FREQUENTLY ASKED QUESTIONS

 

What is E-AUCTIONEER.IN ?

E -Auctioneer.in is an Online Auction Platform for facilitating buying and selling of Salvage / Scrap available anywhere from anywhere. We provide a marketplace/platform for buyer and sellers to meet for salvage disposal in a transparent and efficient manner.

 

Why E-Euactioneer.in?

We consider ourselves as loss minimisation Experts. We specialise in maximising the salvage sale proceeds by way of:

 

1. Services Aligned with Industry Governing Bodies

We have designed our processes to be in line with CVC, IRDA, GIPSA and CBDT guidelines at each step. This ensures our services fulfil all the audit and statutory requirements of clients.

 

2. Salvage Management:

By assisting the seller to organise and quantify the available salvage, identify and segregate various components across saleable groups/subgroups as per market needs.

 

3. Extensive Market making –

We have highly qualified, trained and experienced market makers who work with the aid of latest technology platforms to reach out to widest possible customer base for a given item on sale.
 

4. Cutting Edge Technology and processes to ensure fair and competitive bidding.

Our E-Auction platform uses the state of the Art Technology, ensuring most efficient, transparent and hassle free competitive bidding. Our E-Auction platform is specially designed to be extremely responsive and user friendly to allow real-time bidding.

We also have provision for observer login ids, who can participate in the bid just as a witness, thus watching the entire process real time. Also detailed reports are issued after the bid giving full details of the bidding taken place.

 

5. Experience Leadership and management Team.

All the above is backed by management and advisory team, who hails from premiere Institute likes, IIT, IIM and FMS and are carrying long range experience in Information Technology, Asset Valuation and Disposal, Insurance claims (For deft handling of Insurance Salvage), Market Database management etc. We are incessantly working on improving our platform, Buyer database and associated processes to provide best value to the salvage sellers.

 

How to register on the website?

Only one time registration is required to assess the website. On the first page you will see the option to either ‘register with us’ or ‘login in’. If you are coming to the website for the first time you will need to register yourself for assessing the detailed content. Click on Register with us. Fill the registration form correctly, specially your email id, phone no., Categories in which you deal in etc. After due backend processing, within 24 hours you will receive your Login Id and Password for logging in the website.

 

 

Do I have to register every time?

No, you have to register only once. Once registered, you simply log in with your Login ID and password.

 

How to Bid in E-Auction?

To bid you need to be a registered user at the website www.eauctioneer.in

After filling the online registration form, you will be issued a Login Id and Password by the Administrator to enter the homepage of the website.

 

There are two types of Auctions:

1. Reserved Bidding (EMD paid in Advance by all participants)

2. Open Bidding (EMD paid only by winner of bid)

 

1. Reserved E-Auctions: This is typically held for a short duration 1 - 2 hours, on a predefined date and time. Also the participants are predefined. In General, High Value Items are usually sold through Reserved Bidding.

 

To participate in Reserved Bidding, one needs to download and fill E-Auction Participation Form and deposit required EMD and participation fee either by DD/RTGS. After due processing, registered user are given required rights to access the Reserved Bidding Lounge.

 

To start the bidding one need to log in to the site and click on the Salvage in Available Salvage Area for which one is bidding. However bid could be placed only on designated time, when the countdown clock starts in the auction room. 

The bid extends by 3 minutes if any bidder puts bid in last one minute. Therefore provides a fair bidding chance to all buyers who are participating.

 

2. Open Bidding (EMD paid only by winner of bid)

Lower Value / Low Demand Items are usually sold through Extended Bidding. The bidding duration is usually for a period of 7-15 days.

 

For public auctions, all registered users can simply place a bid online. There is no need to fill E-Auction Participation Form and no EMD is required to be deposited before placing the bid

 

How to Search relevant Salvage?

Active and Upcoming Auctions can be seen in the main menu tabs. Auctions can also be searched on basis of Location and Category. All the listings are always shown in a sequential order of bidding date, i.e., Earliest bidding date items comes on top. Also Reserved Bidding as a group comes first followed by the Extended Bidding Group. One can access the details like photographs, description, reserve price, auction date etc. by clicking on any item in the listing.

 

Are there any Terms & Conditions for participating in the E-Auctions?

Yes. Each seller has their own set of Terms of Conditions and Participation in the particular bid is subject to their own set of Terms & Conditions. Instructions and Rules are specific to each Listing. They are displayed with every listing. The prospective bidders are expected to carefully read all the Terms & Conditions before participating and agree to the same before bidding. In fact, it is mandatory to agree to these Terms and conditions each time a bid is placed or increment by a user.

 

Do I need to share my credit/debit card details?

No, you do not need to give any credit /debit card details to us for registering, browsing or participating in auctions on this site.

 

How do I update my personal information?

You need to sign in and go to 'My Account' page to change your personal details.

 

What is EMD?

EMD is an Earnest Money Deposit. It is a sum of money deposited with a third party EMD can be deposited as DD/RTGS. It is to ensure that buyers participating auction have serious interest in purchasing the Salvage.

 

For Reserved Bidding a potential buyer is required to deposits the EMD with us before the auction. On successful completion of the bidding, the EMD of H1 bidder is retained with us and EMD’s of other bidders are returned within 7-8 days.

 

For Extended Bidding the EMD required to be submitted by the winning bidder post the auction but prior to approval from the seller.

 

What is a Watch List?

The Watch list allows you to track the status of items in which you are interested. To add an item to your Watch list, click "Add to Watch list" link on relevant auction page. You can access your Watch List from “My Account” page.