Auctionzipauctions (2024)

FAQs

How much does AuctionZip charge sellers? ›

How do you define a "listing"? Is the fee per auction, or per item? The $20 fee is per auction. There is no per-item fee.

Click “Online.” Select “My Auctions” and choose whether it is a Current or a Past sale. Click on the sale title.

Pay one low monthly fee for an unlimited amount of online auctions. We don't charge any setup costs or commissions on unsold items. For any lots sold through AuctionZip, the buyer's premium covers the commission you're invoiced for, so you retain 100% of your auction profits.

Average price auction: the winner is the highest bidder but pays the average of his and the second highest bid.

Unless they state their reserve price in the listing, you won't know what it is until you either meet it or bid above it. If you bid below the reserve price, you'll see a "Reserve not met" message. This means that even if you're the highest bidder at the end of the auction, you won't win the item.

Well-managed and ethical auction companies will list all the conditions and terms related to the auction. They will also welcome and answer any questions before someone places a bid. Be sure to look for this, and if it is not available, ask about it. This will help ensure a quality company is found and used.

Once the auction finishes and is reconciled, the winners will receive a "Winners Notification" and/or an invoice by email which should contain information on all of the lots they've won, as well as all of the information they need in regards to arranging payment, lot removal, and perhaps even shipping.

Note: AuctionZip and Artmyn are wholly owned subsidiaries of Invaluable. Our policies have been developed with the recognition that Internet technologies and underlying business models are rapidly evolving.

Are online auctions honest? ›

Online auction frauds are becoming more and more common as criminals realize they can take advantage of unsuspecting victims looking for a good deal online. These frauds can take many forms but usually involve the seller misrepresenting the item being auctioned or the terms of the auction itself.

Advantages of Choosing the Auction Route

Potential for Higher Sale Prices: Auctions often lead to higher sale prices because they create a competitive atmosphere where bidders aim to outdo each other, driving up the value of your item.

The profitability of online auctions depends on the items being sold, their condition, demand, and effective marketing. High-demand, unique, or collectible items tend to yield better profits. Additionally, setting competitive starting prices and managing fees is crucial.

Some auctioneers charge the seller between 6 percent and 10 percent of the sales price as a commission. Others charge the buyer an auction premium, usually 10 percent.

The answer is that they charge fees - commission - to the seller and to the buyer. All you as the buyer need to do is know what those auction fees are and then take those charges into account when you decide how much to bid. The auction fees to buyers are typically added on to the hammer price.

For items that sell for less than $50 hammer price, the seller will be charged a $5 listing fee. All items that sell for more than $50 hammer price are not subject to any listing fees unless otherwise agreed by the seller and Goldin. How do I increase my bidding limit?

Buyers using the platform may pay via any major credit card or eCheck (ACH) by clicking the Pay Now button on the LiveAuctioneers invoice. Please note LiveAuctioneers charges a processing fee of 3% on all transactions.