Frequently Asked Questions
Answers to the most common questions about Lotify's online auctions. The exact rules are in our Terms and Conditions and Buyer Protection pages.
General
- What is an online auction on Lotify?
- Lotify is an online auction platform in Georgia. A seller lists an item at a starting price, buyers place bids, and the lot goes to whoever holds the highest bid when the auction ends. Every seller is verified, and the money you pay reaches the seller through escrow.
- Is it free to register and bid?
- Yes. Registering and bidding are free, and Lotify charges buyers no platform fee and no commission. You pay the winning bid and, if you choose to have the item shipped, the delivery charge the seller set.
- How do I take part in an auction?
- Register or sign in, choose a lot and place a bid from its page. You do not need a deposit, a bank account or verification to bid.
Bidding
- How does bidding work?
- The first bid must be at least the starting price, and every later bid must beat the current price by at least the bid increment, which is currently 5 GEL for every lot. Lotify has no automatic bidding: you place each bid yourself. A bid is binding and cannot be withdrawn.
- What happens if someone bids in the last minutes?
- If a bid is placed with less than 2 minutes left, 2 minutes are added to the end time. This happens at most 3 times per lot, so everyone gets a chance to answer a last-second bid.
- What is a reserve price?
- A reserve price is a minimum price the seller may set. If bidding does not reach it, the item is not sold automatically, although the seller can still choose to accept the highest bid.
Winning and payment
- What happens if I win?
- When the auction ends, the highest bidder wins and a binding purchase agreement is formed between buyer and seller. After winning you choose how to receive the item, then pay the winning bid together with any delivery charge.
- How long do I have to pay?
- 48 hours from the end of the auction. The exact deadline is shown on the purchase in My Purchases. You pay by card on Bank of Georgia's payment page, in GEL.
- What happens if I don't pay in time?
- Once the deadline passes, payment is no longer accepted and a strike is added to your account. A strike expires after 6 months, and 3 active strikes bring a 30-day bidding restriction. The seller may offer the item to the next highest bidder at that bidder's own price.
Delivery and buyer protection
- How does delivery work?
- The seller ships or hands over the item; Lotify has no courier service of its own. The seller lists the delivery options available: self-pickup is free, the seller sets the charge for shipping it to you and that charge is added to what you pay on Lotify, and for Georgian Post you pay the post office directly when you collect the item.
- When does the seller get my money?
- The amount you pay is held in an escrow account rather than sent straight to the seller. It goes to the seller when you confirm receipt, or automatically when the holding period ends: 7 days after the item is marked delivered, 14 days after payment if you collect in person, 21 days after dispatch, or 30 days after payment if no dispatch is recorded. Reporting a problem before that deadline stops the release.
- What if the item never arrives or is not as described?
- Press Report Problem on the purchase in My Purchases before the funds are released to the seller. The seller has 48 hours to respond. If you cannot agree, Lotify administrators review the case, and either side may appeal the decision within 7 days. If the case is decided in your favour, the money is returned to the card you paid with.
- Can I return an item if I simply don't want it?
- No. Because these are auction purchases, general returns are not accepted. A refund is possible only if the item did not arrive, is significantly not as described, is counterfeit or arrived damaged.
Selling
- What do I need to sell on Lotify?
- You need to pass seller verification (photos of both sides of your ID card, a selfie holding it, and your contact details) and add the bank account your earnings are paid to. A new seller may run 3 active auctions at once, and a single item may not be worth more than 500 GEL. These limits rise with your trust level.
- How much does selling cost?
- A commission is charged only on a successful sale and is deducted when the funds are released from escrow. It is progressive, like tax brackets: each part of the sale amount is charged at its own rate, from 0.5% to 3%. The rates in force are shown to you before you create a listing.
- When can I withdraw my earnings?
- After funds are released from escrow, they are held before they can be withdrawn: 14 days for a new seller, 7 days for an established seller and 3 days for a trusted seller. New and established sellers also have part of each sale kept back for a while as a reserve. Section 10 of the Terms and Conditions has the details.
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