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About Us

Auction Inc is one of South Africa’s leading auction houses and the leader in on-site auctions with a team of specialists boasting 60 years in the field. Despite our size, our brokers offer down-to-earth, personalised and transparent service as we guide you through the auction process - whether you’re a motivated buyer or serious seller.

Established by our chairman, industry giant Mike Nkuna of Masingita Property Services and Eddie Winterstein, an auctioneering legend who has wielded the auction hammer for over 40 years, our integrity is rooted in our proud history. Led by our CEO Ari Ben, our focus is on service through innovation and technology.

Buying on auction

When you’re looking to buy a property the last thing you have time for is a seller just ‘testing the market’. And then there is the traditional method of selling property which often results in back and forth negotiation with limited or no results. There has to be a better way - and there is: buying on auction with AuctionInc.

Our on-site auctions, and those held in our prestigious boardroom at Masingita House, offer a transparent and efficient process with integrity at its core. Whether it’s your first time or you’re a seasoned buyer, our team are there to help.

  1. View the property

    1
  2. Partner with an AuctionInc property specialist for any advice

    2
  3. Register as a qualified bidder

    3
  4. When the action begins, keep bidding until the property is yours at the price you’re happy to pay

    4
  • No months of waiting

  • only deal with committed sellers

  • No inflated prices

here are some of our most asked
questions Answered

  • How can I stay informed of upcoming auctions?

    Visit our website and click on the Newsletter link to sign up to receive our weekly newsletter which showcases upcoming auctions. You can also email info@auctioninc.co.za to sign up.

    Log on to our website periodically to see what’s new, what auctions are coming up as well as special notifications and more.

  • Can I go to the banks for a loan when buying on auction?

    Yes, one can go to the banks for a loan when buying on auction however purchasing property on auction is not dependant on bank finance so please only bid if you have the funds available.

    It’s vital to go to your bank prior to attending an auction to ensure they will grant a bond. You will need to know how much they will loan you and this depends on your financial standing as well as the value of the property you intend to purchase.

  • What is the difference between an on-site auction and a multi-property auction?

    An on-site auction is held on-site at the property that is on auction at a predetermined time and date. The on-site auction is specific to bidders interested in the purchase of that particular property.

    A multi-property auction is held at one of our exclusive venues where numerous properties are auctioned. The multi-property auction extends itself to a broad spectrum of bidder’s who may be looking at a specific property or at the purchase of various other properties available at the auction.

  • Can I buy a property before the auction?

    This is permissible on rare occasions and should be discussed with the broker directly.

  • How do I view the property before buying it on auction?

    Certain properties have a viewing session an hour prior to the auction. Other properties may be viewed by setting up an appointment with the broker who will arrange a convenient time with the seller. This is not always possible but the broker will do his/her best to set this up.

  • What are the deposit requirements if my bid is successful?

    A 15% deposit is payable on the fall of the hammer by way of EFT.

    The 15% is made up as follows on a bid price of R1 000 000:

    Bidder’s premium 10%  R100 000

    VAT on bidders premium 15% R15 000

    Residual deposit toward purchase 3.5%R 35 000

    TOTAL DEPOSIT 15% R150 000

  • What do I need to bring to an auction in order to bid on a property?

    Arrive an hour prior to the auction to view the property, register for the auction and receive a bidders card.Ensure you have read the rules of auction and that you comply. Please bring your FICA documentation (copy of your ID and proof of address - less than 3 months old). Sign the bidder’s record and registration form. Any successful bidders bind themselves to the conditions of sale.  These conditions of sale are binding for all of the properties on auction. The Sales Agreement (Conditions of sale) cannot be altered under any circumstances and apply in totality. Should the bidder not be an RSA citizen, a copy of the passport and proof of residence is required. 

  • Can I bid on someone’s behalf?

    Anyone bidding on behalf of a company or individual must produce an authority to transact and bring the documentation listed below.

    If purchasing in a company name you will need:

    • The company’s tax clearance certificate.
    • A copy of the company registration form CM1, CK41, CM 46, CM 49,
    • Front page of the memo of articles
    • A utility bill from the company
    • CM 29 or official resolution from the company giving permission for the representative from the company to bid.

    Should the bidder not be an RSA citizen, a copy of the passport and proof of residence is required. 

  • How do I know if I am protected when buying on auction and if the company is reputable?

    All our auctions comply with Section 45 of the Consumer Protection Act 6.8 of 2008 and governing regulations thereto. In terms of the Estate Agency Affairs Act all moneys received for the benefit of the buyer or seller will be retained in a trust account. On acceptance of the offer by the purchaser, these will be paid over to the conveyancers less the agreed commission. Property auctioneers should be accredited by EAAB (the Estate Agents Affairs Board) and  SAIA (The South African Institute of Auctioneers).

  • How will I know when to bid and in what increments?

    The auctioneer will explain how the bidding process works prior to the auction. Bidding can be done by raising your hand or lifting your bidder’s number as long as the auctioneer sees your bid.

    There is no starting price, so the first bid is taken by the auctioneer from the attendees.  The auctioneer holds the sole right to regulate the advance in bidding. All AuctionInc. auctions are subject to reserve price which is confidential.

    The Auctioneer and a representative of AuctionInc. are entitled to bid on behalf of the owner.  If there is not competitive bidding the auctioneer has the right to withdraw the property from auction.

    Should there be a dispute between buyers, the auctioneer will resell the property or declare purchaser.  The Auctioneers decision to that effect is final. 

  • What are the next steps after buying a property on auction?

  • Who pays for the transfer of the property when buying on auction?

    The purchaser bears all the costs relating to the transfer of the property.

  • Who pays for the compliance certificates, levies, rates and taxes for the property when buying on auction?

    The seller is responsible for suppling an electric and gas certificate for the property. And all outstanding Rates and Taxes/Levies will be paid up until date of occupation by the seller.

  • Who selects the transferring attorney when buying on auction?

    The seller has a legal right to assign the transferring attorney who will require valid sellers and buyers tax certificate to conclude the transfer.

  • Is my deposit refundable?

    Yes, your deposit is refundable if you are not the successful purchaser or if your offer is declined.

our
People

When buying or selling a property, we know how much is at stake. A serious seller wants to get the best possible price for their property and move on, while a buyer wants the most value for their money.

You can’t afford months of back and forth hassles or a process you can’t trust. Our specialist brokers are there to walk you through a transparent process. We don’t believe in area-specialists; each property and each person is different - there is no one-size-fits-all.

Our diverse and skilled brokers are totally invested in your success and put your property first.

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