What Happens After You Win an Auction?

A Buyer’s Post-Auction Checklist

Winning an auction is an exciting moment, especially when it means you've secured high-value assets like trucks, trailers, or heavy equipment at a great price. But what comes next? 

At WCT Auctions, we understand that clarity is key, and this comprehensive post-auction checklist is designed to guide all winning bidders through the next critical steps.

Whether you’re a seasoned buyer or bidding for the first time, knowing exactly what happens after the virtual hammer falls helps you stay compliant, avoid delays, and get your new assets working for you fast.

 

Here’s your post-auction checklist

 

Step 1: Confirm Your Winning Bid

Once an auction closes, WCT Auctions will notify you via email if you’ve placed the highest bid on a lot. This confirmation is your official acknowledgement that you’ve won, and it will include a breakdown of:

• The hammer price (final winning bid)

• Buyer’s premium (additional auctioneer fee)

• Applicable VAT

• Documentation fees
   

Step 2: Review the Pro Forma Invoice

Once your win is confirmed, you will receive a pro forma invoice. This document outlines the total amount payable, due dates, and banking details for EFT payment. It’s crucial to:

• Double-check that your company or buyer details are correct

• Ensure that the lot numbers and asset descriptions match what you bid on

• Take note of the payment deadline (usually within 48–72 hours)

WCT Auctions maintains a strict payment window to keep transactions efficient and fair for all parties.

 

Step 3: Make Full Payment Promptly

To finalise your purchase, payment must be made in full via EFT using the bank details provided. No cash or card payments are accepted. Always use your invoice number or bidder ID as a reference.

Tip: If you're bidding through your business, keep your accountant informed for asset tracking and VAT processing.

Once payment is received, you’ll be issued a paid invoice and a release note for collection, your key to collecting the asset.

 

Step 4: Arrange Collection or Transport

WCT Auctions does not provide transportation. As the buyer, you are responsible for:

• Collecting the item within the stipulated timeframe

• Bring your release note and a valid ID for verification

• Arranging loading equipment or transport logistics, if necessary
   

Each auction listing includes location and collection details, including whether the asset is on-site at the seller or stored in a WCT-managed yard.

 

Step 5: Register the Asset (Where Applicable)

For vehicles, trailers, and machinery requiring registration or licensing:

• Use your proof of payment and the supplied release documentation

• Work with your local licensing department or vehicle registration partner

• WCT Auctions will provide original documentation where available

This step is critical for reselling, road use, or ownership transfers, especially for fleet buyers and logistics companies.

 

What If You Can’t Collect in Time?

WCT Auctions provides a limited grace period for collection. If you anticipate delays, communicate early with the support team. Failure to collect within the given window may result in:

• Storage fees

• Potential cancellation of sale

 

Avoid These Common Post-Auction Mistakes

• Not reviewing the invoice details carefully

• Missing payment deadlines

• Arriving for collection without release documents

• Assuming transport is arranged by WCT

• Ignoring asset registration requirements

 

Be a Smart Buyer, Follow the Checklist

Winning an auction is just the beginning. The real value comes from acting fast, staying organised, and understanding the process from payment to collection. WCT Auctions is committed to transparency, efficiency, and giving South African businesses and buyers access to premium-quality lots.

Have questions about your next steps? Visit our website or contact the WCT team directly for support.

You can also read our Conditions Of Sale for more information.