Participants in MSTC auctions have been urged to exercise extreme caution while placing bids, as improper bidding can lead to ID blocks and forfeiture of deposits. Auction experts highlight that many new and inexperienced bidders have faced losses due to misunderstanding auction formats.
According to industry insiders, participants must first check whether an auction is running per lot, per kg, or per metric ton, and place bids accordingly. Failure to do so can result in blocked accounts and lost EMD (Earnest Money Deposit).
Guidelines for Successful Bidding:
Always review the auction terms and bid carefully.
Inspect the items before purchase; buying unseen goods can lead to losses.
Beginners are advised to seek guidance from experts before participating in auctions.
In a recent MSTC auction, four Maruti Swift Dzire (2016 model) cars were listed. The highest bids reached ₹9.26 lakh per vehicle, with additional costs including 18% GST, re-registration, tyres, and battery replacements, bringing the total expense to approximately ₹3.35 lakh per car. Experts caution that the potential profit may be limited given market rates and additional charges.
Auction specialists also note that MSTC auctions are considered secondary business options, and newcomers should avoid participating without proper guidance. Paid consultation is available to help bidders navigate the auction process, including step-by-step bidding and account management.
Authorities and experts stress that careful planning, inspection of goods, and adherence to auction rules are critical to avoid financial losses.
MSTC Limited, formerly known as Metal Scrap Trade Corporation Limited, is a government-owned company in India that specializes in various e-commerce and e-auction services. One of the services it provides is the auctioning of vehicles, including both used and surplus government vehicles. These auctions are typically conducted online through their e-commerce platform.
If you're interested in participating in vehicle auctions conducted by MSTCecommerce, you can visit their official website or e-commerce portal to find information about upcoming auctions, registration details, and the specific vehicles that will be available for bidding.
MSTC Limited is a government-owned e-commerce company that conducts e auctions for a variety of assets, including vehicles. The MSTC vehicle auction process typically involves the following steps:
Registration: Interested buyers must first register with MSTC and obtain a login ID and password to participate in the auction.
Inspection: The vehicles to be auctioned are usually available for inspection at a designated location on a specific date and time. Buyers can inspect the vehicles and assess their condition before placing their bids.
Bidding: The auction is conducted online, and registered buyers can bid on the vehicles they are interested in. The bidding process typically lasts for a specified period, during which buyers can submit their bids.
Payment: Once the auction is closed, the highest bidder is declared the winner. The buyer must then make the payment within the specified time frame to complete the transaction.
Delivery: After the payment is received, the buyer must collect the vehicle from the designated location within the specified time frame. MSTC will provide the necessary documents, such as the registration certificate, transfer certificate, and insurance certificate, to the buyer.
https://www.mstcecommerce.com/auctionhome/mstc/help.htm
Latest Vehicle Auction Properties: https://www.eauctionsindia.com/category/vehicle-auctions
It is important to note that MSTC may impose certain conditions and requirements for participation in the vehicle auction process. Interested buyers should carefully review the terms and conditions of the auction before registering and placing their bids.
Online Auctioning Services: MSTC eCommerce offers auction services for products like coal, iron ore, ferrous and non-ferrous scrap, and even high-value properties. Whether you’re an individual buyer or a large corporation, MSTC allows you to participate in open, transparent bidding.
E-Procurement Solutions: The platform facilitates e-tendering and reverse auctions, where organizations can procure goods and services with ease. Government agencies widely use this platform, ensuring compliance and transparency.
Digital Onboarding and Security: MSTC eCommerce provides a secure digital registration process for new users, incorporating security features like a Digital Signature Certificate (DSC) for safe transactions.
End-to-End Support: The platform includes helpdesk support and tutorials, making it easy for first-time bidders to understand the procedures involved in auctions and e-procurement.
Detailed Buyer-Seller Profile Management: Users can easily manage their profiles, track bidding history, and view documents and certifications required for various auctions.
To access MSTC eCommerce, you need to complete a straightforward registration process:
With MSTC eCommerce, you have a world of options in various sectors:
The bidding process is designed to be intuitive and user-centric:
1. Is it safe to use MSTC eCommerce for online auctions?
Absolutely! MSTC incorporates high-level security measures, such as encrypted login credentials and DSC validation, ensuring safe transactions.
2. Can individuals participate in MSTC eCommerce auctions?
Yes, MSTC auctions are open to both individuals and organizations, as long as they meet the eligibility and registration requirements.
3. What are the charges for using MSTC eCommerce?
MSTC charges nominal fees, which may vary based on the type of auction. Details are available on the website for each auction category.