Seller Information
If you are ready to post an item 'For Sale', please register or login
POSTING AN ITEM FOR SALE
There is no fee for posting an item for sale. The Seller is required to pay a sales commission on the conclusion of the auction. Details of the Sales Commission can be found on the StockPlus Fee Schedule.
Sales commission is payable by credit card. StockPlus provides a secure payment service for the payment of the sales commission. For the security of all users of the StockPlus auction facilities, StockPlus has a policy of not retaining any credit card details in the system.
If there are no bids for the Lot posted and the Lot is not sold, it will be removed from the StockPlus auction at the deadline time. No sales commission is payable if there is no sale on the StockPlus auction.
Completing posting details
After registering on the website and accepting the StockPlus Terms and Conditions, businesses with surplus stock can post details of the product on the StockPlus website, with or without a reserve price, by completing a 'For Sale' notice. Make sure you market the items you have for sale to their full potential by fully describing their benefits in the Product description box, ref. Marketing Your Stock. The description should include the details of the product for sale, including size, volume, weight and tariff categories (if applicable). Photographs (max. of 4) can be included with the details.
The Seller will define the closing date and time of the offer and bids from interested parties will run until the closing date. Products offered for sale are all on the basis of a price at the Seller's location and are exclusive of freight, insurance, VAT or any other charges. The Seller will indicate in the posting details the payment terms acceptable.
Sellers may also, if they wish, post products on a ‘Purchase Now’ basis, where they can set a price for the sale of the goods, which a buyer can purchase immediately, without entering the auction bidding.
The Seller is responsible for entering full and accurate information on the 'For Sale‘ notice. It is essential that the stated quality and condition of the goods is a true reflection of the reality. The Seller warrants that the description of the goods is full and accurate. Once the ‘for sale’ posting has been placed on the auction, it cannot be withdrawn.
The Seller can stipulate to which designated markets he wishes to sell, or not to sell, as indicated on the StockPlus 'For Sale' notice.
You will have the opportunity to review and amend your posting prior to confirmation and placing it on the auction. It is important that you ensure that the details of your posting are correct and accurate before they are submitted to the auction.
Once the goods have been posted for sale, StockPlus will confirm the details of the posting on-line. These details will remain on Your StockPlus Account.
Reserve/Starting Price and Purchase Now Price
The Seller can stipulate a Reserve/Starting Price. The Reserve and the Starting Price are one and the same; the minimum price at which the Seller is willing to sell and the price level at which the bidding may start. The fee for posting an item for sale is based on the Reserve/ Starting Price chosen for the item and is detailed in the StockPlus Fee Schedule
The Seller should give consideration to setting the Reserve/Starting Price at a realistic level in order to ensure that the surplus inventory is sold. Auction statistics indicate that setting the Reserve/Starting Price at the lower levels of perceived value draws bidders into an auction, encouraging a sale and often at a higher price.
In addition, the Seller may, if he chooses, offer the product for immediate sale at a 'Purchase Now' price. The ‘Purchase Now’ price will be set above the Reserve/Starting Price.
Multiple Postings
The entire quantity of product posted is for sale and a buyer cannot bid for part lots. The Seller may wish to split large consignments into smaller more saleable lots with each lot being posted separately, or place several different items for sale at the same time.
After posting an item for sale, the Seller will be asked whether he wishes to post further items for sale.
Sellers Payment Terms
The Seller should stipulate which of the following payment terms are acceptable:
- Credit Card
- Invoice (define payment terms)
- Pro forma Invoice (payment in advance against pro-forma invoice)
- Letter of Credit
- Cash against Documents.
Posting additional information and making amendments to an auction.
If a bid has been made on an auction lot, the Seller may not make any changes to the details of the auction posting.
If no bids have been made on the auction lot and the Seller decides that the Starting/Reserve price has been set too high to sell the product, the Seller may lower the price at any time during the auction and up to the auction deadline. Similarly, if no bids have been made on the auction lot, the Seller may also extend the auction deadline time. Both of these changes can be made by going to 'Your Current Auctions' in 'Your StockPlus Account'.
Provided a bid has not been made on your auction, you may also amend other details or add to your auction posting by going to 'Your Current Auctions' in 'Your StockPlus Account' and clicking on 'Add Note'. You will be shown your posting details which you can amend and re-submit.
However, if there has been a bid on your auction lot, you cannot make any changes to your posting details.
In circumstances where the Seller realises that there is a manifest error in the posting details after a bid has been made, he must give written notice by fax or email to StockPlus detailing the nature of the error. StockPlus will remove the lot from the auction upon receipt of written notice.
Sales Contract
On completion of an auction, a legal sales contract will then be in place between the Seller and the Buyer. StockPlus will send the Seller an e-mail informing him that the Lot has sucessfully been sold on the StockPlus auction website. On receipt of the sales commission, StockPlus will furnish the Seller with the full details of the Buyer.
Freight and Insurance
Freight and Insurance charges are not part of the bidding process. On the completion of an auction, the Seller is responsible for arranging the freight and transit insurance of the goods. Wherever possible, and for the assistance of the Seller, StockPlus will arrange for quotations for these services to be provided by a freight forwarder and insurance broker within two working days after payment by the Seller of the StockPlus sales commission. Should the Seller choose to use these services, the contact details of the providers will be available on the quotations. The Seller is responsible for paying the freight forwarder's and insurance broker's accounts directly with the respective companies.
It should be noted that the freight and insurance quotations are provided purely as a service to assist the Seller and Buyer to complete the transaction. The decision on freight and insurance and the choice of the service providers is entirely at the discretion of the Seller. StockPlus makes no recommendation or warranty for any services provided by any freight forwarder or insurer chosen by the Seller. StockPlus is in no way liable for the costs of such services, nor any claims that may arise from the Seller or Buyer using any freight forwarder or insurer.
StockPlus strongly recommends that for the protection of both the Buyer and the Seller, shipment of goods is covered by transit insurance. Should the Seller choose not to insure the goods then the Seller is fully liable for any claims that may arise.
Completing a transaction
The Seller will arrange for an invoice to be raised on the Buyer for the full contract amount (auction price at the Seller's location), plus the freight, insurance and any taxes applicable.
It is the Seller's responsibility to apply VAT or any other taxes to the invoice, if applicable, under the regulations prevailing in the country where the goods are located.
The liability to complete the transaction after the closure of the auction rests solely with the Buyer and the Seller. StockPlus has no responsibility or liability for the completion of the transaction.
Please be aware that a sale agreed under the StockPlus Terms and Conditions is a legal contract binding on both the Buyer and the Seller. As with any other contract of sale, failure by either party to complete the buying and selling process of an agreed sale would be a breach of the contract. StockPlus will rescind the registration of any party which does not adhere to the StockPlus Terms and Conditions.
RESPONDING TO A 'WANTED' NOTICE
Businesses may seek to purchase products not currently available on the StockPlus auction. In this instance, businesses can advertise for their specific requirements by placing a ‘Wanted Notice'. These can be viewed on Wanted Notices.
Sellers holding products which match the specified requirements may then offer the goods by responding to the 'Wanted Notice' and then completing the posting details. In this case the Seller must stipulate a 'Purchase Now' price by placing a figure in the 'Purchase Now' box on the posting form. This posting will be placed on the auction in the normal way.
The person placing the 'Wanted Notice', will be alerted to the Seller's response immediately by email. He may then choose to accept the offer at the 'Purchase Now' price indicated, bid for the item on the auction or await further offers.
SELLERS
If at anytime you have questions on how StockPlus operates, or for any reason you cannot proceed as requested, please email your query to StockPlus on support@stockplusauction.com giving your name and contact telephone number.
StockPlus will respond to your questions as quickly as possible.
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