- How do auctions work on AuctionsValley?
Any company or individual can organize an auction. You create an account, verify your account as a seller, list your item, and it is ready to be auctioned. You can set the auction duration, starting price, currency, and see the bids in real time.
The highest bid wins. Once you win an auction, you pay the amount you bid. This amount is transferred directly to the seller, and the winner receives the contract and the purchased product, service, or ticket.
If the winning bid amount is not transferred, the second-highest bidder will have the right to pay the agreed amount and acquire the auctioned item.
- What makes AuctionsValley auctions different?
Each bid is recorded immutably, allowing users to request an audit of the auction to verify that it has not been manipulated.
The system does not allow bots, ensuring that every bid comes from a real person.
AuctionsValley allows auctions for physical products, digital items, services, and tickets, making it a highly versatile platform with a wide range of offerings.
- What commission does AuctionsValley charge?
Using the platform is free for both buyers and sellers. AuctionsValley only charges a 10% commission on the sale price if the seller successfully sells an item.
- What types of auctions are available?
Sellers can auction any product, service, or ticket as long as it complies with the terms and conditions.
- How do buyers pay?
Buyers pay by credit or debit card in the currency set for the auction, which can be Euros (EUR), US Dollars (USD), or British Pounds (GBP).
- How do sellers receive their money?
Sellers receive their payments directly from buyers via their Stripe account, which they create when they verify themselves as sellers. Once the money is received in their connected Stripe accounts, sellers can transfer it to their bank accounts.
- What is the relationship between buyers, sellers, and AuctionsValley?
The relationship between buyers and sellers is direct. AuctionsValley is not an intermediary, as the money or items does not pass through us. Each auction has specific terms and conditions that bind buyers and sellers, with AuctionsValley having no responsibility or involvement in the sales contract. In case of disputes, buyers and sellers will have each other’s contact details to resolve issues directly based on the auction’s associated terms and conditions.