Online Auctions and How to Register
Burchmores has introduced an Online Auctions platform to supplement their live auctions held at their premises located in Johannesburg, Cape Town and Durban.
To participate in Online Auctions on the Burchmores website, you will be required to register on our website in the same way as you would have in order to participate in a live auction.
Online Auction Registration Steps:
- Register and create a profile. You will be required to specify in which capacity you will be participating, i.e. Private Individual, Company, Trusts, etc.
- Based on your Capacity selected in step 1, you will be required to submit various documents to us in the Required Documents section. You can change your Capacity at any time before step 4. Click here to view all required documents based on the various capacities.
- Acceptance of the Conditions of Sale by Public Auction.
- A deposit of R8,000 will be required in order to participate in an online auction. This deposit will be deducted from auction purchases, or alternatively, be refunded or retained for future Online Auctions. This deposit will be deducted from auction purchases, or alternatively, be refunded or retained for future Online Auctions. You will receive instructions from us after submitting your Required Documents.
Once you have Accepted the Conditions of Sale by Public Auction, we will review your information and enable your account, so you can participate in Online Auctions. You will not be able to change or remove documents once accepted.
Online Auctions starts on Monday at 10 am and ends on Tuesday at 10 am and Thursday at 10 am and ends on Friday at 10 am
BIDDING ON AN ABSA AUCTION:
- All bids EXCLUDE an ADMIN FEE OF R2 608.70 (excluding VAT)
- All bids EXCLUDE 15% VAT
- NO buyers commission is payable on cars purchased on auction
- A breakdown of your total commitment is provided when you place your bid
Example:
Bid Price R60,000.00
Plus: Admin Fee: R 2,608.70
Plus: VAT (15%): R 9,391.30
Total: R72,000.00
BIDDING ON ANY OTHER AUCTION:
- All bids EXCLUDE an ADMIN FEE OF R2 500.00 (excluding VAT)
- All bids EXCLUDE 15% VAT
- NO buyers commission is payable on cars purchased on auction
- A breakdown of your total commitment is provided when you place your bid
Example:
Bid Price R60,000.00
Plus: Admin Fee: R 2,500.00
Plus: VAT (15%): R 9,375.00
Total: R71,875.00
Here are some tips and important notes when participating in Online Auctions:
- You can place multiple bids up until the auction ends.
- You can bid on multiple items on the auction.
- You cannot delete or cancel a bid once it has been placed. All successful bids are binding.
- All amounts are displayed as exclusive of VAT. A summary of the fees and the Final Bid Amount inclusive of VAT are displayed in order to assist you.
- You can place an Offer for Consideration, that is less than the listed Reserve price, only if there are no active bids on the vehicle. Offers for Consideration will be adjudicated and where successful, bidders will be notified within 24 hours of the auction closing.
- You can set a Maximum Bid. Where you place a Maximum Bid, the system will automatically bid on your behalf, utilizing the minimum bid increment, when someone places a bid higher than yours.
- The final / winning bid is binding and you will be required to make payment in full within 24 hours of the auction closing.
- You can view your past and current Online Auctions bidding history over the last 30 days in the Auction History section.
BURCHMORE'S Banking Details
To request banking details please contact us.