DEFINITIONS & INTERPRETATIONS

The following definitions, interpretations and expressions shall apply to all Contracts, references
and business dealings with BID4U.

Click on a letter for the words that begin with ...

A |  B |  C |  D |  E |  F |  G |  H |  I |  J |  K |  L |  M |  N |  O |  P |  Q |  R |  S |  T |  U |  V |  W |  X |  Y |  Z | 


 

Camper Van

means a vehicle specifically fitted out for camping or touring purposes which is equipped with sleeping and cooking facilities.

Catalogue

means a document prepared by an Auctioneer or Seller that describes a lot or item. (Seller)

Note:
Catalogues are usually amalgamated with the Terms and Conditions of Sale, which may or may not also provide auction or sale estimates.

 

Caveat

means a warning recorded against the original Certificate of Title that there is a claim lodged on the Title to the land, which may prohibit the Registrar of Titles from registering a dealing upon that Title.

Chassis Number

Is the number usually found on a plate located under the Passenger Side of the front windscreen, stamped on the firewall chassis rail. However, this is not always the case as some manufacturers choose to stamp the chassis number onto various sections within the engine compartment such as the shock tower or radiator support panel.
(Build Date, Build Plate, Compliance Date, Compliance Plate, Registration Number, VIN)

Circa

means where the age, date of manufacture or date of completion of a vehicle or thing that can be positively attributed to an approximate period, date, region or dynasty. Circa is usually denoted by ‘circa’ or a ‘C’ preceding the estimated date.  For Example:  An an old fuel bowser may be circa c1948.

Client

means the person company signatory who has signed the Contract with BIDU and contractually engaged BID4U to provide professional services.

Client Number

means a confidential number issued by BID4U to Clients for identification purposes.

Collectable

means small inanimate objects, articles, items or things after circa 1910 AD.

For Example:  Cigarette cases, stamps, coins and small toys

 Back to Top

Company Signatory

means the person signing the Contract on behalf of a company who is duly authorised to act on the company’s behalf, and who has the company’s express and/or implied permission to contract with BID4U on the company’s behalf.

Compliance Date

means the date stamped on the compliance plate affixed to the vehicle certifying that the vehicle complies with the Australian vehicle standards and regulations. 

In Western Australia the Compliance Date (not the Build Date) is used to determine the age of the vehicle for assessment and valuation purposes.

A great deal of confusion exists in the community as to whether the Build Date or Compliance Date is used to determine a vehicle's age.  Section 34F of the Motor Vehicle Dealers Act 1973 Western Australia provides that the date of manufacture of a vehicle is to be taken to be:

          2(a) the date of manufacturer shown on the vehicle's compliance plate;
            (b) the "build date" shown of the vehicle; or
            (c) if paragraph (a) or (b) does not apply -
                 (i)  the date agreed in writing between the dealer and the purchaser of the vehicle; or
                 (ii) failing such agreement, the date fixed by the commissioner exercising the jurisdiction conferred by section                        36(d).

In other words, in Western Australia the Compliance Date takes precedence over the Build Date.  That is to say, the Compliance Date is considered to be the age of the vehicle in Western Australia and, in the absence of a Compliance Date, (common with vintage vehicles) the Build Date is considered to be the vehicle's age.

The Compliance Date is recognised by the Motor Vehicle Industry as being the age of a vehicle but the Compliance Plate is also the date that must be recorded on the 'Vehicle Particulars' Form 4 (Commonly known within the motor vehicle industry as the 'Pinky', due to the form's colour), which displays the vehicle's particulars as well as the applicable Statutory Warranty, in order to comply with Section 33 of the Motor Vehicle Dealers Act 1973.
(
Australian Design Rules, Build Date and Date First Registered)

Note 1. Some states; such as N.S.W use the Build Date, rather than the Compliance Date, to determine a vehicle's age.
  2.  Many vehicles manufactured overseas have Build Dates a month or more earlier than the Compliance Date, and some European vehicles commonly have Build Dates up to six months earlier than the Compliance Date.

 

 

 

 

 


Compliance Plate

means an aluminium plate or sticker attached a vehicle containing a unique seventeen (17) digit Vehicle Identification Number (VIN) number, the GVM, number of seats and date the vehicle complied with the Australian Design Rules and standards required by law in Australia for vehicles of that make, model and year of manufacture.
(Build Date, Build Plate, Chassis Number, Compliance DateRegistration Number, VIN)

Computer Hardware

means all the physical, mechanical and electronic components of a computer and the various accessory devices that can be added including the desktop, tower case, monitor, keyboard, mouse, web cam and attached speakers.

 Back to Top

Computer Software

means the programs and other operating information used by a computer.

Condition (In Relation to Motor Vehicles)

The below vehicle conditions are comparable to industry standards:

          Condition Not Rated
                   means where a condition is not attributed to a vehicle because BID4U appraisal revealed major or moderate
                   repaired accident, collision or storm damage
or extensive minor repaired accident, collision or storm which
                   may significantly affect the vehicle's safety, roadworthiness and/or value.

         Scrap Value
                   means that the vehicle is no longer serviceable and has no value other than for materials only.
 
         Salvage Value
                   means that the value of the subject vehcile is usually in the reusable unit components or spare parts. Typically
                   it is uneconomic to repair the vehicle as the repair costs are likely to exceed the cost of the vehicle.

Very Poor Condition

means a condition substantially below normal for the vehicle’s age.

Passenger vehicles in Very Poor Condition would be expected to travel excessive mileage, in excess of 40,000 kilometres per year, whilst Commercial vehicles would be expected to travel in excess of 60,000 kilometres per year.

The body and interior of the vehicle will usually exhibit substantial wear, tear, damage, replacement or repair, often accompanied by major dents, rust, scratches, body damage and/or dust intrusion. The vehicle will usually require major mechanical repairs, often equalling or exceeding the cost of the vehicle, to return the vehicle to a state of mechanical soundness and roadworthiness.

Poor Condition

means a condition significantly below normal for the vehicle’s age.

Passenger vehicles in Poor condition would be expected to travel between 30,000 and 40,000 kilometres per year, whilst Commercial vehicles would be expected to travel between 50,000 and 60,000 kilometres per year.

The body and interior of the vehicle will usually exhibit significant signs of wear and tear, damage, replacement or repair often accompanied by dents, rust and/or dust intrusion. The vehicle will usually major mechanical repairs to return the vehicle to a state of mechanical soundness and roadworthiness.

Fair Condition

 
means a condition below normal for the vehicle’s age.
 
Passenger vehicles in Fair Condition would be expected to travel between 25,000 to 30,000 kilometres per year, whilst Commercial vehicles would be expected to travel between 40,000 and 50,000 kilometres per year. 
 
The body and interior of the vehicle will usually exhibit greater than average wear and tear, damage, replacement or repair, often accompanied by minor to moderate dents, scratches, body damage and panel blemishes as well as minor to moderate rust and/or dust intrusion. The vehicle will usually require mechanical repairs to return the vehicle to a state of mechanical soundness and roadworthiness.

Average Condition

means a condition which is normal for the vehicle’s age.

Passenger vehicles in Average Condition would be expected to travel between 20,000 to 25,000 kilometres per year, whilst Commercial vehicles would be expected to travel between 35,000 and 40,000 kilometres per year.

The body and interior of the vehicle should be reasonably original exhibiting wear and tear consistent with the vehicle’s age.  Minor damage, replacement or repair as well as minor dents, scratches, body damage and minor panel blemishes may be evident. 

The vehicle may require some mechanical repairs to return the vehicle to a state of mechanical soundness.

Good Condition

means a condition better than average for the vehicle’s age. 

Passenger vehicles in Good Condition would be expected to travel between 20,000 to 25,000 kilometres per year, whilst Commercial vehicles would be expected to travel between 35,000 and 40,000 kilometres per year.

The body and interior of the vehicle should be mainly original exhibiting minor wear and tear, marks, defects or repair and minor dents, scratches, body damage and panel blemishes.  

The vehicle should be mechanically sound but may require minor mechanical repairs.

Very Good Condition

means a condition which is much better than average for the vehicle’s age.

Passenger vehicles in Very Good Condition would be expected to travel between 15,000 and 20,000 kilometres per year, whilst Commercial vehicles would be expected to travel between 30,000 and 35,000 kilometres per year.

The body and interior of the vehicle should be original exhibiting very minor wear and tear, marks, defects or repair and minimal dents and scratches.

The vehicle should be well maintained and mechanically sound.

 Back to Top

Excellent Condition

means a condition significantly better than average for the vehicle’s age.

Passenger vehicles in excellent Condition would be expected to travel between 10,000 and 15,000 kilometres per year, whilst Commercial vehicles would be expected to travel between 20,000 and 30,000 kilometres per year. 

The body and interior of the vehicle should be original exhibiting only very minimal wear and tear, marks, defects or repair with only negligible dents and scratches.  Mechanically, vehicle should be very well maintained, mechanically sound and in very good condition.

Vehicles in Excellent condition command a premium over the same make, model and type of vehicle in a lesser condition. 

As New Condition

means a condition outstanding for the vehicle’s age.

Passenger vehicles in As New Condition would be expected to travel less than 10,000 per year, whilst Commercial vehicles would be expected to travel less than 20,000 kilometres per year.

The body and interior of the vehicle should be in showroom condition with no wear and tear, marks, defects or repair and no dents or scratches. Mechanically, the vehicle should be excellent.

Vehicles in As New condition command a premium over vehicles in Excellent Condition and a significant premium over the same make, model and type of vehicle in a lesser condition. 

New Vehicle
            means a brand new vehicle that has not been previously used or registered.

 Back to Top

IMPORTANT POINTS TO NOTE ON VEHICLE CONDITIONS

Note
1.
The above condition descriptions are provided as a guideline only, as there are no distinct ‘black and white’ boundaries between the various conditions.
  2.
The hours of usage for HME (Heavy Mobile Equipment) and Mobile Plant & Equipment can vary considerably depending on the type of equipment, location of use and operating conditions.
   3. 
When assessing a vehicle’s condition the odometer reading, mechanical condition, body and interior of the vehicle must be taken into consideration as well as the vehicle’s age, authenticity and usage. Notably, a single factor such as damaged paintwork may lower a vehicle’s condition even though the other attributes of the   vehicle may designate a higher condition.

 

 

 
        

For Example:
A vehicle may be rated as being in Fair Condition because it has damaged paintwork even though the interior is in excellent condition, and the vehicle has a low odometer reading and is in very good condition mechanically.

 
 

  4.
There is no direct correlation between a vehicle’s odometer reading and condition.

     

For Example:
A two year old vehicle with an odometer reading of 60,000 kilometres may be in Excellent Condition whilst a similar vehicle with an odometer reading of 10,000 kilometres may be in Poor Condition.



  

  5.
Most vehicles have had some repaired accident damage. Generally, the older the vehicle and the higher the odometer reading the more likely it is that the vehicle has undergone repairs, and, except where the vehicle is a statutory write-off, a repairable write-off or has sustained major repaired accident damage, there is generally no direct relationship between a vehicle’s condition and repaired minor accident damage.

 

    
      

For Example:

A vehicle in Excellent Condition may have some well-repaired minor accident damage whereas a vehicle with no accident damage may be in Poor Condition.

Luxury motor vehicles such as; Rolls-Royces, Ferraris, Mercedes, BMWs, Porches etc, however, are the main exception to the rule. The market expectation for prestige vehicles is that they must be in at least Very Good Condition, exhibit a low to moderate odometer reading and have minimal repaired accident damage.  Consequently, any moderate repaired accident damage or multiple minor damage repairs will significantly reduce the price and may render prestige vehicles virtually unsellable, particularly where repair quality is less than first class.

 




 


  

  6.
No two Motor Vehicles are in exactly the same condition. Average annual odometer readings can vary considerably and are dependent upon a large number of factors, including the type of vehicle and its history.

 

 
    

For Example:

Luxury vehicles such as Ferraris would be expected to travel less than 5,000 kilometres per year, whereas hire cars would be expected to travel in excess of 40,000 kilometres per year. As a general rule, however, the lower the odometer reading and the better the vehicle’s condition, the higher the price.

 
 
 

   7.
BID4U’s opinion as to age, attribution, condition, authenticity, description, history and value is, like any other opinion, subjective, however, BID4U’s opinion is based on over 25 years of experience forensically examining and appraising the condition and value of thousands of motor vehicles.
   8. 
All vehicles, regardless of age and condition, may require servicing, cleaning and/or replacement of consumable items such as light globes, wiper blades, batteries brake pads and tyres.
   9.  Many vehicles sold at Auction, by Dealers and Private Sellers, regardless of condition, are only provided with one set of keys.

 



 


 

Concours

is short for Concours d’Elegance which is a French term meaning 'contest of elegance'.

means an eligible motor vehicle that has been entered into a Concours d’Elegance in accordance with the rules and regulations of a motor vehicle owners club for that type of vehicle, and after consideration of age, condition and authenticity has been judged to have reached or surpassed the minimum number of points in each assessable category and received an award in one or more designated Concours d’Elegance class. 

Note 1.
Although the term Concours is synonymous with excellence and has become a byword for a motor vehicle in exceptional condition and is a terms often used to describe contests between vehicles, a true Concours d’Elegance motor vehicle is only one that has been determined eligible, judged by a qualified judge, awarded over the minimum number of points in each assessable category and received an award.
  2.
Concours motor vehicles are rare and desirable, and because they must be in outstanding condition, they can command premiums of two to three times that of the same make, model and type of motor vehicle in excellent condition, and up to five times that of the same vehicle in good condition.

  

 
 
 
 
 

 

Concours Standard

means a motor vehicle having regard to the vehicle’s age, authenticity and condition is of eligible Concours d’Elegance standard but which has not been entered into a Concours d’Elegance within the last five years.

Concours Winning 

means an eligible motor vehicle that has been entered into a Concours d’Elegance in accordance with the rules and regulations of a motor vehicle owners club for that type of vehicle, and after consideration of age, condition and authenticity, has been judged to be the overall winner and has been awarded the overall winners trophy. 

Note: 1.
Concours d’Elegance winning motor vehicles have achieved the absolute pinnacle of excellence, particularly at a federal rally, and are extremely rare, highly desirable and usually very, very expensive.
  2. Concours winning motor vehicles normally present in better condition than when they were new and may have had tens of thousands, hundreds of thousands of dollars or even seven figure sums spent on the vehicle.
  3.

The scarcity of Concours d’Elegance winning motor vehicles is enhanced by the fact that only one vehicle can be awarded the overall Concours d’Elegance winners trophy in each state per year.  

Similarly, at a federal level, only one motor vehicle is eligible to win the Overall Winners Trophy, and to do so may have beaten hundreds of other Concours motor vehicles to take the title.

  4.
At an international level, Concours d’Elegance winning motor vehicles may have beaten other exceptional Concours d’Elegance motor vehicles from all over the world.
  5. The vast majority of Concours d’Elegance winning motor vehicles change hands very discretely and are rarely advertised. On those infrequent occasions when Concours d’Elegance winning motor vehicles come onto the market they usually command premiums in excess of five times that of the same make, model and type of motor vehicle in excellent condition and in excess of ten times that of the same motor vehicle in good condition.
  6.
International Concours d’Elegance winning motor vehicles can achieve absolutely staggering sums.
 

Condition Description Report

means a report provided by the Auctioneer or Seller on the condition, age and authenticity of the lot. Condition description reports are subjective and, whilst helpful, should not be relied upon as a representation of fact because they are usually prepared by the Auctioneer or Seller or a third party on commission on behalf of the Auctioneer or Seller, rather than that of an independent expert.

Note:    Condition description reports are often amalgamated with the Terms and Conditions of Sale.

Consecutive Bidding

means when the Auctioneer opens bidding on a lot, places a bid or continues bidding by placing responsive or successive bids on behalf of the Seller, up to the reserve amount.

Contract

means the agreement between Bid 4 U and the Client for the provision of professional valuation appraisal, forensic vehicle examination, bidding, location, tender, buying and/or negotiation services of which the Contract Terms and Conditions form part.

Contract Expiry Date

means the last most time and date the Client authorises Bid 4 U to value, appraise, forensically examine, bid, locate, tender, buy or negotiate a vehicle purchase.

Contract Number

means the number attributed to a specific Contract entered into by Clients with Bid 4 U.

Contracted Motor Vehicle

means a motor vehicle described in Section V. ‘Advertised Vehicle Details’ of the Contract or a motor vehicle of the  make, model, badge and type described in Section VII. ‘Motor Vehicle Description’ of the Contract that the Client has  entered into a contractual agreement with Bid 4 U to undertake a valuation appraisal, conduct a forensic examination  and/or, bid, locate, tender, negotiate or purchase a motor vehicle in accordance with Section VIII. ‘New Motor Vehicles’ of the Contract and/or the Preference Requirements outlined in Section IX. ‘Criteria & Preference   Requirements’ of  the Contract as well as under Section XVII ‘Special Conditions & Requests’.

Contract to Buy a Motor Vehicle

means a legally binding contract to buy a new or used motor vehicle from a dealer. (OTP) 

Note A 'Contract to Buy a Motor Vehicle' is often referred to in the trade as an 'OTP' (Offer to Purchase) but may also be called a 'Contract to Purchase a Motor Vehicle, a 'Vehicle Purchase Contract', a 'Contract to Order a Motor Vehicle', a 'Contract to Order & Buy a Motor Vehicle' or a number of other variants. 



 

 Back to Top

Cooling-Off Period

means the period of time after signing a contract when it becomes legally binding.  A Cooling-off periods allow persons to change their mind (within certain timeframes) and/or legally cancel the contract under certain conditions without incurring any penalty or charge. 

BID4U DOES NOT offer a Cooling-Off Period.  All contracts with Bid 4 U immediately become legally binding on acceptance by BID4U.

Counterfeit

means an animate or inanimate object, article, item or thing that is an imitation, false or which has been created or altered to deceive as to authenticity, genuineness, authorship, date, age, origin, culture, period, style or source. 

Note 1.  Counterfeit does not include an object, article, item or thing that is damaged, has been restored and/or undergone of any form of legal modification, including re-painting, welding or repair.
  2. Most reputable Auctioneers provide authenticity guarantees in the event a lot is not genuine.


 


C-Pillar

means the roof support behind the rear doors on a four-door vehicle.  (A-PillarB-Pillar, Pillar)

Curio

means an inanimate object, article, item or thing that is not an antiquity or an antique but which is fascinating, rare, exceptional and unusual or which can be regarded as collector’s item.

 

 Back to Top | Back to Home

 

These definitions and interpretations may be subject to review and change from time to time

 


 

*MTA Member Bidding Service DL: 18363*