Participation
How it works
DeltaGuard conducts online auctions for machinery, vehicles, property and commercial opportunities. The sections below outline how participation works for buyers and sellers. The same rules apply to every auction on the platform.
For buyers
Identity verification
Participation begins with KYC verification, completed before registering for any auction. PAN and GSTIN details are stored in encrypted form and are visible only to the account holder, or in masked form to the DeltaGuard staff who review them.
Registration for an auction
Each auction requires its own registration. Registering records the participant’s acceptance of that auction’s terms, in the exact version presented at the time.
Earnest money deposit
Where an auction requires a deposit, it is paid by bank transfer and the proof of payment is uploaded. Bidding becomes available once DeltaGuard has verified the deposit. If the participant does not win, the deposit is refunded to their bank account after the auction closes.
Bidding
Every bid is binding. The platform validates, orders and timestamps each bid, and displays the lowest amount that may be bid next.
Completing a purchase
The successful bidder pays the balance and applicable fees by bank transfer within the period shown. The invoice itemises each fee and the rate applied. Once payment is received, the seller hands over the lot, and the buyer confirms receipt on the platform with photographs.
For sellers
Identity verification and membership
Sellers complete KYC and enrol in a seller membership. The membership plan determines how many listings may be under review or live at any one time.
Preparing a listing
The seller describes the asset, adds photographs and supporting documents, and submits the listing for review. A draft is visible only to the seller, and nothing is shown to bidders until DeltaGuard has approved the listing.
Verification
Seller KYC, authority, ownership and asset documents, site inspection and final approval are each assessed separately. A lot is described as verified only when every check has been completed.
Auction terms
The seller proposes the opening price, any reserve and the bid increment, which DeltaGuard reviews; the deposit payable by bidders is determined by DeltaGuard. The reserve is never disclosed to bidders. Before the auction goes live, the seller pays its Validation Fee, which is refunded when the sale completes.
Settlement
Once the buyer has paid and accepted the handover, DeltaGuard remits the sale price, net of the seller’s fees, to the seller’s verified bank account.
Bidding rules
A bid placed in the final minutes extends the auction, usually by two minutes; each auction page states its own window. This ensures that no participant can win simply by bidding a moment before the close.
The closing time is determined by the platform’s server clock rather than the participant’s device. A countdown reaching zero on screen is not decisive; the server accepts or declines each bid according to its own time.
Where a reserve applies and is not met, the lot is not sold. The reserve itself is never disclosed; only whether it has been met is shown.
The bid history is public, so that the progression of prices remains transparent, while bidders are identified only by their auction bidder number.
An auctioneer may void a bid, with the reason recorded. The bid remains in the auction record, marked as voided.
Fees
Standard fees are calculated as a percentage of the winning bid and are payable by both the seller and the buyer. Certain sales, such as those settled directly between buyer and seller, and certain membership plans carry different rates; the applicable rates are shown on the auction page and on the invoice.
| Payable by | Commission | Success fee | Total |
|---|---|---|---|
| Seller | 2% | 1% | 3% + GST |
| Successful buyer | 2% | 1% | 3% + GST |
For illustration, on a lot sold for ₹1,00,00,000, each party pays ₹3,00,000 plus applicable GST, comprising ₹2,00,000 in commission and ₹1,00,000 as a success fee. DeltaGuard does not provide tax advice.