Frequently Asked Questions

 

A formal auction is a public sale in which goods or property are sold at a specific time and place to the highest bidder. The auction is conducted by a professional auctioneer and participants bid openly against one another, with each bid being higher than the previous bid.

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Upcoming formal auctions are published in our online calendar. You can also browse featured lots, upcoming auctions and past auctions in our Formal Auction Environment.

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To participate as a bidder in a formal auction:

  1. You, or your duly authorised representative(s), must register for the specific formal auction. For more information about how to register, please refer to “How do I register as a bidder?” below.
  2. You, or your duly authorised representative(s), must attend the formal auction in person. 
  3. You, or your duly authorised representative(s), must comply with the rules of the auction. For your convenience, the specific rules of each auction event is attached to the auction event listing.

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Basic Sense is required by sub-regulation 26(1) of the Consumer Protection Act 68 f 2008 (“CPA”) to record the identity of all bidders at an auction.

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There are two ways to register for an upcoming auction:

  1. You can quickly and conveniently register online by completing the “Pre-Registration Form” attached to the bottom of each published auction event listing. 
  2. You can register in person on the day of the auction at the registration desk (prior to commencement of the auction).

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Yes you can! Buying or selling on an auction for the first time can be very intimidating and we understand the need to “scope things out”. Non-participants are not required to register for the auction and may observe the proceedings in a non-obstructive manner. 

Please check the relevant auction event listing for more information about refreshments and coinciding entertainment available during the auction.

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On the day of the auction you must sign in at the registration desk to obtain your bidder’s card. If your identity has not yet been verified (FICA’d) by Basic Sense, you need to submit all your required FICA information and documents at the registration desk before your bidder’s card will be issued. To see what FICA information and documents we require from you, please click on the following link: FICA Requirements

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Each participating bidder is issued a unique bidder’s card which they must raise to signify a bid to the auctioneer.

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First-time participants or observers are usually a bit nervous about twitching a muscle during an auction, because they are afraid that any minute movement might be seen as a bid.

Relax, our seasoned auctioneers have seen it all and only accept bids from participants that raise their bidder’s card.

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Check the specific auction event listing or featured lot listing for viewing information. Some lots can be viewed on the auction date (prior to commencement of the auction) whilst others can only be viewed on an appointment basis. We urge buyers to come to the viewing days, as most of the items are sold Voetstoots. 

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No, you can not cancel your bid after the hammer falls on you.

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The payment rules for each auction depends on the nature of the items that are being sold. Generally it is on the day of the auction. The payment rules are published in the buyers guide, and is also announced by the auctioneer at the beginning of the auction.

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We prefer EFT payments. We do accept cash, debit and credit card payments at the Formal Auction Events, but they are subject to an admin fee of 3.5% of the invoice amount.

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Items can only be collected once full payment reflects in our FNB account. Collection times and terms are announced by the auctioneer at the beginning of the auction and are also published in the Buyers Guide.

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Items are generally sold voetstoots and without suspensive conditions. In other words, as long as they are conducted in compliance with the CPA, auctions are exempt from the statutory consumer protection regulations that govern the quality of goods and give buyers cooling-off periods, warranties and opportunities to return defective goods.

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BENEFITS TO THE SELLER:

Buyers come prepared to buy
Quick disposal reduces long-term carrying costs, including taxes & maintenance
Assurance that item will be sold at true market value
Exposes the item to a large number of pre-qualified prospects
Accelerates the sale
Creates competition among buyers — auction price can exceed the price of a negotiated sale
Requires potential buyers to pre-qualify for financing
The seller knows exactly when the property will sell
Eliminates numerous and unscheduled showings
Takes the seller out of the negotiation process
Ensures an aggressive marketing program that increases interest and visibility

BENEFITS TO THE BUYER:

Smart investments are made as items are usually purchased at fair market value through competitive bidding
The buyer knows the seller is committed to sell
In multi-item auctions the buyer sees many offerings in the same place at the same time
Buyers determine the purchase price
Auctions eliminate long negotiation periods
Auctions reduce time to purchase items
Purchasing and closing dates are known
Buyers know they are competing fairly and on the same terms as all other buyers
Buyers receive comprehensive information on items.

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Yes you must provide proof of ownership.

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Yes you may set a reserve price on an item. If the reserve price is not met on the auction then there is automatically a "No Sale". It is better to sell items Subject to Confirmation (STC). This method enables the auctioneer to negotiate a sale between the highest bidder and the seller after the auction has been concluded.

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You may remove your listed item from the auction roll subject to paying a handling fee of 10%, charged on the low estimated value of the item agreed by the seller when it was booked in.

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As a FICA Authorised Representative you may buy and sell on behalf of someone else.

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You can access the majority of our online services without having to register, but getting an account will allow you to:

  • Create up to 5 Classifieds Listings per day.
  • Create a Basic Directory Listing.
  • Bid on Online Auction Lots.
  • Comment on Blog Posts.
  • Add listings to your Favourites List.
  • View a convenient list of all your active online auction lots.
  • View your Formal Auction Pre-Registrations.
  • View your invoices.
  • Use more advanced text editing tools.

Having a user account gives you a fixed Basic Sense identity that other users will recognise. Quality listings and fair dealing under a username lets you build a reputation of trust and respect with other users.

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To register for a new user account, follow these easy steps:

  1. Go to the Basic Sense registration page.
  2. Enter your information in the required fields.
  3. Click on the “Create new account” button.

Please Note:

  • To combat spam registrations, all registrations are subject to approval by the Basic Sense Administrators. After completing the registration page, a welcome message with further instructions will be sent to your e-mail address. 

  • Once your registration has been approved, you will receive another e-mail containing information about how to log in, set your password, and other details.

  • Due to the high volume of registrations we receive we ask that you please be patient. Our Administrators will attend to your registration within 24 hours. 

  • If you do not receive the welcome email shortly after completing the registration page, please check your “Spam” or “Junk E-mail” folders in case the message was routed to one of these folders by your email functionality, instead of your inbox.

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Yes you can! Each user account requires a unique and valid e-mail address.

You can register a user account for yourself (as an individual) and then register a user account for your business.

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Your user account “private information” is confidential and can only be viewed by yourself and the Basic Sense Administrators. Please note that the Basic Sense Administrators cannot view your password.

The only information contained in your user account that can be viewed by members of the public is your 1) Display name, 2) About me description and 3) Profile picture.

If you are a Legal Entity (business, partnership, etc.) or a Sole Proprietorship, you can create a business listing and select to display your business listing as your “Public profile”.

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First time login for new users

  • Once your registration has been approved, you will receive an e-mail containing a unique one-time log-in link. The link can only be used once and will expire 24 hours after issue.
  • Click on the one-time link / copy and paste the link into your browser. The link will lead you to a page where you can set your password.

Normal login for existing users

  • Click on the "Customer Zone" link located in the main menu and the log-in page will open. 
  • Enter your email address and password.
  • Click on the “Log in” button.

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Hover over the "Customer Zone" link located in the main menu. The “Log out” link will appear under the Customer Zone link.

Click on the “Log out” link.

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If you’re currently logged in to your user account, follow these steps:

  • Click on the "Customer Zone" link located in the main menu.
  • Click on the “My Account” user-button located below the main menu.
  • Click on the “Edit my Account” tab located above your profile page.
  • Click on the “Request new password” link located under the “Current password” field. The link will lead you to a page where you can set your password. 
  • Click on the “E-mail new password” button and log out of your user account. A message with further instructions will be sent to your e-mail address.

If you’re currently logged out of your user account, follow these steps:

  • Click on the "Request new password" tab on our log in form.
  • Enter your email address.
  • Click on the “E-mail new password” button. A message with further instructions will be sent to your e-mail address.

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You can change your password by following these steps:

  • Click on the "Customer Zone" link located in the main menu.
  • Click on the “My Account” user-button located below the main menu.
  • Click on the “Edit my Account” tab located above your profile page.
  • Enter your current password in the “Current password” field
  • Enter your new password in the “Password” and “Confirm password” fields.
  • Scroll down to the bottom of your account page and click on the “Save” button.

If you’ve forgotten you current password, please follow the steps listed in “I've forgotten my password”.

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You can update you user account details (e.g. display name, profile picture, contact details, etc.) by following these steps:

  • Click on the "Customer Zone" link located in the main menu.
  • Click on the “My Account” user-button located below the main menu.
  • Click on the “Edit my Account” tab located above your profile page.
  • Edit the fields you want to update.
  • Scroll down to the bottom of your account page and click on the “Save” button.

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To cancel your user account, follow these steps:

  • Click on the "Customer Zone" link located in the main menu.
  • Click on the “My Account” user-button located below the main menu.
  • Click on the “Edit my Account” tab located above your profile page.
  • Scroll down to the bottom of your account page and click on the “Cancel account” button.
  • You will be directed to a confirmation page where you must click on the “Cancel account” again to confirm your cancellation. 

Your account will be blocked and all of your content will be unpublished. As a registered second hand goods dealer and auctioneer, Basic Sense is required by law to retain your account information for a period of five (5) years after which it will be deleted.

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Actions that result in a user account being cancelled:

  1. You (or someone who knows your log-in credentials) cancelled your user account. It's possible to manually cancel your user account from your “My Account” page, but only after verifying account ownership by logging into your user account using your confidential log-in credentials.  

  2. Your account was inactive for over one (1) year. If you rarely use your user account, it will go into an inactive state and then be cancelled. 

  3. Your account was used in a manner that violates our Website Terms and Conditions of Use.

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If you are not receiving the website’s automated e-mails, please check your “Spam” or “Junk E-mail” folders in case the messages were routed to one of these folders by your email functionality, instead of to your "Inbox".

If the messages are not in your “Spam” or “Junk E-mail” folders, please contact Basic Sense for assistance. >> Our online contact form <<

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When you see the “FICA Verified Account” badge on a user’s account it means that the user’s identity has been established and verified by Basic Sense in accordance with the regulations of the Financial Intelligence Centre Act 38 of 2001 (“FICA”).

verified account

  FICA Verified Account

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As a registered second hand goods dealer and auctioneer, Basic Sense is required by law to establish and verify the identity of any person:

  1. from whom second-hand goods are acquired
  2. who registers to participate as a bidder at a formal auction event
  3. who registers to participate as a bidder in an on-line auction

To promote our verified customers on the Basic Sense Website, we distinguish their user accounts with the “FICA Verified Account” badge. Being a Basic Sense “FICA Verified Account” holder increases your credibility and encourages buyers’ trust.

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You need to provide Basic Sense with all your relevant FICA information and documents. To see what FICA information and documents we require from you, please click on the following link: FICA Requirements

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To report a user that you feel may have violated our policies, follow these steps:

  • Go to the user’s profile page by clicking on his/her name.
  • On the user’s public profile you will find a link “User Abuse - Report User”. Click on the “Report User” link and the report form will open.
  • Complete the form, providing as much information as possible, and click on the “Report User” button.

To report published content that you feel may have violated our policies, follow these steps:

  • Go to the offending content page (classified listing, business listing etc.).
  • At the bottom of the content page you will find a link “Report as Offensive”. Click on the “Report as Offensive” link and the report form will open.
  • Complete the form, providing as much information as possible, and click on the “Report as Offensive” button.

To report a comment that you feel may have violated our policies, follow these steps:

  • Go to the offending comment.
  • At the bottom of the comment you will find a link “Report as Offensive”. Click on the “Report as Offensive” link and he report form will open.
  • Complete the form, providing as much information as possible, and click on the “Report as Offensive” button.

Please Note:

  • We do not investigate simple misunderstandings and personal disputes between users.
  • We are aware that you feel strongly about your complaint, or you would not have taken the trouble to report this listing, but without adequate evidence we cannot act.
  • We respect the privacy of our users, therefore we will not discuss the outcome of an investigation. However, we might contact you to tell you that an investigation is complete.
  • Before we take action against a user, we consider the circumstances of the violation and the user's record. Our actions may include removing listings, limiting privileges and account suspension.

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