Buying at Auction

1. Why BUY at Auction
2. Auction Times
3. What's for sale
4. Catalogues
5. Viewing Times- Hours of Business
6. Test Drives
7. Mechanical Appraisals
8. Assisted / Absent Bidding
9. The AUCTION--How it works
10. Payment and Completing your Purchase
11. Buyer Premium and Title Guarantee
12. Changing the Ownership
13. Additional Information

1. Why BUY at Auction.

Most of us at some stage have spent countless hours searching for that private vehicle for sale.

Tracking down the vendor, travelling out of town only to discover that the vehicle is not as described and you are expected to pay what the vendor wants rather than what the vehicle is worth on the market.

Auction shopping is one stop shopping. One visit to our showroom and you are able to choose from up to 200 vehicles- all priced to sell at market value. We encourage test drives and mechanical appraisals. Our staff will thoroughly explain the auction system so you feel comfortable with bidding at the auction.

2. Auction Times

At Auto Auctioneers our auctions vary only by price. Our Wednesday auction is a Budget Auction for vehicles with a reserve of up to $6000.00 and Thursday is an open auction where a small selection of cars under $6000.00 is offered for sale but most vehicles will be in the upper price bracket. So no worry about whether the auction will have the type of vehicle you are after. All you have to remember is:

• WEDNESDAY at 6pm
• THURSDAY at 4pm

3. What's for sale.

We sell all makes and models of Trucks ,Ute's, Vans and Cars across all price ranges

4. Catalogues.

If you want to know what's on offer before you arrive simply phone and request a list. We are happy to fax you one as soon as a complete list is available.

A selection of vehicles for sale also appears in the Loot and the Bay Trader each week.

5. Viewing Times- Hours of Business.

Auto Auctioneers hours are as follows.

Our viewing times are not restricted. You are welcome to view and test drive during these hours. Don't let bad weather keep you away. Most of the vehicles are undercover.

6. Test Drives.

On non auction days you are able to test drive at any stage of our working day. You will need to have your current drivers licence with you to be able to take a vehicle on the road.

On auction day test drives are allowed all day until 15 minutes before the Auction begins. You can test drive after the Auction if you wish. You must register for the auction and have your current drivers licence with you before you can test drive.

7. Mechanical Appraisals.

At Auto Auctioneers we can arrange a mechanical appraisal for you.

An appraisal can be done off-site for $65 (petrol) or $90 (diesel). We can arrange pick-up and delivery. The mechanical report will come back to us with the car. You can speak to the mechanic about any queries you may have.

You will need to pre-pay for this service. Our office staff will arrange this for you.

8. Assisted / Absent Bidding.

At the auction but unsure of what to do? Just let us know. Our staff will help you to bid.

Want to buy but can't be here? One of our staff can bid for you. All you do is leave your top bid with us in writing. We will bid to that level for you. You will have to arrange a $200.00 deposit for purchases up to $1999 and $400 for purchases $2000 and over. This deposit must be paid before the auction begins. If you are outbid on the night then the money is refunded to you.

If you wish to be phoned and do the bidding yourself we will do all we can to assist but sometimes staffing levels prevent this being possible. Once again the appropriate deposit must be left with us before the auction begins.

9. The AUCTION--How it works.

When you arrive at Auto Auctioneers to purchase a vehicle on auction day you will be required to register at the office. You will be given a bidders number. You will need to have your current drivers licence with you to complete the bidding forms. A list of the auction rules is also available at the counter. We will give you a catalogue of the vehicles for sale at the auction.

Then you can decide which vehicle or vehicles interest you, test drive and arrange mechanical inspections. (These are best arranged the day before or early on the day of the auction).

Once the auction begins the vehicles will be driven behind the glass viewing wall. The Auctioneer gives a description of the vehicle and then calls for starting bids close to the expected selling price ,dropping down until someone bids. You should bid by making a clear hand signal. The auctioneer usually takes bids in lots of $500, $200, $100, and $50. He will let you know the value of the bid.

The reserve price needs to be reached before the vehicle can sell. The reserve is the minimum price the vendor will accept. When the bidding reaches the 'reserve' the selling light comes on. The vehicle is then on the market. The top bidder when the bidding stops (at the fall of the hammer) will be the new owner of the vehicle.

If the reserve is not reached then the vehicle is not sold but the auctioneers can negotiate a price between the vendor and the top bidder. The top bidder has first right to negotiate until 8pm on auction night.

10. Payment and Completing your Purchase.

Once you have purchased your vehicle you are required to leave a $200.00 deposit if your purchase is $1999.00 or less, or $400.00 if your purchase is $2000.00 and over. This can be paid by cash, Eftpos or credit card. The balance is required the following business day by Cash, Eftpos or bank cheque. Note we cannot take credit cards for the balance. If you are financing your vehicle we will liaise with your finance company regarding the balance due.

You may choose to pay in full immediately and drive away.

11.Buyer Premium and Title Guarantee.

This is a fee charged over and above the purchase price. Charges are as follows.

For Vehicles up to $1999.00 - $150.00 in total (this includes Change of Ownership.

For Vehicles $2000.00 and over- $250.00 in total (this includes Change of Ownership.

These charges are GST inclusive.

Title insurance is included in the above fee. This means that you are guaranteed clear legal title to the vehicle. If it is established that the vehicle was at the time of sale encumbered and / or the vendor did not have title to or was not entitled to sell the vehicle, Auto Auctioneers Hamilton ltd as it's sole option will either take such steps to give clear title to the vehicle or it will refund the purchase price.

12.Changing the Ownership.

You will complete a Change or Ownership at the time of purchase. The fee is included in your Buyer Premium. You will need your Drivers Licence or some other form of signed photo ID to complete the form. The vehicle cannot be released if the form is incomplete. We can then arrange processing of the vehicle into your name. Registration Papers to the vehicle will then be sent to you from Motor Registration Centre.

13. Additional Information

Purchasing at auction differs from purchasing at a retail yard or purchasing privately. Auction purchases are not covered by the Consumer Guarantees Act. The auction house can contract out of the Sale of Goods Act. Auto Auctioneers is bound by law to display in each vehicle for sale a Supplier Information Notice (SIN). If this is inaccurate incomplete or misleading then a purchaser may have a claim under the Fair Trading Act.

Auto Auctioneers therefore encourage mechanical appraisals before purchase.

More information regarding vehicle purchase at auction is available at the Ministry of Consumer Affairs website.