Affiliate Auction Software Procedures: Typical Auction Timeline

Auction Timeline

Now that you are accustomed to the look and feel of the affiliate login, we will provide you with a quick overview of the auction process along with the specific pages within the Affiliate Knowledge Base that will help you find more detail.

Consignment Agreement Signed	The signed auction contract or consignment agreement is a requirement and should be the first step in the auction process.
Pictures/Descriptions/Videos	Quality pictures and descriptions are one of the most important factors in an online auction.
A New Auction Created in Equip-Bid.com	The first step to auction creation is to create the auction shell. This is also the page where auction details will be entered before an auction is published to a live status.
Lots and Descriptions Created	Lots are created in equip-bid.com.
Images Uploaded	Images are uploaded into equip-bid.com.
Reserves Programmed	Reserve amounts must be programmed in the auction description before the auction goes live.
Lot Fees Entered	Required fees (DMV/DNR registration, rigging fee, etc.) are assigned to each lot prior to publishing to a live status.
Auction Published	Affiliates are responsible to ensure accuracy before an auction is published to a live status.
Auction Inspection Hosted	The opportunity for bidders to inspect the items being offered is required for each auction.
Auction Closes	Auctions will start to close during the specified closing time. Close times for your lots are staggered based on the intervals you chose during your auction setup. Auctions will close individually with at a least a 5 minute interval between each auction.
Invoices Created	Invoices will be available after the close of an auction. Affiliates and bidders may access invoices from their dashboards.
Auction Lots Removed	Assets are removed during the scheduled removal dates.
Invoices Processed	Affiliates will process invoices as Paid Cash, Paid Credit, No-Show, or No-Sale within 10 days of the auction closing.
Auction Amounts Verified	Processed invoices will determine sales tax reports, seller settlements and Equip-Bid Billing. The Close Report is used to reconcile auction proceeds.
Settlement Reports Generated	Settlements are created to pay out consignors.
Equip-Bid Payments Processed	Affiliates are billed twice a month for Buyers Premium.
Sales Tax Reports Processed	Sales tax reports are available in the reports/tools section. These reports are determined by the sales tax rate that has been assigned to the auction and how each invoice has been processed.