Page 29 - One report AUCT2024_Eng

Part 1
Business Operation and Operating Results
1. Wearing an auction wristband raising at the Auction Site
This is a basic auction. The auction participants will wear wristbands and raise hands to bid within the area of price competition line to public to compete for the prices when the auctioneer calls out an incremental amount each time. The bidder who places the highest bid wins the auction.
2. AUCT Live Services
The Company developed an auction program in real time at a real auction site through the Company’s website www.auct.co.th. This was the first online auction in Thailand. All bidders could see and hear the auction at the auction site live and were able to show interest by bidding when the auctioneer called out the incremental amounts each time via the internet.
The interested person can apply to participate in online auction by attaching important document for the Company’s verification, after that the Company will send a member number and password to the applicant. The applicant must place a security deposit according to the conditions to be participated in online auction via website or via mobile application. Presently, the conditions and security money applied with the customers who need to participate via AUCT Live method are the same as the raising hand (bidder card) in auction venue method. Details of the auction process can be found at https://www.auct.co.th/auctions.
Registration
The interested bidders who have duly registered with the Company and paid for bidder card deposit shall be entitled to attend the auction. The deposit is refundable on the next day with no charge. The auction deposit rates for general customers in auctions as follows:
1) 20,000 Baht for bidding car, agricultural vehicles and truck 2) 5,000 Baht for bidding motorcycle
Participating Bidders
Participating bidders or buyers in vehicle auctions are traders; corporates and individuals who want to improve vehicles’ condition for reselling to the public. There also are people in general who want to buy for personal use. Most bidders of the Company are used car traders and middlemen who resell to general user.
Customer Relationship Campaign
In order to maintain the relations with current bidders and encourage them to participate in the Company’s auctions regularly, the Company has policy and criteria to provide more privileges to the bidders who are active for a period of long-time. The Company considered by the amount of the asset and auction accumulated including payment histories that there is no default of payment for the auctioned. The privileges that customers will receive as follows:
บริษัท สหการประมูล จากัด (มหาชน)
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Union Auction Public Company Limited