How It Works
Seven steps from listing to remittance. Zero human discretion at any point.
Register Your Organisation
Provide your company registration details, designate an authorised signatory, and link a settlement bank account. This is a one-time setup. Once verified, you can create unlimited auction cycles.
We verify your registration against public records, confirm signatory authority, and validate your bank account via our payment partner.
List Your Assets
Upload photos, descriptions, and starting prices for each asset. Vehicles, office equipment, industrial machinery, real estate, electronics — any asset type with a configurable category schema.
Each asset gets its own listing with multiple photos, detailed specifications, and a starting price. Bulk upload via spreadsheet is supported.
Configure & Launch
Set the auction rules: duration, minimum bid increment, participant mode (internal only, external only, or mixed), and whether salary advance is available for staff bidders.
Once you launch, every rule locks. No one — not you, not your team, not Auctioneer — can change the parameters while the auction is live.
Auctioneer Manages the Auction
Your auction is published to our national bidder marketplace. Bidders pay the ₦5,375 gate fee and compete in real time. Anti-sniping protection extends closing if late bids arrive.
Outbid notifications go out via WhatsApp instantly. Bidder identities are anonymised during the live auction — even Auctioneer operators cannot see who is bidding.
System Determines Winners
When the auction closes, the winner determination algorithm runs automatically. It freezes all bids, sweeps assets from highest value to lowest, assigns to the highest bidder, and repeats until stable.
This algorithm is deterministic, non-configurable, and identical for every auction. No admin, no manager, and no one at Auctioneer can alter the output.
Winners Pay & Collect
Payment links are sent to winners immediately via WhatsApp and email. Winners pay through Paystack. At collection, both parties confirm handover with photographic evidence and a signed certificate.
Staff bidders with salary advance enabled pay 50% upfront. The remaining 50% is handled via payroll deduction — that is between the organisation and the employee.
We Remit to You
A remittance report is auto-generated showing hammer values, fees, and net proceeds. You review and confirm. We transfer net proceeds to your settlement account, typically within 5 business days.
The 4% success fee is calculated on total hammer value and deducted at source. Reports are available to Finance and Compliance at any time.
Staff equity
Junior and senior staff compete on equal terms.
When you enable the salary advance option, staff winners pay 50% upfront. The remaining 50% is deducted from salary over 3, 6, or 12 months — your configuration.
The result: A driver on ₦120,000/month competes on exactly the same terms as a senior manager. Capital is no longer the barrier.
“The outsourced driver at our reference deployment who argued against including external bidders later registered as an external bidder and won a vehicle through open competition. That is the platform working exactly as designed.”
Ready to start?
No setup fee. No monthly subscription. You only pay when assets sell.