Clearing Sales and What To Expect
Successful clearing sales don't happen by accident. They require a committed vendor, a skilled agent, thorough planning and careful execution. Most of us have been to a clearing sale or two and it looks simple, doesn’t it? The items for sale are all lined up, you register to bid, the auctioneer moves fairly quickly down the line, you pay for your purchases and cart them home. All done and dusted within a few hours. Like most things that appear simple, the reality is a bit different and a clearing sale takes careful preparation from the vendor (the seller) and the agent.
We’d like to share a few thoughts on preparing for a clearing sale. The preparation is a team effort between vendor and agent, and you will rely on your agent’s experience and expertise to ensure a smooth process.
- Start your preparation early. Discuss with your agent what you want to sell so that the clearing sale can be planned.
- Choose a date. Consider local events, financial factors, the logistics of preparing the sale items and the marketing campaign. If your property has been sold and you don’t have a contract clause allowing for a later clearing sale, you will need to consider the settlement date.
- Book a caterer. This is usually a BBQ with proceeds going to a local charity. It might be a school, service club or something like the Westpac Rescue Helicopter.
- Prepare the item list. The list will be used in print and digital advertising.
- Potential purchasers will expect photographs of major (and sometimes minor) items to be published on the internet or available to be emailed. You will need to consider how your items “present” in a photograph and whether they have any special features that should be promoted.
- Collate any Operation Manuals for machinery so that they can be handed over on the day of sale. Similarly, registration papers for vehicles will need to be given to the purchasers. Ensure that you have keys ready to show that machinery/vehicles will turn over on the morning of the sale.
- Prepare the site of the sale. The selling order of the sale items is extremely important. There will need to be a sheltered area for the office and a suitable spot for the BBQ. Workplace Health and Safety responsibilities must be met.
- As soon as advertising begins, you can expect to field calls from potential purchasers. We recommend that this is not the time to be on holidays or otherwise out of contact.
- On sale day, be prepared to answer further queries from potential purchasers and to make decisions regarding sale items.
- Work with your agent/auctioneer and enjoy the day.
If you’d like to discuss clearing sales, please contact David Carter on 0438 453 172.
Clearing Sale Bidder Pre-Registration Requirements
Please complete this form if required after consultation with David Carter Property & Livestock. By completing this online form, you agreeing to the Terms and Conditions set out below:
- All intending bidders must register to the satisfaction of the Auctioneer prior to bidding at the auction sale.
- A bid cannot be made or accepted after the fall of the hammer.
- The highest bidder shall be the purchaser at the price called by the Auctioneer at the fall of the hammer, subject to a reserve if any. In the event of a disputed bid the Auctioneer is the sole arbitrator of the successful bidder or the Auctioneer may decide, at his/her absolute discretion, to put the lot up again.
- The Auctioneer may refuse to accept any bid which in the Auctioneer's opinion is not in the best interests of the vendor and need not give reasons for doing so.
- A bidder shall be deemed to be a principal unless, prior to bidding, the bidder has given to the Auctioneer a copy of written authority to bid for or on behalf of another person.
- The auction on shall be conducted on the basis that the bid price shall be exclusive of Goods and Services Tax (GST). GST shall be added after the fall of the hammer for those sale lots subject to GST.
- All lots are sold without any warranty or representation on as to title, ownership, fitness for use, safety (under the Work Health and Safety Act 2011 (NSW) or any other state safety legislation), quality or otherwise. All lots are open for inspection prior to the commencement of the sale and are sold with all faults, if any. All conditions and warranties expressed or implied by law are excluded to the extent that the law allows. No compensation shall be given for any faults, imperfections, errors in description, number in or of any lots sold.
- All lots shall be at the purchaser's risk immediately after the fall of the hammer. Such risk includes but is not limited to loss of the property the subject of the sale and any damage caused directly or indirectly by the property.
- Terms are strictly cash or approved cheque inclusive of GST if applicable and payable on the day of sale, not later than 4.00pm. The purchaser is not entitled to possession of the Goods which constitute the lot until payment has been made in full and the Auctioneer has authorised release of the lot.
- If delivery is made to, or possession obtained by, the buyer or its representative before full payment of the Price, then until full payment is received, the buyer:
- a) does not acquire title to the Goods;
- b) holds the Goods as bailee only for the vendor;
- c) must act in a fiduciary capacity in its relationship with the vendor;
- d) must store the Goods so that they are readily distinguishable from other Goods owned by the buyer;
- e) is responsible for the Goods;
- In addition to Condition 10, if payment is not made according to Condition 9, but delivery has been made to, or possession obtained by, the buyer or its representative:
- a) The vendor or its agent may repossess and resell the Goods and enter property owned or occupied by the buyer or its representative if necessary to do so; and
- b) Interest may be charged at the rate usually charged by the agent for overdue accounts on any amounts which remain owing at any time.
- Prospective purchasers of major items of PLANT are advised that special arrangements may be made with the auctioneers PRIOR TO SALE for an extension of time for removal purposes.
- Every person at the auction site before, during or after the sale shall be deemed to attend at his or her own risk and to have noted and accepted the conditions of sale and the condition of the premises.
- In the event that the buyer pays the Price or part of it direct to the vendor then the agent has no liability to the vendor for the amount of such payment.
- The Auctioneer has been retained by the vendor for the purpose of selling the Goods comprised in the lots. The terms of engagement between the Auctioneer and the vendor do not extend to the provision of advice by the Auctioneer to the vendor, to any prospective bidder or to any other person, in relation to the safety or otherwise of the auction site and the surrounding environments.
- Nothing in these terms and conditions shall render the Auctioneer in any way whatsoever liable to the buyer, nor entitle the buyer to set off against the Auctioneer any rights the buyer may have against the vendor or otherwise.