WATCH HOW IT WORKS
Sign-up with your Nigerian Phone Number; this will be your bid paddle number each time you bid.
This information must be verified with a One-Time-Pass (OTP)
Before the auction day, we will publish items to be sold on a landing page.
Here you will see a list of vendors and their assets published for auction.
Auction is timed, you are required to enter an auction room that you are interested in, then click on the image of each asset to start bidding.
Winners are contacted and they are expected to pay for won items (Hammer price, VAT7.5% and Buyers' fee 10%) within 48 hours or lose the item to a runner up
You can view your won items by signing in, then click on MY BID in your home page.
All auctions are timed, every participant face the same time and chance to win.
When you win or lose, you can view bid history to see how the auction closed. bid entries are captured in milliseconds.
You will be banned if you are unable to meet your payment obligations.
More so if you are found to be abusing the auction process, we will ban you from the process.
Bid responsibly.
Registration fee is NGN10,000; this is a one-time sign-up fee. Paying your sign up fees enables you to bid for any asset published for auction by our clients.
This fee is necessary to discourage unserious users from signing up on our platform. It qualifies you to receive notifications when we are selling.
Buyers' payment areas include:
1. Hammer Price (winning amount)
2. VAT: 7.5% of the hammer price
3. Buyers' fee: 10% of the hammer price
Failure to meet the above obligations will incur a ban on the platform and you will lose the item to the next highest bidders
Sellers' listing are transparently presented to the buyers under a timed, competitive forward auction online.
This ensures that we maximize returns from the sales; which is where our fees (a percentage of the total revenue) will be derived from the seller.
Head Office: 18A Onikepo Akande street, road 12 Lekki phase 1 off admiralty way.
18A Onikepo Akande street, road 12 Lekki phase 1
+234 (0) 809 666 4448
info@i-naira.com