E-Auction Services

At present MSTC sells scrap/obsolete stores/spares/capital equipments worth around Rs.2,000 crore per year. Besides it sells coal from various coal subsidiaries of Coal India Ltd. to the tune of roughly 1 million tonne per year. It also sells diamonds on behalf of NMDC as also confiscated diamonds of Customs dept. Mumbai. The modus operandi followed by MSTC for this purpose is -

  • To put only a select number of items on auction, which can be offered on a regular and sustained basis.
  • Initiate drive to register actual buyers of the item for permanent registration.
  • Advance notice of selling events is sent by e-mail to the registered customers.
  • Auctions are thereafter held on pre-announced date and time.
Some of the unique features of our system are:
  • Permanent registration of coal buyers - thereby ensuring that information about forthcoming sale events is made known. Customers get information only about items of their choice.
  • Before the auction starts, either floor price or reserve price is fed into the system by the stock-holder(Principal).
  • If the highest price exceeds floor price or the reserve price as the case may be, then automatic sale intimation letter is issued by the system without any manual intervention making the system transparent.
  • The auction continues even beyond the stipulated closing hours until no bid is received for a specified period of time(5 to 8 minutes depending upon the item)

If you are a buyer of Scrap/ obsolete/ surplus stores/ spares and capital equipments or coal or diamonds then please register yourself with us as buyer. We are also conducting auction of Manganese Ore and Iron Ore. To facilitate depositing your EMD etc. you can avail our e-banking services. For details of the registration procedure, the customers may please go to our website www.mstcecommerce.com.

If you are a seller of any of these items or if you propose to sell any other items through our portal, then please Click here to contact us.

Last updated on: September 19, 2018

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