I was trying to start this tipper business and i responded to truck repo advert of one of the biggest auction house in SA. I succesfully bidded for 1 truck 2628 as reflected on the list which unfortunately i discovered later that it was just unwanted truck from their client and not a repo. As fate would have it beside being a wreck and broken engine, it turned out that as i was buying the spares at Merc, through the VIN no, that to start with the truck is 2633 and not 2628 as on the cab and auction list and secondly the original engine of that truck is ADE 422 and not the ADE 407 i m fixing and finally the gearbox is not suppose to be a fuller gearbox. I had already spent in excess of R70 000 in trying to fix it at that time. After realising that,i took them to SA Institute of Auctineers and through my insistance that no info was communicated at the auction that the truck was a rebuilt, they then agreed that i should return it and get my bid price and they will then auction it and what ever come out in excess they will pass it to me. This afternoon i phoned them to find out what is gonna happen if it sell R70 000 short and if they have notified their client (owner of the truck) that he will have to come to the party in an event of shortfall.
It now got hot and appeared like they did me favor and decided that before they can refund me the bid money i have to make an undertaking in writing accepting that whatever loss that accrue from the auction no one including them and their client will be held responsible.
So my question to you all is that what advise would you give. It is massive company that i cannot touch legal wise but my position is that the truck is a rebuilt and their client should have communicated that and be disclosed at the auction. What recourse do i have and do i stand a chance?