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Frequently Asked Questions
What is an auction?
It is a public sale where assets are sold.
What items are sold at an auction?
Any items can be sold on auction including moveable and non-moveable items.
What are the various types of auctions?
Onsite Auction, Online (Timed Auctions) & Live Online Auctions
What does Venditor Auctioneers Sell?
We specialise in the sale of all assets: From movable to immovable.
Are there terms and conditions of an auction?
Yes. The terms and conditions of an auction are referred to as the Rules of the Auction. These rules can be found as an attachment to each auction publicised and are available for download on our website. The Rules of the Auction are also provided on the day of auction, with any special rules being announced prior to the start of the auction.
What are FICA documents?
FICA documents are your Proof of Identity and most recent Proof of Residence.
What is a bidder’s number?
A bidder number is a number that is given to a registered bidder for use at an auction. The bidder number is used by the auctioneer during the auction in order to identify you, as well as by the auction administration department when processing refunds, invoices and payments.
What is a registration fee?
The registration fee is a compulsory charge that applies to all auctions; it is determined by the seller and varies per auction. Upfront payment of the registration fee is required by anyone wishing to participate in the bidding process.
How does an auction start?
Items for sale in an auction are arranged into lots. The auction begins when a starting bid for a lot has been determined by the bidders, with guidance from the auctioneer.
What is bidding?
Bidding is the process in which you register or show your interest in purchasing the item currently on auction. This is done by raising your hand or paddle in order to gain the attention of the auctioneer. Bidding takes place in increments as determined and facilitated by the auctioneer through constant verbal cues until the items is sold.
What is a starting bid?
A starting bid is the minimum amount that a bidder is willing to pay for an item. It is typically used to start the auction off at a point that is deemed to be reasonable for the associated item. A starting price is established at the auction and is announced to the bidders.
What is a reserve price?
A reserve price is the minimum amount that the seller of the asset is willing to accept for the item. That is to say, any price fetched that is below this reserve amount will result in the item being unsold. Any offer received on auction, is subject to the acceptance from the seller unless otherwise stated.
How is the selling price of an item on auction determined?
The bidders determine the price at which an item is sold. Bidding for an item will begin at the starting bid with increments as determined by the auctioneer. The bidders will then register their bids by getting the attention of the auctioneer until the highest bid has been reached. The highest bid is therefore the selling price of the item.
What is an online auction?
An online auction is a conventional auction that takes place on an internet-based platform, for a pre-determined period of time.
What is the difference between an online and a Timed Online auction?
An online auction is hosted by an Auctioneer in real Time and a Timed Online Auction is hosted only on the internet and it stays open for a particular period of time.
How do I view items on an online or timed online auction?
Items are photographed, catalogued and arranged into lots. Each lot will have a number, description and a starting bid associated to it. Even though the auction is online, you will still be given the opportunity to view the items onsite, one or two days prior to the auction.
How do I register for an online/timed online auction?
An account must be created in order to register for an online/timed online auction. To open an account simply visit our website (http://www.venditoronline.co.za/) or download the Venditor App from the Apple App Store or Google Play Store.
What if I don’t have a computer?
Our site is compatible with tablets and mobile devices so a computer is not required to participate in an online auction.
Can I get assistance with registration and bidding?
Yes. Just call our office for assistance: (012) 403 – 8360
What are the benefits of online auctions for buyers?
The main benefits of an online auction for buyers, is that one can bid from the comfort of their home or office. Online auctions usually run for three to five days. The longer running period accommodates buyers who would otherwise not be able to participate if the auction were run in a day, as is typical of live auctions.v
What are the benefits of online auctions for sellers?
The main benefit of the online auctions is that they are cost-effective. This is due to the fact that assets in multiple locations can be auctioned all at once, without the cost to uplift the assets to a single auction site.
How does an online auction start?
An online auction is deemed to have begun when a timer that is linked to a pre-determined closing time activates and participants are able to place bids.
How does an online auction end?
An online auction will end when a timer that is linked to a pre-determined closing time reaches zero and participants are no longer able to place a bid.
What is the difference between the trade and retail value of a vehicle?
The trade value of a vehicle is defined as the value or amount of money that can reasonably be expected should one trade their vehicle in at a dealership The retail value of a vehicle is defined as the value or amount of money that a dealer can sell a car for.
Can I test drive a vehicle prior to the auction?
Viewing of a vehicle does not extend to test drives. The Rule of Auction provide more information on the condition of the viewings, as in some cases, you are permitted to sit in the vehicle and start the engine.
Can I purchase a vehicle before an auction?
No, vehicles that are advertised for auction can only be purchased at the auction. Any vehicles that remain unsold after the auction will be advertised for sale at a later date.
Can I bid on multiple vehicles?
Yes, you may bid on multiple vehicles. Keep in mind, that you have to pay for all the vehicles you bid for. If you bid on 5 vehicles, and only want 1 vehicle, your invoice will be cancelled and you will forfeit your registration fee paid, as rouwkoop.
What is a vehicle document fee?
A vehicle fee is an administrative levy that is exclusive of the purchase price. Vehicle documentation fees vary from auction to auction and will be stipulated on the rules of the auction.
How can I ensure I don’t overspend my budget?
Calculate what bid price you can afford by deducting our fees from your budget, so you don’t overspend. It is also advised to take into consideration the other costs you might have for instance (in the case of a vehicle) road worth and towing cost if applicable.
Does VAT apply to all vehicle auctions?
Yes. Where the seller is registered for VAT, VAT will be payable by the buyer over and above the purchase price.
Can an invoice be amended if I no longer want to buy my car, but I have a third party to buy?
The purchase of a vehicle that has been sold to a bidder is legally binding. It is for this reason that an invoice may not be amended, even if a buyer has found someone else to purchase the vehicle on their behalf. This means that the payment can be made directly to Venditor Auctioneers by the third party, however, the invoice and registration documentation will remain in the name of the person who bought the vehicle at the auction, until amended by the parties involved after after the vehicle has been collected.
How do I register a vehicle in my name?
After receiving the Original Registration Certificate, together with a completed Notification of Change of Ownership (NCO) and a copy of the Sellers Identity Document, the buyer visits a local licensing department with their Identity Document. The buyer also needs to complete a Change of Ownership from, which can be obtained from the licensing department.
How long does it take for a vehicle to be registered in my name?
Once all the necessary documents (see – how do I register a vehicle in my name) are provided to the licensing department, this process should only take a couple hours.
What are the different codes used for vehicles sold on auction?
Code 1 – Brand new; Code 2 – Used; Code 3 – Rebuilt; Code 4 – Breaker (car must be broken up and used for spare parts)
What is meant by the term “runner”?
If the vehicle is sold as a runner, it doesn’t necessarily mean that it can be driven off the auction site. Our staff may have had to jumpstart the vehicle, and in some case, bridge the ignition if no key is available. In these circumstances, it is the buyer’s responsibility to then bring the necessary equipment to start the vehicle so that it can be driven away.
What is meant by the term ‘non-runner’?
Vehicles sold as a non-runner would have to be collected by the buyer with a Break-Down Recovery Vehicle.
Are there benefits to sell properties on auction?
Yes. Some of the benefits include: a quicker turnaround time; Commission is paid by the buyers and the seller doesn’t have to outlay any cash at the time of the auction. The seller can agree terms and conditions prior to the auction and set a reserve price; Qualified buyers compete against each other creating competition; Properties marketed to a wider buyer market than normal selling channels offer.
How do I register for an auction?
Registration begins with a bidders registration form that can be downloaded off of the Venditor Auctioneers website (https://www.venditor.co.za). This for must be completed, submitted with your FICA documents and proof of payment of the registration fee.
Is my registration guaranteed?
No, registration is subject to approval and may be declined if blacklisted. Successful registration will result in the issuing of a bidder number that is used on the day of the auction. Unsuccessful registration will result in the refund of your registration fee.
Can I inspect the items/property before the auction?
Yes, it is recommended to view the items / property prior to auction.
What happens to my registration fee after the auction if I have not purchased anything?
The registration fee is fully refundable to anyone who does not purchase anything at the auction. A refund can be requested after the auction by filling out a Refund Request Form at our mobile office. Refunds are processed within 24 hours and typically reflect in your account within two to three working days, depending on which financial institution you bank with.
What happens to my registration fee after the auction if I have bought something?
Your registration fee is deducted from the amount owed by you in terms of the conditions of sale.
Can a registration fee be forfeited?
Yes, the registration fee will be forfeited by any person who purchase an item on auction and fails to make full payment of the purchase price.
Do I have to register for an auction in order to attend?
No. You only have to register for an auction if you want to participate in the bidding. We encourage anyone new to the auction process to attend an auction as an observer first. This allows one to get a feel for the auction process and allay any fears.
How do I view all the auction items?
Action items, or lots, are photographed and uploaded into our Venditor Auctioneers website. However, in instances where they are not, viewing is held on the premises where the auction will take place. Viewing usually takes place one to two days before the auction.
How do I know if I am the winning bidder at an auction?
The auctioneer will call out your allocated bidder number and announce you as the successful bidder for that particular lot. The auctioneer will also confirm and document the amount at which you purchased the item.
How do I pay for my items?
The preferred method of payment is an EFT (Electronic Funds Transfer). We unfortunately do not accept credit or debit card payments.
Can I pay in cash for my items?
Cash deposits can be made directly into our account. However, it should be noted that cash deposit fees will apply. For security reasons, no cash payments will be accepted on the premises.
Can I pay for my items before the auction has ended?
Yes, the auction doesn’t have to come to an end before payments can be made. You may approach our onsite staff at one of our mobile offices and they will assist in generating an invoice for any purchase made.
How can I take part in the bidding process at an auction?
You have to register before the auction by means of paying a security deposit (refundable if you are not the highest bidder) and also provide your ID as well as proof of residence. The auctioneer will ask you to complete a bidder’s registration card and you must also complete the bidder’s registration at the registration desk.
Are there any additional charges that apply to an auction?
Yes, additional charges such as admin fees, document fees, VAT and auctioneer’s commission may apply to items purchased at an auction. All applicable charges are stipulated in the Rules of Auction and made available on the Venditor Auctioneers website (www.venditor.co.za) prior to the auction taking place.
Can I take part in the bidding process without registering for the auction?
No. The auctioneer is not allowed to take bids from anyone who hasn’t followed and complied with the registration process.
Why is it necessary to pay a registration fee?
A security deposit is required to protect the auction and bidding process as well as the potential bidders to ensure that everyone attending an auction complies with the terms and conditions of the auction and not simply chase the bid up.
Can I buy on auction and make my offer subject to bond approval?
Auction sales are non-suspensive. If you bid on an auction you must be sure that you will be able to get finance and comply with the terms and condition without any suspensive conditions.
What if I don’t live close to the auction and cannot make the auction?
We recommend that all prospective buyers attend the auction events, but in cases where this is not possible, we have a facility available where buyers could participate via proxy (where someone else bids on the buyer’s behalf) or via telephone. Our sales executives could assist you through this process.
Why does my registration still show pending?
Your registration once submitted will be reviewed and if all information submitted is correct, then we will approve your registration. However, if all your documents required are not uploaded your registration status will continue showing :pending” status.
Can someone assist me with uploading my documents?
Yes, should you be unable to upload your document required you are welcome to call us and we will assist you with this process.
Why have I not received a welcome email with my bidders number?
Once your registration has been approved an email is automatically sent to you in order for you to verify your email address. If not received, please remember to check your spam or trash folder as you will not be able to complete your registration until you have confirmed your email address.
General
Online Auctions
Vehicle Auctions
Sellers
Buyers
Technical Issues
What is an auction?
It is a public sale where assets are sold.
What items are sold at an auction?
Any items can be sold on auction including moveable and non-moveable items.
What are the various types of auctions?
Onsite Auction, Online (Timed Auctions) & Live Online Auctions
What does Venditor Auctioneers Sell?
We specialise in the sale of all assets: From movable to immovable.
Are there terms and conditions of an auction?
Yes. The terms and conditions of an auction are referred to as the Rules of the Auction. These rules can be found as an attachment to each auction publicised and are available for download on our website. The Rules of the Auction are also provided on the day of auction, with any special rules being announced prior to the start of the auction.
What are FICA documents?
FICA documents are your Proof of Identity and most recent Proof of Residence.
What is a bidder’s number?
A bidder number is a number that is given to a registered bidder for use at an auction. The bidder number is used by the auctioneer during the auction in order to identify you, as well as by the auction administration department when processing refunds, invoices and payments.
What is a registration fee?
The registration fee is a compulsory charge that applies to all auctions; it is determined by the seller and varies per auction. Upfront payment of the registration fee is required by anyone wishing to participate in the bidding process.
How does an auction start?
Items for sale in an auction are arranged into lots. The auction begins when a starting bid for a lot has been determined by the bidders, with guidance from the auctioneer.
What is bidding?
Bidding is the process in which you register or show your interest in purchasing the item currently on auction. This is done by raising your hand or paddle in order to gain the attention of the auctioneer. Bidding takes place in increments as determined and facilitated by the auctioneer through constant verbal cues until the items is sold.
What is a starting bid?
A starting bid is the minimum amount that a bidder is willing to pay for an item. It is typically used to start the auction off at a point that is deemed to be reasonable for the associated item. A starting price is established at the auction and is announced to the bidders.
What is a reserve price?
A reserve price is the minimum amount that the seller of the asset is willing to accept for the item. That is to say, any price fetched that is below this reserve amount will result in the item being unsold. Any offer received on auction, is subject to the acceptance from the seller unless otherwise stated.
How is the selling price of an item on auction determined?
The bidders determine the price at which an item is sold. Bidding for an item will begin at the starting bid with increments as determined by the auctioneer. The bidders will then register their bids by getting the attention of the auctioneer until the highest bid has been reached. The highest bid is therefore the selling price of the item.