Wild Karoo Auction Rules, Terms and Conditions

The Auctioneer:

1. This Auction is presented by Wild Karoo (Hereinafter “The Auctioneer”) and conducted through the website www.wildkaroo.co.za with business premises situated at , Graaff-Reinet. The Auctioneer is not the seller of any goods on this site, but only provides the facility for an online auction of said goods, and as such cannot guarantee the ownership of goods nor the accuracy of information provided by the seller. All goods (hereinafter referred to as “assets”) are sold by The Auctioneer on behalf of the Seller.

The Auction:

2. The Auction is conducted under these Terms and Conditions of Auction and applicable South African law. Announcements and corrections on the website of The Auctioneer and those made through the Terms and Conditions of Auctions appearing on www.wildkaroo.co.za supersede those in any printed catalogue / document. The rules of this auction shall also comply with the provisions of Section 45 and all relevant regulations to the Consumer Protection Act 68 of 2008. For greater clarity Section 45(1-4) states as follows:

a. In this section, "auction" includes a sale in execution of or pursuant to a court order, to the extent that the order contemplates that the sale is to be conducted by an auction.

b. When goods are put up for sale by auction, each lot is, unless there is evidence to the contrary, regarded to be the subject of a separate transaction.

c. A sale by auction is complete when THE AUCTIONEER announces its completion by the fall of the hammer, in this case at the closing of the auction period as determined by The Auctioneer.

3. Until the conclusion of the auction as contemplated in Section 45(3) of the Act, any bid may be retracted or declined by THE AUCTIONEER if not compliant with the regulations of the Consumer Protection Act.

4. All assets are sold "voetstoots" and the purchasers do not enjoy the protection of Section 55 and 56 of the Consumer Protection Act. Any information provided regarding the quality, breeding, age, condition, reproductive/pregnancy status, genetic makeup or any information regarding health, production or weight or any other aspect of the asset, is provided by THE SELLER and any misrepresentation shall be attributed to THE SELLER . Any remedy being exercised as a result of any misrepresentation shall likewise be against THE SELLER.

Qualifying to bid:

5. Any person participating or registering for the Auction agrees to be bound by and accepts these Terms and Conditions of Auction ("Bidder(s)").

6. All Bidders must qualify in terms of The Auctioneer’s criteria for bidding. Any Bidder who is not a client in good standing in the discretion of the Auctioneer may be disqualified or refused to register for the auction. This decision is at the Auctioneer's sole and unlimited discretion which may be exercised at any time prior to or during the Auction. The Auctioneer reserves the right to exclude any person from the auction.

7. Credit checks:

a. Bids will only be accepted from buyers registered for an auction through the Internet registration process. Registered buyers may be required to pay a refundable deposit before being allowed to participate in the auction, as prescribed on the auction site. Bidders who are not past clients of The Auctioneer or affiliates may be requested to provide information for a credit check that includes a request for providing full bank account details together with a written consent addressed to their Bank (in favour of The Auctioneer) to view the balance therein so that a credit check may be performed prior to Auctioneer's acceptance of a bid. Credit may be granted at the discretion of the Auctioneer.

b. FICA registration is required at registration and the Auctioneer will require specific information from every registered buyer to comply with legislation.

8. Bidders are responsible to comply with legislation and regulations as prescribed by their local conservation authority. It is the bidder’s responsibility to ensure that his property qualifies for pre-requisites pertaining to the animals in the lot with specific reference to exemption permits or where applicable a TOPS permit or WR registration certificate and that a permit will be issued by the Department of Environmental Affairs. Buyers will be liable for full payments despite refusal of permits or delayed issue of permits.

9. Auctioneer reserves the right to refuse to honour any bid or to limit the amount of any bid, in its sole discretion. A bid is considered not made in "Good Faith" when made by an insolvent or irresponsible person, a person under the age of eighteen, or if the bidder is not supported by satisfactory credit references, or otherwise. Regardless of the disclosure of his/her identity, any bid by a consignor or his/her agent on a lot consigned by him/her is deemed to be made in "Good Faith."

Bidding:

10. All items are to be purchased to take the lot as numerically indicated and no lots will be divided into smaller groups or individual animals. Bidding is always per animal in the lot to take the whole lot or package.

11. Auctions are conducted solely on the Internet, but The Auctioneer may accept bids via email or fax. In case of bids received by email or fax the registered clients must have requested / instructed The Auctioneer to bid on their behalf before the bid is received.

12. A function on the website requesting the system to bid on behalf of the bidder may be available in future and once selected can only be reversed by the bidder when he informs the administrator of the website in person via email, fax or telephonically of the cancellation of automatic bidding on his behalf.

13. If an entity places a bid, then the person executing the bid on behalf of the entity agrees to personally guarantee payment for any successful bid.

14. Bidding Options:

a. Bid By Internet - You can bid online using our interactive Auction Programme . Every lot is listed with full descriptions, and have high quality images.

b. Bid By e-Mail – Registered buyers who have requested The Auctioneer to bid on their behalf must do so in advance and can e-mail their maximum bid amount requests to the AUCTIONEER three hours before commencement of the auction. The auction system is however developed to take the first bid received and should a bid be received that equals the instructed maximum amount before the bid is placed, The Auctioneer cannot be held responsible for the loss of the bid.

15. The Auctioneer shall not be responsible for errors made in bidding by bidders. Bidders take full responsibility for reading and understanding the lot details and it follows therefore that every bid is binding and cannot be withdrawn once entered. When identical bids are received, preference is given to the first bid received.

16. Bid increments are specified for each lot and is the lowest increment amount you may bid on for a particular lot. Bids greater than one increment over the current bid can be a multiple of the increment. Bids will be accepted in whole South African Rand amounts only. No "buy out" or "unlimited" bids will be accepted.

17. Any bid made does not include VAT, which, where applicable, will be added to the bidding price for which a VAT invoice will be issued. If no VAT is applicable, it will be specified on the lot information.

18. Auctioneer reserves the right to withdraw, prior to the close, any lots from the Auction.

Information provided for lots:

19. All registered bidders have a right of inspection of all goods put up for sale and the seller shall provide reasonable time and access prior to the start of the auction for such an inspection during an open day on the SELLER’s property.

No warranty, whether expressed or implied, is made with respect to any description contained in this auction or any advertising publication. Any description of the items contained in this Auction is for the sole purpose of identifying the items for those Bidders who do not have the opportunity to view the lots prior to bidding, and no description of items has been made part of the basis of the bargain or has created any express warranty that the goods would conform to any description made by Auctioneer. Colour variations may occur in any electronic or printed imaging, and this shall not constitute grounds for the dvertising publicatiomispresentation of any lot.

20. Should THE AUCTIONEER become aware of any mistake on advertising material or any other publication or amendment to these Rules of Auction, THE AUCTIONEER will prior to the auction point out and when necessary amend such mistakes in the advertisement or publication.

21. In the event of an attribution error, Auctioneer may at its sole discretion, correct the error on the Internet, or, if discovered at a later date, to refund the buyer's purchase price without further obligation.

Reserved or upset prices:

22. Lots are subject to a reserved or upset price. The auction is not an absolute auction but will be subject to reserved prices settled by THE SELLERs. At closing of the auction, the system will indicate whether the reserve price was met by the bidder or not. If the reserve price was not met, The Auctioneer will check with the seller before concluding a sale or not. The decision by the Seller will be final.

23. The starting / opening bid amount is not necessarily the reserve amount on the Lot.

24. IF THE HAMMER PRICE DOES NOT MEET THE "Minimum Bid", THE LOT WILL BE DEEMED “NOT SOLD” BY THE AUCTIONEER.

Closing of the bidding/fall of hammer:

25. The highest qualified Bidder recognized by the Auctioneer shall be the Buyer. In the event of a tie bid, the earliest bid received or recognized wins. In the event of any dispute between any Bidders at an Auction, Auctioneer may at his sole discretion re-offer the lot. Auctioneer's decision and declaration of the winning Bidder shall be final and binding upon all Bidders. Although a closing time for the auction is clearly indicated, bids received on lots within the last ten minutes of the auction will extend the auction by another ten minutes from the time the last bid was received. This process of extension of the auction lot closing time will continue until no bids are received in ten minutes prior whereby the highest bidder will win the lot.

26. Due to possible technical errors / no service or system downtime (for which the Auctioneer is responsible), during which Bidders cannot participate or place bids, THE Auctioneer, at its sole discretion may extend bidding for the Auction. Registered bidders unable to place Bids on the Internet are directed to contact The Auctioneer technical support at 0729683752 immediately.

Payments by buyer:

27. All sales are strictly paid in South African Rand. Only Electronic Funds Transfer and bank guaranteed cheques are accepted. All are subject to clearing and funds being received in Auctioneer's trust account before capture or delivery of the purchases may be arranged.

28. A 50% payment is due immediately upon closing of the Auction session and upon presentation of a statement by The Auctioneer. Delivery of sold goods will only proceed after final payment and clearing of funds of the outstanding balance payable on the due date into the trust account of the Auctioneer. In cases where the capture is undertaken on the day of the auction (live auction) or in the next 72hours after closing of the auction, the full amount is payable at closing of the auction.

29. Auctioneer reserves the right to follow up any unpaid invoice and recover any costs, commissions and other damages pertaining to the lot.

Unsold items:

30. The Auctioneer has the right to sell certain unsold items after the close of the Auction. Such lots shall be considered sold during the Auction and all these Terms and Conditions shall apply to such sales including but not limited to the Seller’s commission, return rights, and disclaimers.

Capture and risk transfer:

31. Each lot shall immediately after the conclusion of sale be due for capture by the seller according to the specified capture date on the lot. Once the lot was captured and loaded the risk will pass from the seller to the purchaser who will at his own risk and cost remove the lots from THE SELLERs custody. Removal of any assets or lots however will not be allowed until payment of the purchase price by the purchaser or acceptable arrangements for payment thereof have been made by the purchaser with THE AUCTIONEER.

32. Title shall not pass to the successful Bidder until all invoices are paid in full.

33. Onus rests solely on the buyer to provide adequate insurance coverage for transport and post-transport for the items prior to being transported.

34. All delivery and transportation charges will be borne by the successful Bidder. On all domestic transportation any risk of loss during delivery will be borne by the Bidder.

35. It shall be the responsibility off the successful Bidder to arrange pick-up and delivery through third-parties; as to such items the Seller shall have no liability from the time the animals are captured and inspected. Failure to pick-up or arrange transport on day of capture shall subject Lots to holding fees and moving charges. In the event the Lot is not removed within ninety days, the Lot may be offered for sale to recover any holding or moving fees.

Non-payment and claims:

36. Auctioneer reserves the right to rescind the sale in the event of non-payment, breach of a warranty, disputed ownership, auctioneer's clerical error or omission in exercising bids and reserves, or for any other reason and in Auctioneer's sole discretion.

37. In cases of non-payment, Auctioneer's election to void a sale does not relieve the Bidder from their obligation to pay Auctioneer any fees and any other damages or expenses pertaining to the lot.

38. In the event that a Bidder's payment is dishonoured upon presentation, Bidder shall pay the maximum statutory processing fee set by applicable law.

39. If any Auction invoice submitted by Auctioneer is not paid in full when due, the unpaid balance will bear interest at the highest rate permitted by law from the date of invoice until paid. Any invoice not paid when due will bear a fifteen percent (15%) late fee on the invoice amount or fifteen percent (15%) of any installment that is past due. If the Auctioneer refers any invoice to an attorney for collection, the buyer agrees to pay attorney's fees, court costs, and other collection costs incurred by Auctioneer. If Auctioneer assigns collection to its in-house legal staff, such attorney's time expended on the matter shall be compensated at a rate comparable to the hourly rate of an independent attorney.

40. In the event where a successful Bidder fails to pay any amounts due, Auctioneer reserves the right to sell the lot(s) securing the invoice to any under-bidders in the Auction that the lot(s) appeared, or at subsequent private or public sale, or re-list the lot(s) in a future auction conducted by Auctioneer. A defaulting Bidder agrees to pay for the reasonable costs of resale commission, if consigned to an auction conducted by Auctioneer). The defaulting Bidder is liable to pay any difference between his total original invoice for the lot(s), plus any applicable interest, and the net proceeds for the lot(s) if sold at private sale or the subsequent hammer price of the lot.

41. Auctioneer reserves the right to require payment in full in good funds before delivery of the merchandise.

42. In the event that a Bidder's payment is dishonored upon presentation, Bidder shall pay the maximum statutory processing fee set by applicable law.

43. By placing a bid or otherwise participating in the auction, Bidder accepts these Terms and Conditions of Auction, and specifically agrees to the dispute resolution provided herein. Consumer disputes shall be resolved through court litigation Non-consumer dispute shall be determined in binding arbitration which arbitration replaces the right to go to court.

Liability of the Auctioneer:

44. Auctioneer shall in no event be responsible for consequential damages, incidental damages, compensatory damages, or any other damages arising or claimed to be arising from the auction of any lot. In the event that the Seller cannot deliver the lot or subsequently it is established that the lot lacks title, or other transfer or condition issue is claimed, in such cases the sole remedy shall be limited to rescission of sale and refund of the amount paid by Bidder;

45. No claims of any kind can be considered after the settlements have been made with the consignors. Any dispute after the settlement date is strictly between the Bidder and consignor without involvement or responsibility of the Auctioneer.

47. These Terms & Conditions provide specific remedies for occurrences in the auction and delivery process. Where such remedies are afforded, they shall be interpreted strictly

Other rules:

48. Agreements between Bidders and consignors to effectuate a non-sale of an item at Auction, inhibit bidding on a consigned item to enter into a private sale agreement for said item, or to utilize the Auctioneer's Auction to obtain sales for non-selling consigned items subsequent to the Auction, are strictly prohibited. If a subsequent sale of a previously consigned item occurs in violation of this provision, Auctioneer reserves the right to charge Bidder the applicable Buyer's Premium and consignor a Seller's Commission as determined for each auction venue and by the terms of the seller's agreement.

Future correspondence:

49. Acceptance of these Terms and Conditions qualifies Bidder as a client who has consented to be contacted by The Auctioneer in the future. Participation by the Bidder is affirmative consent to being contacted at the phone number shown in his application and this consent shall remain in effect until it is revoked in writing. The Auctioneer may from time to time contact Bidder concerning sale, purchase, and auction opportunities available through The Auctioneer and its affiliates and subsidiaries.

Updated: 11 February 2019