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 platform Market Expansion: Scale beyond traditional PSU clients to the entire Indian metal ecosystem Innovation Leadership: Shape the future of metal scrap trading with blockchain, smart contracts, and automation Equity Upside: Significant ownership stake in the fastest-growing metal marketplace in India Industry Impact: Transform an industry that's been operating with outdated systems for decades Key ResponsibilitiesStrategic Leadership (30% of role) Define auction and tender strategy for ScrapCart's metal scrap verticals Lead digital transformation of traditional metal trading processes Establish market-making capabilities for spot trading and forward contracts Drive competitive positioning against MSTC, mjunction, and other legacy platforms Build institutional relationships with PSUs, private steel companies, and metal traders Shape product roadmap for auction engine features and capabilities Operational Excellence (25% of role) Design and implement auction formats (English, Dutch, sealed bid, reverse auctions) Establish tender management processes for large-scale industrial disposal Create quality assurance frameworks for auction materials and specifications Implement settlement and payment systems for high-value transactions Ensure regulatory compliance with e-auction guidelines and tender regulations Optimize auction timing and frequency for maximum participation and value realization Business Development (25% of role) Leverage existing relationships from previous roles to accelerate client acquisition Target major steel producers (Tata Steel, JSW, JSPL, Vedanta, ArcelorMittal Nippon Steel) Build PSU relationships for surplus material disposal and scrap procurement Develop strategic partnerships with metal traders, brokers, and financial institutions Create corporate scrap programs for manufacturing and infrastructure companies Establish international trading capabilities for export/import opportunities Team Building & Development (20% of role) Recruit specialist talent from metal trading and auction industries Build auction operations team with expertise in different metal categories Develop training programs for auction management and tender processes Create performance management systems with clear targets and incentives Establish best practices for client relationship management and business development Target Candidate ProfilePrimary Targets (Ideal Candidates) MSTC Senior Managers/General Managers with 8+ years in metal trading auctions mjunction Business Heads with steel industry relationships and auction expertise SteelzX Leadership Team with digital trading platform experience PSU Steel Company Procurement Heads with vendor management and sourcing expertise Metal Junction/SteelMint Senior Leaders with market-making and trading experience Essential Experience & Networks 8+ years in metal scrap trading with focus on ferrous and non-ferrous materials Deep auction management experience across multiple auction formats and scales Established relationships with steel industry (Tata, JSW, JSPL, SAIL, RINL, Vedanta) PSU procurement expertise with understanding of government tender processes Large-scale transaction management (deals worth ₹10+ crore annually) Regulatory knowledge of metal trading, e-auction guidelines, and compliance requirements Industry Knowledge & Expertise Metal specifications and grading for ferrous scrap, non-ferrous metals, and alloys Market dynamics and pricing for different metal categories and grades Supply chain logistics for metal transportation, storage, and handling Quality control processes for material inspection and certification Financial instruments for trading, credit, and risk management International trade experience with export/import of metal materials Technical & Business Skills Auction platform expertise with understanding of bidding algorithms and market mechanisms Business development acumen with proven track record of client acquisition Strategic thinking with ability to identify market opportunities and competitive advantages Team leadership with experience building and managing specialized teams Negotiation expertise with complex, high-value transaction experience Compensation & Incentive StructureBase Package Fixed 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 years Annual Performance Bonus: 25-40% of base salary based on auction volume and revenue Performance Incentives Revenue Targets: 2-3% commission on gross auction revenue above targets Client Acquisition: ₹2-5 lakhs bonus per major enterprise client onboarded Volume Bonuses: Tiered bonuses for auction volume milestones Strategic Wins: Special bonuses for winning major competitive deals Additional Benefits Comprehensive Health Insurance: Family coverage with premium medical facilities Stock Options: Additional grants based on company performance and individual contribution Professional Development: ₹2 lakhs annually for conferences, training, and industry events Flexible Work Arrangements: Hybrid work model with travel allowances for client meetings