Your Ultimate Guide to HiBid Auctions: Setup Fees and Tips for Sellers

HiBid is an online auction platform that connects buyers and sellers online. It has been in the market for a long time and you will come across a range of products available for bidding. There are electronics, antiques, art, cars, furniture, real estate, toys, coins, clothing, and other items available at HiBid. Some people wonder if HiBid is trustworthy for buying items online. It is normal to have such concerns in your mind about online platforms because it’s your hard earned money that you are going to spend. Today, we are going to help you out by giving an all-inclusive review of HiBid, the buying & selling process at their platform, security features, and more.

What is HiBid All About?

HiBid is a tool for online auctions which is available for sellers to reach more buyers. The platform supports many types of auctions in the form of live, timed, or both. It started as a way to bring auctions online and grew in popularity with time. Now, many people use it for their buying and selling needs.

Many users have shared positive experiences with HiBid. The platform takes steps to provide 100% safety for buyers and sellers. It has clear rules and support to handle any disputes that arise. These proactive measures have built trust in the community. It is important to research and understand how the platform works.

HiBid Auctions at Work: Step by Step Process

HiBid supports both live and online auctions for bidders to participate in real-time at their convenience. We have listed down the types of auctions available at their website.

1. Live Auctions: These auctions happen in person and have online tools for remote bidders.
2. Online-Only Auctions: These auctions are purely online where all bidding takes place remotely.
3. Webcast Auctions: These allow online bidders to participate in live auctions remotely.
4. Absentee Auctions: Bidders can submit their maximum bids in advance, and the system will bid on their behalf up to that amount.

Who Can Sell on HiBid?

HiBid is a platform for different types of sellers like businesses, estate liquidators, and individual sellers. There are some eligibility requirements for sellers. While nearly anyone can sell on HiBid, they need to meet the platform’s standards. You have to adhere to the regulations and provide accurate descriptions and images of the items for sale. Sellers also have to comply with the auction’s terms and conditions for the auction type. You can find all the Hibid seller user terms here for better understanding.

How to Become a HiBid Auctioneer

You have to visit the platform’s auctioneer registration form. Provide your business details and proof of auctioneer licensing, depending on your location. The platform also needs auctioneers to meet certain standards in terms of experience and ethical conduct. Auctioneers can list items, schedule auctions, and manage their sales through HiBid.

Step by Step Guide of How to Sell on HiBid

Selling items on HiBid is a very simple process and you just need to follow the below steps. 

1. Create an Account

You first need to have an account for selling on HiBid. Click the “Sell” button on the top of the homepage. It will open a registration form where you have to provide your information like First name, Last Name, Phone Number, Email, Zip Code, and your Message. Then click on the “OK” button to submit the form. You will get connected with one of their representatives who will assist you in setting up your account.

2. List Your Items

You can start listing your items once you have an account ready with HiBid after getting connected with an auctioneer. All you have to do is provide complete descriptions, upload high-quality images of the items you want to sell, and set the price for starting bids. Please note that all items with accurate and complete descriptions will attract more bidders. Make sure to write down any unique features in your items.

3. Choose Your Auction Format

Now it’s time to proceed with the type of auction you want. HiBid offers different auction formats like online-only auctions, live auctions, or a combination of both. Choose the one that suits your items and the target audience.

4. Set Your Terms

Clearly mention your payment and shipping terms before the auction begins. This will help avoid any misunderstandings in the entire process.

5. Promote Your Auction

You are allowed to promote your auction on social media and other platforms to reach a larger audience. The more visibility your items get, the better your chances of getting higher bids.

Platform Fees for Selling on HiBid

HiBid auctioneers charge a commission on the sale price between 5% to 20%. We have listed the breakdown of all fees associated with seller accounts on HiBid. YOu can use this information to know about the potential earnings you will get after the deduction of HiBid fees.

Auction Type	Auction SetUp Fees	Bidding Fees	Maximum Price
Webcast Live Bidding	$25	$0.25 per unique bid	$125 per auction
Internet Absentee Bidding	Nil	$0.25 per unique bid	$25 per auction
Internet-Only Auction	Nil	$0.25 per unique bid	$75 per auction

 

Other Platform Fees at HiBid

1. Auction Fee: 2% of the gross value of items sold in the auction
2. Real Estate Auction Fee: 0.1% of the amount for bidders from public portals
3. Credit Card Registration: $1.00 for each registration

So, choose the right auction setup to get the best out of your sales. 

Note: If you are a seller who often deals with many auctions in a month or the items are of high-value, you can also think of setting up your own auction platform to minimize these costs. There are many reputed custom auction marketplace software that gives you more control and flexibility to conduct auctions. Let’s figure out how you can set it up with minimal cost and save the HiBid auction fees.

Save on Fees with Your Own Auction Platform

While the HiBid platform is there to sell items, you can have your own auction site to avoid the auction fees in the long run. Online auction software will let you set your own rules, fees, and commission structures. This is helpful as you will avoid the standard commissions charged by third-party auction sites. You also get the flexibility to customize the user experience and add any additional features in your own auction website. This will not only maximize your profits but also give a clear understanding of your products to the customers.

Creating your own auction site is no longer a difficult task with our top-rated online auction software in the market. Here are some standout features you can use:

1. Customizable Auction Listings: Create end-to-end listings with options to add images, descriptions, and bidding rules to fit your product needs.
2. No Commission Fees: Avoid high fees charged by other platforms. You set your own rules and keep all your profits to yourself.
3. Real-Time Bidding Updates: Track bids in real-time throughout the auction.
4. User-Friendly Dashboard: Manage your auctions, users, and bids from one place. The dashboard is easy for daily auction operations.
5. Automated Email Notifications: Send instant notifications for bids, winning, and losing alerts to all participants automatically.
6. Multiple Payment Gateways: Integrate various payment options for your buyers to accept payments.

So, if you’re selling any auction items online, time to switch to your own auction website today!

Step by Step Guide for Bidding on HiBid

This section will show you how to bid on your favorite items in an ongoing auction at HiBid.

1. Create an Account: The very first step is to have an account on the HiBid website. This will give you the list of all the ongoing auctions on the platform.
2. Find an Auction: Use the search and filter options to find auctions that you are interested in. You can filter by categories, location, or price to narrow down your search.
3. Place a Bid: Once you find an item you want to buy, enter your maximum bid amount. HiBid will automatically bid on your behalf up to your maximum limit.
4. Bidding Increments: Each auction has specific bidding increments for the minimum amount by which your bid must increase over the current highest bid. You can set up the incremental bids in case you are not going to monitor it for the next few hours or days.
5. Set a Maximum Bid: This allows the system to automatically place bids for you up to that amount. This helps as you don’t need to monitor the auction every single minute.
6. Monitor the Auction: Keep an eye on the auction once it nears its end. If you’re outbid, you can decide to increase your maximum bid or let the item go.

How to Cancel a Bid on HiBid

1. Contact the Auctioneer: HiBid does not allow users to directly cancel their bids. You must contact the auctioneer of the specific auction and explain your reason for canceling the bid.
2. Auctioneer’s Discretion: It is up to the auctioneer whether they will allow the cancellation. They may reject the request if they believe it disrupts the auction process.
3. Potential Consequences: Canceling a bid is not common practice and can lead to restrictions on your account or being banned from future auctions. To avoid these issues, always double-check your bid amount and item details.

Security and User Experience on HiBid

All active buyers and sellers on the Hibid platform must follow the guidelines specified on their portal. Buyers should carefully read the item descriptions and check seller ratings before placing a bid. If you are bidding for a high-value item, it’s better to visit the item in person or ask for more details from the seller to avoid any issues later. Similarly, sellers should provide accurate descriptions and real photos. Be upfront about the estimated shipping costs and item conditions.

HiBid has many security measures in place to make sure that all transactions are 100% safe and secure. They offer credit card authentication (optional) to verify buyers’ information. This gives the confidence to sellers that the bidders have a valid payment method. The platform also monitors transactions and provides dispute resolution to handle issues between buyers and sellers. HiBid always asks the users to contact their support team for assistance in case of any query.

HiBid User Reviews and Testimonials

Hibid has mixed user reviews from being positive to negative. Many buyers and sellers appreciate the range of items and the simple user interface. Some have reported positive experiences with high-value transactions and deals. On the other hand, few have noted concerns with certain sellers not accurately representing items. 

Overall, HiBid has a 4 star rating on TrustPilot with 910 total reviews. This shows that the platform is legit and has given good items to buyers. It also has positive user reviews on its own website.

Here are some of the positive reviews available online at TrustPilot.

 

Ownership and Background of HiBid

HiBid is owned by Sandhills Global which is a company based in the United States. Sandhills Global is a technology firm specializing in information processing and distribution across several industries. They own multiple auction and listing platforms. The corporate structure of Sandhills Global includes a dedicated leadership team for operations and expansion. The focus is on providing online solutions for auctioneers and buyers.

HiBid’s Place in the Online Auction Industry

HiBid stands out in online auctions for its reliable platform. It offers many auction types like online-only, live webcast, and absentee bidding. Compared to other platforms, HiBid is known for supporting both small and large auctioneers. It has been growing steadily with a rising user base and expanding market presence. 

HiBid saw impressive sales in December 2023. The total merchandise sold was valued over $52.8 million. The overall hammer price was more than $102 million. Over 844,000 lots were sold through online bidding. There were 1,830 timed auctions and 118 live auctions held. Bidders placed more than 3.8 million bids in around 4.2 million sessions. Overall, it has been on an impressive growth for the past few years and the momentum is likely to continue.

Conclusion

HiBid is a trusted online auction site where buyers and sellers connect with each other. It offers many products like cars, real estate, antiques, art, clothing, etc. HiBid works with licensed auctioneers and well-known businesses so that all the items are legitimate. The platform is easy to operate with a clear bidding process and real-time updates. Buyers can see descriptions, photos, and terms of every auction. HiBid also has a mobile app to join live auctions from anywhere. You can explore HiBid to find rare items or sell your own at a safe and trusted space.

If you’re  a seller and worried about the high fees charged by Hibid, you can have your own auction website. GetUltimateAuction is a great online auction software with customized features and easy setup to start your own auction site without much hassle.