In a previous blog, we discussed how to prepare for auctions at NUco Auctioneers. Building on this, we have decided to give first time bidders some additional industry tips in order to ensure that you get the best experience. Before attending one of our auctions, you are welcome to read through our first time buyer FAQ, and feast on the below tips and suggestions for our upcoming commercial vehicle and truck auctions in Gauteng.
Be Prepared in Order to Make Informed Decisions
In order to adequately prepare for an auction, you should do your homework prior to the date. On our individual auction event pages you will be able to find a catalogue of the items on auction. This allows you to conduct further research so that you can make an informed decision. You are also more than welcome to contact us with any enquiries and, as mentioned above, newbies can check out our FAQs for first time buyers.
Inspecting the Vehicle
Prior to the auction, you will be given the opportunity to inspect the vehicles and other heavy equipment before bidding begins. You are welcome to bring a friend or colleague along with you to help you with the inspection process, especially if they have more mechanical knowledge and experience than you. It is important to take the inspection process seriously in order to offer a well-informed bid, and to ensure satisfaction with the item.
At NUco Auctioneers we encourage participants to view our stock beforehand by hosting a viewing day before each and every auction. The viewing day is always set for the day before the auction, from 08h00 – 17h00. On the viewing day, our yard manager and staff are also available to assist with the inspections, starting the vehicles and heavy equipment, and to attend to any additional queries.
Remember to Register
In order to register for auctions at NUco Auctioneers you will need to bring along the following:
- R20 000 deposit (refundable) via EFT or swiping your card onsite.
- FICA documentation in the form of your ID.
- Proof of residence (in the form of a water and lights, telephone or electricity bill).
You can register the day before the auction on-site and collect your auction buyer’s number for bidding. Alternatively, you can call the offices 48 hours before the auction to complete your registration via telephone and pay your deposit via EFT.
The Bidding Process
For the bidding process, there are a few general auction tips that people who are new to the process can follow in order to help you make well-informed decisions. These industry tips include the following:
- Pay attention during the bidding process and don’t get distracted, you do not want to miss out on a good deal.
- Buy based on fact and not emotion. Stick to the decisions you made beforehand.
- Use the research you completed during the preparation and inspection phases in order to set a budget.
- Follow the rules and regulations of the auctioneers.
Using the above tips, you can ensure that you will be satisfied with the purchases that you made on auction day. Our years of experience ensure that the construction and mining industry in South Africa has the opportunity to take part in our auctions for massive savings. We hope to see you at our next auction; view our upcoming auction dates here.