Terms and Conditions

Last updated: 18 March 2026

These Auction Rules and Fees & Payment terms apply to your registration and participation in any auction conducted by Aldes Business Brokers (Pty) Ltd, trading as Aldes Auctions ("the Auction House"). Specific dates, venues, deposit amounts, commission rates and banking details for a particular auction are confirmed in that auction's bidder's pack and Auction Terms as published on the relevant listing page — where there is any conflict between this page and a specific auction's published terms, the specific auction's terms take precedence.

Auction Rules

1. Definitions and interpretation

In these Auction Rules, unless the context clearly indicates a contrary intention, the following expressions bear the meanings given below, and equivalent expressions have similar meanings:

• Act — the Consumer Protection Act 68 of 2008, as amended.
• Advertisement Fee — the fee payable by the Seller to the Auctioneer to cover the Auctioneer's expenses relating to advertising the Lot to which the Goods form part.
• Auction Rules — the rules contained in this document, pertaining to the Auction.
• Auction — the method of marketing and selling the Goods on a predetermined date, time and place by means of a physical exchange or online electronic transmission via the Internet, or by any other means where there is a solicitation of offers and competitive bidding by the public, held under and in accordance with the Auction Rules.
• Auctioneer — the person or entity who will conduct the Auction, and who will sign and certify the Rules of Auction prior to the Auction, after being satisfied that it meets the requirements of all relevant Regulations.
• Auction House — Aldes Business Brokers (Pty) Ltd (Registration Number 2006/036900/07), a private company duly incorporated under the laws of the Republic of South Africa.
• Auction Date — the date(s) and time(s) on which the Auction shall be held, as recorded on the face and/or first page of the relevant auction's rules or bidder's pack.
• Bidder's Deposit — the refundable security amount paid by a prospective bidder prior to participating in the Auction, subject to the terms in these Auction Rules.
• Bidders' Record — the record maintained by the Auction House containing the identity and bidder numbers of all bidders registered to bid at the Auction.
• Business Day — any day other than a Saturday, Sunday or official public holiday in the Republic of South Africa.
• Closing — the moment at which the Auctioneer formally announces the conclusion of bidding for a Lot, either because the highest bid has been cast, whether the Reserve Price has been met or not, and no further bids can be validly made in respect of the Lot.
• Commission — the remuneration charged by the Auctioneer at the Commission Rate on the Purchase Price contained in the Sale Agreement, plus VAT thereon.
• Commission Rate — the percentage rate of commission charged by the Auctioneer on the Hammer Price of the Goods, as agreed between the Seller and the Auction House prior to the Auction.
• Delivery Date — in relation to Goods consisting of movable property, the date upon which the Goods are delivered to the Purchaser, as defined in the Sale Agreement.
• Goods — the property, whether movable or immovable, forming part of a Lot, which the Seller wishes to sell via the Auction.
• Hammer Price — the final bid price at which the Auctioneer accepts the highest bid for the Goods upon the fall of the hammer (or electronic equivalent, or Closing), notwithstanding that such price may be higher or lower than the Reserve Price.
• Liabilities — any and all liabilities and obligations of the Seller or the Purchaser, including contingent liabilities, actual liabilities, creditors, employee-related liabilities and tax liabilities, irrespective of when they arose, their cause, or whether they relate to the Property.
• Lot — any individual Good, set of Goods, or grouping of Goods offered for sale as a single unit at the Auction, as allocated and numbered by the Auctioneer.
• Parties — the Auctioneer, the Auction House, the Purchaser and the Seller collectively; "Party" means any one of them as the context requires.
• Purchaser — the person, natural or juristic, whose bid is accepted by the Auctioneer as the highest valid bid, subject to the Reserve Price, upon the closing of the bid, and who thereby becomes obliged to purchase the Goods on the terms of the Sale Agreement.
• Purchase Price — the amount payable by the Purchaser to the Seller for the Goods, equal to the Hammer Price (or such lower amount as the Seller agrees to in writing), exclusive of VAT.
• Reserve Price — the minimum price, exclusive of VAT, that the Seller is willing to accept for Goods sold at Auction.
• Regulations — the regulations to the Act, specifically Regulations GNR.293 of 1 April 2011, published in Government Gazette No. 34180.
• Seller — the seller, owner, or lawful holder of any item or Goods consigned to the Auction House for sale, including any person warranting they have full legal capacity and authority to offer such Lot and transfer title.
• Sale Agreement — the written agreement of sale concluded between the Purchaser and the Seller, recording the terms governing the sale of the Goods, including payment obligations and each party's rights and duties.
• Sales Record Schedule — the written record of sales conducted at the Auction, signed by the relevant bidder at the Closing of each Lot.
• Vendor's Roll — the official record maintained by the Auctioneer for each Auction, documenting the advertising, the Auction Rules, the Bidder's Record, required declarations, the full list of Goods offered (including those withdrawn), the names of successful bidders and prices paid, details of any challenges to the Auction, unsold Goods, and any reserve price or other matters contemplated in sections 45(4) and (5) of the Act.

Article headings are for convenience only. Substantive provisions within a definition are given effect as if contained in the body of these rules. This document is governed by the laws of the Republic of South Africa, and is read together with the Sale Agreement for any Auction held under it.

2. Registration and qualification

• No person may participate in the Auction unless they have completed the mandatory bidder registration process and are recorded in the Bidder's Record. All registrations must be completed prior to the Auction. Any bid by an unregistered person is invalid.
• Each prospective bidder must provide the Auction House with information and documentation to establish and verify their identity, including proof of identity, residential address, and any additional information reasonably required.
• The prospective bidder must personally complete and sign the Bidder's Record entry, confirming all information provided is true, correct and complete.
• A bidder acting as a representative, agent, employee, or in any other capacity on behalf of a third party must provide a letter of authority authorising them to bid on that party's behalf.
• A bidder acting on behalf of a company must provide a letter of authority on the company's letterhead, with a certified copy of the resolution authorising them to bid, before registration.
• Where a bidder acts on behalf of a third party, both the bidder and the third party must be identified to the Auction House's satisfaction and entered into the Bidder's Record.
• The Auction House may require further documentation, including proof of payment of any registration fee or Bidder's Deposit, confirmation the bidder is not disqualified from participating, and any other declaration necessary for compliance and Auction integrity.
• By registering, the bidder warrants that all information provided is accurate, complete and not misleading, and undertakes to notify the Auction House immediately of any changes. The Auction House is not liable for loss arising from inaccurate or outdated information provided by a bidder.
• Upon registering, the bidder is issued a bidder number, recorded in the Bidder's Record. The Bidder's Record and Vendor's Roll are available for public inspection, free of charge, during the Auction at the venue, and before or after the Auction at the Auction House's place of business during normal business hours.
• Completing registration constitutes acknowledgment that the bidder has read, understood, and agreed to be bound by these Auction Rules and any other applicable conditions of the Auction.
• Completing registration constitutes consent for the Auction House to share the bidder's information as described above, or as required to give effect to the sale of Goods on behalf of the Seller, or to enable the Seller to enforce their rights under applicable law.
• The Auction House reserves the right, in its sole discretion, to refuse or cancel a bidder's registration where required documentation is incomplete, inconsistent or unsatisfactory, where the bidder fails to comply with any requirement, where necessary to protect the Auction process, or for any other reason at the Auction House's sole discretion.

3. Conduct of the auction

• The Auction is held on the Auction Date and at the Auction Address specified for that auction.
• Goods are put up for sale separately or grouped in a Lot; each Lot is regarded as a separate transaction unless there is evidence to the contrary.
• The Auction and these Auction Rules comply with section 45 of the Act and its Regulations.
• The Auction commences at the stated time and is not delayed to obtain more bidders.
• The Auctioneer will announce the reason for the auction if it is held for any reason other than the normal, voluntary disposal of goods by the Seller.
• These rules need not be read out at the Auction to remain valid and enforceable, provided they are publicly available more than 24 hours before the Auction; if held in person, the Auctioneer invites objection to the rules not being read out; and a Purchaser signs a copy of these rules on the Sales Record Schedule at the Closing of a Lot they won.
• The Auction is conducted with reserve — the Seller need not accept the highest bid unless it equals or exceeds the Reserve Price. A bid below the Reserve Price does not oblige the Seller to accept it, and the Reserve Price is only disclosed if the Seller expressly requests this.
• Inspection of the Goods. Prospective Purchasers are given a reasonable opportunity to inspect the Goods before the Auction, physically or electronically, free of charge. The Auction House may restrict access where a prospective Purchaser acts unlawfully, or require compliance with reasonable security measures. Inspection is at the bidder's own risk; the Auction House is not liable for loss, damage or injury during inspection, save for its gross negligence or wilful misconduct.
• For Lots consisting of a motor vehicle as defined in the National Road Traffic Act 93 of 1996, all particulars required by that Act (auctioneer's details, no repair obligation notice, year of manufacture, first registration, manufacturer, model, registration number, engine number, VIN, odometer reading and its non-guarantee) are made available to bidders as part of inspection.

Hammer Price and sale

• The Seller may set a Reserve Price for the Goods prior to the Auction Date.
• No bid may be withdrawn once made.
• A bid that becomes the Hammer Price but is below the Reserve Price is treated as an offer to purchase at that price, which the Seller may accept or reject within 5 business days of the Auction Date.
• Where a bid meets or exceeds the Reserve Price, the bidder accepts the Seller's offer to sell, the Seller is obliged to sell at the Hammer Price, and the bidder becomes the Purchaser upon the fall of the hammer or Closing.
• Once the Hammer Price meets or exceeds the Reserve Price, the Seller and Purchaser are bound to conclude the written Sale Agreement on the terms of these Auction Rules and the relevant Sale Agreement, a copy of which is available to the Seller or any bidder prior to or on the Auction Date.
• Upon Closing of a Lot, all risk in the Goods passes to the Purchaser, including risk of loss, theft, damage or deterioration, unless the Sale Agreement provides otherwise.
• The Purchaser is solely responsible for the care, custody and insurance of the Goods once risk passes; the Auction House and Seller bear no further liability.
• The Purchaser is bound by and responsible for fulfilling all obligations under the Sale Agreement, including payment of the full Purchase Price and any applicable fees.
• All payments relating to the Auction or a resulting Sale Agreement are made into the Auction House's trust account, or as otherwise provided in the Sale Agreement.
• Where the Goods purchased are immovable property, the Auctioneer provides the Purchaser with a copy of the Sale Agreement immediately after Closing of that Lot.

Bidder's Deposit

• Should the bidder become the Purchaser, the Bidder's Deposit is allocated towards the Purchase Price in accordance with the Sale Agreement.
• Where a bidder who has become the Purchaser of a Lot wishes to bid on further Lots, the Auctioneer may, at its discretion, require the deposit to be topped up (not exceeding the initial registration amount) before further bids are accepted; previously allocated deposit portions may be applied between Lots; this process may repeat each time a deposit becomes fully allocated. This does not limit any other right the Auctioneer has to withhold, retain or allocate deposits under these rules.

Commission

• Where a bid becomes the Purchase Price, the bidder is liable to pay the Auction House Commission on that Purchase Price, in addition to the bid amount.
• Commission becomes payable on the Delivery Date (movable property) or the Sale Signature Date — the day the last party signs the Sale Agreement (immovable property).
• The Auction House may deduct the Commission and any applicable fees from the Bidder's Deposit from that date onward; that portion of the deposit becomes non-refundable from that point.

VAT

• All bids are deemed to exclude VAT.
• Where Goods are subject to VAT, or the Seller and/or Purchaser are VAT vendors, VAT is charged in addition to the Purchase Price, including on the Bidder's Deposit, payable in accordance with the Sale Agreement.

Recording and electronic auctions

• The Auction House may regulate, control and record the Auction in any manner it deems effective. Recordings are not available to the public, Purchaser or Seller, except as required by court order or law, and serve as prima facie proof of the Auction and sales.
• The Auction may be conducted electronically, provided it complies with the Act, the Regulations, and applicable law. An electronic auction platform must be generally available to persons over 18, maintain high security standards, allow access to required Auction records (the Vendor's Roll and Bidder's Record), and the Auction House must ensure Goods are advertised, presented and auctioned to the same standards as an in-person auction.

4. Condition of goods

• All bidders acknowledge they were afforded a reasonable opportunity to inspect the Goods prior to the Auction, physically or electronically.
• As Goods are sold by auction, section 55 of the Act (implied quality/fitness warranties) does not apply. Goods are sold voetstoots, in the condition they exist as at the Auction Date, without any warranties express, implied, statutory or otherwise.
• Neither the Seller, the Auctioneer, nor the Auction House is liable for any defects (latent or patent) in the Goods, or any resulting loss or damage.
• The Auction House and Auctioneer act as agent for the Seller and do not independently verify the Goods or the Sale Agreement beyond information provided by the Seller.

5. Default

• If the Purchaser fails to pay the full Purchase Price when due, fails to enter into the Sale Agreement within 5 business days of the Auction Date, or fails to comply with any term of these Auction Rules, the Bidder's Deposit paid (held for the Seller's benefit) is allocated towards the Auctioneer's Commission and fees.
• The Seller may cancel the sale and re-sell or re-auction the Goods without notice to the Purchaser.
• Should the Seller default under the Sale Agreement, the Auction House refunds the Purchaser's full Bidder's Deposit within 10 business days of the Auction Date, and is not further liable for losses arising from the Seller's default.

6. Prohibited collusive bidding and mock auctions

• No Seller, Purchaser, bidder, or person acting on their behalf may engage in conduct intended to manipulate, influence, or artificially increase or reduce the bidding or Hammer Price of any Lot.
• Collusive conduct includes: selling Goods for less than the highest bid or crediting part of the Purchase Price back to a Purchaser without legitimate reason; restricting bidding rights to persons who bought other Goods; giving Goods away as gifts; or arranging for parties not to bid competitively against one another.
• Where the Auctioneer or Auction House becomes aware of, or reasonably suspects, collusive conduct, it may withdraw the affected Lot, void the bidding for it, refuse to recognise the offending bid, ban the offending party from future auctions, and withhold from that party's Bidder's Deposit an amount equal to its reasonable costs and losses before refunding the balance.
• These rights are in addition to any other legal remedy. Collusive conduct is a material breach entitling the Auctioneer or Auction House to pursue damages or other relief.

7. FICA and POPIA compliance

• Personal information collected to comply with the Financial Intelligence Centre Act 38 of 2001 is processed by the Auction House for legitimate business purposes in conducting the Auction, which may include transmitting it to the relevant Seller for compiling Sale Agreements, the Bidder's Record and Vendor's Roll, or protecting the Seller's legitimate interests, in a manner justifiable under section 11 of the Protection of Personal Information Act 4 of 2013.
• Where payment is received from a party other than the Purchaser, the Auction House may conduct a risk assessment and request identification documents for that third-party payer before releasing any Bidder's Deposit or discharging obligations under a Sale Agreement.
• The Auction House may cancel a sale transaction it deems to fall outside compliance with the Regulations or the Financial Intelligence Centre Act, including after a further risk assessment conducted after the Auction has concluded.

8. Dispute resolution

Save as expressly provided otherwise, any dispute arising out of or in connection with these Auction Rules — including its validity, interpretation or cancellation — is submitted to arbitration in accordance with South African arbitration law. The arbitrator is an attorney of at least 15 years' standing (for primarily legal matters) or a suitably qualified independent person agreed by the parties, failing agreement within 14 days appointed by the Arbitration Foundation of Southern Africa. Arbitration is held in Pretoria under the High Court Rules, with the arbitrator empowered to investigate, summon witnesses, take evidence under oath, award costs, and make any order a competent High Court could make. Awards are final and binding, subject to a right of appeal to a three-arbitrator panel within 15 days of the award, conducted on the same terms as the initial arbitration. Hearings are held in camera and are confidential. This does not preclude a party from seeking urgent interim relief from the Gauteng High Court, Pretoria, pending arbitration.

9. Cession and delegation

No Party may cede, assign, delegate or otherwise transfer any of their rights or obligations under these Auction Rules without the other Party's prior written consent.

10. General

• Waiver. No waiver of any term is binding unless in writing and signed by the party giving it, and applies only to the specific instance given. No delay or failure to exercise a right operates as a waiver, and a single or partial exercise of a right does not prevent further exercise of it or any other right.
• Severability. Each provision of these Auction Rules is severable; an invalid or unenforceable provision is treated as pro non scripto, with the remaining provisions continuing in full force.
• Relaxation. No indulgence, extension of time, delay or partial exercise of a right by any Party is to be construed as a waiver, election, or novation affecting that Party's rights, or as precluding strict future enforcement of these Auction Rules.
• Variation. No addition, variation, cancellation or novation of these Auction Rules is effective unless in writing and signed by the Parties or their authorised representatives.
• Notices. Notices are deemed received on the date of hand delivery, 4 days after dispatch by registered post, or on the first business day after dispatch by e-mail (unless proven otherwise). A notice actually received by a Party is adequate written notice regardless of the method used.

Fees and Payment

The registration deposit, Seller's deposit, commission rate and any other fees are set per auction and confirmed in that auction's published Auction Terms and bidder's pack — refer to the specific listing for the applicable figures. The payment process below applies to every auction regardless of the specific amounts.

Amounts payable by the successful Purchaser on the fall of the hammer

• A non-refundable Seller's deposit and Buyer's Commission (plus VAT on the commission) become payable immediately on the fall of the hammer, at the rates published in that auction's Auction Terms.
• These amounts are payable immediately on the fall of the hammer by Electronic Funds Transfer (EFT) only — no cash, cheque or card unless approved in writing by the Auctioneer.
• The balance of the Purchase Price is payable in accordance with the Conditions of Sale and Agreement of Sale for that auction.

1. General payment terms

• All amounts are payable in South African Rand unless otherwise agreed in writing by the Auctioneer.
• VAT is levied where applicable in accordance with the Value-Added Tax Act.
• Payment is due immediately upon receipt of the Auctioneer's invoice following the Seller's acceptance of the highest bid, unless the Conditions of Sale provide otherwise.
• Electronic Funds Transfer is the only accepted payment method unless otherwise authorised in writing. Cheque, credit card, debit card and cash are not accepted unless expressly authorised.
• The Purchaser must use the bidder number, invoice number or payment reference supplied by the Auctioneer for every payment — failure to do so may delay allocation of funds.
• All monies must reflect in the nominated Aldes Auctions Trust Account or the Conveyancing Attorneys' Trust Account, as applicable, before any transfer process, release of documents or handover commences.
• Bank charges, foreign exchange costs, SWIFT charges or international banking fees are borne solely by the Purchaser.
• Failure to comply with these payment obligations may constitute a material breach of the Conditions of Sale, and may result in cancellation of the sale, forfeiture of deposits, damages, interest, legal costs and any other available remedy.

2. Payment obligations of the successful Purchaser

• Seller's deposit. A non-refundable deposit, calculated as a percentage of the Purchase Price as published in that auction's Auction Terms, is payable immediately upon the Seller's acceptance of the offer, into the Conveyancing Attorneys' Trust Account, held pending registration of transfer.
• Buyer's Commission. Payable immediately to Aldes Auctions at the rate published in that auction's Auction Terms, plus VAT. This is in addition to (not included in) the Purchase Price, becomes due immediately on the Seller's acceptance, and is non-refundable.
• Balance of the Purchase Price. Secured by a bank guarantee acceptable to the Seller and Conveyancing Attorneys, or paid by EFT into the Conveyancing Attorneys' Trust Account, within the period stipulated in the Conditions of Sale.
• Finance applications. Unless expressly stated otherwise, no sale is subject to the Purchaser obtaining finance. Purchasers requiring finance must provide proof of funding, approved bank finance, acceptable guarantees or irrevocable confirmation from a recognised financial institution within the prescribed time periods — failure to do so may constitute a breach of the Conditions of Sale.

3. Unsuccessful bidders

The refundable registration deposit of unsuccessful bidders is ordinarily refunded within 48 hours of the auction's completion, provided verified banking details have been supplied, a bank confirmation letter has been submitted where requested, all FICA requirements are satisfied, and the funds have cleared through the banking system. No interest accrues on refundable deposits.

4. Rejected offers

Should the Seller reject the highest bid or any offer submitted, any refundable registration deposit is refunded within a reasonable period after written confirmation of the Seller's decision. The Auctioneer may require proof of bank account ownership and a bank confirmation letter before effecting payment. No interest accrues on refundable deposits.

5. Banking requirements

• Proof of payment must be forwarded to the Auctioneer immediately after payment is made.
• Bank guarantees, where applicable, must be delivered to the Conveyancing Attorneys within the period prescribed in the Conditions of Sale.
• No transfer process commences until all required payments and guarantees have been received and cleared.
• The Purchaser remains solely responsible for ensuring funds are received in the designated trust account within the prescribed time periods.

6. Additional costs

The Purchase Price excludes the Buyer's Commission, VAT where applicable, transfer duty or VAT payable on transfer, conveyancing fees, bond registration costs, rates clearance figures, compliance certificates, municipal and statutory charges, and any other costs associated with the transfer of ownership. All applicable fees and charges are disclosed in the Conditions of Sale, Registration Pack, or announced by the Auctioneer prior to the auction commencing.

7. FICA, purchaser verification and supporting documentation

In terms of the Financial Intelligence Centre Act 38 of 2001, the Property Practitioners Act 22 of 2019, and Aldes Auctions' internal compliance requirements, every successful Purchaser must provide the following documentation before any transfer process or transaction may proceed. Failure to provide the required documentation within the prescribed time periods may constitute a breach of the Conditions of Sale.

Individual Purchasers

• Certified copy of a valid South African ID or passport (for foreign nationals).
• Proof of residential address, not older than three months.
• Income tax number, where applicable.
• Contact details, including email address and mobile number.
• Bank confirmation letter confirming account holder name and banking details, and proof of bank account ownership where requested.
• Marriage certificate or antenuptial contract, where applicable.
• Any additional documentation reasonably required for FICA compliance.

Company or close corporation Purchasers

• CIPC company registration documents and a current CIPC disclosure certificate.
• Company registration number, VAT registration certificate (if applicable), and income tax registration confirmation.
• Board resolution authorising the purchase and the nominated signatory.
• Certified identity documents and proof of residential address (not older than three months) for all directors or members.
• Shareholding structure where reasonably requested.
• Bank confirmation letter and proof of the company's bank account ownership.
• Any additional documentation required for FICA compliance.

Trust Purchasers

• Letters of Authority issued by the Master of the High Court, and the Trust Deed.
• Resolution of Trustees authorising the purchase.
• Certified identity documents and proof of residential address for all Trustees.
• Bank confirmation letter and proof of the Trust's bank account ownership.
• Income tax number and VAT registration certificate (if applicable).

Bank confirmation letter

Every successful Purchaser must submit an original or electronically issued Bank Confirmation Letter confirming the account holder name, bank name, account number, branch code, account type, and that the account is active. The Auctioneer reserves the right to refuse payments into any account that cannot be satisfactorily verified.

Verification process

All FICA documentation is verified before transfer instructions are issued. The Conveyancing Attorneys and Auctioneer may request additional documentation at any stage. No transfer documentation is prepared until all compliance requirements are satisfied, and the Seller and Auctioneer reserve the right to suspend performance pending satisfactory completion of all statutory verification requirements. The Auctioneer reserves the right to refuse registration, refuse acceptance of any bid, or refuse to complete any sale where the Purchaser fails to satisfy FICA, anti-money laundering, know-your-client, sanctions screening, or other regulatory compliance requirements. No transfer of ownership, possession, risk or benefit takes place until all compliance requirements have been fully satisfied.

8. Purchaser compliance checklist

The successful Purchaser should ensure the following documentation has been submitted: certified identity document or passport; proof of residential address (not older than three months); bank confirmation letter; proof of bank account ownership; proof of payment; company registration documents and current CIPC disclosure certificate (if applicable); board resolution authorising the purchase (if applicable); VAT registration certificate (if applicable); income tax registration number (if applicable); trust documents and Letters of Authority (if applicable); directors' or trustees' identity documents and proof of address; the signed Conditions of Sale; the signed Offer to Purchase or Agreement of Sale; and any additional documentation reasonably required by the Auctioneer or Conveyancing Attorneys.

For questions about these terms, contact us at the contact page.