ELECTRONIC AUCTIONS
Sign up & Login for candidate bidders
In order to participate as a candidate bidder in electronic auctions, you need to register in the electronic auction system (e-auction) through the website https://www.eauction-cy.com.
Sign up with Cypriot Identification Number
If you are a natural or legal person who is registered in the Population Register of the Cyprus Republic or the Registrar of Companies, respectively, you are identified through the Government Gateway Portal (ARIADNI) - CY Login.
Therefore, you must have already registered in the ARIADNE system. After logging in with the CY Login codes, you will be able to continue your registration.
Sign up with a non-Cypriot Identification Number
If you have a non-Cypriot Identification Number, first you need to select an auction you would like to participate in and then enter your personal details and upload in pdf format the documents that certify the validity of the information you entered. After the Auction Officer receives and checks the documents you have posted, you will be notified via email of your registration approval, in order to complete the process of activating your account.
Participation Request
To submit an application for participation in an auction you will need to login to the System using the username and password you set up during your registration.
In order for your application to be valid, you have to deposit the guarantee amount on time. The Auction Participation Guarantee is clearly stated in the post of each auction.
You cannot pay the participation guarantee amount earlier than seven (7) business days before the day designated for the electronic auction and at the latest by 15:00, two (2) business days before the day designated for the electronic auction. It is provided that, in the event that the participation guarantee is paid by means of a debit or credit card commitment, the commitment can be made no later than 7:00 a.m., on the previous working day of the electronic auction.
Auction Conduct
Provided that all the previous stages have been successfully completed, the auction bidding process will follow. For security reasons, accessing the Bidding Screen requires verification with an additional security code via your mobile phone (as indicated during your registration).
Auction award
Upon completion of the bidding process and in accordance to time limits as applicable, the e-auction Officer shall issue the electronic auction report awarding the property to the Highest Bidder.
If you are not the Highest Bidder, you will receive an email from the System regarding the process of returning the participation guarantee you have paid.
In case you are the Highest Bidder, you will receive an email notification from the System for the next steps you need to take in order to transfer the property to your name.
The guaranteed amount will be forwarded electronically to the Mortgage Lender with whom you will be in contact for the remaining of the procedure concerning payment of the remaining amount, registration fees (€10 per application), title issuing costs (€5 per title) and possible transfer expenses fees (8% of the sale proceeds exceeding the amount of € 350,000 per property owner, currently reduced by 50%) or V.A.T.
The remaining amount is paid to the mortgage lender within a period not exceeding twenty (20) calendar days from the date of the auction.
Useful Information regarding e-auctions
HOW TO: https://www.eauction-cy.com/Home/HowTo
FAQ: https://www.eauction-cy.com/FAQ
Further information
Please note that Gordian Holdings Limited (“Gordian”) is not the owner and/or occupier of the property/ies on sale listed in Notice A. Accordingly, (a) the information set out in Notice A derives from information held by public authorities in the Republic of Cyprus and/or other third parties, including without limitation valuers and/or owners or occupiers of the property/ies; and (b) Gordian is not in a position, despite its best efforts, to verify the truth, accuracy and/or validity of such information.
Further, the information set out in Notice A and in any documentation which may be disclosed to you by Gordian in connection with Notice A, is disclosed to you strictly on non-reliance basis and for information purposes only. Gordian and its affiliates, directors and employees make no express and/or implied representation and/or warranty as to the accuracy, truth, validity and/or completeness of the information set out in Notice A and in any documentation which may be disclosed to you in connection with Notice A; and the information in Notice A and in any relevant documentation should not be construed as constituting professional advice.
Gordian and its affiliates, directors and employees, shall not have any liability to you and/or your affiliates, directors, employees and professional advisors for any errors, omissions and/or discrepancies in the information provided in Notice A and/or in any documentation which may be disclosed to you in connection thereof, and for any reliance which you may place thereon. Gordian strongly recommends that you carry out your own independent investigation and evaluation of such information and documentation and that you obtain independent professional advice for this purpose.