or decline any bid/ offer, withdraw any lot from the auction and to determine the progression of the bidding.
4. The Auctioneers reserve the right to accept or decline any online bid/offer, withdraw any lot from the sale and to determine the progression of the bidding.
5. Where lots are sold Subject to Confirmation (STC) the highest bid will be subject to acceptance by the seller, and the purchaser will be notified of the success of their bid within a reasonable time.
6. All vehicles/equipment sold are deemed to have been examined by the purchaser(s) and are sold “voetstoots” or “as seen” and without any warranty.
- Unless otherwise stated the assets are sold in the condition they are in (as is and as seen by the purchaser), and the purchaser purchases the lots in accordance therewith. The Auctioneers shall not be liable for any condition or state of any of the lots of which the Auctioneers are unaware. It is the responsibility of the purchaser to view/ inspect all lots they intend to bid on before participating in the auction. Neither the sellers of the lots nor the Auctioneers give any warranties or guarantees or make any representations regarding the condition or state of any of the lots, save for when applicable.
- The purchaser acknowledges that they have inspected the lots before online bidding, noted the condition and state thereof, and is satisfied with the lots as well as the description thereof.
- The Auctioneers make every effort to accurately catalogue items to the best of their knowledge however the Auctioneers are not responsible for any errors. Where any branding still appears on a lot, the seller reserves the right to remove such branding prior to collection.
- Descriptions, whether verbal or written, supplied by The Auctioneers are intended as a guide only.
- Not all assets for sale may be located at the Auctioneers premises. It is therefore the responsibility of the purchaser to confirm the location of each lot they intend to bid for online. The Auctioneers will not be liable for online bidders who do not know a lot’s location.
12. Purchasers are required to lodge a security deposit as prescribed by The Auctioneers, in United States Dollars cash prior to registration, which amount will NOT be refundable should the purchaser default in any way.
13. Successful online bids and invoices cannot be cancelled and purchasers defaulting on payments on in any other way will forfeit the security deposit. Full payment including all Auctioneers charges and applicable taxes must be made within 24 hours after the end of the online auction, failing which a 10% surcharge will be added to the invoice, or deposit will be forfeited, or both, at the discretion of the Auctioneers.
14. Responsibility for all vehicles/equipment and goods, and the safekeeping thereof, passes to the Purchaser at the close of the online auction, at which point a successful bid is declared by the Auctioneers. Risk in and to the lots shall pass to the purchaser at this point and as applicable it is imperative that the purchaser insures all purchases immediately. The purchaser shall only be entitled to take delivery of the lots once full payment of the purchase price, VAT, purchaser’s levy and VAT thereon, plus any additional costs and fees as communicated prior to the sale is made to the satisfaction of the Auctioneers.
15. All online sales will be conducted in United States Dollars.
- The terms are strictly United States Dollars cash, British Pound cash, or South African Rand Cash and the exchange rate between the currencies will be determined at the sole discretion of the Auctioneers. Ownership of vehicles/equipment will only pass to the purchaser once the vehicles/equipment and goods are paid for to the satisfaction of the Auctioneers.
- While every effort is made, prior to the sale, by the Auctioneers to establish and ensure the validity of ownership of vehicles/equipment, the Auctioneers do not accept responsibility for vehicles/equipment and goods found to have been falsely entered for sale or any other encumbrances.
- A PURCHASER’S LEVY of 10% on all payments by cash, and VAT, at the applicable rate, will be payable on the gross purchase price, including the Purchaser’s Levy.
- The purchaser understands and accepts that their online bids are exclusive of VAT, purchaser’s levy plus VAT thereon and any additional costs and fees as communicated prior to the sale.
20. Removal of vehicles/equipment and goods prior to payment, as stated per condition 16, will be deemed as theft, and The Auctioneers will act accordingly.
21. Registered bidders participating by online auction must be aware that the Auctioneers cannot accommodate for slow or lost internet connections or the variable delay between bids placed online reflecting on the auction system. Furthermore the Auctioneers cannot guarantee uptime on the auction system. Should it occur that an online bid reflects after the Auctioneers knock down to a purchaser, the late online bid will be invalid. Consequently online bidders must bid early.
22. Online bidders can place pre-bids/ max offers prior to auction commencing which the online auction administrator calls on behalf of the online bidder in bidding increments up to the maximum/ pre-bid amount.
23. The purchaser shall be bound by all additional Terms and Suspensive Conditions as may be applied by the Auctioneers. After the Auctioneers knock down to a purchaser for lots purchased, a sale for the lots shall be finally and irrevocably concluded, subject only to any Suspensive Conditions that may be applicable to the lots. The online bidder’s bids are therefore final and binding on every item purchased once the Auctioneers knock down to a purchaser.
24. No assets may be removed by the Auctioneers during the online auction. The purchaser shall remove paid for lots within 48 hours of purchase or the period announced by the Auctioneers or written on the auction catalogue or stipulated on the Auctioneers site, failing which the purchaser shall be liable to pay the Auctioneers daily storage fees of 1% of the value of the item(s) not collected, with a minimum fee of US$8.73 plus 14.5% VAT per day per item which will be levied, as will any additional storage fees. No lots will be released until the full invoice price of such removal cost has been paid. Dispatch is completed on a first come first served basis.
25. It is the responsibility of the purchaser to make certain that they comply with any health, safety, security or procedural requirements be they statutory or of the Auctioneers or the seller.
26. The Auctioneers will not be responsible for any damages to property caused during removal or the releasing of assets purchased via online auction. It is the purchaser’s responsibility to make right any damages to property even if the purchaser has nominated to use a third party company to remove assets.
27. On collection, the purchaser is solely responsible for removal of items, which collection will take place only after full payment for all dues by purchaser have been made to the satisfaction of the Auctioneers. The purchaser is responsible for obtaining a Buyer Tax Invoice after payment which invoice must be presented to the Auctioneers on-site personnel when removing items.
28. The Auctioneers do not supply any assistance with loading or removal whether in the form of labour or lifting equipment, and purchasers must bring their own staff and equipment.