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The mkiv Supra Owners Club

Coy's Auction to go on line


Chris Wilson

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Ill have the 959 and the 911 RSR please.

 

If its anything like eBay the wining bidder wont get in touch, and the rest of the people will offer 50% of the value

 

I suspect you won't even be allowed to bid without placing a sizeable deposit.

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I suspect you won't even be allowed to bid without placing a sizeable deposit.

 

Can't see that written anywhere. You register, get your paddle and go bid, the range of values

would make it impossible to make you pay a worthwhile deposit.

 

You can be in deep **** if you win the lot though and decide to default

21. BUYER’S DEFAULT

21.1 In the event that the Purchase Price is not

duly paid in accordance with Condition 20.1,

Coys may hold the Buyer in default and shall as

against the Buyer (a “Defaulting Buyer”) have the

following rights, in addition to those set out in

Condition 21.4 below:

(a) As agent for the Seller, to charge interest at a

rate not exceeding 5% per annum above the Bank

of England base rate on so much of the Purchase

Price as remains due and unpaid;

(b) To retain any Lot sold to the same Buyer at the

same or any other Auction and to release it only

after payment of the total amount due;

© To reject or disregard any bid or bids made by

or on behalf of the Defaulting Buyer at any future

auction or to require payment of a deposit before

any future bid made by or on behalf of that Buyer;

(d) To apply any money due or to become due to

the Defaulting Buyer in or towards settlement of

the total amount due and to exercise a charge on

any property of the Defaulting Buyer which is in

Coys’ possession for any purpose.

21.2. If the Buyer continues to fail to make

payment of the Purchase Price in full within 14

days of it falling due under Condition 20.1, Coys

may (if so instructed by the Seller, or acting of its

own motion in accordance with Condition 21.4

below) without prejudice to any other rights it

may have, exercise one or more of the following

additional remedies:

(a) To institute proceedings against the Buyer in

its own name, or in the name of the Seller for

damages or specific performance for breach of the

sale contract;

(b) To institute proceedings against the Buyer in

its own name in respect of the Buyer’s Premium

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