How to become an auction partner
Why not let us sell your unsold lots for you? Here’s how…
Why list our unsold lots with LastBid?
LastBid is a straightforward way for auction houses to give unsold lots a second chance, this time to many more clients worldwide, rather than relying on pretty much the same routes to the same audience who failed to buy last time.
How do you find buyers for our unsold lots?
Our dedicated team of specialists invests heavily in promoting the items for sale on LastBid – via social media, optimisation of our website on search engines, general media coverage and, most importantly of all, via targeted communications to our own unique following of online buyers, trade buyers and hunter-collectors, who will be viewing your unsold lots for the first time.
How do I become a LastBid auction house partner?
Simple. Drop our team a line at [email protected] and we’ll answer any questions you might have. Once you’re happy with the details, we’ll ask you to sign our auction house agreement to confirm that you are happy to list your unsold auction lots with LastBid and if your unsold lot is sold via LastBid, we are paid a share in your standard commission. There’s no other cost to you in listing your unsold items with LastBid. Your contract with the seller remains unaffected, and there is no extra cost to the buyer. They pay exactly the same as if they were buying directly from you.
What happens next?
We’ll provide you with administrative access to the LastBid platform so you can upload your unsold lots after a sale, set the timescale for listing the items (typically 30-45 days after the auction), and remove individual items once they’re sold – or no longer for sale. For each item, you can set the minimum bid that will be forwarded to you for consideration; plus you can choose to set a price at which a bid will be automatically accepted. You can also amend the estimate, the reserve, the description, and the accompanying image(s) at any time while the item is listed on LastBid. If you prefer, you can send us the information in a pre-agreed format and we’ll upload the lots for you. Just remember to tell us when a lot is sold, so we can remove it from LastBid. However, once a lot has been listed on LastBid, then it’s offered exclusively via LastBid, although we recognise that some trust and flexibility is necessary and there will always be exceptions to the rules.
How will we know when a buyer places a bid?
When a bid is placed on one of your unsold lots, you will receive an email directly from the LastBid platform. This gives you the option of accepting the bid, rejecting the bid, or making a counter-offer – which we ask you to do within 24 hours. Buyers may also contact you via LastBid with enquiries about a specific item.
Once we accept a bid, how do we receive payment?
Once you accept a bid, LastBid will provide you with the seller’s details so you can send them an invoice for immediate payment, with details of how to pay. Payment will always be directly to the auction house, not to LastBid.
Is there anything else I need to know?
When you decide to list your unsold items on LastBid, we will ask for a copy of your Terms and Conditions. These will be made available next to each of your items on our website, as it is your Terms and Condition that will apply to every transaction with a potential or actual buyer.