How are auctions in the ProZorro.Sale system worked

  • State requester posts an announcement about an auction online: price, name of an auction’s subject, lot description, requirements for Buyers and starting price. Details for the organizers 
  • Buyer reads the announcement (or subscripts at one of the electronic platforms and gets the news on an e-mail or mobile phone) and chooses the trades he or she is interested in 
  • Buyer sends his or her offer to the bidding system through his personal cabinet 
  • After the offers’ acceptance is over, the system discloses only the bids of the buyers and each one of them can in the interactive mode increase one’s offer 
  • After the auction is finished, the system discloses all of the information about the bidders and chooses the winning bidder by the highest price 
  • The winning bidder must confirm documentarily that he meets the requirements of the requester and sign the bidding protocol 
  • The winning bidder pays the price of an asset, the Customer publishes the contract in the system and the trading is finished
  • Information about the announced biddings is identical through all of the platforms, so choose a platform by its convenience and service quality

The information about the announced auctionss is identical through all of the platforms

Do not delay an initial offer till offer deadline

Do not delay an initial offer till offer deadline. The world we live in is not ideal, so the Internet connection and electrical breakdown may occur, a computer may freeze or you may not download the necessary documents in time. Downloaded offers remain sealed to absolutely everyone until the auction’s end, so the time when you make an offer does not matter. 

We advise to start downloading all the necessary information into the system at least one hour prior to the end of offers’ acceptance.

6 STEPS TO WIN A BID IN AN AUCTION

  1. Make sure that you entered the Auction’s page in participant’s mode, not the observer’s

    Your competitors will be called “Bidder #1”, “Bidder #2”…, and your line has to be labelled as “You”

  2. Check the starting time of the Auction

    Ensure the stability of your Internet connection for this period. Every auction takes from 30 minutes to an hour

  3. Get an advantage even before the start of the Auction

    The last bid of every round is made by the Bidder who made an offer with the highest price. Try to make the initial offer higher than the starting price

  4. Keep an eye on the time of your turn

    When the time of your turn comes, a form will open at the bottom of the screen, so the price offer could be made. You will have 3 minutes to make your bid. Make sure that you got a “Your offer was accepted” message

  5. If there is only one round left and your turn is not the last one, do not leave the Auction – you may still win

    Bid the maximum sum you were counting on for buying the asset. Even if you get the second place, you may still become a bid winner, if the first Bidder will be disqualified

  6. Pay for an asset and sign the necessary documents in time

    Time of signing and bidding protocol download, as well as such of the contracts, is strictly regulated. It is important to finish all of the actions in time.

Electronic platforms

Select any Broker for participation. Information about all auctions is identical across all Brokers. Choose Broker by ease of use and quality of service

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