The Forward Auction is a digital bidding process allowing government departments to sell assets such as scrap, e-waste, old vehicles, machinery, and leasehold properties to the highest bidder. Through GeM’s secure interface, departments set reserve prices, define participation criteria, and monitor live bids in real time, ensuring transparency and efficiency in asset disposal.
Diverse Asset Categories on GeM
GeM Forward Auctions encompass a wide range of assets including:
- E-waste: old IT equipment, laptops, printers
- Industrial and non-industrial machinery
- Scrap items: metal, lube oil, disposables
- Leasehold properties and buildings
- End-of-life vehicles
- Sublet rights for dormitories, parking, and toll booths
This broad approach ensures that the benefits of competitive auctions extend across sectors and geographies.
Impact and Notable Auctions
Several high-profile auctions have showcased the platform’s efficiency. For instance, 100 EWS flats in Aliganj, Lucknow, managed by State Bank of India, fetched ₹34.53 crore. Similarly, the National Zoological Park, New Delhi, successfully auctioned obsolete materials above reserve value, appreciating GeM’s support in value discovery.
Other recent auctions include the sale of screened gypsum by FCI Aravali Gypsum and Minerals India Ltd., disposal of condemned vehicles in Jammu, auctioning salvage items by the Border Roads Organisation, leasing a dormitory in Gulmarg, and auctioning boating rights at a lake in Spurtar.
Streamlined Participation for Bidders
Bidders can register through the GeM Forward Auction portal by submitting PAN and other required documents, completing email verification, and paying an Earnest Money Deposit where applicable. Auctions are time-bound, conducted online, and follow strict security protocols, with most publicly listed except for select pre-qualified assets.
Governance Benefits of Forward Auctions
Beyond individual transactions, the module strengthens governance by improving transparency, reducing administrative delays, ensuring fair competition, generating better returns from public assets, and supporting environmental responsibility, particularly for e-waste disposal.
Forward Auctions are now a nationwide digital mechanism integrating transparency and technology into government asset management, ranging from local scrap dealers to large real-estate entities.