To be eligible to bid during an auction event, you must be a fully registered member on i-
naira.com. Click here to register.
Registration requirement includes:
- First and last names
- Phone number
Registration fee is NGN5,000. Only fully registered users can participate when an auction is running. After your registration, select Auction Rooms select Auction Rooms on your Menu Bar and you will see available ROOMS for vendors.
Each room has an admission fee which is NGN0.00 by default if the vendor prefers not to charge an entrance fee.
The fee deters unserious users from bidding and gives confidence to serious bidders to participate.
A room is opened within a period as set by the vendor. Default bid time is 8:00 AM to 5:00 PM on auction days.
When admitted into a room, you can then see the items a particular vendor is selling.
To bid for an item, click on any displayed image, a pop up application opens and gives more details about the item that you are interested in.
Then you have an option to select NOT NOW or BID NOW to bid.
- BID ID is the unique NO INB0000001. assigned to an item by our system.
- ITEM DESCRIPTION gives brief info about the item.
- HIGHEST BIDDER is the leading bidder and the winner.
- HIGHEST BID is the highest amount entered so far.
- START DATE is the time when the bid was opened.
- END DATE is when the bid closes.
- TIME LEFT captures how long the bid will last in hours, minutes & seconds.
- The INPUT BOX for bid entering is where bidders enter the amount they are offering for the item.
- RESERVE NOT MET highlighted in red show that the highest bidder will not win the item if it closes because the entered amount is below the value expectations of the client.
- MORE function shows bidders other available items.
- BID HISTORY shows all the bidders who bided for the item.
- SUBMIT is the button bidders click to submit their bids.
You are at liberty to bid for multiple items at the same time. When auction event closes, winners will emerge
- When bids close, a winner will emerge. A probe of the bid history gives all bidders, a clear picture of how a winner emerged. Moreso, bidders are advised to click on HOME and click on MY BIDS to verify if they won a bid
- If a bidder wins a bid, the system will prompt the winner to PAY NOW.
- When the customer clicks PAY NOW, the system will generate an invoice for the winner. Invoice analysis includes HAMMER PRICE, VAT and BUYER’S PREMIUM
- At this stage the customer is given two options; 1. Direct transfer to the specified account information or 2. Make payment through PAYSTACK
- Payment is received and winner receives an invoice with the unique bid Invoice number.Vendor is notified to hand over won item to the winner.
- The bid activity closes out.
- All assets are being sold "AS IS" and the sellers (all our clients) will not be held liable for whatever fault you may notice thereafter.
- No Refunds."As is" means that the seller is selling, and the buyer is buying an item in whatever condition it presently exists, and that the buyer is accepting the item "with all faults", whether or not immediately apparent.
- You are responsible for carrying out due diligence and inspection before bidding.