Question 1

What is the difference between the trade and retail value of a vehicle?

Accepted Answer

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.

Question 2

Can I purchase a vehicle before an auction?

Accepted Answer

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.

Question 3

What is a vehicle document fee?

Accepted Answer

A vehicle document fee is an administrative levy that is exclusive of the purchase price. Vehicle document fees vary from auction to auction and will be stipulated on the rules of the auction.

Question 4

Does vat apply to all vehicle auctions?

Accepted Answer

No, all bank repossessed auctions are subject to VAT, as the entities that are involved (the auction house and the bank) are VAT vendors. Government garage vehicles are not subject to VAT, although there will be a VAT amount payable on the portion of the invoice that applies to the auctioneer’s commission.No, all bank repossessed auctions are subject to VAT, as the entities that are involved (the auction house and the bank) are VAT vendors. Government garage vehicles are not subject to VAT, although there will be a VAT amount payable on the portion of the invoice that applies to the auctioneer’s commission.

Question 5

Can an invoice be amended if i no longer want to buy my car, but i have found a third party to buy?"

Accepted Answer

The purchase of a vehicle that has been sold to the 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 payment can be made directly to Amandla 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 the vehicle has been collected.

Question 6

How do I register a vehicle in my name?

Accepted Answer

After receiving the Original Registration Certificate, together with a completed Notification of Change of Ownership (NCO) and a copy of the Sellers’s Identity Document, the buyer visits a local licensing department with their Identity Document. The buyer also needs to complete a Change of Ownership form, which can be obtained from the licensing department.

Question 7

How long does it take for a vehicle to be registered in my name?

Accepted Answer

Once all the necessary documents, as mentioned above, are provided to the licensing department, this process should take a couple of hours.

Question 8

What are the different codes for vehicles sold on auction?

Accepted Answer

Code 1 – Brand New
Code 2 – Used
Code 3 – Rebuild
Code 4 – Breaker (car must be broken up and used for spare parts)

Question 9

What is meant by the term "non-runner”"

Accepted Answer

Vehicles sold as non-runners would have to be collected by the buyer with a Break-Down Recovery Vehicle.

Question 10

What is an online auction?

Accepted Answer

An online auction is a conventional auction that takes place on an internet-based platform, for a pre-determined period of time. Auction software is used to monitor activity, regulate bids and close each lot sequentially.

Question 11

How do I view items on an online auction?

Accepted Answer

Items are photographed, catalogued, and arranged into lots. Each lot will have a number, description, and a starting bid associated with it. Even though the auction is online, you will still be given the opportunity to view the items on site, one or two days prior to the auction.

Question 12

How do I register for an online auction?

Accepted Answer

An account must be created in order to register for an online auction. To open an account, simply visit our website (www.auctionamandla.com)

Question 13

What are the benefits of online auctions for buyers?

Accepted Answer

The main benefit of an online auction for buyers is that one can bid from the comfort of their home or office. Online auctions usually run for 2 – 8 hours, depending on the amounts of lots that need to be sold.

Question 14

What are the benefits of online auctions for sellers?

Accepted Answer

The main benefit of online auctions for sellers is that they are cost-effective. This is due to the fact that assets in multiple locations can be auctioned all at once, without incurring the cost to uplift the assets to a single auction site.

Question 15

How does an online auction start?

Accepted Answer

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 bid.

Question 16

How do I know if I am the winning bidder at an online auction?

Accepted Answer

An email notification detailing all successfully purchased lots is sent out. This notification will often include the invoice of the item or items purchased.

Question 17

What is an auction?

Accepted Answer

An auction is a public sale, where assets are sold to the highest bidder.

Question 18

What items are sold at an auction?

Accepted Answer

Any item can be sold at an auction; from coins, antiques, cars, property and heavy machinery.
Amandla auctioneers specialises in vehicle, earthmoving equipment, residential and commercial real estate auctions.

Question 19

Where can i find the terms and conditions of an auction?

Accepted Answer

The terms and conditions of an auction are referred to as the rules of auction. These rules can be found as an attachment to each auction publicized and are on our website. The rules of auction are also provided on the day of the auction, with any special rules being announced prior to the start of the auction.

Question 20

How do i register for an auction?

Accepted Answer

How do i register for an auction?

Question 21

What are FICA documents?

Accepted Answer

FICA documents are your proof of identification and proof of residence. Click on the documents tab to download the fica requirements.

Question 22

What is a bidder number?

Accepted Answer

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.

Question 23

What is a registration fee?

Accepted Answer

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.

Question 24

What happens to my registration fee after the auction if I have not purchased anything?

Accepted Answer

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.

Question 25

What happens to my registration fee after the auction if I have bought something?

Accepted Answer

Those who have purchased an item at the auction can either opt for the amount to be refunded or deducted from the purchase price of the item subject to the specific auction T&C’s.

Question 26

Can a registration fee be forfeited?

Accepted Answer

Yes, the registration fee will be forfeited by any person who purchases an item on auction and fails to make full payment of the purchase price.

Question 27

Do I have to register for an auction in order to attend?

Accepted Answer

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.

Question 28

How do I view all the auction items?

Accepted Answer

Auction items, or lots, are photographed and uploaded onto the Amandla 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 or two days before the auction.

Question 29

Can I test drive a vehicle prior to the auction?

Accepted Answer

Viewing of a vehicle does not extend to test drives. The Rules of Auction provide more information on the conditions of the viewings, as in some cases, you are permitted to sit in the vehicle and start the engine.

Question 30

How does an auction start?

Accepted Answer

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.

Question 31

What is a starting bid?

Accepted Answer

A starting bid is a 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.
For example – a VW Polo Vivo would have a starting bid of R20 000 or R30 000 and not that of R200 or R300.

Question 32

What is bidding?

Accepted Answer

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 item is sold.
For example – the next bid for a VW Polo Vivo with a starting bid of R20 000 could be determined as R22 000. The auctioneer will ask, “do I have R22 000?” This means, is there anyone willing to pay R22 000 for the item. A bidder who is willing to pay R22 000 will then raise his or her hand. The auctioneer will acknowledge the bidder and say, “I have R22 000”.

Question 33

What is a reserve price?

Accepted Answer

A reserve price is a 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. A reserve price is determined prior to the auction and is not disclosed to the bidders.
For example – a VW Polo Vivo could have a reserve price of R80 000. If the bidding stops at R75 000 then the item will be regarded as being unsold. If the bidding stops at R85 000 then the item will be regarded as being sold.

Question 34

What is the meaning of s.t.c. (subject to confirmation)

Accepted Answer

This purely states that the closing bidder, whether the reserve has been met or not, is seem as the final offer and the seller has the right to accept the offer which is presented to him/her.

Question 35

How is the selling price of an item on auction determined?

Accepted Answer

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.

Question 36

How do I know if I am the winning bidder at an auction?

Accepted Answer

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.

Question 37

How does an auction end?

Accepted Answer

An auction ends when the last lot as reflected on the auction catalogue has been sold. Alternatively, the auctioneer can announce the close of an auction at any point during the bidding process for whatsoever reason.

Question 38

Are there any additional charges that apply to an auction?

Accepted Answer

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 Amandla website (www.auctionamandla.com) prior to the auction taking place.

Question 39

How do I pay for my items?

Accepted Answer

The preferred method of payment is that of an Electronic Funds Transfer (EFT). We unfortunately do not accept credit or debit cards for payment.

Question 40

Can I pay in cash for my items?

Accepted Answer

Cash deposits can be made directly into our account. However, it should be noted that cash deposit fees will apply. No cash payments will be accepted on the premises.

Question 41

Can I pay for my items before the auction has ended?

Accepted Answer

Yes, the auction does not 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 Do Auctions Work?

Frequently Asked Questions, about Auctions

How Do Auctions Work

HOW DO AUCTIONS WORK?

What is the difference between the trade and retail value of a vehicle?

Can I purchase a vehicle before an auction?

What is a vehicle document fee?

Does vat apply to all vehicle auctions?

Can an invoice be amended if i no longer want to buy my car, but i have found a third party to buy?"

How do I register a vehicle in my name?

How long does it take for a vehicle to be registered in my name?

What are the different codes for vehicles sold on auction?

What is meant by the term "non-runner”"

What is an online auction?

How do I view items on an online auction?

How do I register for an online auction?

What are the benefits of online auctions for buyers?

What are the benefits of online auctions for sellers?

How does an online auction start?

How do I know if I am the winning bidder at an online auction?

What is an auction?

What items are sold at an auction?

Where can i find the terms and conditions of an auction?

How do i register for an auction?

What are FICA documents?

What is a bidder number?

What is a registration fee?

What happens to my registration fee after the auction if I have not purchased anything?

What happens to my registration fee after the auction if I have bought something?

Can a registration fee be forfeited?

Do I have to register for an auction in order to attend?

How do I view all the auction items?

Can I test drive a vehicle prior to the auction?

How does an auction start?

What is a starting bid?

What is bidding?

What is a reserve price?

What is the meaning of s.t.c. (subject to confirmation)

How is the selling price of an item on auction determined?

How do I know if I am the winning bidder at an auction?

How does an auction end?

Are there any additional charges that apply to an auction?

How do I pay for my items?

Can I pay in cash for my items?

Can I pay for my items before the auction has ended?

What Is An Online Auction

What is an online auction?

What is the difference between the trade and retail value of a vehicle?

Can I purchase a vehicle before an auction?

What is a vehicle document fee?

Does vat apply to all vehicle auctions?

Can an invoice be amended if i no longer want to buy my car, but i have found a third party to buy?"

How do I register a vehicle in my name?

How long does it take for a vehicle to be registered in my name?

What are the different codes for vehicles sold on auction?

What is meant by the term "non-runner”"

What is an online auction?

How do I view items on an online auction?

How do I register for an online auction?

What are the benefits of online auctions for buyers?

What are the benefits of online auctions for sellers?

How does an online auction start?

How do I know if I am the winning bidder at an online auction?

What is an auction?

What items are sold at an auction?

Where can i find the terms and conditions of an auction?

How do i register for an auction?

What are FICA documents?

What is a bidder number?

What is a registration fee?

What happens to my registration fee after the auction if I have not purchased anything?

What happens to my registration fee after the auction if I have bought something?

Can a registration fee be forfeited?

Do I have to register for an auction in order to attend?

How do I view all the auction items?

Can I test drive a vehicle prior to the auction?

How does an auction start?

What is a starting bid?

What is bidding?

What is a reserve price?

Wian: 082 646 0173 / 011 954 1131

wian@apa-partners.com

178a Gustav street,
Ruimsig Country Estate, Ruimsig

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