1. HOW “SAAUCTIONSCARS” WORKS

1.1 SAAUCTIONSCARS (“SOUTH AFRICAN ONLINE AUCTIONS”) is only an on-line auction website where Automobiles is sold under various auction categories.

1.2 For you to use any or all of the site's options you will first be required to register as a “user” which is ABSOLUTELY FREE and, by your registration, you unconditionally and irrevocably consent to your use of this site (and all transactions concluded on it) being subject to the terms and conditions contained in the "TERMS AND CONDITIONS" section of this site.

1.3 Once you have registered, you will receive an email within 24 hours to confirm if you have been approved or not, once you have been approved then only all the options will be available to you.

1.4 Please remember to keep your password and alias confidential and secure. Should you forget your password, please go to "forgotten password" in the log-on section, where you will be able to re-establish what your password is.

2. HOW “SAAUCTIONS” WORKS FOR BUYERS

2.1To start you have to register (It will only take YOU 5 minutes), once you have registered, Read The Buyer’s Tips and then you may Bid on any item.

2.2 Note: SAAUCTIONSCARS do not determine the staring bid of every auction and when every bid is being placed it will increase as per the bid increments that are being created by SAAUCTIONSCARS (see clause 1.8.2. in Terms and Conditions). In any event it is the final price that counts and the more competitive bids that are made on the automobile, the better. IT IS VERY IMPORTANT to note that you as the buyer will be bound to buy (on the terms contained in the TERMS AND CONDITIONS) at whatever the highest bid is, should you made the highest bid.

2.3You also have the “buy now” option should you want to buy the automobile right away. Only when the first bid is placed on the prospective property the “Buy now” icon will be display where a registered buyer will have the option to buy the automobile right away at the aforesaid price and the automobile will no longer remain on the website and be declared “sold” by SAAUCTIONSCARS.

3. BIDDING PROCEDURE FOR BUYERS

3.1 Only Buyer’s that are registered on www.saauctionscars.co.za may bid.

3.2 The bidding takes place over a period of time displaying leading bids on the website; also a bid history of all the winning bids on the site will be displayed with the date and time.

3.3 Once a leading bidder is outbid he will receive an e-mail saying that he has been outbid with links to "make a higher bid" which will take him to the correct page on the site to do so.

3.4 Should the automobile be sold, then the system will always hold good the two highest bids. If the highest winning bidder does not pay within 96 hours, then the sale will be concluded with the second highest winning bidder. Also in this case the seller will be paid as if sold at the highest price, and the highest bidder forfeiting his deposit will account for the difference between the highest price and the second highest price as provided for above.

3.5 E-mails will be sent from "ADMIN" to buyers notify them.

3.6 On close of auction all items will be moved an auction is deemed to be successful when the buyer has paid for the item.

4. HOW “SAAUCTIONSCARS” WORKS FOR SELLERS Any automobile owner or automobile registered dealership , are allowed to sell their automobiles through SAAUCTIONSCARS complies within the TERMS & CONDITIONS set out by SAAUCTIONSCARS and received approval from SAAUCTIONSCARS before such an auction can take place. There are certain Auction procedures for a seller to understand first, before he places his automobile on auction. The Seller also needs to familiarize himself with the “TERMS AND CONDITIONS, PRICING” and accept it before an automobile will be loaded on the website for auction. Where the seller will also have the following options:

4.1”Reserve Price” - Auction. This category is used when the seller has a definite price in mind and do not want to sell below this price. This price is known as a "reserve price". Yourself as a seller are advised to keep the reserve price as low as possible, still bearing in mind that once the reserve price has been met, you are obliged to sell and tender delivery to the highest bidder over the reserve price. The selection of the reserve price is, however, entirely in your discretion

4.2"Subject To Confirmation” - Auction. This facility is used when a “reserved price” is not met during the auction period and when you are not quite sure of the value of the automobile - or you would still like to have the option to reject the highest offer if it is below the said “reserved price”. What will give you a good indication is to set a “selling price” on the automobile which is based on a value you would like to see placed on the automobile but, whatever the highest bid is. This decision always remains with you until the “selling price” has been met. Once the “Selling Price” is met, you will be notified for acceptance and the highest bid over the Selling Price will, in this event, be the price at which you will have sold the AUTOMOBILE.

4.3 “Without Reserve Price”- Auction. Sellers who seriously intend to dispose of the automobile, regardless of the price, would use this option. It is the equivalent to "No reserve" and, In this case and as a word of advice, you should consider placing the opening bid as low as possible

4.4Note: Only SAAUCTIONSCARS or a registered dealership approved by SAAUCTIONSCARS is entitled to load automobiles on the SAAUCTIONSCARS website.