South African Million Dollar Pigeon Race

REGIONAL AUCTION CONDITIONS

The sale is subject to the conditions of the sale as on display and any announcement made by the Auctioneers at the commencement of and during the course of the sale. The seller and the purchaser are deemed to have knowledge of the applicable conditions of all the aforesaid announcements. The conditions and announcements are applicable to any sale before the commencement, during the course and after the conclusion of the auction and whether concluded by private treaty or otherwise.

Conditions of sale

1. The sale is conducted by AIR SPORT INTERNATIONALE as agents for the seller.  
   1. The sale shall be conducted in the absolute discretion, and under the sole control of the Auctioneers.
   2. Each bid shall constitute an offer to purchase for the amount thereof and may not be withdrawn, until refused.  
   3. The highest bidder shall subject to any provision herein contained and any reserve placed on any lot, be the Purchaser.
2. Any BONA FIDA error made by the Auctioneers shall not be binding on the Auctioneers, the Seller or the Purchaser, and shall be capable of rectification immediately upon its discovery.
3. The Auctioneers are in no way liable for or bound by:  
   1. Any representations or warranties contained in any advertisements or catalogues relating to the sale.  
   2. Any representations or warranties, expressed or implied, made or given by or on behalf of the Seller or any third party.  
   3. Damages suffered by any third party arising from any act or omission of any of the employees of the Auctioneers.  
   4. Any damage caused to or by any lot whilst under the care or supervision of the Auctioneers or any of its employees and whether arising before, during or after the auction.  
4. Each and every lot is sold voetstoots, without any warranty, guarantee, or representation and all risk appertaining to a lot shall pass to the Purchaser immediately upon the fall of the Auctioneer’s hammer, notwithstanding the fact that delivery to the Purchaser has not been affected.  
5. The purchase price is payable in cash to the Auctioneers immediately upon the conclusion of the sale whereupon the Purchaser shall be entitled to delivery of the lot purchased.  
6. Ownership of a lot shall remain vested in the Seller until payment of the purchase price has been affected by the Purchaser.  
7. The Auctioneers may at their sole discretion grant facilities to the Purchaser in respect of any lots acquired by the Purchaser at the Sale, in which event the seller’s ownership in the lot and his right to take action against the Purchaser shall IPSO FACTO be deemed to have passed, and have been ceded, to the Auctioneers.
8. In event of credit facilities being granted in terms of paragraph 8 above, the Purchaser acknowledges that the amounts owing for lots purchased by him become due and payable on the fall of the hammer and that interest will accrue at the rate of 5% higher than the ruling prime bank rate of the Auctioneer’s Bank.  
9. Should the Auctioneers be obliged to take action in terms of the provisions of paragraph 8 above in the event of the default of the Purchaser, the Purchaser shall be liable for all costs relating to the recovery of the amount owing, all damages suffered by the Auctioneers in consequence thereof and all legal costs on an Attorney and Client scale, plus collection charges at the ruling rate.  
10. No right of set-off which may exist between the Purchaser and the Seller shall be enforceable in respect of any right of obligation arising from the sale concluded in terms thereof.  
11. Any entry made in the Auctioneers’ vendu roll shall be conclusive evidence of the transaction recorded therein, and shall be binding upon the Seller and the Purchaser. A certificate issued by an officer or secretary of the Auctioneers reflecting the amount owing by the Purchaser shall be PRIMA FACIA proof thereof for purchases of any legal proceedings or for any other purpose.
12. The buyer will be responsible for the loss of or damage to lots purchased from the time of auction to date of collection. AIR SPORT INTERNATIONALE nor its servants or agents will thereafter be responsible for any loss or damage of any kind while any lot is in its custody or under its control.