When a bidder wins an item(s) and fails to complete the purchase, K-BID classifies the invoice as a "No-Show" transaction. The dreaded “No-Show” invoice has been a challenge for K-BID and our affiliates since we moved our auctions to the internet in the early 2000’s.
In our business, "No-Show" invoices can be one of the most difficult and frustrating aspects of the job. We see it as an equivalent to ordering a pizza to the wrong address or not showing up for a medical appointment– both have an impact to the company's bottom line and waste valuable time and resources.
"No-Show" invoices may feel like a minor inconvenience from the outside. “After all, they still have the item and can just sell it to someone else, right?” In reality, “No-Show” invoices have a much bigger impact on everyone involved in the auction:
- Affiliates - Many hours go into the online auction process. Recruiting and working with sellers, cataloging assets and taking pictures, scheduling inspections and removing the items; these aspects are just a portion of the auction process. Most auctions have remote locations with strict timelines, finding other solutions can be nearly impossible for unpaid items.
- Other Bidders - "No-Show" invoices prevent other bidders from being able to complete the purchase. They may have been one bid away but really wanted the item, we hate to take away that opportunity!
- Auction Sellers - Some sellers are in a tight spot and desperately need the proceeds of the auction or need to get out of the warehouse, garage, house, etc. "No-Show" invoices can delay that process and put sellers in a difficult position.
When a winning bidder “No-Shows”, getting the item sold is rarely a simple matter of awarding it to the next highest bidder. An estimated 20% or less of these transactions are completed as most second place buyers have hesitations as to why the item did not sell the first time. Typically, the affiliate and seller are forced to go back to square one and resell the item on a future auction or other outlets – both causing more time and effort from both parties.
K-BID believes it is important to take a firm stance with "No-Show" invoices by disabling accounts which fail to fulfill their obligations. While we take no pleasure in losing customers, it is truly the only recourse we have to protect our affiliates, their sellers and other buyers from "No-Show" buyers in the online auction process.
We understand that things happen in life that can make it difficult for buyers to complete a purchase. If you find yourself in this situation, we ask that you contact the affiliate as soon as possible to see if other arrangements can be made. If that is not possible, we have instituted a reinstatement policy that allows bidders to retain their bidding privileges. Visit this page for more information on disabled bidder accounts.