Announcing an on-line auction means offering a broad, international audience the chance to participate, guaranteeing them anonymity and avoiding any bid-rigging.
As the sole portal that that is also a registered “Access Point” to the Ministry of Justice’s network, Astalegale uses a tracking system to keep tab of the “logs” submitted to Ministry oversight which gives them legal value.
The Spazioaste on-line auction platform developed by Astalegale meets the technical specifications issued by the DGSIA (the Italian General Management for automated IT systems), complies with Ministerial Decree No. 32 of February 26, 2015 and fully meets the requirements of the Ministry for on-line auctions as envisaged in the Italian Civil Procedure Code.
On-line real estate auctions
Access to the platform is guaranteed to Bankruptcy Trustees, Auctioneers, Magistrates and Court Clerks and, in any case, to the auction contact persons. Access is guaranteed 24/7 through specific platform-issued credentials. The auction contact person can also gain access via “enhanced” authentication through CNS(National Charter of Services)-type certificates. The platform is compatible with any operating system and any browser.
Platform features
The Spazioaste platform guarantees:
- authentication via digital signature for the procedure contact persons;
- absolute anonymity for the bidder;
- opening of the on-line bids with bidders logged on in real-time;
- running of an on-line auction if multiple bids are received:
- synchronous mode - participation of all bidders, simultaneously logged on via internet, in real time;
- mixed synchronous mode - applications for participation in the auction can be submitted either electronically or by presenting a conventional paper envelope;
- asynchronous mode - participation of bidders within the amount of time set for the auction, after which the property is awarded to the highest bidder;
- real-time communication between all subjects logged on via chat;
- bid raises synchronised thanks to use of a single timer;
- possibility for accredited, authorised third parties to observe the auction operations;
- automatic drafting of a report on the operations related to the auction;
- tracking, with timestamp, of all operations (log) performed on the platform.
On-line movable property auctions
Astalegale’s online auction platform, Spazioaste, was created as a cutting-edge technological tool for the management of on-line auctions of movable property, in full compliance with the legislation on on-line auctions and the provisions of Art. 107 of the Italian Bankruptcy Law.
Platform features
The Spazioaste platform guarantees:
- secure site registration;
- detailed records of the property;
- absolute anonymity for the bidder;
- payment of bid bonds by bank transfer or credit card;
- return of bid bonds if bid is unsuccessful;
- running of an on-line auction if multiple bids are received:
- simultaneous auction mode - makes it possible to manage the auction process with participants present in the room and logged on remotely. During the auction, the users on-site can also view the bids received from users logged onto the portal;
- asynchronous mode - the auction is similar to a timed auction in which, at the end of the set time, the highest bidder wins;
- bid collection method - the auction is comparable to receiving the bids in a sealed envelope. In this case, bidding is possible throughout the entire period; once this time has elapsed, highest bid constitutes the starting point for the auction which takes place only in the room;
- bid raises synchronised thanks to use of a single timer;
- automatic drafting of a report on the operations related to the auction and the IVG (Judicial Sales Institute) bulletins;
- tracking, with timestamp, of all operations (log) performed on the platform;
- integrated newsletter service to keep up to date on properties to be auctioned.
Assistance to users interested in auctions
Astalegale supports professionals and individuals approaching on-line property auctions for the first time and is available to provide a dedicated support system.
Support is provided by:
- telephone help-desk and multilingual email;
- On-site desk at the Court.
Tel: 02 800 300 22
garaimmobiliare@astalegale.net garamobiliare@astalegale.net
