"Going once, going twice, going thrice, sold to number...," came the auctioneer's voice as his hammer fell on bids for various items at the Customs and Trade Administration grand auction at John Fernandes' Ruimveldt Container yard yesterday.

From as early as 8 am enthusiastic bidders converged at the shipping company's container stockyard to participate in the published bidding process for vehicles and other items, most of which were being sold on an as is basis.

Items included several motor vehicles in varying conditions, used heavy-duty machinery, a generator, steel, drums of grease and a sawmill machine among others.

However most of the attention focused on the motor vehicles with bidders making predictions as to possible best price for several of them that was being offered. Among the vehicles that generated the most interest were a 300 SL Turbo Diesel Mercedes Benz in working condition, which eventually went for some $800,000. Others of lesser quality and whose only purpose of purchase was for parts were bought for as little as $26,000.

On arrival persons wishing to make bids were registered and given a bid number and the rules of the auction. Prospective bidders were also supplied with a list of the items on offer and several took the opportunity to acquaint themselves with the items and verify their condition prior to making an offer.

Terms and conditions of the auction were outlined in a leaflet supplied to prospective bidders.

The conditions stipulated that vehicles/items purchased were to be removed from the sale site within 14 days of their purchase or risk being forfeited.

The auctioneer read out each item listed and persons participating in the process checked and verified that the item was what they intended to buy, the rules also outlined.

Bid winners were required to pay a two per cent auction fee on the winning amount, which had to be paid in cash immediately to a custom official present at the auction site. Any sale under $100,000 was to be paid immediately at the bid site with those over this figure being made to pay a $25,000 deposit and the remainder by the end of the next working day (tomorrow). However those wishing to pay in full could have done so at the site. Deposits made face forfeiture if payment was not honoured.

As is the case with any purchase there were some satisfied buyers and others who was not overwhelmed by their lot after re - examining their items. .

examining their items.