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in the fastest-growing metal marketplace in India Industry Impact:Transform an industry that's been operating with outdated systems for decadesKey Responsibilities Strategic Leadership (30% of role)Define auction and tender strategyfor ScrapCart's metal scrap verticals Lead digital transformationof traditional metal trading processes Establish market-making capabilitiesfor spot trading and forward contracts Drive competitive positioningagainst MSTC, mjunction, and other legacy platforms Build institutional relationshipswith PSUs, private steel companies, and metal traders Shape product roadmapfor auction engine features and capabilities Operational Excellence (25% of role)Design and implement auction formats(English, Dutch, sealed bid, reverse auctions) Establish tender management processesfor large-scale industrial disposal Create quality assurance frameworksfor auction materials and specifications Implement settlement and payment systemsfor high-value transactions Ensure regulatory compliancewith e-auction guidelines and tender regulations Optimize auction timing and frequencyfor maximum participation and value realization Business Development (25% of role)Leverage existing relationshipsfrom previous roles to accelerate client acquisition Target major steel producers(Tata Steel, JSW, JSPL, Vedanta, ArcelorMittal Nippon Steel) Build PSU relationshipsfor surplus material disposal and scrap procurement Develop strategic partnershipswith metal traders, brokers, and financial institutions Create corporate scrap programsfor manufacturing and infrastructure companies Establish international trading capabilitiesfor export/import opportunities Team Building & Development (20% of role)Recruit specialist talentfrom metal trading and auction industries Build auction operations teamwith expertise in different metal categories Develop training programsfor auction management and tender processes Create performance management systemswith clear targets and incentives Establish best practicesfor client relationship management and business development Target Candidate Profile Primary Targets (Ideal Candidates)MSTC Senior Managers/General Managerswith 8+ years in metal trading auctions mjunction Business Headswith steel industry relationships and auction expertise SteelzX Leadership Teamwith digital trading platform experience PSU Steel Company Procurement Headswith vendor management and sourcing expertise Metal Junction/SteelMint Senior Leaderswith market-making and trading experience Essential Experience & Networks8+ years in metal scrap tradingwith focus on ferrous and non-ferrous materials Deep auction management experienceacross multiple auction formats and scales Established relationships with steel industry(Tata, JSW, JSPL, SAIL, RINL, Vedanta) PSU procurement expertisewith understanding of government tender processes Large-scale transaction management(deals worth ₹10+ crore annually) Regulatory knowledgeof metal trading, e-auction guidelines, and compliance requirements Industry Knowledge & ExpertiseMetal specifications and gradingfor ferrous scrap, non-ferrous metals, and alloys Market dynamics and pricingfor different metal categories and grades Supply chain logisticsfor metal transportation, storage, and handling Quality control processesfor material inspection and certification Financial instrumentsfor trading, credit, and risk management International tradeexperience with export/import of metal materials Technical & Business SkillsAuction platform expertisewith understanding of bidding algorithms and market mechanisms Business development acumenwith proven track record of client acquisition Strategic thinkingwith ability to identify market opportunities and competitive advantages Team leadershipwith experience building and managing specialized teams Negotiation expertisewith complex, high-value transaction experience Compensation & Incentive Structure Base 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 years Annual Performance Bonus:25-40% of base salary based on auction volume and revenue Performance IncentivesRevenue 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 BenefitsComprehensive 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