Non-paying Bidders???
 

Are non-paying bidders a problem for on-line auction houses??? I assume someone who refuses to pay would get banned from participating in future auctions but, what happens to the item(s)??? Do they sometimes get offered to the second highest bidder???

I've wondering the same thing?

On incredibly rare occasions. I know many auction houses and believe that less than .1% have NPB. Maybe 1 every few auctions. When you limit who bids (unlike ebay) and technically you agree it is monetarily punishable this number is very minimal.

Can't speak for others but in around 5 yrs we have probably had 3-4 non paying bidders. We usually just run the items in our next auction but occasionally, depending on the consignor, will offer them to the next highest bidder. I don't think there is a 1 solution fits all.

The auction house I use offers the item to the next highest bidder. That is stated in the contract I signed.

Joe

Thanks. Can you explain what you mean by "monetarily punishable"???

Thanks. I wonder what would happen if only two people were battling it out and the winner decided not to pay. I mean, would the second highest bidder get to pay his original bid amount or would he have to pay the amount just below what the non-payer bid???

They punch you repeatedly with a roll of quarters.:D

LOL...The 'ol bar of soap in the sock trick, eh???...:)...

"It is understood that in the event a winner does not honor his or her bid, then the auction house (auction house name) is to sell the given lot (s) in question to the next legitimate under bidder as is the standard practice for such situations." This is part of the contract that I signed.

Joe

No, it was Monetarily Punishable, ergo the roll of quarters.:):D