Auction Procedure » Buyers

Q: Before you bid

A:

1. Have you registered as a buyer?

2. Did you take your bidding number?

3. Make sure you have a deposit.

4. Make sure you have the commission plus 14% VAT over and avobe the purchase price (the persentage in commission differs from 6% - 7.5%).

5. Take note that there is a confirmation period.

6. You will be liable to pay transfer fees and or VAT.

7. Do not hesitate to ask questions or advice.

8. Remember you are legally bound by your bid!

Q: How to bid

A:

1. Register as a bidder. This is compulsory in order to bid.

2. Address all queries, questions and request for advice before the commencement of the auctions. Please feel free to ask Vans representatives and the auctioneer on duty.

3. Lift your hand or buyers card in the air to bid.

4. Make eye contact with the auctioneer for him / her to acknowledge your bid.

5. Call out your bid if necessary and attract the auctionee's or his/her on-the-floor assistants attention.

6. Remove yourself from the bidding by shaking your head "no" or saying "no" if the auctioneer turns your way.

7. Remember, you are legally bound by by your bid!

Q: What not to do on an auction

A:

1. Bid if you have no money to purchase or have not made proper financial arrangements to purchase.

2. Bid if you are not registered as a bidder.

3. Bid if you are not fully acquainted with or do not understand all the conditions of sale.

4. Be intimidated by other bidders as they may be trying to put you off bidding.

5. Be shy to ask questions.

6. Hesitate or procrastinate when bidding because you may lose the deal.

7. Lose your bidders card. If you do, report it immediately.




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