27 February 2024, an online auction was announced in the system "Prozorro.Sale" for the sale of the first lot of the ARMA's seized asset, namely 4th class winter wheat in the amount of 1,201.26 tonnes, which was sold by POLONEX LLC, which had signed an agreement with ARMA the day before.

Participants submit their closed quotation before the online auction starts. Potential buyers do not know whether there are other competitors and do not see each other's bids. The electronic auction system ranks the bids from lowest to highest, and the highest (closed) quotation has the right of last bid in each round.

The auction will take place if at least two participants register for the auction. If only one participant registers for the online auction, this person will be declared as the winner and will be entitled to buy the lot for the offered price, but not lower than the starting price. During the three rounds, which lasts 3 minutes each, participants compete for the lot and raise their bids. When the auction ends, all information about the participants is disclosed.

The deadline for submitting bids for this lot is 6 March 20:00.

As a reminder, ARMA carries out all sales of seized property exclusively through the state electronic trading system "Prozorro.Sale".  Relevant changes were made to Government Resolutions No. 719 and No. 558 last year.