Premier AuctionsBhutan
Auction Process Flow
How an auction moves from listing to settlement on DrukBid.
Individual Auction
List · Bid · Pay · Collect · CompleteItem listed
Individual seller uploads an item.
Bidding and award
Bidders participate and highest bidder wins.
Payment window
Winner pays within 12 hours into TTPL escrow.
Parties notified
Buyer and seller receive payment confirmation.
Collection period
Buyer collects and seller delivers within one week.
Confirmation
Both parties confirm delivery and receipt.
Commission deducted
TTPL deducts platform commission.
Seller payout
Remaining funds released to seller.
Institutional Client Auction
Prepare · Bid · Pay · Collect · SettleItems listed
Institution uploads auction items.
Deposit and fee
Bidders pay security deposit and participation fee.
Award and payment
Highest bidder pays TTPL within the institution's timeline.
Collection period
Buyer collects within the defined period.
Confirmation
Delivery and receipt confirmed.
Proceeds transferred
TTPL transfers proceeds after applicable commission.
Bidder refunds
Unsuccessful bidders receive refundable deposits according to policy.
