Auction
Important Information: – See Lots 1 - 5 for Important Information Prior to Placing Bids
Auction End Date: Lots 1015– 10294 from 1pm Tuesday 12th November 2024
Final Payment Date: 12 Noon Thursday 14th November 2024 – No Exceptions
Collections by Appointment Only – Friday 15th November 2024
Site will be Open Between - 9.30am – 3.00pm
Lots are located at Kumar & Company Limited
Industrial Unit 1
North Street
Walsall
WS2 8AU
All lots are subject to VAT at 20% on Hammer Price & on the 16% Buyer's Pre
Please Note: Bidders who fail to pay their invoice by the payment deadline will be reported to Bidspotter/iBidder and will be subject to platform-wide suspension or a ban of all current and future accounts created unless outstanding invoices are settled. Non-payment does not automatically lead to your invoice being forfeited as all bids made are legally binding as per our standard terms and conditions of sale to which all bidders agree to pre-auction sign up.
Legal action to recover amounts per outstanding invoices will be taken. Bidspotter/iBidder make audit trails available, we can see all bidder activity across each lot.
Do not bid unless you aim to complete your transaction(s) in the auction-specified time frame.
All lots subject to VAT at 20% on Hammer & on Buyer's Premium.
Please Note – Collection by Prior Appointment Only – Please Contact Us after Paying Your Invoice to Make Collection Appointment on the Dates specified Above.
Please Read Terms & Conditions and All-Important Information
Sale Currency: GBP
Method Statements & Risk Assessments will be Required Prior to Machinery Removals – See Specific Lots for Further Information.
VAT: Purchasers will be charged Value Added Tax on all lots where applicable
Other Information:
The bidder, prior to bidding, should confirm the condition and function of an item. There will be NO Refunds or Allowance given after the closure of the bidding process. Your bid is your commitment to purchase. Not to view or negotiate after the sale. Transgression of these rules will be reported to Bidspotter, and the bidder will be blocked from taking part in any future Bidspotter Sales.
___________________________________________________________________
Before You Bid Checklist
Please be aware that once you bid you are legally bound to pay your invoice, bids placed in auction cannot be removed afterwards. If you are unsure do not bid.
- · All Lots are subject to a 16% Buyer’s Premium subject to VAT
- · Payment from outside the UK will be subject to a £10 charge
- · Payment is to be made via Bank Transfer, or cash can be paid into our RICS Regulated “Client Account”
- · We do not accept card payments
- · We do not undertake packaging, postage, delivery or shipment of goods and the bidder must make his own arrangements to comply with the clearance terms
- · If you are exporting goods won in auction. The VAT on Hammer must be paid first; and will only be refunded on receipt of proof of export.
- · Please note that late payment and collection fees will be added where applicable
- · As this is not a retail sale, the Sale of Goods Act does not apply
- · Please note that all bids are final. We cannot retract a bid once it has been placed
Please Note after the end of bidding and when the auction is closed by Kumar & Company Limited - The online bidding platform will send a system generated Winners Notification to the email address used to create your Bidspotter Account for all successful purchasers.
It is important to Note at this stage your winner’s notification only reflects lots that successfully met reserve during the sale. Lots that did not meet their reserve will be reviewed and may appear on your subsequent invoice which will be sent within an hour of the auction closing.
This is due to vendors regularly asking us to reduce the reserves in the closing hours and accepting bids that have been made previously which may not have met their reserve.
Please remember when you bid - You bid to buy although reserves prices may not have been met at the time of placing your bid.
Therefore, please refer to our actual invoice that will be sent later today to see precisely which lots you have been successful in bidding on.
Please check your Junk Email Folder as sometimes our invoice can get filtered through to Junk mail even if the winner’s notification is successfully delivered.
________________________________________________________________
Viewing & Enquiries
To arrange a viewing or make an enquiry you must first register for this auction. Once your registration has been approved, please click the "Enquire about this lot" button. This will let us know exactly which lot you are enquiring about; and help us keep track of your enquiry.
24 hours’ notice is needed to arrange a viewing.
No viewings to be made in the last 24 hours of the auction.
Potential purchasers, who do not inspect lots prior to bidding, do so at their own
___________________________________________________________________
Important Information
Please ensure you have the correct company name, address, and contact details registered on the Bidspotter system prior to the sale closing. We reserve the right to charge £25.00 + VAT to change name and address details on invoices.
Details are provided in good faith. They should not be relied upon as fact and buyers must make their own investigations where measurements, mileages, hours, condition, or authenticity are critical.
Buyers should make themselves satisfied they are happy with the lot before they bid, as viewing is available on all lots by prior appointment, all bids are non-retractable.
Your Highest Bid will be treated as a valid bid even if at the time of placing it the RESERVE is NOT MET. Vendors regularly ask us to reduce the reserves in the closing hours and put items on sale.
Remember when placing a bid, you are bidding to buy!
Full payment must be made by 12 Noon Monday 21st October 2024. This is a legally binding contract to purchase, if you are not sure, do not bid. We are unable to cancel your purchase, after the auction closes.
RECORDED “USEAGE” READINGS: The hour and odometer readings on machinery and vehicles in this sale cannot be warranted and should not be relied upon.
COMPUTER SOFTWARE: Due to the Data Protection Act, all software and data will be removed from computers prior to selling.
_________________________________________________
Instructions for Bidding
In the event of a bid being received within 10 minutes of the scheduled closing time, the bidding period on that lot will automatically extend by a further 10 minutes and for a further 10mins for any bid received thereafter.
MAXIMUM BIDS: If more than one maximum bid is placed of the same amount, the maximum bid placed first will be considered the highest bid and a further bid will need to be to be placed to take the lead. Bidders are notified by an automated message, which appears on their screen
• IMPORTANT: When bidding, do not forget to ‘REFRESH’ your screen to ensure you are aware of current bids.
ACCEPTANCE OF FINAL HIGHEST BIDS – IMPORTANT NOTE:
Acceptance of all final highest bids is subject to approval by our client.
Kumar & Company Limited (KCL) reserves the right to reject any bids, which they feel does not reflect reasonable value
___________________________________________________________________
Clearance Terms
Clearance of all lots must be undertaken in accordance with Health & Safety at Work Regulations and, where necessary, Construction Design and Management Regulations 1994.
You will be required to provide a Work Method Statement and Risk Assessment approved by KCL, prior to removal of any lots.
KCL reserve the right to stop clearance if in their opinion, they believe it is being carried out in an unsafe manner or without the Method Statement and Risk Assessment.
The purchaser should ensure that their contractors hold sufficient public liability insurance, copies of which should be made available to KCL if demanded.
Any fluids remaining in any lots purchased MUST be removed from site in conformity with the Control of Substances Hazardous to Health (COSHH) Regulations.
___________________________________________________________________
Conditions of Sale
All lots will be sold subject to the Kumar & Company Limited Conditions of Sale, which can be downloaded from www.bidspotter.co.uk . Bidders are strongly advised to read them carefully as all transactions and dealings are conducted in line with the Conditions of Sale.
TRANSFER OF LOTS:
KCL will only accept payment from and permit removal of lots purchased by the successful purchaser or their duly appointed agent.
Mailing List:
All approved bidders will automatically have their details placed on a mailing list database for notification of futures sales undertaken by Kumar & Company Limited only. In the event that you wish to have your details excluded from our database please notify us by email admin@kumarandco.co.uk
OVERSEAS PURCHASERS:
Overseas purchasers must, on acceptance of offers, advise of their intentions to export their good immediately and notify Rajiv Kumar at rajiv.kumar@kumarandco.co.uk within 7 Days of auction closing
Overseas purchasers will be required to provide details of:
(a) Their passport(s)
(b) One other method confirming their identity, ie drivers licence, name,
address, UK agent (if any), telephone and fax numbers.
(c) Full details of their national bank and their UK corresponding bank.
(d) Details from their bank confirming method of payment, etc.
Please also ensure that:
(e) Your country, or the country to which the items are destined, holds no import restrictions on the goods that you wish to purchase.
(f) The country has no import licence restrictions or a restriction on currency allocation.
(g) The country has no prolonged inspection procedure, which might cause excessive delay in allowing your goods to be imported.
(h) You receive a fully descriptive invoice in order that you may arrange payment as soon as possible with our bank.
(i) You employ a reputable freight-forwarding organisation. Please note that many of the machinery removal companies in this country are not necessarily freight forwarders. We will be pleased to advise accordingly.
(j) You have read the Conditions of Sale.
Please Note:
(a) We will not allow removal of any Lot from the Sale site until our Accounts team has received notification from our bankers that your payment has been properly cleared in full. Monies must be transferred to ourselves within the time stated in the “Notice to Purchasers”
(b) If there are any special arrangements that you wish to make with us, you must contact us at least three days before the Sale date.
(c) Our terms regarding payment of VAT and subsequent refunds.
VAT on Goods Destined for Export:
All purchasers intending to export their purchases will be charged a deposit equal to that of the VAT due on each lot purchased.
In order to qualify for a refund, the goods must be exported in accordance with regulations under “Indirect Export” and valid evidence of export received by KCL within 7 Days of the date of the end of the auction. Where satisfactory evidence is not provided, goods will be subject to UK VAT at the standard rate of export and the deposit will not be refunded.
We are unable to refund the VAT on the buyer’s premium in any circumstances. Please ensure our accounts team have been notified of your intentions to export prior to removal of goods.
The above information must be supplied in writing to Mr R Kumar, Kumar & Company Limited, Unit 1 North Street, Walsall, WS2 8AU on your official company note paper and signed by the contact’s name quoted.
If you intend to export your purchases using your own transport (either by sea, rail, or air), then VAT will be levied and refunded upon receipt of satisfactory documentation, supporting removal of the goods purchased.
KCL reserve the right to refuse to accept the bid of any bidder should they be unable to satisfy on any of the above.