Remarketing, for sellers
How our auctions work
List your vehicles at the yard, let checked bidders compete for them, and approve each sale yourself. Buyers pay you directly. We never hold your money.
Anita runs vehicle sales at a finance company in Pune. Her yard lists 40 repossessed trucks. Her finance team confirms each EMD as it comes in, she approves the best prices, and every buyer pays her company directly.
Step by step
From the first lot to the papers
Six steps. Each says what happens, and who does it.
01Sign on
Sign on and seat your team
Your people work on one desk, each in the role they have in your office.
- Seat your people by role: admin, approver, finance, yard operator, and auditor (read only).
- Every sign-in to the desk takes a second step: a code from an authenticator app.
- You can also keep the desk to your office addresses only.
- Every decision on the desk goes into an audit log, with who made it and from where.
02List
List your vehicles
Each vehicle is photographed and inspected at the yard, and its papers are collected.
- Photos and an inspection at the yard, and inspection days when bidders can come and look.
- Your reserve, the lowest price you accept, is sealed. Bidders never see it, and the record shows it was never changed.
- Choose the kind of sale: a timed auction, buy now at a fixed price, or a sealed tender.
- Set the payment terms for the auction, or keep ours: 25% of the price within 1 working day, the balance within 15 days.
- Ask for an EMD if you want one. Bidders pay it into your own bank account, which we check against your bank's papers and lock first.
03EMD desk
Confirm the EMDs
Every EMD a bidder reports lands on your EMD desk. The money itself goes straight to your bank.
- Your finance team is told the moment a bidder reports the UTR, the amount, the date and the receipt.
- Match it with your bank statement, then confirm it, or reject it with a reason the bidder sees.
- Answer before the cut-off: 24 hours before the start, unless you set another time. A bidder you confirm later can still bid from that moment.
- If an EMD still waits as the start comes near, we remind your team.
- Refunds are yours to make, under your terms. Mark each one refunded on the desk.
04Live
Watch the auction
Watch every bid as it arrives.
- A live view of each lot, its bids and its close.
- A lot must come off after bids came in? Bidding on it pauses while we review your request, and everyone who bid is told.
05Decide
Decide, get paid, hand over
You decide every sale. The buyer pays you directly.
- Accept, reject or counter the best bid, within the approval time you print on the lot.
- Above the limit you set, a second, different approver must agree.
- Your finance team marks the first payment and the full payment received.
- If a payment date passes, you can record a default with its reason. The buyer gets written notice and 7 days to contest it before it counts.
- Release the vehicle with your sale letter and gate pass. The papers for the transfer go with it.
06Fees
What you pay us
Our fees follow your agreement with us. The price and every EMD come to your account in full.
- The console is free for your first 90 days.
- Our desk confirms your terms in its first reply. Your desk's Plans and Billing rooms show every price and every charge, with its invoice.
- We never take anything out of the sale price or an EMD.
What if
The questions sellers ask first
A bidder says they paid, but we cannot find it
Match the UTR, amount, date and receipt against your bank statement. If it is not there, reject it with a reason.
The bidder sees the reason at once and cannot bid until you confirm a corrected transfer. The desk flags a UTR that already sits on another EMD.
The winner does not pay
Your own terms decide what happens to their EMD, which is already in your account.
Record the default with its reason. The buyer gets written notice and 7 days to contest; a person at Truckaurbus reads every contest and answers in writing.
If the default stands, the buyer's ₹5,000 deposit with us is forfeited, and it counts as a strike. When a strike brings a buyer to 2 strikes within 24 months, they cannot bid anywhere on Truckaurbus for 6 months from that strike.
We must take a lot off after bids came in
Ask to withdraw it, with a reason. Bidding on it pauses while we review, and everyone who bid, paid an EMD or booked an inspection is told.
A lot with no bids comes off at once.
We do not like the best price
Reject it, or make one counter offer. The top bidder sees its exact amount and accepts it by naming it, before the deadline.
If you neither accept, reject nor counter within the approval time, the bidder is released and the lot is unsold. Relist it from the yard.
A bidder says their EMD refund has not come
Refunds are yours, because the money is in your account.
A bidder's "refund not received" reaches your finance team with our record of what they paid. Check it, and mark it refunded with your reference.
Who are the bidders?
Every bidder in a real auction has proved who they are with Aadhaar and PAN, one PAN for one account. A firm bids with its own PAN and GSTIN.
Each keeps a deposit in a bidding wallet with us, and bids under a code name. Your own people and our staff never bid.
What Truckaurbus does, and does not do
We do
- Run the auction room, and keep a record of every bid that cannot be changed later.
- Check who each bidder is: Aadhaar and PAN, one PAN for one account.
- Keep each bidder's deposit wallet, and our own fees.
- Check your EMD account against your bank's papers, and lock it.
- Remind your team about EMDs still waiting as an auction's start comes near.
We never
- Hold an EMD.
- Hold the sale price.
- Ask a bidder to pay you anywhere but your own checked account.
You collect the EMD and the price, and make the refunds. A disagreement over an EMD or a payment is between you and the bidder. We give both of you a record of every step that either can check.