Head of Auctions

Reports to: FounderTeam Size: 8-12 direct/indirect reportsCompensation: ₹35-50 lakhs + aggressive equity + performance bonusesTarget 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in the fastest-growing metal marketplace in India- Industry Impact: Transform an industry that's been operating with outdated systems for decadesKey ResponsibilitiesStrategic Leadership (30% of role)- Define auction and tender strategy for ScrapCart's metal scrap verticals- Lead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 capabilitiesOperational 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 realizationBusiness 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 opportunitiesTeam 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 developmentTarget 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 experienceEssential 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 requirementsIndustry 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 materialsTechnical & 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 experienceCompensation & 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 revenuePerformance 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 dealsAdditional 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