Sale/successful bidder: When the auctioneer pronounces the word "sold" ("adjugé" in French), the auction sale and transfer of ownership of the lot (vehicle, equipment) is concluded. The successful bidder is responsible for their lots from the moment the sale is pronounced
Argus: Price of the vehicle stated by the French "Argus de l'Automobile" guide to used car prices. This price guide is updated weekly. The Argus prices are displayed and remain available on request at the reception of the Auction Centres. For any information: www.argusauto.com
Insurance: Obligation for the buyer to take out public liability insurance for the vehicle(s) purchased at auction (third-party cover or more) and for themselves before collecting the vehicle from our premises. There is the option to take out a temporary 48h, 72h, 8-day or 15-day policy on site after the sale with the insurance provider present at the Five Auction centre.
VAT certificate: All the vehicles are sold inclusive of tax and some of the vehicles are sold with VAT that can be reclaimed for authorised businesses or exports. For this category of buyers, see the Export section.
Award notice: Term used to describe the invoice that is systematically issued to each buyer of a vehicle sold at auction.
"Carte grise" (vehicle registration document): All the vehicles sold at auction have a vehicle registration document: "carte grise" or administrative copy issued by the Prefecture of the vehicle registration department. Some can also be sold "for parts", without a "carte grise": these words are then stipulated on the public auction sale certificate issued to each buyer after the payment of the vehicle. To find out about the new process for registering used vehicles, go to: www.interieur.gouv.fr
Auction catalogue: this term refers to the list of vehicles and equipment available to visitors. Please note: the catalogue or list is always incomplete and may be modified right up to the time of the auction. (See also the "Auction List")
Certificate of Sale: Document issued to the buyer on payment of the vehicle. The buyer needs this document to register the vehicle purchased at auction at the Prefecture or Sub-Prefecture. The Sale Certificate indicates the nature of the Sale (voluntary or judicial), the name of the former holder of the vehicle registration document, the references of the vehicle (registration, date of first registration, odometer reading, serial number, type, etc), contact details of the buyer and the authorised auctioneer.
Title clearance certificate (no-lien): Or "certificat de situation" issued by the Ministry of the Interior. Some certificates will be issued by the Auction Centres. Private individuals can now obtain this document individually before going to the Prefecture. Document to be downloaded on the official website
Banker's cheque: Cheque for the exact amount of the purchase, ie increased by the VAT and fees (commission and ancillary costs) issued directly by the financial institution of the buyer
Vehicle Safety Test: Each vehicle has passed a vehicle safety test conducted in an authorised centre. If the vehicle has been registered for more than four years, it undergoes a so-called "mandatory" inspection that is valid for two years, with or without the obligation to carry out a follow-up inspection within two months of the date of the last inspection. This follow-up inspection can be carried out in the safety inspection centre of the buyer's choice. If the vehicle has been registered for less than four years, it undergoes a "voluntary" inspection and is not subject to any follow-up inspection. The next compulsory vehicle safety inspection remains fixed at the fourth anniversary of the vehicle. The cost of the vehicle safety inspection is at the expense of the buyer and may vary according to the Auction Centre concerned.
Follow-up inspection: If certain faults need to be repaired, a follow-up inspection of the work done must be carried out within 2 months of the initial vehicle safety inspection. The need for this follow-up inspection is mentioned on the inspection report. Only the areas concerned by the follow-up inspection are rechecked. If this period of 2 months is exceeded, the owner must carry out a full vehicle safety inspection.
Auction quote: The Auction Quote, which is an exclusive service of FIVE AUCTION, is calculated as follows: average of the auction sale prices according to the make, model, fuel type and year of manufacture of the vehicle within the FIVE AUCTION network, based on all the sales concluded in the last 6 months. The FIVE AUCTION Auction Quote is updated weekly See our Auction Quote section
Lease (or leasing): type of financial leasing of goods for professional use, which can become the property of the lessee at the end of the contract.
Telephone bids: Bids made by phone, only for lots of a certain value, when the bidder has made themselves known in advance to the auction centre by sending a copy of their ID and bank details. The auctioneer reserves the right to accept telephone bids and is not liable if the bidder cannot be contacted at the time of the auction.
Estimate: estimated price given for a vehicle or equipment available for auction according to its age, condition, odometer reading or number of hours and its guide price (Argus, FNTP, etc)
Office: refers to the office of the judicial auctioneer, the only body authorised to conduct judicial auctions, ie those required by the law or ordered by a court (official receivership, auctions at the request of a bailiff, etc)
Viewing: Before each auction, the vehicles are displayed to the public often the day before and on the day of the auction. Check with each Auction Centre for the opening days and hours.
Invoice: Award notice or invoice, a document that is systematically issued to each buyer after the final payment of the purchased vehicle(s). The invoice contains the hammer price, the commission, any ancillary costs and the total VAT if it can be reclaimed.
Unfunded bid: When it turns out that the buyer of a vehicle is unable to pay for a purchased vehicle, the good may be put up for auction again at a later session because of an "unfunded bid". The person who made the unfunded bid is then liable for the difference between the unfunded bid price and the final hammer price obtained when the vehicle is re-auctioned.
Storage fees: After a period set by the Auction Centre (usually approximately 48 hours), daily storage fees may be applied to vehicles that have not been collected by their buyer. The amount of the storage costs is set freely by each Auction Centre.
Commission: the voluntary commission is expressed as a percentage and is freely set by the auctioneer and may therefore vary according to the FIVE AUCTION centre concerned. They can also vary according to the type of vehicle (touring vehicles, commercial vehicles, motorcycles, HGVs, public works vehicles, etc). Check with each FIVE AUCTION centre.
Legal costs/court fees: The costs of a "judicial auction" are the legal costs involved in a "judicial auction" and are set at 14.40%.
Mechanical cover: Only the FIVE AUCTION network offers mechanical warranty of THREE MONTHS for a very large number of vehicles through a private guaranteeing agent that is present on the day of the auction and the day after the auction. Such a warranty covers all the internal, lubricated and moving parts of the engine, gearbox and powered axle, as well as any roadside assistance. This cover must be validated by the buyer before the collection of the vehicle. There is the option of additional cover for 6 months or 12 months to be taken out on site with the "insurance and warranty" provider present at the Five Auction centre.
Manufacturer's warranty: In 2002, the legal manufacturer's warranty on new cars was changed from one year to two years, with an unlimited mileage. Some makes have extended their warranty to a longer period.
Honorary buyers: see commission
Judicial: See "Judicial Auction"
Long-Term Leasing Contract: financing option for leasing a car or equipment offered by a financial institution.
Letter of credit: Certificate issued by the financial institution of the person paying for the vehicle, stipulating the availability of the amount needed to pay for the vehicle for a period of at least 15 days after the date of the auction. This certificate includes the references of the bank or postal account as well as a cheque number. The prospective buyer must have this letter of credit with them prior to the auction if they wish to collect the vehicle on the day of the purchase. The latter can also ask for this document to be faxed directly to the Auction Centre. See the "documents to download" section
Official receivership: Official receivership is the consequence of a collective proceeding resulting from an action brought by one or more creditors of a trader, when their company no longer has sufficient cash to pay its debts. Only "judicial" auctioneers are authorised to conduct auctions of the movable property resulting from these liquidations.
List of vehicles (or Auction Catalogue): List of vehicles that will be presented at a future auction. This provisional list may be consulted on our website or sent by fax or email on request to the FIVE AUCTION Centre. If you would like to subscribe for free, see our "Receive free auction lists" section. On the day of the auction, a complete list that is numbered in the order in which the lots will be auctioned (fee-paying service in certain centres). It may contain the opening bids of the vehicles (variable according to the Centre).
Lot: Refers to the vehicle or equipment included in an auction list or catalogue (the lots are classified in the order in which they will be auctioned)
MEC: Date of first registration
Opening bid: Amount set by the auctioneer, at which the auction will begin; subsequent bids are made by raising the hand, thereby gradually increasing the price by increments of about €100 (maximum) per bid. Some Auction Centres include the opening bids of each vehicle on their auction list.
Bid order: Option available to bidders, who cannot attend the session, to be represented by the auctioneer or one of their employees. The bid order is an instruction by the ordering party to make a purchase with the most favourable conditions.
Proxy: Document required when exporting on behalf of a third party. See the "documents to download" section
Receivership: "Receivership" is a collective proceeding that is instituted when a company is no longer in a position to meet its outstanding debts. This is known as a suspension of payments. The purpose of this judicial proceeding is to safeguard and maintain its business activity and its jobs by discharging its liabilities (last resort before official receivership)
SVV: Commercial auction house ("Société de Vente Volontaire" in French) This term has replaced the one commonly used in the past, ie Auctioneer's office ("Etude de commissaire priseur" in French). SVVs are the only bodies authorised to hold voluntary public auctions of movable property.