Sale terms, in plain words
These are the rules for every sale (terms version 2026-10-v1). The full legal terms will be reviewed by counsel before launch; this page is the short version every bidder should read.
Buyer's premium and GST
The buyer's premium is 18% of the hammer price. GST at 18% is charged on the premium only. Every price on the site is shown both as hammer and all in. Example: a ₹12,000 hammer price comes to ₹14,549 all in (₹12,000 + ₹2,160 premium + ₹389 GST).
How bidding works
- You must register with a verified mobile number and a PAN approved by our team.
- A maximum bid is private. We bid for you in the published increments only as much as needed to keep you ahead.
- Increments: ₹100 up to ₹2,000; ₹250 to ₹5,000; ₹500 to ₹10,000; ₹1,000 to ₹50,000; ₹2,500 above that.
- Lots close one minute apart in lot order. A bid in the final 2 minutes adds 2 minutes to that lot.
- A placed bid cannot be withdrawn. Staff of the house may not bid.
Payment and delivery
- Your GST invoice is sent by email after the lot closes, and is always in My invoices.
- Pay by NEFT, RTGS or IMPS within 7 days, only to the account printed on your invoice. We never send bank details by WhatsApp or phone.
- Insured courier within India, quoted on the invoice, or collect free from our Chennai office after payment clears.
- Lots more than 100 years old are sold for collection within India and cannot be exported.
Payment and EMD policy
Draft: the house has not yet approved this policy. It is shown for testing.
- Payment is due within 7 days of the sale closing.
- Grace period: 3 days after the due date.
- An EMD held for this sale is refunded separately once the invoice is paid.
- An account with an invoice unpaid after the grace period is suspended from bidding.
- DRAFT, pending the owner: if an invoice is not paid in full by the end of the grace period, the house may cancel the sale of the lot, keep the EMD held for that sale, and offer the lot to the under-bidder or in a later sale.
DRAFT policy for testing on staging. The house has not yet approved these terms.
Payment
- Pay the full invoice by bank transfer (NEFT, RTGS, IMPS or UPI) within the due days shown on your invoice.
- Use the invoice number as the payment reference and send the UTR from My invoices.
Earnest money deposit (EMD)
- Some sales ask for an EMD before you can bid. Bidders who do not win get it back after the sale.
- A winning bidder’s EMD is returned once their invoices for the sale are paid.
Non-payment
- After the due date and the grace period the house may charge a late fee, keep the EMD and suspend the account, as set out on this page.
Privacy
We collect your name, mobile, email and PAN to verify you, run the sale and issue invoices. Other bidders see only your bidder number. We do not sell or share your details, and you can ask us to delete your account after any open invoice is settled.
Contact and viewing
Bidfe Auctions (DEMO details), 1 Demo Street, Alwarpet. Viewing by appointment, 11 AM to 6 PM IST, Monday to Saturday.
WhatsApp +91 98400 12345 · Phone 044 2499 1180 · Email accounts@bidfe.local