Fees

Buyer Fees

 

What is a Buyer’s Premium?

A Buyer’s Premium is a fee charged on top of the Final Bid Price for all items purchased in all Auctions and Buy Now listings, and is payable to you.bid.  It is automatically charged to the Active Card (Credit/Debit Card) that you have set up in the Payment Methods page of your My Account.
Buyer’s Premiums do not apply to Marketplace sales.

Auction & Buy Now Listings

   Category Final Bid/Buy Now Price Buyer’s Premium
   Cars, Bikes & Commercials Any price 12.50%, minimum $660.00
   Trucks, Buses & Trailers Any price 12.50%, minimum $660.00
   Caravans & Motorhomes Any price 12.50%, minimum $660.00
   Earthmoving & Machinery Any price 12.50%, minimum $660.00
   Boats & Marine Any price 12.50%, minimum $660.00
   General Items Any price 22.5%

Buyer’s Premiums are GST inclusive.

Marketplace (non-auction items)

   Category Price Buyer’s Premium
   All Categories Any price No Buyer’s Premium charged

 

Pre-Bid Card Authorisation

What is Pre-Bid Card Authorisation?

When you place your first bid in each auction, we temporarily authorise a specified amount on your active card (listed in Payment Methods) to verify that the card is active and valid.  This amount varies for each category and is displayed on the product’s listing page under the IMPORTANT NOTES section.  This amount is a standard verification hold, NOT a charge, that confirms your payment method before you can participate in that specific auction.  At the end of the auction, the card hold is released (removed from the card), typically within seven days, but quite often much sooner; exact timing depends on your card issuer.  For longer auctions or if your bank releases the hold early, a new authorisation may be required before you can continue bidding.

Important Details:

  • Per auction – Applied to your first bid in each individual auction you participate in
  • Temporary hold – The amount is held, NOT charged
  • Automatically released – Released when that auction closes
  • Fraud prevention – Helps maintain a secure bidding environment
  • Subsequent bids – Does not apply to additional bids in the same auction

This verification ensures all bidders have valid payment methods for each auction, protecting both buyers and sellers on the platform.

If the attempted Pre-Bid Card Authorisation is unsuccessful, your bid will NOT be placed.  You will need to go to your Payment Methods to ensure it has sufficient funds and the card has not expired.  Alternatively, you can add a different card to place your bid.

Payment Processing Fees

The following Payment Processing Fees apply only to purchases where the buyer chooses to pay the full final bid amount for items sold directly by you.bid, and not by other sellers. These fees do not apply to payments related to the Buyer’s Premium or purchases of Marketplace items.
Please note: These fees are not applicable to transactions conducted directly between the Buyer and the Seller.

   Payment Method Processing Fee
   Credit and Debit Cards (Visa, Mastercard, Amex, eftpos) 1.8%
   Paypal 3.5%
   Direct Bank Transfer No fee
   Cash No fee

Seller Fees

We do not charge fees to Sellers to list and sell items on the you.bid Platform, regardless of whether the item sells or not.

Cancellation Fee

A Cancellation Fee will apply if the Seller:

    • Requests to cancel or withdraw a listing after the Seller Agreement has been signed or,
    • Reneges on the sale after a successful auction or,
    • Fails to complete the transaction with the Buyer, through no fault of the Buyer or you.bid.

This fee is calculated based on the Agreed Reserve Price (if applicable) or the Estimated Market Value (if no Reserve Price is set).  The Cancellation Fee will be clearly specified in the Seller Agreement before the auction goes live.

If you require more information, please contact us.

   Category Reserve Price Set Cancellation Fee
   All categories Yes 12.5% of the Agreed Reserve Price, with a minimum $660.00
  No 12.5% of the Estimated Market Value, with a minimum $660.00

Cancellation Fees are GST inclusive.

If you require more information, please contact us.