Things to know about selling with ABC Auctions

ABC Auctions Zambia are expert Auctioneers specialized in selling vehicles online.

1. Online Auctions: All lots will be sold to the highest bidder via online auction on our ABC Auctions Zambia app.

2. You can BRING your vehicle: If your vehicle is running you may drive it to our premises yourself or arrange towing privately if it does not run and you do not require us to tow on your behalf.

3. Entry Fee: Each vehicle will incur a once off administration fee of K600 which will be deducted from the proceeds of the final sale.

4. Receiving & Valuation: Once received, your vehicle will be entered into our system using unique identifiers such as the chassis number, engine number and registration number. Your vehicle will be given an estimated value and we will request authorization to sell on your behalf, as well confirmation of the reserve price. You will then be required to be present to sign the relevant sale documentation. The vehicle will undergo a full valet and photography process and will be allocated to an auction thereafter.

5. Reserves: A reserve price is a minimum sale price that a seller would be willing to accept from a buyer for the sale of their vehicle. If the reserve price is not met, the seller is not required to sell the item, even to the highest bidder. Once a bidder submits a bid that has met or exceeded the reserve price, the bid is binding, obligating the buyer to purchase the auction item or service and obligating the seller to sell the item or service.

6. Starting bids: Starting bids will generally be set at fifty percent (50%) of the estimate value, however ABC Auctions reserves the right to change the starting bid percentage at any time without prior notice.

7. Commission: For the service of selling your vehicle, we will charge you a commission on the sale per vehicle sold. The scaling commissions are as follows;

Sale Value (K) Commission (%)
K0.00 - K200 ---> 45.00%
K200.01 - K500.00 ---> 35.00%
K500.01 - K1,000.00 ---> 25.00%
K1,000.01 - K2,000.00 ---> 22.50%
K2,000.01 - K10,000.00 ---> 20.00%
K10,000.01 - K20,000.00 ---> 17.50%
K20,000.01 - K40,000.00 ---> 15.00%
K40,000.01 - K80,000.00 ---> 12.50%
K80,000.01 - K160,000.00 ---> 10.00%
K160,000.01 - K240,000.00 ---> 7.50%
K240,000.01 & above ---> 5.00%

Commissions, transport/collection and/or any other charges associated with the sale and handling of vehicles for sale will attract VAT and will be invoiced and deducted off the remittance of sale proceeds at the time of pay-out.

8. Sellers Report: Seller report EMAILS detailing the status of all your lots can be sent to you daily/weekly/monthly. Please check emails regularly for updates.

9. Pay-out: Once the vehicles have been sold, you will be provided with Remittance Advice and Tax Invoice detailing the sale value of the vehicle and the total deductions off the consignment and there will be funds available to be collected by yourself or your nominated representative.

We do hope this serves to answer your questions and concerns, however, if there is anything further we can assist with, please feel free to contact us.