How it works
Online bidding is a process where goods or services are sold in an online auction. Similar to charity auctions, our auctions happen entirely online which allows for a wider audience and more secure transactions. Best of all, it’s easy for anyone to host or join a bid.
1. Register
All bidders must register through the platform to access the auctions. Registering and browsing items on sportsbid.store is free. Registered users are not obligated to sell or buy and we do not require credit card information until you decide to place a bid.
2. Bidding
A bidder can place a bid on a specific auction at any time during the auction period and will receive a confirmation email after placing the bid. If another bidder places a higher bid and your bid is no longer the winning bid, you will be notified by email. During the auction, bidders are encouraged to monitor the item price, especially in the final minutes before the auction ends. If a higher bid is placed within the last 2 minutes, the auction end time is automatically extended by 2 minutes.
3. First bid
To take part in the auction and place your first bid on the item you want to win, you need to enter your payment card details. Your card details are securely processed through Stripe, our global payment partner. If you win the auction, you will be automatically charged for the item immediately after the auction ends. If you don't win, participating in the auction is free and you can take part in another auction.
4. Duration
The seller sets a duration for the auction. This can range from a few hours to several days, weeks or months. If a higher bid is placed within the last 2 minutes, the auction end time is automatically extended by 2 minutes.
5. Winning the Bid
Once the set time has elapsed, the auction is won by the participant who placed the highest bid. They are notified of this by email, which includes the contact details of the person or company that will ship the item to them. If you win the auction, you will be automatically charged for the item immediately after the auction ends.
6. Payment
Payment for the winning bid is automatically charged to the winner’s payment method. If the payment is not processed, you can pay for your winning bid using the pay button in your personal area.
7. Shipping
Once payment is confirmed, the seller or auction host ships the item to the winner. Shipping costs are covered by the auction owner or by the item winner, this is stated withing the auction text.
8. Fees
There are no fees. The winner only pays the final bid price. In rare cases, VAT or custom duties or taxes may be charged by local authorities at the moment of delivery.
9. Reporting
We provide a detailed overview of auctions in your personal zone. For each specific auction, you can view the bid history. This increases transparency and our accountability to you. This is another way we build trust between buyers and sellers.
For sellers
1. Registration for selling items
Users who want to organize auctions must request and accept a proposal from a SPORTSBID sales representative. This "Cooperation Agreement" is signed by the interested party or an authorized person of the company.
2. Creating new auction
Once you receive an administrator account from SPORTSBID, you can create an unlimited number of new auctions in your account. When creating an auction, as the seller, provide a detailed description of the item, pictures, the item's condition, and any unique characteristics that would make the item more valued to the bidding audience. You can also include information about supporting a junior club or other charitable cause that will benefit from the proceeds of the item's sale.
3. Set the starting bid, auction duration, shipping costs
You determine the starting bid, the minimum bid increment, and the auction's start time and duration yourself when entering the details of a new auction in your admin interface. The bid should be high enough so you retain the value of the product, but low enough to attract more bidders. When creating the auction in the administration interface, you can choose whether or not to include the shipping costs in the initial price.
4. Supporting charity projects
SPORTSBID is committed to supporting charitable organizations. Item owners choose for themselves who will receive the proceeds of the auction, or part of them. This choice is at the discretion of the item owner and is not mandatory. Item owners who list products on SPORTSBID include famous athletes, collectors, gallery owners, and artists. Information about the project you are supporting is entered as part of the new auction details in your admin interface.
5. Fees
The auction organizer pays SPORTSBID a fee for running the auction, according to the individual proposal. Depending on the pricing plan, this could be a flat fee, credits, or an agreed percentage of the final bid price. Once payment from the auction winner is confirmed, SPORTSBID transfers the final total auction price, minus the auction execution fee and banking transfer fees (commonly 2-4%), to the account or card of the auction organizer.
6. Reporting
We provide clear records for every online auction hosted on SPORTSBID. This provides greater accountability and trust while reducing the chance of fraud or collusion.