Buyers Guide
Maynard Auctions is a cutting-edge platform revolutionising the way real estate, items, and vehicles are bought and sold in the UAE.
Blending the core strengths of traditional auctions — speed, certainty, transparency, and protection from last-minute surprises with the ease of modern technology, our platform empowers you to participate from anywhere.
Bid confidently and comfortably from your home or office using your desktop, tablet, or mobile device — with no pressure just convenience and control.
01 Registration
Click "Register to Buy or Sell"" to log in or sign up. Use the button to create a free account by entering your name, email, mobile number, and password.
Once done, an activation email will be sent to your inbox. Click the verification button, and you will then see the next steps required to complete your registration for bidding.
The final page will inform you that you are pending authorisation to bid.
Once you've created an account, you can ‘watch’ lots that you're interested in (you'll be kept up to date throughout the auction cycle), access Property Information Packs (PIP), and book viewings.
Once fully registered, you will have to pay a 10% security deposit of the starting bid of each individual lot to be able to bid within the auction. Note that if you are the highest or winning bidder of a lot and want to bid on another lot, you will require a new security deposit.
Please note: The first time you register to bid, you will also be asked to verify your mobile number and upload copies of your photo ID (e.g., Emirates ID, passport, or driving licence). This is required so we can easily keep in touch and confirm your identity in the event of a purchase.
For limited companies, we require one form of photographic identification for all directors with significant control of the company (Emirates ID, passport, or driving licence) and a copy of the trade licence.
For separate names or joint purchases, we require one form of photographic identification for all names on the contract (Emirates ID, passport, or driving licence).
To register an account with Maynard Auctions, each individual must provide one photographic ID with evidence of your address, and it must be up to date. Emirates ID, passport, and driving licence are acceptable.
02 Accept Terms
Ensure you read, understand, and accept the Terms and Conditions.
You will be asked to read and accept our Online Auction Terms and Conditions when creating a Maynard Auctions account.
Additionally, there may be specific terms and conditions relating to the sale of the lot you're registering to bid on. It is your responsibility to read and understand these before bidding.
03 Bidder Security
To bid online, you are required to pay a 10% security deposit of the starting bid for any given lot. This deposit is credited to your Maynard Auctions account. Deposits can be made via cash, bank transfer, bank cheque, cryptocurrency, or credit/debit card (a 2.5% charge will apply). If the deposit is provided by bank cheque, it should be submitted no later than 5 working days from the auction end date and must be immediately cashable and not postdated.
04 AML Check
We reserve the right to conduct an online anti-money laundering check on all persons wishing to bid and, if successful, any directors associated with a company purchase or separate and joint names that form part of the contract or any persons who have made a payment in connection with the purchase.
05 Auctioneer Review
Once you have completed the bidder registration steps, we will review your registration to bid. We may contact you to obtain additional information so that we can electronically verify your identity (and the identity of any other individuals associated with the purchase). You will be notified by email as soon as you have been approved to bid.
06 Due Diligence
Recommended Due Diligence Before Bidding
You are strongly advised to view any property or items you wish to bid on and take professional advice on condition and suitability. Please note that viewings are attended at your own risk, and Maynard Auctions accepts no liability. You should also ensure that you thoroughly read and understand the Property Information Pack (PIP) for real estate auctions and any other associated documentation available online and take proper legal advice accordingly.
Registrations should be set up in time before the auction. If you have registered closer to the auction date or have not yet been approved for any reason, please contact the office at info@maynardauctions.ae or +971 45 76 9152. We will locate your application and approve you to bid, provided we have all the relevant documentation and the security deposit credited to your Maynard Auctions account.
07 Bidding
Stress-Free Bidding From Wherever You Are in the World
Click ‘Current Auction Lots’ on our website and select the lot you are interested in. The bidding panel will be shown on every lot page. When the auction opens, you will be able to place bids in line with the predetermined bid increment levels. After setting your preferred bid amount and clicking the ‘Place Bid’ button, you will be asked to confirm your bid, at which point it will be placed.
Every time you submit a bid, you will be clearly shown whether your bid was successful, if you are the highest bidder, or if you have been outbid by an existing proxy bid. You will also be shown if the reserve has been met or not met.
To bid on a lot, the bidder must pay a 10% security deposit of the lot's starting bid into their Maynard Auctions account. If a bidder wishes to bid on multiple lots simultaneously, they must pay a 10% security deposit for each individual lot.
If the bidder is outbid on a lot, they will be notified that they are no longer the highest bidder.
08 Proxy Bidding
Maximum (Proxy) Bids – Increase (+) to Your Maximum Bid and Click Place Bid
You are not restricted to placing a bid at the minimum bid amount; you can increase your bid and set a maximum (proxy) bid in the system. By setting a maximum bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your maximum bid amount. If you are outbid, you will be notified via email so you can choose to increase your bid.
How Proxy Bids Work With the Reserve Price
Virtually every lot is sold subject to a reserve price (the minimum price the auctioneer is authorised to sell for on the day). When you submit a maximum bid, the actual bid placed by the system will depend on where the reserve price is in relation to your maximum bid:
- The system will place an immediate bid at your maximum bid amount.
- The system will automatically increase your bid to meet the reserve and will only bid again on your behalf if you are subsequently outbid by another bidder (up to your maximum bid amount).
- If another bidder has already placed the same maximum bid or higher, they will be the highest bidder at your max bid level, and the system will notify you via email so you can place another bid.
- If two bidders place a proxy bid for the same amount, the bidder who placed the proxy bid first will be the highest bidder at that amount.
Your maximum bid is kept completely confidential; its presence or amount is not disclosed to the auctioneer, vendor, or any other bidder.
09 Bidding Example
A Step-by-Step Bidding Demonstration
- The current bid on a lot is AED 1,000,000. The reserve price has been set at AED 1,100,000 (not disclosed).
- Peter wants to bid. The minimum bid amount is AED 1,020,000, but Peter decides to place a maximum bid of AED 1,060,000. This is below the reserve price, so the system places a bid for Peter at his maximum bid amount, and he becomes the highest bidder at AED 1,060,000.
- Nour logs on to bid. The minimum bid amount is AED 1,080,000, but Nour places a maximum bid of AED 1,150,000. The system automatically increases Nour's bid to meet the reserve, and she is now the highest bidder at AED 1,100,000. However, Nour still has a proxy bid of AED 1,150,000 in the system, which will automatically bid on her behalf if anyone else places a bid.
- Peter is notified that he has been outbid. If no more bids are placed, Nour would win the lot for AED 1,100,000.
- Peter places a bid of AED 1,110,000, and Nour’s proxy bid immediately outbids him at AED 1,120,000, the lowest bid required to make her the highest bidder.
- Peter then places a maximum bid of AED 1,150,000. The current bid jumps to AED 1,150,000 with Nour as the highest bidder, as she placed a proxy bid at that amount before Peter did.
- Peter then places a bid at AED 1,160,000 and wins the lot as there are no other bids, and it is above reserve.
10 Bidding Window
There is currently no bidding window on any of our lots at Maynard Auctions—just pay your 10% security deposit of the starting bid on a particular lot and let the bidding commence.
If you make a bid, the system will inform you if you are the highest bidder. If you have been outbid, it will inform you of this as well. The bidding history accurately shows how many current bidders are placing bids on each lot.
11 Bidding Extensions
The Importance of the Bidding Extension Window
All auction lots will close as per their advertised 'Auction End Date.' However, if a bid is placed within the final 1 minute (60 seconds) of the auction's scheduled end time, the auction will be extended by an additional 1 minute (60 seconds), known as the bidding extension window.
If a bid is placed in the bidding extension window, the countdown clock will immediately reset to 1 minute (60 seconds) again, and the auction will only finish when an entire 1-minute bidding extension window passes without any further bids being placed. This ensures every bidder has a fair and equal opportunity to place another bid.
Please note: The end time on each lot will be updated during the auction, and it is common for the end time on each lot to be extended while bidders are bidding in the extension window.
12 Fall of the Hammer
Legal Position When You've Won the Auction
We offer property for sale by immediate, unconditional contract. This means that the fall of the electronic hammer constitutes an exchange of contracts between the buyer and seller. Both parties are legally bound to complete the transaction, usually within 10 working days following the close of the auction, but this will be confirmed within the legal documentation.
13 Post Auction
We'll Guide You Through to Completion
If you are the successful purchaser, you will receive an email congratulating you on your winning bid at the online auction. The email will contain all the necessary information we require from you and the next steps to take.
If you do not win a lot, your 10% security deposit is held in your Maynard Auctions account. You can request your security deposit refund. All security deposit refunds can only be credited to the same bank account or card they were deposited from, and the funds can take up to 21 working days to be returned to you.
For items, you must complete your purchase within 3 working days. If you do not collect your item within 3 working days and pay the amounts due by the stated time, Maynard Auctions will charge a fee of AED 150 + VAT for each day or part day of non-payment, up to a maximum of 10 working days. If such period elapses and the amounts owing have not been paid, you will lose the right to purchase the auction lot, and your deposit will not be refunded.
For real estate, the successful bidder will be asked to complete a legally binding MOU within 48 hours of the hammer fall. Failure to do so shall result in a deposit forfeit and potential account ban.
For more information, contact Maynard Auctions on +971 45 76 9152
14 Fees
Real Estate Lots
Each successful buyer agrees to pay all applicable auction fees and charges for every winning lot, which is 2% + VAT (subject to a minimum of AED 10,000) of the hammer price and AED 995 + VAT administration charges. All auction fees shall be deducted from the buyer’s security deposit. The buyer has 24 hours to pay the remaining balance needed to cover 10% of the hammer price and all auction fees applicable to Maynard Auctions or risk forfeiting their deposit.
Once an agreed hammer price is achieved, the buyer has 48 hours to complete and sign an MOU or risk forfeiting their deposit to Maynard Auctions. If the buyer signs an MOU, but the seller does not honour signing the MOU within the 48-hour period, the buyer shall have their full deposit in credit to use on another lot or have the option to withdraw in full. This may take up to 21 working days.
The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the special conditions of sale in the Property Information Pack (PIP). Buyers are deemed to bid in full knowledge of this.
Vehicle Lots
For vehicle lots, the buyer's fee is 5% + VAT of the final hammer price.
Item Lots
For item lots, the buyer's fee is 15% + VAT of the hammer price.
15 Important Notices
Notice to All Bidders
- Any measurements referred to in the particulars are for guidance only and do not form part of any contract.
- All photographs and plans are published for the convenience of purchasers only and do not form part of any contract.
- Each purchaser shall be deemed to have read the legal documents or provided them to their legal representatives for advice on the lot they intend to purchase.
- Lots may be sold or withdrawn at any time prior to auction. Maynard Auctions will not be responsible for any losses or abortive costs incurred in respect of lots withdrawn or sold prior to the auction.
- The successful bidder is under a legally binding contract as soon as Maynard Auctions’ electronic hammer falls on their bid.
- Upon a successful bid, the bidder has up to 10 working days to sign a legal bidding MOU for real estate lots or risk forfeiting their deposit. For item lots, the bidder has up to 3 working days to pay the remaining balance and collect their item. Failure to do so will result in a fee of AED 150 + VAT per day of non-payment, up to a maximum of 10 working days.
- Prospective purchasers are advised that sales are subject to the agreements agreed to when registering for the auction: the “Buyers Guide,” “Terms & Conditions,” “Special Conditions,” and any addendums or alterations
- • For real estate lots, the completion date is usually within 10 working days of the auction date.
- Where a video/virtual tour has been provided, it is intended to assist buyers by giving a general impression of the property layout. It is not a formal record of condition.
- Each lot is sold in its actual condition and state of repair. Buyers shall raise no objection or recourse to Maynard Auctions regarding the structure or condition of a property.
- Maynard Auctions gives no warranty or guarantee as to the structure, condition, or issues of a property.
- Maynard Auctions cannot guarantee that keys will be available on completion for certain properties, notably garages and tenanted properties.