At NUco Auctioneers in Centurion, we are considered as industry-leading auctioneers in Pretoria and South Africa due to our years of experience and our successful track record. This knowledge that we have acquired from over a decade of hosting prestigious heavy equipment and truck auctions has awarded us with the ability to give consumers insights and guidance into the auction world.
Many consumers who have never visited an auction before, or who have had a bad experience at an auction in the past, may have heard, or spread, misconceptions and myths around the industry. Here is a list of common auction myths that we would like to debunk with facts in order to give you peace of mind when buying or selling at one of our heavy equipment and truck auctions in Pretoria, or any other auction.
Common Auction Myths Debunked
Myth: Auctions Do Not Make Provision for Inspection
Fact: It is best practice for auctions to make ample provision for vehicle and asset inspection, either on the day or before the day of the auction. At NUco’s onsite auctions, we host a viewing day before each and every auction which gives our buyers the opportunity to view and inspect the lot items before placing a bid.
Myth: Auctions Are Not for Beginners
Fact: Although people may be intimidated to try a new method of purchasing high-quality assets, auctions definitely welcome beginners and first-time buyers. At NUco Auctioneers, we go the extra mile to assist our first-time buyers by giving them all the resources and information they need before they even register.
Myth: Auctions Often Involve Hidden Costs
Fact: Auctions do not involve hidden costs, all costs are stated clearly on the website and registration forms so that buyers come prepared. At NUco, for example, these are the costs our first-time buyers need to be aware of:
- 10% commission on the fall of the hammer, excl. VAT
- 15% VAT (VAT not applicable to all assets)
- R2000 DOC fee, excl. VAT, on all items with registration documents
Myth: There Are Not Many Auction Opportunities in South Africa
Fact: At NUco Auctioneers, our auctions, which are hosted every three weeks and mostly based in Pretoria, Gauteng, offer the mining and construction industry regular opportunities to expand their fleet while enjoying substantial savings. View our auctions page for more information on our upcoming auctions and embrace the opportunity to upgrade your equipment affordably.