IPv4 Bank Auction Process
The registered seller can announce the IPv4 addresses that he is willing to sell through the Auction selling method. Interested buyers can browse any of the Auctions in the Active Seller Listings based on their needs.
Seller & Buyer Prerequisite:
- Seller and Buyer should register in the IPv4 platform
- The seller need to Fill in the selling form, and choose Auction as a selling method
- When the form is approved by the IPv4 bank, a listing will be posted and activated in the IPv4 marketplace.
- Auctions are conducted through competitive public bidding.
- The buyer browses the active seller listings and places a bid on the ones that interest him.
- The Buyer’s bid price should be equal to or greater than the opening price or the current price
- The buyer’s bid should be placed before the deadline ends.
- If a bid is placed in the last 5 minutes before the deadline, the auction will be automatically prolonged by an additional 2 minutes, and this will be repeated until no further bids are placed.
- After each action taken by the Buyer, he will receive a notification informing him about his current status; highest bid, outbid, and winner bid.
- When a buyer win a bid, the transfer process will start:
- IPv4 Bank will send a “winning-bid guide” email to the winning buyer to congratulate him and explain in detail the next steps.
- Buyer should pay the required amount based on the IPv4 bank proforma invoice, the payment should be sent as a wire transfer to escrow.com within 5 working days of receiving the “winning-bid guide” email.
- Escrow will hold the payment till the transfer of IPv4 addresses is completed
- Buyer should send to IPv4 Bank all the required documents that are clearly mentioned in the “winning-bid guide” email within 5 working days of receiving this email.
- The seller will send a transfer request with all the required documents to the RIR where his company is registered.
- An inter-RIR is required if transferring between 2 different RIRs
- When both RIRs related to the seller’s and the buyer’s companies approve and executed the transfer, then the transfer will be considered complete
- Based on the seller and buyer’s confirmation of the transfer, escrow.com will release the payment.