During online bidding on eNAM the highest bid was below what I expected. Can I refuse it, and if I reject what happens to my lot?
2 Answers
On eNAM the farmer is not forced to accept the highest bid. After the bidding session closes, the top bid is shown to you and you can accept or reject it. If you accept, the sale proceeds to weighment, invoice and payment. If you reject, the sale does not go through and you can put the lot up for the next bidding session, sell it through the conventional mandi route, or take it back, subject to your mandi's rules. The trade off is that re bidding means another session and possibly extra time, handling and storage, and quality can drop if produce sits, so weigh a low bid against those costs. Knowing the prevailing rate for your grade before the auction helps you judge whether a bid is genuinely low or fair. Confirm your mandi's specific rules on re listing a rejected lot.
I rejected a low bid once and re listed next session, got a better rate. But the produce sat a day. For perishables I would think twice before rejecting.