FAQ

Yes REGISTER AS MEMBER on www.bestbidonline.co.za, change your status to BBO Agent and List your Property. Or send us an email on info@bestbidonline.co.za and we will assist you.
BBO Auctions currently charges Zero Marketing Fees and 3% Sellers Commission on a Sale. Buyers pay a Buyers Premium/Auction Fee.
You needto REGISTER AS BIDDER as per the above Menu. As soon as your request for Registration is Approved, which might take a little while as it is a manual vetting process, you will receive a Confirmation email with your Login Details. You will then be able to access your Membership Dashboard with all your Profile etc information and the ability to Bid on any Auction.
BBO does not currently charge any Bidders Registration Fee or a Fee per Bid but reserves the right to amend same.
The industry standard guideline for Auction Fees/Buyers Premium, is 10% of the Purchase Price of an item, payable by the Buyer on the acceptance of a Bid by the Seller. This Fee can be amended depending on the % Sales Commission payable by a Seller, if any. BBO will publish the relevant Buyers Fee per Auction.
Any Registered Member/Bidder can Bid on any Auction. The Buy it now Price is the Price at which you can Buy he item/property without any further Bids being accepted from other Bidders. The Start Price is the minimum Bid that will be accepted. The Current Bid indicates Bids already received. The Bid Increment is the guideline for Bid increments that will automatically prompt the next Bid amount. You can override this and enter you own Bid Amount. The Reserve Price is the Minimum amount that the Seller indicated that he will Sell for. This amount is not displayed on the Auction Dashboard but the Dashboard will indicate when the Bids have exceeded this amount.
Every Monday at 2pm all Auctions Close unless indicated otherwise. If no acceptable Bids have been posted, BBO can at its own discretion extend such an Auction for another week. The top three Bids in excess of the Reserve Price are evaluated and Submitted to the Seller.
If the Seller indicates acceptance of an Offer, a Deed Of Sale is drawn up by BBO, which the Bidder/Buyer then signs, where after the Seller signs. The Sellers signature date then constitutes the Effective Date. The Buyer then has seven calendar days from the Effective Date to pay the Buyers Premium/Auction Fee to BBO. A Guarantee for the payment of the full Purchase Price plus transfer costs must then be lodged with the BBO Conveyancing Attorneys within 30 days of the Effective date.
The industry standard guideline for Auction Fees/Buyers Premium, is 10% of the Purchase Price of an item, payable by the Buyer on the acceptance of a Bid by the Seller. This Fee can be amended depending on the % Sales Commission payable by a Seller, if any. BBO will publish the relevant Buyers Fee per Auction.