RULES OF AUCTION
Auction to be held on https://wwf.onlineauctions.africa/#!/ from 00h01 on 8 December 2020 to 23h59 on 12 December
In respect of sales by:
WWF South Africa (Reg No.003-226 NPO) of 1st Floor, Bridge House, Boundary Terraces, 1 Mariendahl Lane, Newlands, Tel: 021 657 6600 / E-mail: ContractsLegalNotice@wwf.org.za
- The rules of this auction comply with Section 45 of the Consumer Protection Act 68 of 2008 (“the CPA”) and Section 43(1) of the Electronic Communications and Transactions Act 25 of 2002 (“ECTA”) and their Regulations.
- Section 45 of the CPA reads as follows:
45.(1) In this section, “auction” includes a sale in execution of or pursuant to a court order, to the extent that the order contemplates that the sale is to be conducted by an auction.
(2) When goods are put up for sale by auction in lots, each lot is, unless there is evidence to the contrary, regarded to be the subject of a separate transaction.
(3) A sale by auction is complete when the auctioneer announces its completion by the fall of the hammer, or in any other customary manner, and until that announcement is made, a bid may be retracted.
(4) Notice must be given in advance that a sale by auction is subject to –
(a) a reserve or upset price; or
(b) a right to bid by or on behalf of the owner or auctioneer, in which case the owner or auctioneer, or any other person on behalf of the owner or auctioneer, as the case may be, may bid at the auction.
(5) Unless notice is given in advance that a sale by auction is subject to a right to bid by or on behalf of the owner or auctioneer –
(a) the owner or auctioneer must not bid or employ any person to bid at the sale;
(b) the auctioneer must not knowingly accept any bid from a person contemplated in paragraph (a); and (c) the consumer may approach a court to declare the transaction fraudulent, if this subsection has been violated. (6) The Minister may prescribe requirements to be complied with by an auctioneer, or different categories of auctioneer, in respect of – (a) the conduct of an auction; (b) the records to be maintained with respect to property placed for auction; and
(c) the sale of any property by auction.”
- Section 44(1) of the ECTA allowing buyers a cooling off period does not apply to online auctions.
- All prospective bidders must register here https://wwf.onlineauctions.africa/#!/ before the start of the auction by providing their full names, a copy of their identity document or passport , age, proof of physical address, IP address and the manner in which payment will be made. Registration must meet the requirements of the Financial Intelligence Centre Act 38 of 2001 (“FICA”).
- By providing their personal information during the registration process, the bidder consents to the collection, processing and storage of their personal information for the purposes of participating in the auction and completing any transactions relating thereto. In terms of CPA we are required to keep records including bidders information for a period of at least 3 years
- Registered bidders will be provided with a bidder number with which to bid. Registered bidders must keep their account details confidential and must not permit any 3rd parties to use or access their accounts as purchasers will be liable and responsible for all bids made using their account.
- The auctioneer will during the auction announce the reason for the auction unless the reason is the normal and voluntary disposal by the owner of the lots.
- The auction will commence at the published time and will not be delayed to allow for any specific person or more persons in general to take part in the auction.
- The Auctioneer accepts no responsibility for any interruption in internet connection resulting in the bidder being disconnected from the live auction, be it the bidder’s or Auctioneer’s internet connection interruption for any reason.
- In the event that someone bids on behalf of another person, a letter of authority must be produced containing express authorisation. In the event someone bids on behalf of a company, a letter of authority must be produced on a company letterhead with a certified copy of a resolution authorising them to do so.
- The bidders record and vendor roll are available for inspection during normal hours at no charge and can be viewed at https://wwf.onlineauctions.africa/#!/
- The total cost of advertising and conducting the auction is R34 000.00
- The rules of auction have been signed by the auctioneer who is going to conduct the auction and to the best of their knowledge, the rules of auction meets the requirements of the CPA regulation 21.
- The final auction catalogue will be available online at least 24 hours before the commencement of the auction.
- The auction is subject to reserved prices as indicated in the auction catalogue and / or as indicated by the auctioneer prior to the sale of the respective lots.
- Until the fall of the hammer any bid may be retracted or declined by the auctioneer if it is not compliant with the CPA.
- Registered bidders acknowledge that they are bidding in a live auction and agree that each bid is binding unless it has been withdrawn before the fall of the hammer.
- If there is a dispute between two or more bidders, the lot maybe put up for sale again or the auctioneer may declare the winning bid. The decision of the auctioneer is final.
- The purchase price excludes VAT and VAT must be added to the purchase price and paid by the Buyer, unless specifically stipulated otherwise by the auctioneer.
- All sales are for cash and the purchase price is payable by electronic fund transfer within 7 days after the acceptance of the bid to: Account holder: WWF South Africa Bank name: ABSA Account no: 410 720 086 Bank code: 632 656 Ref:
- The successful bidder shall not be entitled to a tax rebate receipt in terms of section 18A of the Income Tax Act, since the bidder will receive a reciprocal benefit.
- Ownership in the lots will remain with the seller until the purchase price has been paid in full by the Buyer.
- Risk in the lots passes to the purchaser (highest bidder) at the time the auctioneer notifies the purchaser of the acceptance of their bid.
- Unless it has expressly been included in the catalogue description of the lots, any transportation, accommodation or similar costs or expenses incurred by the winning bidder in collecting a lot will be for their own account. In the event that transportation is included in the description of the lot, it is limited to within the borders of South Africa only.
Stephen Abrahams Date