FREQUENTLY ASKED QUESTIONS
Complete the registration form by downloading it from our website. This will enable you to speed up the process when collecting your bidders card on the day of the auction. Registration will take place the day before the auction as well as on the auction day. Ensure that your refundable registration deposit of R20,000 has been paid to WCT Auctions before the auction commences.
Most items on auction will be sold with no reserve price. Items will be sold to the highest bidder on the day of the auction.
Items on auction are considerably cheaper than market related prices, because the bidder always has the first option to bid up to their desired budget amount.
There are 3 ways to bid on auction.
1) Attend the live onsite auction.
2) Telephone bidding with one of our representatives.
3) Online timed or webcast auction.
Once the winning bid falls on you, there will be a 10% buyers commission plus 15% VAT. All online bidding will be charged at 12% buyers commission and 15% VAT.
The admin staff will allocate your bidding number to the bought asset and issue you with an invoice. Payments need to happen no later than 48 hours after the auction.
Unfortunately once you have won a bid, any individual lot may not be cancelled off the invoice. This is because an auction is a free and fair buying process and buyers need to adhere to the terms and condition of the auction.
Yes of course! We are working hand-in-hand with Auction Finance. They are in the position to provide pre auction qualification and facilitate your finance deal. Speak to one of our consultants to put you in touch with Auction Finance.
WCT Auctions require a refundable R20,000 registration deposit before taking part in the auction. We also require FICA documents:
1) Copy of ID
2) Proof of Residence (water/ lights etc)
The deposit is 100% refundable and should take 2 to 3 working days to receive the refund.
