Got questions about scrap bidding or selling?
We’ve got answers! Whether you’re a bidder looking for the best deals or a corporate seller aiming for a seamless auction process, explore our FAQs to get all the information you need.
To participate in scrap auctions, you need to register on the BidMyScrap platform by creating an account. Simply sign up with your basic details, complete the required verification process, and submit the necessary business information. Once your registration is reviewed and approved, you can access available scrap listings and start bidding on auctions.
A wide range of scrap materials is available, including metal (steel, iron, aluminium, copper), plastic, ewaste, machinery, paper, and construction scrap.
The process involves browsing listings, placing bids, competing in real-time, and winning based on the highest bid. After confirmation and payment, the buyer arranges material pickup as per the terms.
Payments are typically made after winning the auction within the given timeline. Buyers may need to submit an EMD (refundable deposit), and payments are accepted via bank transfer (NEFT/RTGS/IMPS) or online methods. Applicable taxes and charges are extra, and material is released only after full payment confirmation.
You can track your bids and auction results through your dashboard. It shows your active bids, bid status, and final results once the auction closes. Notifications and updates may also be shared via email or SMS.
Register, upload scrap details with images, set terms, and list your lot for bidding.
To sell scrap, you typically need to provide basic business documents such as GST registration, PAN card, company registration details, and address proof. Additional documents may be required based on the type of scrap and seller verification process.
The platform ensures fair bidding through a transparent, time-bound auction system where all participants follow predefined rules. Features like real-time bid tracking, fixed bid increments, and automated auction closure help prevent manipulation. In some cases, seller approval and audit logs further ensure the integrity of the process.
Payment is usually processed after the buyer completes the transaction as per the agreed terms. Once payment is received and verified, it is released to the seller within the specified timeline, which may vary depending on the auction terms and documentation completion.
Yes, you can set a reserve price, which is the minimum price at which your scrap will be sold. If bids do not meet this price, the auction may close without a sale.