The Nedbank Cape Winemakers Guild annual Auction represents a particular type of contract between the buyers and sellers of exclusive wines.  The bidding procedure is structured in the same way as many other wine Auctions throughout the world and this method has proven over the years to be successful and acceptable to most bidders.

The Conditions of Sale are clearly printed in the Auction Catalogue and on the reverse of the Auction Registration Card that every Auction buyer has to sign.  These Conditions are read out by the Auctioneer at the beginning of the Auction and repeated at various stages throughout the day. There is and was nothing 'ambiguous about the bidding process'.

It is in the interests of the Guild that both the Guild member and the buyer get the best deal out of the Auction. For the member, it is selling all the lots at the best possible price and for the buyer; it is getting 'value for money'.  There is also no ambiguity in this; our intentions are very clear and explicit.

As with any other commercial venture, the Guild has, in the past, fallen prey to buyers who default or pay late.  Fortunately we have managed to keep such losses to a minimum and we have always exercised a measure of grace with late payers.  Legal action is a last resort.

Any wine left unsold due to buyer default can be offered to other buyers at the average price obtained at the Auction.  This is done during or immediately after the Auction, should such circumstances arise. Defaulted wine represented only a small percentage of the 2006 Auction turnover and was very happily snapped up by other auction buyers.