When a winning bidder fails or is unable to complete a purchase, the invoice should be marked either as a NO SHOW or as a NO SALE depending on the circumstances.
NO SHOW = bidder failure to honor a valid winning bid. --- When the reason for an unpaid invoice is the fault of the bidder, the invoice should be processed as a NO SHOW. Bidders may lose their bidding privileges for NO SHOW invoices.
Common NO SHOW reasons, the bidder:
No Sale = Purchase cannot be completed due to an issue with the asset. --- The asset, as described, is unavailable to the winning bidder at the removal. No Sale invoices should be infrequent. No Sale invoices typically indicate the affiliate has an issue they need to address to prevent future No Sale invoices (the exception being assets damaged after the invoices were generated).
When processing an invoice as a NO SALE, the affiliate needs to indicate the reason. Below are reasons for processing an invoice as a No Sale (and guidance for avoiding that type of No Sale in the future):
Damaged Assets – the only time an asset will be a No Sale due to damage is if the asset sustained damage after the auction closes. If an asset is discovered to be damaged during the course of the auction, the affiliate needs to contact Bargain-Bids immediately and request to have the item halted.
Misrepresented – the description/picture of a lot doesn’t represent the asset accurately. Either the seller or the affiliate failed to fully disclose material facts about the asset. Affiliates are ultimately responsible for the accuracy of lot descriptions and pictures. Mistakes will happen, but if misrepresentation is a regular occurrence, the affiliate obviously needs to make the full disclosure clause in their consignment agreement much more prominent --- and consider charging the seller a fee for every asset that fails to sell because it was inaccurately described.
Reserve Lowered – The reserve was lowered after the winning bidder placed their bid. If this is a regular occurrence, the reserves are clearly being set above the “absolutely can’t sell for less” amount. Affiliates need to spend time educating their sellers on the risks associated with reserves. Sellers need to understand if their reserve is set too high and it’s lowered after the last bid is placed, the winning bidder is in control of whether the asset sells or not. There is no penalty for bidders who become winning bidders by default.
Missing/Stolen - The asset was either given to the wrong winning bidder or the asset 'disappeared' before the winning bidder picked up and paid for the item.
Other – the only time an affiliate should process an invoice as No Sale - Other is when something unusual occurs such as:
Bargain-Bids definition of inspection is the bidder is able to see and touch the actual lot they will be bidding on.
Monthly server fees are billed on the 1st of each month and are due 30 days after the invoice date. New affiliates will start receiving monthly server fee invoices after their 7th month of activation.
Buyers premium is billed twice each month and is based on the date that the affiliate has processed the bidder invoices. Every bidder invoice processed within the system from the 1st - 15th of each month will be compiled and invoiced from Bargain-Bids on the 20th of that same month. Similarly, each bidder invoice processed from the 16th - end of the month will be compiled and invoiced on the 5th of the following month.
The process date for each invoice can be found on the List Invoices page within the auction.
The following chart may help explain the billing process.
|Affiliates will be Billed||For Invoices Processed||Payment Due|
|5th of Each Month||16th - the end of prior month||25 days from Invoice Date|
|20th of Each Month||1st - 15th of current month||25 days from Invoice Date|
BP invoices are calculated based on the invoices that have been processed by the affiliate within these billing periods. BP Invoices will be sent via email by Bargain-Bids.
Affiliates are required to submit payment for their BP Invoices by the due date indicated on the invoice. If for some reason there will be a delay in submitting the BP payment, the affiliate is responsible for notifying Bargain-Bids at support@Bargain-Bids.com prior to the invoice due date. The email should contain the BP invoice number, the reason an extension is being requested and a reasonable timeline for submitting the payment. Bargain-Bids will contact the affiliate to discuss the issue further. Failure to communicate this information to Bargain-Bids will result in the suspension of the affiliate's publishing privileges after the due date passes. In most cases the suspension will be temporary, as soon as the BP invoice is paid, publishing privileges will resume. Bargain-Bids will determine when the cost/benefit of maintaining the affiliate relationship no longer makes sense.
Affiliates with outstanding invoices, who have not responded to our communications and attempts to contact them, will be terminated.
BP billing reports are accessible on the affiliate dashboard and will show you which invoices have been processed for each billing period. It is important to realize that this information will not be included on the invoice that you receive from Bargain-Bids, rather you should use this report to verify that the numbers are correct. If you notice a discrepancy with your BP Billing Report and the Invoice that you received from Bargain-Bids, please contact us at support@Bargain-Bids.com
To access your BP Billing Report, navigate to the affiliate dashboard and select the Reports/Tools tab.
Select Buyers Premium by Billing Period and use the drop down to select the billing period to view. Again, the periods run from 1st-15th and the 16th-end of the month.
You will notice that this report will show you every invoice that has been processed within that period, the date which it was processed, and the total amount that you can expect on the BP Invoice from 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.
Affiliates will be notified that they have been placed ON HOLD when they login to Bargain-Bids.com and see the following notification:
By clicking on the Review Account Notes link you will see the reason for the ON HOLD status and what needs to be done to remove that status:
Once the issue has been resolved, please email support@Bargain-Bids.com to be reinstated. Our goal is to never put an affiliate ON HOLD. However, we understand sometimes it is necessary and an auction or invoice can slip your mind. Affiliates that find themselves ON HOLD repeatedly will risk an internal review by Bargain-Bids to determine if the relationship is worth continuing. Communication is vital for Bargain-Bids and our affiliates, if you are having issues with timelines or expectations please reach out so we can discuss in person.
There are 3 main reasons for an affiliate being placed in an ON HOLD Status:
Typically an affiliate can get an ON HOLD status removed within 24 hours after the auction invoices have been processed, the invoice to Bargain-Bids has been paid or the bidder/consignor issue is resolved in a satisfactory manner.