FAQ

1. Why should i register in the website?

You will have to register yourself to participate in online auction event(s) conducted on this portal.

A Closed bid is called as an 'e-sealed bid'. It is an online bidding event in which participating bidders submit their bids/offers to the auctioneer. No bidder will know how many participants are there and the offers made by them. A bidder can submit any number of bids within the stipulated closing time, but the latest bid will supersede the previous bid of that bidder.

2. What is AutoBid?

"Auto Bid is not a confirmed bid. It is only the maximum ceiling amount/minimum floor amount set by the bidder to enable the auction engine to place bids on his behalf, whenever he is outbid, up to the ceiling/floor amount set by him. Once an Auto Bid is set, the auction engine will consider the ceiling/floor amount for the next possible bid only, depending on the highest/lowest bid prevailing at that point of time and the increment/decrement amount prescribed for that particular item. However Auto Bid cannot be set for amounts less than two increments/decrements to the highest/lowest bid prevailing at that point of time."

3. What is Time extension?

If any market-leading bid (bid higher than the highest at the point in time) is received within the last 3 minutes (“Time Extension” as mentioned in the Bidding Room will be in force & 3 Minutes is an example) of closing time, the time will be extended automatically by 3 minutes.

4. What is start price?

In a forward auction, the bid should be higher than the Start Price or the current price for the lot. In a Reverse Auction, the bid should be lesser than the Starting Price or the current price.

5. What is Max./Min. Ceiling Amount?

This is the limit upto which the system can bid on behalf of the bidder whenever any bid happens.

6. How do I change my mobile number or email Id?

After logging in with your credentials, click on 'Identity', then click on the respective 'Edit' button to change your Mobile Number or Email ID. Enter the new mobile number or email Id and click on 'Submit'. A verification code will be sent your email Id for validation. Check your email and enter the Verification code to complete the process.

7. How do I reset my password?

Click on the 'Forgot Password' link just below the login section. Enter your Username, Captcha and the registered Email Id. A verification code will be sent to your registered Email Id. Check your Email and enter the Verification code to complete the process.

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