Bidder Knowledge Base

SELL ON ZIP-BID

How Do I Know My Assets Will Sell on Zip-Bid.com?

There are many factors that will make up a successful auction on Zip-Bid.com:

Value of the items: Buyers are only interested in the assets that are available. Higher value items will inevitably receive higher bid prices and more competition. Low value items or "garage sale" leftovers typically perform poorly and most affiliates are unable to accept them or liquidate them profitably.

Condition of the items: Assets in clean, working condition perform the best on Zip-Bid.com. Potential buyers make purchasing decisions based off the pictures that are provided. A clean and orderly sale location can make a potential buyer comfortable with the assets they are bidding on.

Number of buyers: Presenting your auction on Zip-Bid.com already gives you a leg up when it comes to potential buyers. With nearly 10,000,000 page views each month and tens of thousands active bidders, Zip-Bid is the premier online auction website in the Upper Midwest. However, certain auctions and situations will deserve extra exposure in order to find the "right" buyers. Zip-Bid Affiliates have access to comprehensive marketing options and expertise to help sellers find the right target audience for their assets.

Experience: Many Zip-Bid affiliates have years of experience in the auction field. This experience can help maximize return in the online auction format. There are many options when it comes to choosing how to liquidate your assets, make sure that you do not discount the importance that an experienced network can provide.

How Does the Auction Process Work?

Below are the general operating procedures followed by many affiliates, however, it is important to recognize Zip-Bid Independent Affiliates are independent businesses whose practices may vary.

Initial Contact with Affiliate – The seller provides the affiliate with information on the asset(s) they have to sell.

Consignment Agreement – After the terms of the sale are negotiated, the affiliate is responsible for drawing up a consignment agreement that details all relevant issues and expectations of the sale -- both parties sign the agreement.

Asset Descriptions & Pictures – This is the most crucial step of any auction. The quality and reliability of an asset’s description and pictures directly impacts the final bid price and ultimately the successful sale of the asset(s). Sellers provide the affiliate with detailed information about their asset(s); the affiliate translates this information into an item description specific to that asset. The affiliate also photographs the asset ensuring the photos accurately depict the asset.

Important Note: Full disclosure is a fundamental requirement for every asset listed on Zip-Bid.com. Item descriptions and pictures are assumed to be complete and accurate. Bidders are not penalized for not honoring bids for assets with item descriptions that failed to disclose information material to the asset’s value.

Auction Published - Once an auction goes “live”, the affiliate is responsible for fielding all questions relating to the auction. The affiliate will hold an inspection for the auction, allowing interested bidders an opportunity to see, touch and ask questions about the assets being sold.

Auction Close - After the auction closes, auction invoices appear on the dashboard of winning bidders.

Removal Day – The affiliate is responsible for managing all aspects of the auction removal --- from ensuring invoice and payment accuracy to dispensing assets to the winning bidder.

Settlements and Sales Taxes – Two weeks after the auction closes, the affiliate provides the seller with a detailed settlement sheet and payment for the assets sold on the auction (final bid prices less any commission and fees detailed in the consignment agreement). The affiliate is responsible for submitting the sales taxes collected for the auction to the appropriate state agency.

Got Stuff to Sell?

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