Are you looking for a quick, hassle-free way to sell your assets and still maximize the return on your investment? K-BID’s Independent Affiliate Network can help!
K-BID affiliates are a select group of independent auction companies and they are the only entities authorized to publish auctions on the K-BID.com website, which is frequented by tens of thousands of active, interested bidders.
K-BID affiliates conduct hundreds of auctions each month. They have the experience and resources necessary to secure the best price possible for the assets you have to sell. K-BID affiliates:
You’ll find yourself in good company when you choose to sell your assets through a K-BID affiliate. In addition to thousands of individual sellers, K-BID affiliates have developed relationships and repeatedly sell the surplus assets of several major and small companies, government units and banks.
Contact information for KIA's interested in taking consignments are listed on link below. As you can see, K-BID has a large network of affiliates interested in selling your assets -- so many in fact, it may feel a little overwhelming! Below are some resources available to assist in your search for an affiliate auctioneer and some more information on the auction process.
Please see this page for more information regarding the K-BID affiliate program:
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A directory and map of active affiliates can be found by using the link above that will provide company history and contact information. Below are some tips that you can use when choosing an affiliate to handle your auction.
Proximity to you. Check the affiliate map on the KIA list page to see the home base for each affiliate.
Off-site auctions. Depending on the volume and/or size of the assets you have to sell, it may make more sense for the affiliate to conduct an auction from your location. Many KIAs offer this option to their sellers. Check the ‘Conducts Off-Site Auctions’ column on the KIA list to identify KIAs who provide this service.
Experience Conducting Online Auctions. The ‘Start Date’ column identifies the date each affiliate became eligible to conduct auctions on the K-BID.com website. Also review the affiliate’s description of services as several KIAs had a presence in the auction industry prior to becoming a KIA.
Auction Activity. The ‘Number of Auctions Conducted in Previous 6 months’ column provides recent auction activity information for each affiliate. To view the actual auctions conducted recently, click on the closed auction link at the top of the affiliate page. Keep in mind that volume does not always equate to the highest sales, but it does give a good indication of experience.
Quality of pictures and descriptions. View the actual auction as it was presented on the website by clicking on the closed auction link at the top of the affiliate page.
Experience selling similar assets. By clicking on the ‘Closed Auction’ link on the top right corner of the website and then clicking on ‘Advanced Search’ right below it, you will be taken to a page that allows you to do a key word or phrase search. The search results will provide you with the details for any asset meeting the search criteria --- affiliate, auction description and pictures, bidding activity and final sale price, etc.
Below are the general operating procedures followed by many affiliates, however, it is important to recognize KIAs 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 K-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.
There are many factors that will make up a successful auction on K-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 K-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 K-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, K-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. K-BID Affiliates have access to comprehensive marketing options and expertise to help sellers find the right target audience for their assets.
Experience: Many K-BID affiliates have years of experience in the auction field. This experience can help maximize return in theonline 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.