Head of Auctions

Reports to: Founder Team Size: 8-12 direct/indirect reports Compensation: ₹35-50 lakhs + aggressive equity + performance bonuses Target Profile: Senior leaders from MSTC, mjunction, SteelzX with 8+ years experience"Lead the transformation of India's metal scrap trading landscape with cutting-edge technology, modern user experience, and unprecedented market reach. Move from legacy systems to next-generation marketplace infrastructure while maintaining the institutional knowledge and relationships you've built."Technology Modernization: Bring your deep auction expertise to a modern, AI-powered platformMarket Expansion: Scale beyond traditional PSU clients to the entire Indian metal ecosystemInnovation Leadership: Shape the future of metal scrap trading with blockchain, smart contracts, and automationEquity Upside: Significant ownership stake in the fastest-growing metal marketplace in IndiaIndustry Impact: Transform an industry that's been operating with outdated systems for decadesKey ResponsibilitiesStrategic Leadership (30% of role)Define auction and tender strategy for ScrapCart's metal scrap verticalsLead digital transformation of traditional metal trading processesEstablish market-making capabilities for spot trading and forward contractsDrive competitive positioning against MSTC, mjunction, and other legacy platformsBuild institutional relationships with PSUs, private steel companies, and metal tradersShape product roadmap for auction engine features and capabilitiesOperational Excellence (25% of role)Design and implement auction formats (English, Dutch, sealed bid, reverse auctions)Establish tender management processes for large-scale industrial disposalCreate quality assurance frameworks for auction materials and specificationsImplement settlement and payment systems for high-value transactionsEnsure regulatory compliance with e-auction guidelines and tender regulationsOptimize auction timing and frequency for maximum participation and value realizationBusiness Development (25% of role)Leverage existing relationships from previous roles to accelerate client acquisitionTarget major steel producers (Tata Steel, JSW, JSPL, Vedanta, ArcelorMittal Nippon Steel)Build PSU relationships for surplus material disposal and scrap procurementDevelop strategic partnerships with metal traders, brokers, and financial institutionsCreate corporate scrap programs for manufacturing and infrastructure companiesEstablish international trading capabilities for export/import opportunitiesTeam Building & Development (20% of role)Recruit specialist talent from metal trading and auction industriesBuild auction operations team with expertise in different metal categoriesDevelop training programs for auction management and tender processesCreate performance management systems with clear targets and incentivesEstablish best practices for client relationship management and business developmentTarget Candidate ProfilePrimary Targets (Ideal Candidates)MSTC Senior Managers/General Managers with 8+ years in metal trading auctionsmjunction Business Heads with steel industry relationships and auction expertiseSteelzX Leadership Team with digital trading platform experiencePSU Steel Company Procurement Heads with vendor management and sourcing expertiseMetal Junction/SteelMint Senior Leaders with market-making and trading experienceEssential Experience & Networks8+ years in metal scrap trading with focus on ferrous and non-ferrous materialsDeep auction management experience across multiple auction formats and scalesEstablished relationships with steel industry (Tata, JSW, JSPL, SAIL, RINL, Vedanta)PSU procurement expertise with understanding of government tender processesLarge-scale transaction management (deals worth ₹10+ crore annually)Regulatory knowledge of metal trading, e-auction guidelines, and compliance requirementsIndustry Knowledge & ExpertiseMetal specifications and grading for ferrous scrap, non-ferrous metals, and alloysMarket dynamics and pricing for different metal categories and gradesSupply chain logistics for metal transportation, storage, and handlingQuality control processes for material inspection and certificationFinancial instruments for trading, credit, and risk managementInternational trade experience with export/import of metal materialsTechnical & Business SkillsAuction platform expertise with understanding of bidding algorithms and market mechanismsBusiness development acumen with proven track record of client acquisitionStrategic thinking with ability to identify market opportunities and competitive advantagesTeam leadership with experience building and managing specialized teamsNegotiation expertise with complex, high-value transaction experienceCompensation & Incentive StructureBase PackageFixed Salary: ₹35-50 lakhs (significant premium over current market rates)Joining Bonus: ₹10-15 lakhs (to offset leaving bonuses and benefits)Equity Participation: 0.5-1.5% vesting over 4 yearsAnnual Performance Bonus: 25-40% of base salary based on auction volume and revenuePerformance IncentivesRevenue Targets: 2-3% commission on gross auction revenue above targetsClient Acquisition: ₹2-5 lakhs bonus per major enterprise client onboardedVolume Bonuses: Tiered bonuses for auction volume milestonesStrategic Wins: Special bonuses for winning major competitive dealsAdditional BenefitsComprehensive Health Insurance: Family coverage with premium medical facilitiesStock Options: Additional grants based on company performance and individual contributionProfessional Development: ₹2 lakhs annually for conferences, training, and industry eventsFlexible Work Arrangements: Hybrid work model with travel allowances for client meetings