Refund & Cancellation Policy
Last reviewed on 26 October 2026
Version: 1.0 · Effective date:
This Refund & Cancellation Policy explains when money paid on Nexvanta Auctions is refunded, when it is not, and how long refunds take. It forms part of our Terms & Conditions. If the two conflict on a refund matter, this policy applies. A specific auction listing may set different timelines, which will be shown before you bid.
1. Key terms
- EMD (earnest money deposit): a refundable security deposit some auctions require before you can bid.
- Participation fee: a fee some auctions charge to register for that auction. The listing states whether it is refundable.
- Platform fee: a fee charged by Nexvanta for using the platform for a particular auction.
- Buyer’s premium: a percentage or fixed amount the winning bidder pays on top of the winning bid, shown in the listing.
- Working day: any day other than a Sunday or a public holiday in India.
2. Refunds to unsuccessful bidders
If you take part in an auction and do not win, we refund your EMD and any refundable participation fee within 7 to 10 working days after the auction closes.
- Refunds go to the original payment method (the same card, UPI account, net-banking account or wallet you paid from), in line with Reserve Bank of India norms on payment aggregators. We cannot refund to a different account or in cash.
- Once we have released the refund, your bank or card issuer may take a few more working days to show it in your statement. The refund reference we send you can help your bank trace it.
- We do not deduct any charge from EMD refunds to unsuccessful bidders.
3. Non-refundable amounts
| Amount | When it becomes non-refundable |
|---|---|
| Platform fee and participation fee | Once the auction starts (its status changes to Live). Before the start you may withdraw and get a full refund. |
| Buyer’s premium | Always non-refundable once paid by the winning bidder, except when the auction is cancelled (section 4). |
| EMD of a winning bidder who defaults | Forfeited if the winner does not pay the balance or collect the item within the timelines in section 5. Nexvanta may then offer the item to the next-highest bidder or relist it. |
4. Auctions cancelled by Nexvanta or the dealer
If Nexvanta or the dealer cancels an auction, for any reason, every bidder receives a full refund of all amounts paid for that auction: EMD, participation fee, platform fee and, if already paid, the buyer’s premium and any part-payment. The refund follows the timeline and method in section 2. All bids on a cancelled auction are void, as set out in our Terms & Conditions.
If an auction is suspended for a technical failure and later resumes, your EMD stays deposited for the resumed auction. If it does not resume, it is treated as cancelled.
5. Winner payment and pickup timelines
Unless the auction listing states different timelines:
- Balance payment: the winning bidder must pay the balance of the winning bid, the buyer’s premium and applicable taxes within 3 working days after the auction closes. Your EMD is adjusted against the amount due.
- Pickup: the winner must collect the item within 7 working days after full payment, at the location and times agreed with the dealer.
- Late pickup: after 7 working days the dealer may charge reasonable storage fees shown in the listing. If the item is not collected within 30 days of full payment, it is treated as a default.
- Default: if the winner does not pay or collect on time, the EMD is forfeited (section 3), the sale may be cancelled and the account may be suspended. Any balance already paid, less the forfeited EMD and any charges in the listing, is refunded within 7 to 10 working days.
6. Withdrawing before an auction starts
You may withdraw from an auction before it starts. We then refund your EMD and any participation or platform fee in full, within 7 to 10 working days. Bids are binding, so you cannot withdraw once you have placed a bid.
7. Refund status and disputes
- Refund status: ask through the Support Centre, by live chat, or by email to support@nexvanta.in. Please quote the auction ID and your payment reference. Never share your card number, OTP or passwords.
- Disputes: if you disagree with a refund decision or a refund is late, raise a complaint through our Grievance Redressal process (category “Payments and refunds”). The Grievance Officer resolves complaints within 30 days.
- This policy does not limit any right you have under the Consumer Protection Act, 2019 or any other law in force in India.
8. Changes to this policy
We may update this policy. The new version will be published here with a new version number and effective date. Payments made for an auction are governed by the version in force when that auction was published.