STEP 1: Registration
In order to register, click on REGISTER and provide us with all of the required information. Once you are registered, an automated email will be sent to you, confirming your registration approval. Please note that you will not be able to use the login and password until your registration is reviewed and approved. To ensure registration approval, please provide us with valid information such as your email, phone number, residential address etc. Your information will be kept confidential on our SSL secured server.
STEP 2: Deposit
In order to participate in the ‘BIDDING’ process, you have to place a deposit in your account. The minimum deposit amount is N5, 000.00, which qualifies you to participate in only one auction (i.e. to participate in a specific auction, a refundable Bidding Security Deposit of N5,000 will be charged from your wallet). We require deposit to ensure that you are committed to your bidding participation and you are making sincere and truthful “BIDS”.
You can make a deposit in the “WALLET” section of “MY ACCOUNT” page by clicking “WALLET TOP UP” and choosing your method of payment.
Deposit will be refunded upon your request. In your “MY ACCOUNT” page, click “WITHDRAWAL”; follow the link and instructions so that we could process your refund. Please note that processing of refund may take 24 hours and a fee will be charged per refund as bank charges and refund transaction fee.
If your “BID” was not successful, your deposit can be used towards the next “BID”; or can be refunded to you upon your request.
If you win a “BID” and do not redeem it at the stipulated time (see Terms and Condition), your security deposit for the “BID” will automatically be forfeited.
STEP 3: Bidding Process
Bidding window is 14days for each auction but may be extended by broker’s discretion, within this period, there is a preset starting bid price for every auction, whatever bids you are submitting through our website are taken as your commitment to win the auction. For example, (if the pre-set amount of the auction is N100,000 and you place a N110,000 bid, If your bid is the highest on the auction and meets the seller’s reserve, then you are the winner).
Please note, if you are the highest bidder during the auction and seller’s reserve has not been met, the item can still be sold to you or the bid may be cancelled upon the seller’s approval.
STEP 4: Bid Winning Redemption
Upon winning a bid, a notification will be sent to the winner via email. A winner must take possession of the item and make all payments related to the redemption of the item no later than 48 hours after the notification.