The online auction functionality allows for users to sell and buy a specific lot of livestock on a tender principle. These specific lots are allocated a specific timeline to bid for the specific lot. The bidding process is live and interactive and users can track the bidding for the period allocated to the lot. At the closing of the lot, an email is sent to both parties (buyer and seller) confirming the successful bidder of the outcome of the online auction. The seller of the lot must then accept the final bid for the lot. As soon as the buyer and seller have accepted the transaction, a “conditions of sale” of the lots will be sent to both parties listing the following:
* Buyers details;
* Sellers details;
* List of animals and hunting packages sold with prices and quantities and details;
* Special conditions of sale(for example including delivery costs and insurance costs);
* Delivery address for the buyer;
* Invoice details of the buyer and seller confirming the pricing and terms of the transaction;
* The seller will then be invoiced for the commission as per the terms and conditions of www.livestockauctions.co.za.
The final arrangements will then be between the buyer and seller for the delivery and payment of amounts due. Livestock Auctions is a facilitator of the transaction and cannot be held responsible for the delivery of the livestock as well as payment of the amounts due. The livestock pricing on lots includes in most circumstances the kilometre range in which the animals will be delivered free of charge. The terms and conditions will be very specific if the seller needs to pay for extra kilometres. Payment of the commission on the sale is payable within seven days from invoice.