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Contact Info
Imperial Auto Auctions
19 Herman Road
Meadowdale
Edenvale (GPS ‘Germiston’)

Off R24 highway.
Next to Makro Germiston.
Between Barbara
and Edenvale offramps.

Map

General Enquiries
Call: 011 201 3700
J's House of Curry

PostHeaderIcon Auction jargon explained

Vendors:

  • Vendor - people or companies who supply vehicles to auctions.
  • Fleet Ownerships - supply ex-lease vehicles, most likely used by businesses for company fleet vehicles.
  • Manufacturer - supply vehicles directly from the factory/assemblers.
  • Dealer group / Wholesale auction - supply traded-in vehicles from Franchise dealerships.
  • Finance house / Bank Repossessions -  Vehicles offered are ex-financed/Repossessed vehicles, used by businesses for company vehicles or private individuals.

 Types of auction:

  • The sale - the auction.
  • Closed auction - the sale can only be attended by invited buyers (usually trade).
  • Open auction - a sale that can be attended by all potential buyers.

 Customers:

  • Trade - automotive dealers.
  • Private buyer - . the general public

 Auction list:

  • Catalogue - the listing of all vehicles to be offered for sale at the auction.
  • Lot number - the number allocated to the vehicle (and marked on the vehicle) going through auction, cross referenced in the catalogue.
  • The catalogue can be viewed on our website or one can register online to receive the catalogue weekly by email.

 Vehicle categories:

  • Remarketing - the sale of used vehicles on auction.
  • Non-runner -  a vehicle that won’t start.
  • Plant -  A broad term used for all miscellaneous items sold on auction.
  • Commercial vehicle - vans, trucks, trailers and taxi’s.

 Miscellaneous:

  • "Voetstoots" - Sold as is. All auction vehicles are sold as is and without guarantees.
  • 6% Buyer's fee - the fee payable on each vehicle (or lot) purchased.
  • 14% VAT - VAT (Value Added Tax) is payable on each lot sold and must be added to the bid price.
  • Handling fee. The admin fee charged by the auctioneer. This amount is payable on each lot sold.
  • Reserve price - the minimum price specified by the seller for which they are willing to sell the vehicle.  This information is confidential to the auctioneer.  If the reserve price is not met, the vehicle will be put forward for provisional sale.
  • Bid price - the price the vehicle is sold for, when the auctioneer states the vehicle is “soldâ€.
  • Pass out - the slip given upon vehicle payment needed for removing said vehicle off-site.
  • Key office - the office where keys for any vehicle will be held and released upon sight of the Pass out slip.
  • Vehicle Registration Document - (Natis papers), also known as the log book by our Durban Clients.
  • Warranted mileage - the vendor confirms the vehicle’s mileage is correct. Usually the case with Rental Fleet vehicles.
  • Provisional sale (STC - subject to confirmation) -  If a vehicle has not met the reserve price, the seller is contacted to see if they are willing to accept the highest offer made. It can also be at the request of the bank that a car or lot be sold subject to confirmation.