Do I pay a software fee on GalaBid's No Risk Items on Consignment?
If you are paying a percentage software fee to use GalaBid, and you have included GalaBid's no risk, sale or return items note that the software fee is not calculated on the winning bid amount for these items. Software fees are only applicable to the profit the campaign makes on any No Risk/ Item on Consignment sold.
This excerpt from the Payments Report shows the breakdown of an item on consignment with a cost of $440 which sold for $500. The percentage software fee in this example is 4.9% of the profit on the item.
By contrast, the percentage software fee is applicable to the winning bid amount on any donated item (any item sourced and updated to the campaign by the fundraiser).
If your GalaBid pricing plan is not based on a percentage of each payment, there is no software fee applicable to the profit your campaign makes on each consignment/no risk/sale or return GalaBid item sold.
