Refund Best Practices

The word refund in the auction world is usually an unknown, rarely used term. It is usually replaced with terms like “as is, where-is" or “no warranty, expressed or implied." That being said, good business practices need to follow the line with good service, and there are times when it may be appropriate for a refund.

Such times may be:

• Item damaged after listing

• Item destroyed

• Items that are grossly misrepresented

• Item missing

  
  

  Times when it probably isn't appropriate:

• Buyers remorse

• Buyer changes their mind

• Buyers chooses not to pick up the item for a long period of time

Always have a paper trail. It's best to never issue a cash-back; cut a check if needed.

This is your business, but it can affect others. Quality, accurate pictures and descriptions are a must and the key to fewer refunds and fewer chargebacks. If you know there is an issue, tell them! Do NOT let it slide; that goes against your credibility and integrity. The short term “win" will give you a long term “loss."

You may be eligible to receive a refund from Equip-Bid on your refunded Buyer's Premium. Find more information HERE.

To get a step by step tutorial on issuing a Paytrace refund, click HERE.