Page 32 - annual report AUCT 2025_Eng

Business Operation and Operating Results Corporate Governance Financial Statements Attachments
Auction Procedure
The auctioneer announces bids for each item at a time. Bidders must raise their hands (Wristband)
in the gathering to gain witnesses. The bid goes up from the opening price. If there is more than one
bidder, the one who places the highest bid wins the auction. The auctioneer shall call out increments for
each type of property as follows:
Automobile: Opening price at less than 1 million Baht sees a price increment at 2,000 Baht
per call. Opening price at more than 1 million Baht sees a price increment at
10,000 Baht per call.
Motorcycle: Opening price at less than 100 thousand Baht sees a price increment at 500 Baht
or 1,000 Baht per call, depends on the case.
Opening price at more than 100 thousand Baht sees a price increment at 2,000
Baht per call. Opening price at more than 100 million Baht sees a price increment
at 10,000 Baht per call.
The auction will end after the highest bid caller was called 3 times preceding the gavel hitting
sound from the auctioneer. Normally the bidding takes about 45 seconds per 1 item. Every bid will be
recorded as references to be used for verification purposes later on and to assure transparency of bidding.
Besides regular auction at the Head Office by bidders showing up their wristbands or the AUCT
Live which is the real time auction via internet is another alternative of public auction. It increases auction
channels and creates transparent competitive bids. After a successful bid, the Company’s staff will arrange
for the bid winner to make a deposit payment at 10% - 20% of the winning bid price but not less than
5,000 Baht and also to pay the auction fee (if any).
After-bidding Procedures
Payment of Auction Price
Auction price, in general, is paid in two tranches, the first one on the auction date for 10% - 20%
of the property value but not less than 5,000 Baht and the other one within 3 business days except for
the privileged customers as specified. The customers who bid via the AUCT Live will pay for the full auction
price within 3 days after the auction date According to the conditions of placing the collateral of each
customer.
For general customers, the property shall be handed over only when the full payment is made.
The Company will deliver the registration book and ownership transfer documents within 15 - 30 business
days (depending on each property owner). Buyers can check the registration book in the Company’s
website. In the case of no bidding on any property, the property owner can take the property back at no
fees or according to the agreement, depending on the case.
32
Annual Registration Statement / Annual Report 2025
(Form 56-1 One Report)