Frequently asked questions

An e-auction runs the same competitive process online rather than in a room. Bids are placed through the platform, timestamped and recorded, so every participant sees the same information at the same moment and the seller gets a complete audit trail. It also removes the travel and scheduling constraints that limit who can take part, which usually means a larger bidder pool and a better price.

Any registered business can participate once its registration has been verified. Registration collects your company details and statutory documents; some auctions additionally require an EMD (earnest money deposit) before bidding opens. Individual buyers can register for categories that permit it.

EMD is a refundable deposit that confirms a bidder is serious before they are allowed into an event. If you do not win, it is returned after the auction closes. If you win, it is adjusted against the amount payable. Deposits and refunds are tracked in your passbook on the platform.

Every bid is timestamped and logged, and the rules of each event — increments, extensions, reserve behaviour and close time — are published before bidding opens and cannot be changed mid-event. Lots with auto-extension only close once bidding has genuinely stopped, so a late bid cannot win purely on timing.

If you are selling, a forward auction suits most surplus and scrap; a Dutch auction clears time-sensitive material faster; a Yankee auction handles multiple identical units in one event. If you are buying, a reverse auction drives price down, and a pole position auction is right when you intend to split volume across several suppliers. If the decision is not price alone, use an e-tender. We will recommend a format if you tell us what you are trading.