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FIVE AUCTION
a chain of 5 Sales Centres holding public auctions of second-hand cars, open to both individuals and professionals.
BUYER’S GUIDE
Do you want to make your first auction purchase?
Follow our buyer’s guide!
It may be your first auction, but don’t worry! This practical 5-point guide will give you all the information required to buy your vehicle in complete peace of mind.
All terms in bold or blue are covered and explained in our “quick glossary” for use by auction buyers.
The aim of each FIVE AUCTION sales centre is to keep our customers well informed and provide them with the best possible service.
SOMMAIRE
- Find vehicles
- Choose in complete confidence
- Buy without error
- Pay easily
- Leave at the wheel of your vehicle
LEXIQUE
- Argus rateVehicle rate given in the Argus de l’Automobile (car evaulation guide), updated weekly.
Argus rates are displayed and remain available by simple request from Sales Centres receptions.
For all information: www.argusauto.com - Bank chequeCheque for the exact amount of the purchase issued directly by the purchaser’s financial institution, i.e. including, in addition to the “auctioned” price, the sale fee, technical inspection charge, preparation charge, etc.
- Certificate of ownershipOr « status certificate », issued by the Ministry of the Interior. Some certificates will be provided by the Sales Centres. All private buyers can now obtain this document individually before going to the Prefecture
- Buying orderOption available to people not able to attend the auction session, to have themselves represented by the auctioneer or by one of his colleagues. The buying order is an authorisation to buy under the best possible conditions by the person issuing the order. Download a buying order template
- Certificate of SaleDocument provided to the purchaser upon payment for the vehicle.
This enables the purchaser to visit the Prefecture (Sub-Prefecture or Town Hall) to register the vehicle bought at the auction in his/her name.
The Certificate of Sale includes details of the type of sale (voluntary or legal), the name of the previous registration holder, vehicle reference numbers (registration, date first put on road, mileage, serial number, type, etc.), and buyer’s contact details. - “Driving” saleMeans a sale at which vehicles are presented by being driven in front of stands where the audience are seated.
- EngravingSome vehicles brought to the Sales Centres have been engraved in advance.
Some Voluntary Auction Companies in the FIVE AUCTION Group undertake to carry out the necessary procedures for transfer of ownership of the engraving contract which will then follow the new owner.
The vehicle will therefore be recorded for a period of 6 years in the engraved vehicles register and will benefit from the additional guarantees offered by this contract for a period of one year.Eurodatacar is the organisation in charge of the register of such vehicles. - Evaluation rateThe "Evaluation rate", exclusive to FIVE AUCTION, is calculated as follows: average of auction prices according to make, model, energy consumption and year of the vehicle within the FIVE AUCTION network, based on all sales made in the last 6 months.
The FIVE AUCTION "Evaluation rate" is updated every week. See our Evaluation rate section - ExhibitionBefore each sale, the vehicles are shown to the public, often on the day before and day of the sale. Ask for information at each Sales Centre on days and hours of opening.
- Holding chargesAfter a deadline set by the Sales Centre (in general around 48 hours), daily holding charges may be applied to vehicles not having been taken away by their buyer.
The holding charges amount is freely set by each of the Sales Centres. - InsuranceObligation for the purchaser to take out civil-liability insurance for the vehicle(s) bought at auction (minimum third-party) and for themselves before the vehicle can be taken away from our site.
Option to take out a temporary contract on the spot, after the sale, for 48 hours, 72 hours, 8 days or 15 days. - InvoiceSales slip or invoice, document systematically provided to every purchaser after final payment for the vehicle(s) bought.
- Legal feesThe Voluntary Auction Companies deduct legal fees for public auction sales or auction charges from each lot sold.
These fees are freely set by them, and are non-negotiable.
They may vary according to type of vehicle sold. These fees, which may be variable in the course of a single auction day, are announced at the beginning of each sale, displayed on each vehicle, and given in the catalogues or lists of vehicles. - Letter of CreditDeclaration issued by the financial institution of the person paying for the vehicle, confirming availability for a period of at least 15 days after the auction sale date of the amount necessary for payment of the vehicle.
This declaration will include bank or postal account details and a cheque number.
This letter of credit must be held by the future buyer before the sale, if he/she wishes to take the vehicle away on the day of purchase. The buyer may also have the document faxed directly to the Sales Centre.
Download a letter of credit template - MandateDocument required for exports on behalf of a third party. Download a mandate template
- Mechanical warrantyOnly the FIVE AUCTION network offers a mechanical warranty for THREE MONTHS for a very large number of vehicles, through a private warranty provider present on the day of, and day after, the sales. This covers all internal, lubricated and moving parts of the engine, gearbox and axle as well as road assistance.
The buyer is required to activate these warranties before taking the vehicle away. Option of taking out additional warranties for 6 months or 12 months on the spot. - PurchaserBuyer of a lot at an auction.
- Registration certificateAll vehicles sold at our auctions have a registration certificate: document or administrative copy issued by the local authority in the area of registration.
Some may also be sold “for parts”, without a registration certificate.
In this case, this will be stipulated on the Certificate of Sale by Public Auction provided to every purchaser after payment for the vehicle. - Sales SlipTerm designating the invoice systematically provided to every purchaser of a vehicle sold at auction.
- SessionAnother term referring to a voluntary or legal auction sale.
- Starting bidSum set by the auctioneer at which he decides to begin the bidding.
Some Sales Centres give the starting bids for each vehicle in their sales list. - Technical InspectionEach vehicle is given a Technical Inspection in an Approved Centre. If the vehicle was registered more than four years ago, it undergoes a “compulsory” inspection, which is valid for two years with the obligation, or otherwise, to undertake a follow-up inspection within two months of the date of the last inspection carried out. This follow-up inspection may be carried out in the technical control centre chosen by the purchaser.
If the vehicle has been registered for less than four years, it undergoes a “voluntary” inspection (points for inspection are identical to the previous inspection) and does not need to undergo a potential follow-up inspection. The next compulsory technical inspection then remains set for the date when the vehicle is fours years old. The cost of the technical control is to be met by the purchaser and may vary according to Sale Centres. - Unsound bidWhen the buyer of a vehicle turns out to be incapable of paying for a vehicle bought, the lot may be put up for an “unsound bid” resale at a subsequent auction.
The “unsound bidder” will then owe the difference between the price at which he committed to buy and the price ultimately obtained when the vehicle is resold. - VAT declarationAll vehicles are auctioned inclusive of all taxes. Some vehicles are sold with recoverable VAT, for accredited professionals or for export.
For this category of buyers, see the Export section.. - Vehicles ListList of the vehicles which will be presented at the next sale.
Before the sale, this provisional list may be consulted on our site, or sent by fax or e-mail on request from the FIVE AUCTION sales centre.
You can also subscribe for free: see the section « Receive our free sales lists ». On the day of the sale, a complete list is available, listed in order of sale (sometimes subject to a fee depending on centres).
This may contain the starting bids for the vehicles (variable according to Centres). - Voluntary Auction CompanyThis term has replaced that previously used, Auctioneer’s Office.
Only Voluntary Auction Companies are authorised to organise voluntary public auction sales of property.