How It Works | BidVantage

1

Registration & Verification

To maintain a secure marketplace, all users must complete a verified registration process. This prevents fraud and ensures all bids are genuine.

Create an account with a valid email address.
Upload a Government-Issued ID (Passport or Driver's License).
Verify your phone number via SMS OTP.

2

Financial Qualification

Before you can place bids on high-value assets, you must prove financial intent. This helps us filter out non-serious bidders.

Refundable Security Deposit

You must place a refundable deposit (₹1,000 for vehicles, ₹5,000 for properties) to unlock bidding privileges.

Note: This deposit is 100% refundable if you do not win an auction.

3

The Bidding Process

Our auctions happen in real-time. When you find an asset you want, you can place a bid manually or set a "Max Bid" for the system to bid on your behalf.

Bid Increments

Bids must increase by the minimum increment (e.g., +₹500). You cannot bid lower than the current price + increment.

Anti-Sniping

If a bid is placed in the final 2 minutes, the clock resets to 2 minutes to ensure everyone has a fair chance to react.

4

Winning & Payment

Congratulations, you won! Once the hammer drops, the sale is legally binding. You will receive an invoice immediately via email.

Payment Window: Full payment must be wired to our escrow account within 48 hours.
Buyer's Premium: A 4.5% platform fee is added to the final hammer price.
Escrow: We hold your funds securely until the seller transfers the title/documents to you.

5

Asset Handover

Once funds are verified in escrow, the seller releases the asset.

Local Pickup: You can pick up the item personally.
Shipping: We can connect you with verified logistics partners for white-glove delivery worldwide.

Once you confirm receipt and condition, we release funds to the seller.

Individual Customer

Professional Dealer

Mastering the Auction Process