Bidders are required to register on KPV website before participating in the auction.
Such registration may involve providing personal information, proof of identification, credit card payment details etc.
Bidders must adhere to the auctioneer's rules and guidelines included here or on the website and specified from time to time.
The auctioneer has the right to refuse bids or withdraw a lot from the auction at their own discretion.
Auctions have a reserve price, which is the minimum amount the seller is willing to accept for the vehicle.
If the reserve price is not met, the vehicle may not be sold.
Bidders can inspect the vehicles before the auction if needed.
Vehicles are usually sold "as-is," and bidders should assess the condition during the inspection period.
Successful bidders are often required to make a deposit or pay the full amount within 48 Hours/2 working days.
Successful bidders can settle their payments either in cash or cheque only.
The auction house typically guarantees a clear title, but it's essential to verify this in the terms and conditions.
KPV will take care of the ownership transfer, however the associated costs such as transfer fees, insurance, registration charges etc. to be borne by the buyer.
Bidders are responsible for any additional fees such as taxes, registration, transportation costs etc.
It's important to understand the obligations and responsibilities of the buyer after winning the auction.
The auctioneer may reserve the right to withdraw or cancel a sale under certain circumstances at its own discretion.
Any dispute resolution, including arbitration or mediation processes, shall be subject to Bahraini law and the jurisdiction of the Bahraini courts.
In case of winning a bid, the balance amount needs to be settled within 48 Hours/2 working days. If the customer fails to make the balance payment within the above time limit, then the deposit amount will be treated as a non-refundable amount.
In case of losing the bid, the preauthorization amount will be released within 3 to 21 days.
