Frequently Asked Questions
• Increase in participation resulting into better value realization
• Easy auction creation to manage disposals at faster speed
• Arrange concurrent auctions to save on time & resource
• Clarity in specification & terms reduces ambiguity
• BidMasters uniquely provides a feature of Lifting Facilitation
• On completion of auction , you get quick decision reports
• Ensures transparent bidding
• Assess to more business opportunities
• Features like Auto-bid ensures time saving for bidders
• Thoroughly tested systems enhances ease of doing business
• Auction catalogue gives full specification clarity
• Option of track lifting instructions by seller , enhancing customer satisfaction
• Enables faster communication between seller & bidders
Please click on the “Register as seller” or “Register as bidder” tab. An OTP will sent on registered email ID and mobile number to proceed ahead. By verifying OTP , you can secure password and fill in the form and upload the requisite documents. Your request will be sent to BidMasters admin. After admin approval you will be registered as a valid Seller/Bidder.
Once the registration process is complete. User will have to opt for requisite subscription plan, proceed to make the payment & activate your account. Alternately you can get in contact with Team BidMasters @7696670077 or email@example.com to understand the plan
After completion of subscription process , Team BidMasters will get in touch with you for a training on how to make an auction event live to ensure process effectiveness.
User has to click on create an auction tab and fill the mandatory info and submit the data to make an auction event live. The request will get forwarded to BidMasters admin and after thorough review either event will be approved for going live or shall be sent to user for review back in case of information incompleteness. There is an option to add multiple articles /lots in an auction event. For managing the auction efficiently, it is recommended to keep maximum of 10-15 articles in a particular auction event.
Latest new auctions will appear on the home page of the BidMasters.in. You can also find new auctions, when you login to your profile. You can search the right auction by City / by Commodity group which may be relevant to you.
Additionally Team BidMasters will also keep you posted on relevant options through SMS and mailers to increase business prospects for you.
Login to your profile, go to the new auctions tab. There will be a tab displaying new auctions. Click on the participate option, complete the formalities and deposit EMD. Your request will be forwarded to seller for verification. Once approved by seller, you can participate by entering the bidding room, when the auction is live as per the time slot.
EMD stands for earnest money deposit. It is the deposit made to a seller indicating the buyer's good faith in an arrangement. EMD is to be deposited by bidder with the seller to be eligible for participation in a particular auction as per details mentioned in the auction catalogue for that event.
Bidder gets an EMD refund in case bidder is not successful for a particular article and is retained by seller as a security for articles where the bid is declared successful.
For bidding, buyer has to first send request to seller for participation in auction along with EMD, once seller approves, bidder can enter the auction room to bid on items. Bidder will have to select the item and enter a higher amount w.r.t start price or competition bid.
It is the time for which bidding will continue after the bidding close time defined by Seller. It is operational in case a bidder places a bid within 5 minutes of closing time. The close time will be extended by 5 minutes from the time of last bid. The extension continues until the competition doesn’t surpasses the H1 bid.
The amount defined by seller for a particular item by which the bidder will increase his bid during bidding process. Amount entered less than min increment will not be accepted by the system. Increment in multiples of min. bid increment is possible.
Auction Catalogue consists of all important information of the material being disposed. It contains item description, taxes, quantity, EMD details & lifting frequency etc. Bidder can download auction catalogue for the selected auction event.Auction catalogue is a sort of legal binding contract of auction terms & condition. Bidder participation request will be considered as an acceptance to the terms irrevocably.
We can connect @7696670077 or mail at firstname.lastname@example.org
Yes, user can go his profile and made the necessary changes and submit, once admin verifies the details, it will be updated in the system.
Reserve price is the minimum target price fixed for a particular item by the seller below which the sale will not get finalized. In case H1 bid is below reserve price the seller may cancel that item and can consider for re-auction.
Price at which bidding for particular item will start. Bidder can’t make a first bid lower than start bid wherever Bid Start Price is defined by the seller on the auction event.
Bid rank depicts the position of your bid w.r.t competition. Your bid rank will be visible after you submit your bid. If your bid is highest, your bid rank will be 1 and subsequently if some other bidder submits a higher bid, his bid rank will be 1 and your rank will be 2.
After auction is completed, the compiled auction report will get submitted to the seller for final decision.Seller may take few days for internal discussions and may accept the H1 bids. In case you are H1 bidder & your bid is accepted by seller, you will get an e-mail.
Lifting instruction is a formal communication by seller to the bidder about lifting of the material. As seller creates a lifting instruction, a mail will be sent to bidder’s registered mail id. Bidder can see the lifting instruction on his dashboard & make entries to communicate with seller on portal. Same way, bidder can enter the quantity being lifted in this section. This is to facilitate the transparent communication between seller & bidder.
Bidder can instruct the system to bid on his behalf by selecting the bid increment amount and maximum amount limit up to which bidder would like to bid for a particular item. It can help you be active participant while saving time for you.
Lot inspection date and venue will be mentioned in auction catalogue. It will contain the contact details of the person for meeting.
No, it is not allowed. System will prompt twice to enter the bid, user has to take utmost care while entering the bid. Once bid is submitted it will be binding on the bidder.
This feature is to generate a database of how was the bidder / seller experience of dealing with each other for a particular auction. User can rate each other based on important parameters and submit. It will add to the rating of respective user for them to use as a base for improvement and as a help for other users to make learned business decisions.
User has the option to block or unblock seller / bidders for a particular auction or for a defined time period. In such case bidder will not be able to see that particular auction by the blocked seller. User can go to the Manage Seller / Bidder tab is their respective dashboards and process the block / unblock request.
Users will get an auto intimation when subscription is due to be renewed 1 month before and in case of auction number wise plan, an intimation will pop-up when 3 auctions creation / participation is left.