HiBid Pricing

• Internet Absentee Bidding - .25 per unique bid not to exceed $25 per auction
• Internet-Only Auction - .25 per unique bid not to exceed $75 per auction
• Webcast Live Bidding - $25 setup + .25 per unique bid not to exceed $125 per auction. And yes, this price includes audio/video broadcasting and all pre-bidding prior to a lot going live!
• Optional Credit Card Registration Authentication - $1 per authentication with no maximum
• 0.4% of Gross Auction Proceeds sold to Online Bidders. Real Estate auctions will have an alternate percentage of 0.1% for any bidders brought from our public portals. These portals include state portals, vertical portals and our public HiBid site. Effective November 1st, 2018.

0.4% fee on gross auction proceeds. This means we charge 0.4% on the total Winning High Bid on items. The buyer’s premium rates are not included in this. So if an item sells for $5,000 the charge is $20 (5,000 x 0.004.) Regardless of if the auction house has a 10% BP or a 25% BP.

Definitions

Unique Bid - A unique bid is defined as one bidder per lot. John Smith bidder might bid multiple times on lot#1, each time increasing his bid, however, we only count that as one unique bid.

Internet Absentee Example - .25 per unique bid not to exceed $25 per auction - If you only receive 50 unique internet absentee bids, your cost is $12.50. If, on the other hand, you receive 3,000 unique internet absentee bids, your bidding fee hits the $25 limit and never goes higher.

Internet Only Example - .25 per unique bid not to exceed $75 per auction - If you are conducting a real estate auction for a single property and you have 5 bidders, the total bidding fee is $1.25. If, on the other hand, you are doing an auction with 500 lots, and you receive 3,000 unique bids, your bidding fee hits the $75 limit and never goes higher.

The $25 setup for webcast is in addition to the maximum bidding fee of $125. If you are not using the optional credit card authorization service then your maximum total fee for a webcast auction would be $150.

Credit Card Registration Authentication - You can choose to have us authenticate a bidder's credit card prior to allowing them to bid. To authenticate the credit card we actually verify that a $1 charge can be applied to the bidder's credit card. Note, that we don't actually charge the $1, we only verify that we could. This adds an additional layer of security to your auctions because you know that the bidder provided a valid credit card. If you don't care to pay for this extra service, then there are no fees for bidder registration. The only fees for the auction are the bidding fees.

F.A.Q.

• What if my item does not meet a reserve?

If an item has a reserve placed on it, we will only charge the percentage if that item meets or exceeds the reserve.

• What if I have a bad bidder who doesn't pay for their items?

You can request a charge back on items that you do not receive payment for. To request a charge back login to https://my.hibid.com/ with your auctioneer credentials. Click the Lots Stats button located underneath the auction you're dealing with. Scroll to the lot that you are requesting the charge back for. Click the button that says Charge Back on it. You will be required to enter a reason for the charge back. At this point a red icon will appear in the bottom right corner of your screen. This is to keep a tally of all items you are requesting a charge back on. Proceed to make requests on each item, providing reasons for each. Once finished click the Submit button in the bottom right corner. Clicking Submit is what alerts us of the requested charge backs.

• What does a vertical portal mean?

A vertical portal is similar to a state portal. Instead of isolating items based on state location, they are isolated by category. A couple examples of this would be https://coins.hibid.com/, https://guns.hibid.com/, and https://cars.hibid.com/