Frequently Asked Questions
Everything you need to know about buying and selling on TradeAssets Malaysia
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Getting Started
What is TradeAssets Malaysia?
TradeAssets Malaysia is a specialized B2B online auction marketplace designed specifically for the Malaysian construction and industrial sectors. We facilitate the buying and selling of heavy machinery, construction equipment, power tools, commercial vehicles, and industrial assets through a secure, transparent, and efficient auction platform.
Our platform connects verified sellers with qualified buyers across all 16 states of Malaysia, ensuring safe transactions and competitive pricing through our real-time bidding system. All transactions are conducted in Malaysian Ringgit (MYR), and our seller verification process ensures you're dealing with legitimate businesses.
How do I register for an account?
Step 1: Click the "Register" button in the top-right corner of any page.
Step 2: Choose your role - either "Buyer" or "Seller". You can always add the seller role later if you start as a buyer.
Step 3: Fill in your details including name, email address, company name (for business accounts), and create a secure password.
Step 4: Verify your email address by clicking the link sent to your inbox.
Step 5: If registering as a seller, submit your SSM/ROC/ROB registration documents for verification. Our admin team will review and approve within 24-48 hours.
Step 6: Once verified (or immediately for buyers), you can start browsing and bidding on equipment!
Pro Tip: Complete your profile with accurate contact information and business details to increase trust with other users and improve your bidding success rate.
What types of equipment can I find on TradeAssets?
We specialize in industrial and contractor equipment across multiple categories:
🏗️ Heavy Machinery
Excavators, bulldozers, loaders, rollers, compactors, graders, and other earthmoving equipment
⚡ Power Tools
Drills, saws, grinders, jackhammers, generators, welding equipment, and hand tools
⚙️ Construction Equipment
Concrete mixers, compressors, hoists, scaffolding, cranes, and pumps
🚛 Commercial Vehicles
Trucks, lorries, vans, trailers, forklifts, and material handling equipment
🦺 Safety Equipment
PPE, safety systems, warning equipment, and site safety tools
🔧 Other Industrial Assets
Workshop equipment, manufacturing tools, and specialized industrial machinery
Is there a fee to browse or register?
No! Registration and browsing on TradeAssets Malaysia is completely free for both buyers and sellers. Buyers can browse all listings, search by category or location, and place bids without any upfront fees. Sellers only pay a small commission fee (typically 2-5%) when their equipment is successfully sold through our platform. There are also optional premium features available for sellers who want enhanced visibility or advanced tools.
Bidding & Buying
How does the bidding process work?
Our bidding system is designed to be transparent and user-friendly:
- Browse Equipment: Find equipment you're interested in through our search or category pages
- Review Details: Check the asset description, images, location, and current bid status
- Place Your Bid: Enter a bid amount that's higher than the current price plus minimum increment (usually RM 100-1000 depending on item value)
- Get Notified: Receive instant email notifications if you're outbid
- Rebid if Needed: Come back and place higher bids until the auction closes
- Win the Auction: If you have the highest bid when the countdown reaches zero, you win!
- Complete Purchase: The seller will contact you directly to arrange payment and collection
Important: All bids are binding. When you place a bid, you're committing to purchase the item if you win the auction. Please bid responsibly.
What is a reserve price?
A reserve price is the minimum amount a seller is willing to accept for their equipment. It's kept confidential and not displayed publicly. If bidding doesn't reach the reserve price by the auction end time, the seller is not obligated to sell. However, many auctions on TradeAssets are "no reserve," meaning the highest bid wins regardless of amount. You can see if an auction has a reserve price in the listing details.
Can I retract or cancel my bid?
Generally, no. All bids placed on TradeAssets are legally binding commitments to purchase. This policy protects sellers and maintains the integrity of our auction marketplace. However, in exceptional circumstances, you may contact our support team:
- If you accidentally entered the wrong bid amount (e.g., RM 100,000 instead of RM 10,000)
- If the seller significantly changed the item description after you bid
- If you can demonstrate genuine hardship or technical issues
Bid retractions are reviewed case-by-case and are rarely approved. Always double-check your bid amount before confirming!
How do I know if I'm winning an auction?
We make it easy to track your bidding activity:
- Real-Time Status: On each auction page, you'll see if you're the current highest bidder
- Dashboard Overview: Your dashboard shows all active bids with winning/losing status
- Email Notifications: Get instant alerts when you're outbid or when you win
- My Bids Page: View complete history of all your bids and their current status
- Countdown Timers: See exactly how much time is left before each auction closes
What happens when I win an auction?
Congratulations! Here's what happens next:
Can I inspect equipment before bidding?
Absolutely! We strongly encourage physical inspections before placing bids. Many sellers offer viewing appointments - you'll find their contact information and location in the listing. We recommend inspecting the equipment's condition, testing functionality, checking for wear and tear, verifying serial numbers, and asking the seller questions about maintenance history, operational hours, and any known issues. Remember, all sales are final, so thorough inspection is your best protection.
Selling Equipment
How do I become a verified seller?
To maintain trust and safety, all sellers must be verified by our admin team before listing equipment:
Required Documents:
- SSM registration (for Sdn Bhd companies)
- ROC registration (for other business entities)
- ROB registration (for sole proprietors/partnerships)
- Business license or permit (if applicable)
- Identity verification (IC/Passport for business owners)
Verification Process:
- Register with role "Seller"
- Upload required documents in your profile
- Our admin team reviews (typically 24-48 hours)
- Receive verification approval email
- Start listing your equipment immediately!
How do I create a listing?
Once verified, creating a listing is straightforward:
- Click "Create Listing" in your seller dashboard
- Select the appropriate equipment category
- Enter detailed information (make, model, year, condition, specifications)
- Upload high-quality photos (minimum 3, recommended 5-10)
- Set your starting price and optional reserve price
- Choose auction duration (1-30 days available)
- Add location and contact preferences
- Review and submit for admin approval
Pro Tip: Listings with detailed descriptions and multiple clear photos receive 3x more bids on average. Take time to present your equipment professionally!
What fees do sellers pay?
Our fee structure is transparent and competitive:
Standard Commission
Charged only on successful sales. No listing fees, no upfront costs.
Premium Features
Optional upgrades available:
- • Featured listings: RM 50/week
- • Priority placement: RM 100/month
- • Professional photography: RM 200/session
What happens after my equipment sells?
Within 24 hours: Contact the winning bidder using the contact information provided in your seller dashboard
Within 3-7 days: Arrange payment method and verify funds received (bank transfer, cashier's check, etc.)
Coordinate collection: Schedule equipment pickup or delivery if you offer that service
Platform fee: TradeAssets will invoice you for the success commission (2-5%) based on final sale price
Complete transaction: Both parties confirm successful completion, feedback system opens
Can I cancel or edit my listing?
Before any bids: Yes, you can edit details, photos, pricing, or delete your listing entirely.
After bids are placed: You cannot cancel the auction or significantly change terms, as this would be unfair to bidders. Minor edits (typo corrections, additional photos) are allowed. If you have a legitimate reason to cancel (equipment damaged, stolen, etc.), contact our support team immediately for assistance.
Payments & Fees
What payment methods are accepted?
Payment is arranged directly between buyer and seller. Common methods include:
✓ Bank Transfer (Most Common)
Direct bank transfer via Maybank, CIMB, Public Bank, etc. Fast and traceable.
✓ Cashier's Check/Bank Draft
Guaranteed funds, preferred for high-value transactions.
✓ Cash (With Caution)
For local, smaller transactions. Always meet in safe, public locations.
✓ Company Check
Common for B2B transactions between established companies.
Security Reminder: Never send money via Western Union, MoneyGram, or untraceable methods. Always verify seller identity and equipment before payment.
Are there any buyer fees?
No buyer fees! Buyers on TradeAssets Malaysia do not pay any platform fees, commission, or transaction charges. You only pay the winning bid amount directly to the seller. This is one of our key advantages - transparent pricing with no hidden costs for buyers.
When do I pay for my winning bid?
Payment timeline is negotiated directly with the seller, but typical practice is:
Deposit (Optional): Some sellers request 10-20% deposit within 24 hours to secure the sale
Full Payment: Usually required within 3-7 days of auction end
Payment Before Collection: Most sellers require cleared funds before releasing equipment
Always get a receipt and verify that payment has been received before taking possession of equipment. For high-value items, consider using escrow services or meeting at the seller's bank.
Security & Trust
How do I know sellers are legitimate?
We take seller verification seriously with multiple layers of protection:
Admin Verification
Every seller manually reviewed and approved by our team
Document Validation
SSM/ROC/ROB registration verified against official records
Contact Verification
Phone and email verified, physical address confirmed
Reputation System
Feedback and ratings from previous transactions
What if I encounter a problem or scam?
While we work hard to prevent fraud, if you encounter any suspicious activity:
- Do not proceed with payment - Stop all communication if something feels wrong
- Report immediately - Email support@tradeassets.com.my with details
- Contact authorities - For serious fraud, file police report (CCID - Commercial Crime Investigation Department)
- Provide evidence - Screenshots, emails, transaction records help investigation
Red Flags to Watch For:
- • Seller refuses physical inspection or video call
- • Request for payment via untraceable methods
- • Pressure to close deal quickly without proper verification
- • Price significantly below market value
- • Poor quality photos or stock images
- • Seller cannot provide ownership documents
Is my personal information safe?
Yes. We take data protection seriously and comply with Malaysian Personal Data Protection Act (PDPA). Your personal information is encrypted, securely stored, and never shared with third parties without consent. We only display necessary contact information to facilitate legitimate transactions. Read our complete Privacy Policy for full details on how we protect your data.
Technical Support
I'm having trouble placing a bid. What should I do?
Try these troubleshooting steps:
- Ensure you're logged in to your account
- Verify your bid amount is higher than current price + minimum increment
- Check that auction hasn't already ended
- Try refreshing the page (F5)
- Clear browser cache and cookies
- Try a different browser (Chrome, Firefox, Safari)
- Check your internet connection is stable
If problems persist, contact support@tradeassets.com.my with screenshot of error message.
How do I contact customer support?
📧 Email Support
support@tradeassets.com.my
Response within 24 hours
📞 Phone Support
+603 1234 5678
Mon-Fri: 9am-6pm
+6012 345 6789
Quick responses
📍 Office Visit
Level 15, Menara KL
By appointment only
Still Have Questions?
Can't find the answer you're looking for? Our support team is here to help!