How bidding works

From registration to settlement, in four steps.

  1. 1

    Register & verify

    Create an account with your email and complete FICA/POPIA verification once — ID/passport, proof of address, and company documents for dealers. We review and approve you.

  2. 2

    Pay a refundable deposit

    Each auction requires a refundable deposit that unlocks bidding rights. If you don't win, it's refunded. Deposits are held securely via Paystack.

  3. 3

    Bid live

    Bid manually, or set a maximum and let proxy bidding place the smallest increment needed to keep you ahead — your maximum is never revealed. Bids in the final minutes extend the lot (anti-snipe).

  4. 4

    Win & settle

    If you're the highest bid above the reserve, you win. We invoice the hammer price plus buyer's premium plus 15% VAT, apply your deposit, and you settle the balance within 48 hours.

How it works · SMT Auction Group