Auctions Rules

Wayne’s Auctions Rules

The Auctioneer acts in all respects only as an agent for and on behalf of the seller
A R500.00 buyer’s deposit is required to obtain a buyer’s number
10% Buyer’s commission will be charged on the knockdown price
All goods are sold without guarantee
No person shall retract his bid once it has been made
The Auctioneer may bid on behalf of a prospective buyer
The Auctioneer shall accept no responsibility should the buyer utilize the Auctioneer’s staff for loading purposes.
Upon acceptance of the buyer’s bid, the goods are at the buyer’s risk and are to be loaded and removed at the buyer’s expense and risk
All lots purchased are to be paid for immediately after the auction and removed by no later than 16h00 on the Tuesday after the auction or a storage fee will be charged.
Any person on the Auctioneer’s premises at the sale venue before, during or after a sale is there at his/her own risk, and he/she shall have no claim against the Auctioneer in respect of any damage he may sustain through any cause whatsoever.

CONDITIONS OF ACCEPTANCE OF GOODS

Acceptance of any goods by Wayne’s Auctions (herein referred to as the Auctioneer), shall be subject to these conditions:

1. DEFINITIONS
The seller shall be the person whose name appears on the receipt, or his authorized agent.

2. AGENCY
The Auctioneer acts as agent of the seller onlyand is not responsible for any default whatsoever by either buyer or seller.

3. AUCTION CHARGES
The seller authorises the Auctioneer to deduct commission and other relevant expenses at the prevailing rates from the knockdown price, prior to payment by the Auctioneer to the seller. A minimum charge of R50.00 per receipt is applicable.
Items with reserves on a receipt and left on the premises after having been auctioned on 3 auctions, will incur storage /handling charges in accordance with the Auctioneer’s prevailing rates. On notification of the charges by the Auctioneer to the seller, the seller is then liable for these charges.

4. AUCTIONEER’S OBLIGATIONS
The Auctioneer undertakes to offer for auction every item as described on the receipt and to endeavour to obtain the best possible price.
The seller authorises the Auctioneer to offer an item or items on separate auction sales and venues, which in the sole opinion of the Auctioneer would be most beneficial to the sale of the item or items.
The Auctioneer reserves the right to sell any item, whether such an item be with or without reserve, subject to confirmation by the seller.
The Auctioneer reserves the right to sell by private treaty any item which has been previously offered for auction, at a price which in its opinion is fair and reasonable and without referring to the seller.
The Auctioneer undertakes that the items submitted for auction shall be handled and cared for to the best of its ability. The Auctioneer shall not be liable for damage or loss to the items from any cause whatsoever, whether arising from the negligent or intentional act or omission of the Auctioneer or its employees or any sub-contractors employed by him.
All items and in particular, valuables such as jewellery, silver, paintings and photographic equipment shall, when submitted for sale, be specifically itemised on a receipt and if conveyed by the Auctioneer or it’s sub-contractors, be properly packed by the seller, at his cost.

5. SELLER’S UNDERTAKING
In the event of the seller withdrawing any item on a receipt prior to an auction the seller may be liable to reimburse the auctioneer any costs incurred including loss of commission. No removal of items will be permitted if such items have been marketed for auction.
The seller authorises the Auctioneer to sell the items listed on a receipt in terms of such conditions as it, in its sole discretion, elects to impose. The seller acknowledges that these conditions shall be substantially in accordance with the Auctioneer’s standard conditions of auction, which the seller further acknowledges are available for his scrutiny at the Auctioneer’s premises.
The seller of electrical, mechanical or dangerous items described on a receipt, warrants that from the date thereof the same are safe if reasonably used for the purpose for which they were designed and free of any defect which could prove dangerous to human life or health. The seller will indemnify the Auctioneer against any loss or damage suffered or incurred by the Auctioneer of any of its employees, sub-contractors, directors and agents in consequence of any breach of this warranty and any undertakings by the seller in terms of theses Conditions of Acceptance of Goods.
At the absolute and sole discretion of the Auctioneer, the seller agrees that any item received for auction, without reserve, where the estimated proceeds from the sale do not cover the cost incurred may be destroyed or disposed of by the Auctioneer.
The seller warrants to the Auctioneer and to the buyer, that the items on a receipt are what they are represented to be.
The seller warrants that he is the true owner of the listed items, and that he is able to transfer good and marketable title to the items free of any third party claims.
The seller indemnifies the Auctioneer against any claim of whatsoever nature arising from the sale of items that are subject to an instalment sale/pledge, lien or lease agreement, or any other encumbrances of whatsoever nature. In the event of negligent or fraudulent misrepresentation by the seller to either the Auctioneer or buyer, the Auctioneer shall be entitled to cancel the relevant sale without notice to the seller, and refund the purchase price in respect thereof to the buyer, and claim reasonable damages from the seller.

6. RISK AND INSURANCE
Risk in any item listed on this receipt shall remain that of the seller.
Insurance is the responsibility of the seller, and the Auctioneer shall have no obligation to insure items described hereon.

7. PAYMENT
Within a reasonable period after all the items have been sold the Auctioneer shall account to the seller in respect of the amount due to the seller.
The Auctioneer shall not be obliged to pay the seller until it has received full and proper payment from the buyer.
All payments shall be made by the Auctioneer by cash or bank transfer as per instructions on reverse.
The Auctioneer will assume no responsibility for any payment credited to the wrong account.
Bank charges incurred by the Auctioneer, for your specific transaction, will be for the account of the seller.

8. RESERVE PRICE
Any item submitted for sale with a reserve price shall only be accepted if such a reserve price is clearly stated on a receipt.
A reserve price is binding on the parties for a period of 21 days from the date of receipt.
After the expiry of the 21 day period the Auctioneer shall be entitle without notice to the seller to sell the item by auction or private treaty at a price, which the Auctioneer in its sole discretion decides, is the fair market value of the item.
The Auctioneer may use its sole discretion to bid on behalf of the seller.
Where a reserve has been placed, only the Auctioneer may bid on behalf of the seller.
It is the responsibly of the seller to ascertain from the buyer whether the reserve price has been obtained.

9. GENERAL
The Auctioneer reserves the right to appoint sub-contractors to store, handle or transport any of the items at the seller’s risk and expense.
The Auctioneer reserves the right to split the items when auctioning, and these split items will be reflected on the credit note.
The seller authorises the Auctioneer to sell the items at any auction venue, which the Auctioneer in its sole discretion so chooses.