Affiliates are independent business people who use Bargain-Bids as the venue for posting their auctions online. Affiliates are responsible for all aspects of their business:
Bargain-Bids future success is contingent upon maintaining a reputation for conducting online auctions in an honest, transparent, user oriented manner. Good reputations are built over time, one transaction at a time. However, damaging a good reputation isn't nearly as difficult or time consuming.
Bargain-Bids and Affiliates need to be vigilant about protecting and monitoring this critical asset, as it directly impacts everyone's bottom line. Affiliates are responsible for developing and following business practices that reflect well on Bargain-Bids reputation. Similarly, affiliates are encouraged to keep Bargain-Bids apprised of any issues they become aware of that could have a detrimental impact.
Bargain-Bids does not get involved in the details of the business operations of our affiliates. However, if an affiliate’s integrity is in question (usually due to repeated problems with buyers, failure to follow the full disclosure requirements, not paying their consignors), Bargain-Bids will very quickly terminate the affiliate relationship.
Affiliates must agree to post their online auctions exclusively on Bargain-Bids. Affiliates cannot post auctions on any other online auction site, with the exception of eBay. It is acceptable for an affiliate to list/advertise their Bargain-Bids auctions or items in other locations (Craigslist, affiliate's own website, print advertising, etc.) with the stipulation that the listing/advertisement directs the interested party to Bargain-Bids for information.
Assets posted on Bargain-Bids cannot be for sale, or be sold, except on Bargain-Bids, for the duration of the auction. This statement must appear in the affiliate's consignment agreement with their seller.
Affiliates are prohibited from bidding on their own auctions. Affiliate consignment contracts must clearly state "Sellers are prohibited from bidding on their own assets." Affiliates are responsible for the actions of their consignors and could incur penalty fees for consignor behavior that negatively impacts Bargain-Bids.
Affiliates are responsible for monitoring their auctions and contacting Bargain-Bids immediately if they see any suspicious bidding activity or obvious bidding errors.
Bargain-Bids prefers that affiliates do not bid on other affiliate auctions, but does not prohibit it. However, if a dispute develops between two affiliates due to the purchase of an asset, Bargain-Bids will not get involved. It is expected that all the rules and policies are being followed and that the two affiliates will resolve all issues between themselves.
Affiliates are required to have a written contract with every consignor to ensure that they operate within Bargain-Bids parameters. Affiliates are responsible for the actions of their consignors and contracts are crucial for affiliate protection and holding sellers accountable. Bargain-Bids has certain stipulations that must be included in the consignment contract or agreement:
Affiliates must give bidders the option to pay online for auction invoices below the credit card maximum set by the affiliate (Bargain-Bids recommends a credit card max of $5,000 unless otherwise specified by your credit card processor). The online payment option will not appear for winning bidder invoices exceeding the designated amount.
Online payment can and should be turned off for assets that are restricted by your merchant service provider (firearms, weapons, ammunition, foreign currency, etc.) Please check with your merchant provider for more information.
Due to the expense in running credit cards for low value invoices, the minimum credit card transaction will be $5.00
Credit card payments are not accepted for more than $5,000 unless otherwise stated in the auction terms. In the event an affiliate chooses to accept a credit card for a transaction over $5,000.00 the affiliate may, at their discretion, charge a fee to cover the added credit card expense.
Bargain-Bids reserves the right to charge a no sale fee for lots posted in an auction that don’t sell because they failed to meet the reserve. Bargain-Bids interest is in selling assets. There is very little patience for sellers who wish to find out what their asset could sell for at auction. Affiliates who abuse the use of reserves, either by accepting unrealistic reserves or posting everything with a reserve, are at risk for being charged a no sale fee.
When scheduling the inspection and removal days/times for an auction, it is important to consider the number of lots on the auction as well as the convenience of the bidder.
Each auction must have at least one inspection day where interested bidders are allowed, at no expense, to inspect the actual lot they may wish to bid on. The bidders need to actually be able to see and touch the items included in the lot. Affiliates need to make the inspection process as simple and hassle-free for the bidders as possible. An exception to this is if the affiliate is selling a brand new factory sealed item and is willing to allow the winning bidder to open the carton during removal and refuse the item if it is not as described.
Bargain-Bids neither endorses nor promotes wholesalers, or any vendors, we use now or have used in the past to Bargain-Bids affiliates. Unfortunately there will be, and have been, people/companies that use Bargain-Bids name when making a sales pitch to affiliates in an effort to increase their credibility. Do not construe "Bargain-Bids is one of my customers", to mean Bargain-Bids endorses my product/service. The risks/rewards associated with any purchase/service needs to be weighed by each affiliate on its own merits.
Please contact us to verify any claims being made about Bargain-Bids.
Placing affiliates ON HOLD is the tool Bargain-Bids uses whenever there are compliance concerns or questions relating to the affiliate's business practices. During the time the affiliate is ON HOLD, no further auctions can be posted. Once the issue is satisfactorily resolved, the affiliate can resume posting auctions.
Examples of conduct that could result in an affiliate being placed ON HOLD:
The relationship between Bargain-Bids and an affiliate is completely at will. Either party may terminate the relationship at any time for any reason. All paperwork/payments for completed auctions are due and payable immediately upon termination.
In order to advertise an auction as ‘Absolute’ or ‘No Reserve’, the following criteria must be met:
Bargain-Bids charges a Buyer's Premium on every item sold and paid for based on the following schedule:
|BID PRICE||BUYER'S PREMIUM||AFFILIATE RETAINS||PER ITEM BP CAP|
Bargain-Bids receives 10% of the buyer’s premium on every item sold with a cap of $1,000/item. BP is automatically generated on each bidder invoice and is collected by the affiliate and submitted to Bargain-Bids.
The term ‘As is, Where Is’ only becomes relevant on items with descriptions/pictures that fully disclose everything material regarding the item. Items with descriptions lacking material information are at risk of being refused by the winning bidder. These "mis-described" items often become No Sales without penalty to the winning bidder.
Affiliates will not be an “expert” on every item they sell and consequently will be reliant on their consignors for the accuracy of the item descriptions. Bargain-Bids strongly suggests that affiliates include in their consignment contracts that consignors will be paid for their sold assets two weeks after the auction closes. This allows time for the buyer to contact the affiliate if the item is not as it was described. In these cases it is the responsibility of the affiliate to work with both the buyer and the seller to come to a satisfactory resolution on the item price/sale.
AS IS WHERE IS, does not apply if the lot description/pictures fail to disclose the actual condition of the asset being sold --- even if the true condition of the asset was unknown to the affiliate.
Below is a list of lot categories, the attributes of each category and the information that must be disclosed if the attribute is true of the lot being sold. Affiliates DO NOT have to include category labels in their lot descriptions.
(if true, see Disclosure Requirements)
- An item that has been "owned" (Includes floor models & returns)
- May show cosmetic wear
- May be missing a few easily replaceable parts (found in any hardware store)
- May need minor repairs to be fully operational (i.e., easily replaceable parts and < 15 min. to repair.)
- Describe wear; Show photo of wear
- Include a detailed list of missing parts
- Describe needed repairs
|- Missing essential components
- Major service/repair required
- Defective in ways that render the asset difficult to use
- Asset Condition Unknown
|- Include 'Parts Lot' in the description
- Include 'Parts Lot' in the description
- Detail defect(s) and how it affects the way the asset functions
- Include 'This lot has not been tested' in the description
|To List an item as New, all of the following must be true!
- Brand new, unused, unopened, undamaged, original wrapping, manufacturer's warranty still applies.
AS IS WHERE IS is nullified when a lot is described as New.
|- Stock photos may be used for New lots.
- Indicate a stock photo has been used in the description.
- A photo of the actual lot being sold must be included in the lot photos.
Selling with reserves is discouraged. Bargain-Bids believes placing reserves on items is counterproductive to achieving the highest prices, as a large percentage of bidders refuse to bid on items with a reserve. That being said, Bargain-Bids does allow affiliates to post items with reserves as long as the reserve amounts are extremely reasonable (50% of value or less) and the number of items with reserves is kept to a minimum.
The reserve amount for each item must be entered prior to the auction being published. Reserves cannot be added after an auction is online.
An asset listed with a reserve that is not met may be relisted with a reserve one time. Items that fail to meet the reserve after the second time can only be posted again without reserve.
Bargain-Bids starting bid price is fixed at $1.00. In certain situations, starting bid prices of $1000.00 may be used, however any starting bid over $1.00 is considered a reserve and has the same detrimental impact to the auction process.
Bargain-Bids strongly discourages placing reserves on auction lots. An item with a stated reserve frequently has the effect of drawing fewer bidders and consequently getting lower prices. Bargain-Bids goal is to sell items at the highest price possible; reserves have proven to be detrimental to achieving this goal.
That being said, it is recognized that occasionally a seller will require that a reserve be placed on one of their assets. This should be the exception and not the rule. Items likely to sell for under $2,000 should never have a reserve placed on them. All reserves must be reasonable (50% of value); meaning the likelihood of the reserve being met by independent bidders is high. If the seller has unreasonable expectations of the price required, affiliates should decline the item and not include it on the auction.
The minimum reserve for lots listed on Bargain-Bids.com is $100.
If an affiliate uses Bargain-Bids as their Dealer of Record and agrees to a titled/registered asset with a reserve for consignment, the affiliate will be charged a No Sale Doc Admin fee for each vehicle that fails to sell because the reserve was not met.
An asset that doesn't sell because the reserve was not met, can be relisted with a reserve one more time. If the asset fails to meet the reserve the second time, the asset cannot be relisted again on an auction unless the seller agrees to sell without reserve and commits to selling the asset to the high bidder, regardless of the high bid amount.
Bargain-Bids full disclosure policy requires affiliates to provide lot descriptions and pictures that accurately reflect the condition of the asset being sold. Consequently, the only time it is appropriate to include a stock photo as a lot photo is when the lot is New (defined below):
A lot can only be described as New if it is unused, unopened, undamaged, and is in its original factory sealed packaging. The original manufacturer’s warranty must still apply.
There is one possible exception to the above stock photo policy. If an auction lot doesn’t meet the criteria to be described as New, and it comes disassembled in a box, a stock photo may be used if the item is either too large or too complicated to assemble for a lot photo. However, if a stock photo is used, it is the affiliate’s responsibility to make it extremely clear to bidders that a stock photo has been used and must specifically state how the actual item differs from the stock description/photos, i.e., list missing pieces, describe and photograph any damage or repairs required. Please see the Condition & Disclosure Policy for an explanation of lot conditions and criteria.
IMPORTANT: Stock photos are protected by copyright laws. Every stock photo appearing on Bargain-Bids.com must be properly licensed and the license agreement must specifically provide legal protection against copyright infringement claims. Affiliates are responsible for ensuring they are licensed to use every stock photo appearing in one of their auctions.
Whenever a stock photo is used for an auction lot, pictures of the actual item being sold must also be included in the lot photos. While a picture of the item being sold won’t be a compelling picture to look at, it does provide bidders with a visual of the condition of the packaging and gives them a good idea what to expect on removal day if they are the winning bidder.
Whenever a stock photo is used for an auction lot, the lot description must specifically include the following information:
AS IS WHERE IS does not apply to lots missing any of the above information.
Bargain-Bids does not have a Florida Auto Dealer's License. All vehicles sold in Florida that are required to have a title or a registration card, must be sold by a licensed auto dealer. Affiliates who have a Florida dealer's license can act as their own Dealer of Record (DOR). Affiliates who do not have a Florida auto dealer's license cannot use Bargain-Bids online auction platform to sell motor vehicles.
Affiliates selling titled/registered assets at auctions outside Florida are required to know and abide by the laws of that State and follow the format required in the document entitled 'Affiliate DOR and Out of State Affiliates'.
To include motor vehicle tires as an auction lot, the manufacture date of the tire must be within the previous 5 years. The manufacture date of the tires must be stated in the lot description.
The reason for this policy is the tire industry says the serviceable life of a tire varies between 5 and 10 years. However, auto repair shops often refuse to put tires on a vehicle if the tire was manufactured more than 5 years ago.
The following information is required to be within the description of each titled or registered asset (by vehicle type)
Vehicles - Cars/Trucks/Motorcycles/Mopeds/Motorized Bicycles
Trailers/Semis & Fish House Trailers
Mini Bikes/Dirt Bikes
Selling firearms requires a Federal Firearms License. While federal and state regulations allow the sale of guns without an FFL in certain circumstances, Bargain-Bids does not recognize these exceptions. Any gun sold on Bargain-Bids must be sold through a licensed firearms dealer (FFL). It is the responsibility of the affiliate to make sure the FFL they are using for their gun sales has an active Federal Firearms License. The FFL dealer must be identified by name and license number in the terms and conditions of the auction that contains the consigned firearms.
Bargain-Bids does not have a FFL and will not act as dealer for an affiliate. In the event a seller insists on a reserve, they will require a NICS on themselves in order to retrieve the firearm. The $25.00 NICS/Transfer fee will not be waived.
Any questions on the firearms policy should be directed to Bargain-Bids.
Affiliates may post Real Estate Auctions on Bargain-Bids. Bargain-Bids role in real estate auctions is nothing more than the website used to post the auction. The only fees Bargain-Bids receives for real estate auctions is a $100 posting fee, which is due prior to the auction appearing on the website. Real Estate Auctions can be listed for a maximum of 4 weeks. The affiliate is responsible for ensuring compliance with all federal/state/local laws pertaining to the sale of real estate — this is a highly regulated industry and will require involvement by licensed real estate professionals.
Affiliates can post Real Estate Auctions on Bargain-Bids.com. Bargain-Bids serves as the venue only for real estate auctions. Bargain-Bids has no further involvement in the transaction.
The process for getting real estate auctions posted is:
If you have any questions regarding this policy, please contact support@Bargain-Bids.com.
Selling coins/currency and precious metals can be profitable for affiliates who take the time to develop a working knowledge of these assets and are willing to take the time to research (the internet is a good resource) the value of these items prior to publishing an auction containing these assets.
Due to rampant fraud, scams and counterfeit products associated with the coins/ currency/precious metals industry, Bargain-Bids holds affiliates to a much higher standard when it comes to selling these items on Bargain-Bids.com. Affiliates are responsible for not only fully disclosing all material information about an asset, they are also responsible for verifying the information included in the item description. Verification requires the affiliate to independently research and guarantee the detail included in the lot description. The seller cannot be the verification source. Proof of authenticity or other claims made about an item in the description must be attached to the item description as a PDF.
Affiliates, who aren't interested in educating themselves on this topic or doing the required research on a consignor's coins/currency/precious metals, should not post these assets. Ignorance is not an acceptable excuse for failing to accurately identify and disclose details on coin/precious metal lots.
The following will provide additional details relating to sales of coin/currency/precious metal sales. This information is not intended to be all-inclusive; it is intended to provide affiliates with ideas, cautions and a basic framework for handling these types of auctions.
The reason for prohibiting certain items from being sold on Bargain-Bids is to eliminate the negative repercussions that occur when bidders don't understand the value of the items they are bidding on. The ignorance level when it comes to precious metal values is high and widespread.
While it is tempting for affiliates to allow bidding to continue when the bids reach ridiculously high amounts for an item (exceeding item value by several multiples), it is a mistake to do so. Whenever affiliates recognize an inconsistency in the bidding on one of their coin/precious metal auctions, a red flag should go up and the affiliate should consider taking action. It is far better for an affiliate to halt an auction item due to a clear disconnect between the bid amount and the item value, than it is to suffer the damage to their reputation that will occur when bidders recognize the affiliate allowed the auction to continue knowing the bidder made a gross error in judgment (i.e., item value = $1; winning bid price = $36).
It's important to remember --- sellers come and go, an affiliate's reputation with bidders will decide the affiliate's future success.
A good Calculator to use to figure out the value of coins is: http://www.coinflation.com/coins/silver_coin_calculator.html
Genuine silver jewelry or silverware will be stamped with the number 800 or 925 or a promise that the silver is sterling (ex. Ster, Sterling, Stg). If the silver does not have an identifying mark, below are a couple tests that may assist in determining real silver from fake silver.
Bullion, usually minted by the US Mint. Other countries will also produce Bullion Coins. A few examples are.
Any coin except the Nickel and the penny that were produced before 1964 is considered Junk Silver. They are 90% silver. Kennedy half dollars from 1965-1970 are 50% silver
War Nickels are also silver and were produced from 1942-1945.
Every year the US mint will put out coin proof sets. Some are made of Silver and some are not. It is the responsibility of the affiliate to determine and disclose the silver content if selling these items.
These are coins that have collectible value in excess of its metal content because it is historical or rare. Such as an 1880 CC Morgan silver dollar.
Be cautious when writing the descriptions for these coins. Don't include information about condition or grade for these coins, unless they were graded and encased by a reputable certified grading company.
In order to conduct a storage unit auction like is seen on TV --- people placing bids on the contents of the unit based entirely on what can be seen from the doorway --- the following 3 criteria must be met:
If these 3 criteria can’t be met, the traditional inspection rules will apply to the auction – the bidder must have easy access to see and touch the contents of each lot during the inspection.
**Due to copyright issues, don’t include references to “Storage Wars”, “Storage Hunters”, “Auction Hunters”, etc. in your auction titles or descriptions --- just say something like “as seen on TV”
Affiliates are responsible for verifying the legality of all assets sold on their auctions - federal/state/local laws vary based on the location of the auction. Below are some examples (these are not comprehensive lists):
Restricted (requires a specific license):
In addition to federal/state/local laws, Bargain-Bids has a list of "Do Not Sell" items:
Counterfeits, unauthorized replicas, unauthorized items (such as counterfeit watches, handbags, or other accessories) or unauthorized copies (such as copies of software programs, video games, music albums, movies, television programs, or photographs) cannot be sold on Bargain-Bids.com. These fake items violate the original manufacturer’s trademark and other intellectual property rights. These items are illegal to own or sell.
Affiliates are responsible for ensuring the authenticity of the items they sell. If the authenticity of an item cannot be verified, the item cannot be included in an auction. It is not acceptable for affiliates to pass the verification of authenticity responsibility to bidders by including a statement in the auction description such as, ‘the authenticity of this item has not been verified”.