How do the No Risk Auction Consignment Prizes work?
Boost your total raised with No risk items on Consignment supplied by GalaBid.
How to add consignment items to your campaign
Go to Items > Add No Risk Prizes. The prizes available in your region will load after a few moments.
Click more info to view the full prize description including any terms and conditions. The price GalaBid charges for each prize/item is listed above MORE INFO on each prize.
To add a prize(s) to your campaign, on a sale or return basis, check the relevant box(s) and click the IMPORT button in the bottom right corner of the screen.
How your campaign benefits
The campaign receives all proceeds above the price of the item. There is also a donation of at least 10% built into the starting bid.
For example:
If the price of the prize/item is $1,000, the starting bid will be set at $1,100. If the highest bid in the auction is $1,500, the winner pays $1,500 via Stripe, $500 is automatically sent by Stripe to the Stripe account connected to the campaign and $1,000 is sent by Stripe to GalaBid to pay for the prize.
If the item/prize receives only one bid, the winner pays $1,100 via Stripe, $100 is automatically sent by Stripe to the Stripe account connected to the campaign and $1,000 is sent by Stripe to GalaBid to pay for the prize.
Prize Redemption
Once the winner has paid for the prize, they will receive an automated voucher by email.
In Fixed Fee campaigns this notification may be sent by text message depending on the preference selected by the winner.
In Licence Fee campaigns this notification may be sent by text message depending on the registration settings set up by the Campaign manager. (in Setup > Registration)
To resend a voucher see the article on vouchers.
Other FAQ
Note that No Risk prize descriptions or starting bids cannot be edited.
No Risk prizes can be purchased to include in raffles. Contact helpdesk@galabid.com for enquiries.
Watch this video to hear more about the benefits of No Risk Consignment Prizes