Here you will see our auction calendar with all the scheduled online auctions listed:
Click on “Create Account / Login” where you will create your user account. This account (username and password) will then be used for all future auctions.
Once your online bidding account has been set up, click on “Login” to log into your account. Now you can browse all the auctions listed and find the auction you are interested in.
Each auction’s information can be found if you click on “Auction Information” on the right hand side of the screen. This includes all information including deposits, commission, banking details, fica requirements and much more!
Once you have decided to register for an auction, click the ‘Register to bid’ button, agree to the general auction terms and conditions and click on “confirm”. Your profile would then say “Pending auction approval”.
You will need to send the following to auctions@cahi.co.za for final approval:
Once the above documentation has been received your registration will be approved and you can start placing bids as soon as the auction has opened for bidding.
Please ensure you register at least 24 hours in advance of the auction closing to ensure you are approved in time.
Each lot can be bid on ‘online’ over a defined period of time (typically 24 hours). At the end of the period, the bidder who has submitted the highest bid wins the lot, provided the bid exceeds the reserve price should it be sold subject to confirmation (STC).
All timed online auctions have an end-time displayed on the lot page. You can bid at any point from when the auction opens to when it closes. On the final day, lots close sequentially at regular intervals (normally 1 or 2 lots every minute). A count down timer is visible on each lot, showing the specific lot’s closing time.
So you’ve found the lot you’d like to bid on. On screen you will see the ‘Current bid’ as well as the “asking bid” amount (if there are no bids on the lot yet the ‘Starting bid’ amount will show).
You can then either click on the blue button with the requested bidding amount and agree to your bid or you can enter your maximum bid.
Entering your maximum bid will in other words be the most you are willing to bid using our pre-determined bidding increments, and the system will do the rest.
The system will bid intelligently for you, bidding just enough (incrementally) to keep you in the lead up to your maximum bid.
When you place your bid, you’ll see on screen immediately if your bid is high enough to make you the ‘highest bid’. If at any point someone bids higher than your maximum bid, the on screen message will change to “You have been outbid” and we will also send you an ‘outbid alert’ via email to let you know, so you can decide whether to bid more. Please don’t rely on the email alone, rather check on the item periodically.
If a bid is placed within the last two/five minutes (specified per auction) of the defined time period, a ‘lot extension’ kicks in and keeps the lot open for a further two/five (specified per auction) minutes.
This is to stop ‘sniping’ – a practice used by bidders to place bids in the last few seconds to prevent other bidders being able to respond before the auction closes.
Please note that the extension of one lot’s closing time does not affect other lots’ closing times. However you can keep an eye on more than one lot by going to your watch list.
After the auction has finished the lots you have won will be invoiced to your email address.
All due payments will have to be done within 24 hours after closing of the auction and collection of assets will have to be done in the time specified for each auction.
For any further assistance or information, please feel free to contact us at:
012 940 8686 or auctions@cahi.co.za.
