Auction Process
WHO ARE WE
Bidding (Physical Auctions)
Bid2Buy Botswana continues to prioritize physical auctions as a cornerstone of their operations. The process for these events is as follows:
01
Entrance Fee:
A non-refundable entrance fee of P50 is required for registration, in accordance with the terms and conditions of the specific auction category.
02
During Registration:
A bidder is assigned a paddle number to use for bidding.
03
On-Site Registration:
All participants must attend the auction in person and register before bidding begins.
04
Live Bidding:
Participants place bids clearly following the auctioneer’s instructions. The highest bidder at the fall of the hammer wins the item.
05
Identification:
As part of our policies bidders must present a valid form of identification, such as an Omang or Passport, during the registration process.
WHO ARE WE
Bidding (Online Auctions)
For digital events, users must Register and Login to their verified Bid2Buy account. The platform supports Proxy Bidding, allowing users to set a maximum limit; the system then automatically bids on their behalf in increments to maintain their lead up to that specified amount.
Seller Registration:
Sellers must contact Bid2Buy and submit details of the items or assets they wish to auction.
Item Assessment:
The Bid2Buy team reviews the submitted items and advises on suitability for auction, including guidance on reserve pricing where applicable.
Submission of Items:
All items must be submitted within the agreed timeframe prior to the auction for cataloguing and marketing.
Cataloging:
Items are photographed, described, and prepared for listing in the auction catalog.
Marketing:
Bid2Buy promotes the auction and listed items across its platforms to attract potential buyers.
Auction Day:
tems are presented either at a physical auction venue or published on the online platform for bidding.
Bidding Process:
Buyers compete by placing bids. The highest bid at the fall of the hammer (or close of the online auction) wins, subject to meeting the reserve price.
Payment Collection:
Bid2Buy collects payment from the buyer in accordance with the auction terms and conditions.
Seller Payout:
Once payment is secured, the seller receives the proceeds minus the agreed commission.
Collection / Transfer:
The buyer collects the item, and where applicable, ownership documentation is processed.
WHAT WE DO
Supported Services
Bid2Buy offers a range of professional services to support the auction process:
Storage and Logistics:
Secure solutions for asset holding and movement.
Asset Assessment:
Expert evaluation of item condition and market readiness.
Reporting:
Detailed analytics for corporate and institutional clients.
Valuation:
Professional appraisals to ensure assets realize their true market value.