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📌Frequently Asked Questions (FAQs)

Find answers to common questions about Prime Trade Auctions

Registering is quick and easy.

  • Visit www.primetradeauctions.com
  • Click on "Sign up/Sign in" in the top right corner
  • Fill in the username/email address and password
  • Fill in the required details and upload the necessary documents
  • Once submitted, our team will verify your information and approve your account within 24–48 hours

To register, you'll need:

  • A valid mobile number and email ID
  • A PAN card and GST certificate (for businesses)
  • Address proof – Aadhaar, Utility Bill, or Company Registration Document
  • CPCB/SPCB Certificate
  • A cancelled cheque
  • IEC code

Note: KYC is mandatory to bid or list on the platform.

Here's how our auctions work:

  1. 1Browse or search live auctions in your preferred category
  2. 2Review details including product info, inspection dates, and lot images from the catalogue
  3. 3Subscribe to the particular auction by submitting an EMD amount
  4. 4Place bids during the live auction window
  5. 5Winning bidders receive confirmation via email and dashboard notifications
  6. 6Make payment as per invoice within the given deadline
  7. 7Collect goods from the specified location or arrange for logistics

Here are a few key terms:

Reserve Price

Minimum price set by the seller

EMD (Earnest Money Deposit)

A refundable deposit required to bid in some auctions

Lot

A single auction item or a group of items sold together

Buyer's Premium

A small fee charged to the winning bidder, usually a % of the final price

A full glossary is available in T&C under definition section.

  • Payment must be made via bank transfer or NEFT/RTGS within the deadline mentioned in your invoice
  • Once payment is received, you'll get confirmation and pickup instructions
  • In case of non-payment, the lot may be offered to the next highest bidder and penalties may apply

Can I cancel my bid after placing it?

No. All bids are legally binding. Please bid only if you are serious.

Is there a fee to register?

Yes, there is a subscription fee of ₹10,000 for buyers. However, there is no registration fee for sellers. Participants will have to pay an EMD amount to participate in a particular auction (EMD for every auction would vary).

Can I visit the items before bidding?

Yes. We clearly mention inspection dates and locations for each auction. Physical inspection is encouraged wherever applicable.

How do I know if I've won an auction?

🏆Winners receive automated emails and dashboard alerts once the auction closes.

I'm a seller. How can I list my items?

You can contact us at admin@primetradeauctions.com. Our category manager will reach out for onboarding.

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