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1. Once you find what you like, you are ready to bid. Simply navigate to the asset you want to bid on via the category listing, and then place your offer.
2. It is highly recommended that you read all the details of the asset before you place your offer. Some items may not be returnable, but please note that by bidding for an auction, you are legally bound to purchasing the item if you are the winning bidder.
There is one a main buying format through which asset is sold on the website.
Offer
“Offer” allow you to make an offer for the asset online. An offer needs to be higher than the latest highest offer from a competitive buyer.
The offer increment is the minimum amount by which your offer has to be raised from the latest highest offer.
In some cases an offer has a reserve amount which is the lowest price accepted to sell the equipment.
After the expiry date you will be contacted by us if your offer is considered and above the potential reserve amount.
If you are selected as a potential buyer, you will receive an email with further information.
We will perform a credit check. After the positive outcome we will enter into a Sale and Purchase Agreement and submit the respective invoice to you.
Once we receive full payment of the purchase price as stated in the invoice, you will receive a notice with detailed information to pick up the asset.
The title to the asset and the rights and interests therein will only be transferred to you after receipt by us of full payment of the purchase price.
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