How it works
How to register to bid at our Auction?
1. Registration
To bid at our online auction, you must first register by creating an account. To register please click the link below or visit the home page and click on the “Register to bid” button.
2. Create an Account
To create an account, you will be prompted to enter your personal details such as:
- Name
- Home Address
- Telephone number
- E-mail Address
3. Registration Fees
The firm will charge you a one-time registration fee of N1,000 (One Thousand Naira) if you intend to bid for personal items and/or the sum of N5,000 (Five Thousand Naira) if you intend to bid for vehicles and real estate. The fees can be made on our web payment platform.
4. Notification of Approval to Bid
Once the firm has received your registration form and registration fees, it will sent to you a Notification of Approval to Bid through e-mail.
5. Ability to Bid
On receipt of your Notification of Approval to bid, you will be able to bid when the online auction opens using your login details.
Your registration on our platform entitles you to bid on all auctions on our platform can bid as many times as possible on our platform once your online account has been approved by us.
Bidder's Guide to Online Auctions
- You don’t have to register to view the lots, but you MUST register to enable you to bid.
- The platform will not allow you to bid below the minimum bid for each lot unless the lot is to be sold without reserve (absolute auction); that is, there is no minimum price for that lot.
- To win an auction, you need to achieve the reserve price apart from being the highest bidder (except in cases of absolute auction, when the highest bidder wins the lot without doing more).
- Once you have won a lot, an invoice will be sent to your e-mail box and you can make payments for the goods following the advise given on the invoice.
- Please note that apart from the bid price, your invoice will also advise you to pay the Buyer’s Premium (which is 10% of the Bid Price and VAT for Personal Property and 5% of the Bid Price for Real Estate).
- A Buyer’s Premium is a percentage of the hammer price which is added to the final bid price, for example, if the hammer price or the amount the lot is sold for is N100 and there is a Buyer’s Premium of 10% on the lot, that means the sum of N10 being 10% for Buyer’s Premium will be added to the N100 hammer price to make the sum payable less VAT to be N110.
- In case of Real Estate, you will be required to pay a non-refundable deposit of 10% (Ten Percent) deposit immediately upon winning the bid and pay the balance sum of 90% on or before 7 (seven days) of winning the bid.
- The buyer will make arrangements for pick-up of the movable items after our firm has received full payment.
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