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An auction is a competitive process where an item or Lot is offered for bidding. Eligible bidders submit bids during a specified period, and the successful bidder is determined according to the rules of the auction.
A Seller lists an item on DrukBid with its details, price, auction period and applicable conditions. Eligible users register and complete any required qualification, deposit or fee before bidding. Bidders then submit their bids during the auction period. Once the auction closes, the result is determined according to the applicable auction rules. The Winning Bidder then completes payment and collection or handover.
DrukBid offers Open Bid and Sealed Bid auctions. In an Open Bid auction, bidders can see the current bidding activity and compete by placing higher valid bids. In a Sealed Bid auction, bidders submit their bids without seeing other bidders' submitted amounts during the bidding period. The specific rules and award conditions will be displayed for each auction.
Eligible individuals and authorized representatives of organizations can participate, subject to the requirements of each auction. Users may need to register and verify their account, meet eligibility requirements, and complete any required deposit, fee or documentation before bidding.
If you are the Winning Bidder, you must complete any required verification, pay the Winning Payment and applicable charges within the stated deadline, and collect or accept delivery of the item within the specified Collection Period. Please review all auction conditions before bidding, as a bid may create a payment obligation.
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