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FREQUENTLY ASKED QUESTIONS

Answer: To bid in AucJunction.com, you need to be a registered buyer. Register at "https://www.aucjunction.com/bidderregistration" and complete the form. Your user ID and password will be sent to your registered email. After paying the Subscription fee, your login will be activated. You must then pay EMD (Earnest Money Deposit) for each auction you wish to participate in. Once the auction is active, you can bid as many times as you like using either straight bidding (entering an amount higher than current bid) or automatic bidding (setting a maximum bid with pre-specified increments).
Answer: Forward Bidding is an auction process where sellers initiate the auction to sell their assets. Bidders compete by placing bids, with the highest bidder winning the auction. In contrast, Reverse Auctions are initiated by buyers looking to purchase assets, where sellers compete to offer the lowest price. Both are Online Bidding Events - processes for price determination through competitive interaction between bidders on the AucJunction platform.
Answer: You will be notified by email when you win an auction. You must then pay the requisite amount as material value for your winning bid to Shopemet Networks Pvt Ltd (offline). After payment, Shopemet Networks Pvt Ltd will provide you with a Delivery Order, which you need to present to the seller for collecting the material. Payment should be made to the Bangalore Branch of Shopemet Networks Pvt Ltd unless specified otherwise.
Answer: Automatic bidding (also called proxy bidding) places bids on your behalf at pre-specified increments. Simply enter your maximum bid (the highest amount you're willing to pay) and the increment amount. For example, if the current H1 bid is Rs. 200 and you set a maximum of Rs. 1000 with Rs. 10 increments, the system will record your bid as Rs. 210. If another bidder bids above Rs. 210, the system automatically increases your bid by the increment amount until your maximum of Rs. 1000 is reached. You can only place one autobid per item at any time before the lot closes.
Answer: No, after you place a bid on an auction item, you cannot cancel it. Before bidding, make sure you are willing to purchase the item and have sufficient funds to complete the transaction if you win. All bids are considered binding commitments.
Answer: EMD (Earnest Money Deposit) is a security deposit that must be paid for each auction you want to participate in. There is no limit to the number of auctions you can bid on - you can bid on any auction for which you have paid the EMD. As long as an auction is active, you can place as many bids as you like.
Answer: The reserve price is the lowest price the seller is willing to accept for an auction item. Every seller sets a reserve price for each item before the auction starts. The auction will only be successful if the final bid meets or exceeds the reserve price.