Who may take part
Both individuals and companies with legal capacity may bid, provided they meet the conditions in the auction notice. The voluntary auctions act also excludes certain people — the auctioneer, its staff and the licitator among them.
For bidders
You're going to bid. Here's what to expect.
An auction lasts minutes, yet it decides who owns a property. Knowing in advance how it runs and what to have ready keeps you from making mistakes in the room that can't be undone — the knockdown is binding.
Below is an informative overview. What binds are the terms of the individual auction notice — read it in full, footnotes included.
Taking part
Who may bid and what to bring
What to bring
Photo ID. Bidding for a company: a commercial register extract and proof of authority to act. Bidding for someone else: a notarised power of attorney. Plus proof that the deposit has been paid.
Registration before the auction
Bidders sign into the list before the auction opens and receive a bidder number. Come early — miss registration and you don't bid.
The auction deposit
Your ticket to bid — not a viewing fee
The deposit is the sum by which a bidder shows they mean business. Its amount, form and deadline are set by the auction notice. It counts towards the price for the winner and is returned to everyone else once the auction ends.
Without a deposit you cannot bid. With a deposit you have bought nothing — the purchase happens at the knockdown.
Pay the deposit only to the account in the notice
The account number, the reference and the deadline appear in the auction notice itself. Never pay into an account someone texts you, e-mails you or dictates over the phone — not even if they use our name.
Nor is the deposit ever a condition of viewing. Anyone charging you for access is not acting for the auctioneer. Verify on +421 33 55 32 722.
In the auction room
How the auction runs
Opening
The licitator reads out what is being sold, the reserve price and the minimum increment, then calls for bids.
Bidding
You bid with your number. Each further bid must exceed the last by at least the minimum increment stated in the notice.
The knockdown
If nobody bids after the third call, the licitator knocks the lot down to the last and highest bid. The winner is decided.
If nobody bids
If not even the reserve price is offered, the auction closes unsuccessfully. The property may go to a repeat auction on terms set by a new notice.
Paying the hammer price
The winner pays the difference between the deposit and the hammer price within the period and to the account stated in the auction notice. Watch the deadline — fail to pay and the knockdown becomes ineffective and the deposit is forfeited.
If you plan to pay from a mortgage, arrange the financing before the auction. No bank releases funds in a few days.
Transfer of title and viewings
Title passes to the winner at the knockdown, provided the price is paid properly and on time. A notarial record of the auction is drawn up and serves as the basis for the land registry entry.
The property may be viewed on the dates given in the auction notice. There are no other dates — and nobody may charge you for them.
A question about an auction?
The auctioneer is DUPOS dražobná, spol. s r.o., ID 36 233 935.
Related: Voluntary auctions on offer · Information for debtors · GDPR information