Before You Bid
Review lot details, images, and condition notes carefully. If something is unclear, contact support before bidding.
Buying & Selling Information
Kollect Guide: Bids, Payments, Fees & Seller Payouts
This page sets out how the marketplace process works from bidding through completion. It explains buyer obligations, payment handling, private sales, platform fees, shipping reimbursement, and seller payout timing in one place.
Quick Summary for Buyers
- Placing a bid is a legally binding commitment to pay if you win.
- Winners are contacted after auction close to complete payment securely.
- Failure to complete payment may lead to account restrictions.
- Card details are not retained unnecessarily by Kollect100.
Quick Summary for Sellers
- Platform fee: 20% of final sale price.
- Seller receives: 80% of final sale price.
- Shipping is reimbursed when sent signed-for with valid tracking.
- Payouts are released after payment clearance and shipment checks.
1) Live Auction Process
During The Auction
Place bids in line with your maximum budget. Every accepted bid represents agreement to purchase if you become the winner.
After The Auction
Winning bidders are contacted with payment instructions. Once funds clear, dispatch and completion are coordinated through Kollect100.
2) Bids & Payments Policy
By placing a bid, you confirm that you are authorised to make that purchase and can complete payment in full if you win. Winning bids are enforceable purchase commitments. Non-payment disrupts marketplace fairness and may result in blacklisting from Kollect100 and partner channels.
Payment is arranged directly with a Kollect100 sales manager once an auction ends. This process allows secure completion without storing customer card details for longer than operationally necessary.
If payment is not completed within the stated window, Kollect100 may cancel the transaction, offer the lot to the next eligible bidder, and apply account restrictions.
3) Private Sales
Private sale items are purchased directly through the private sales page at fixed prices. Payment and fulfilment are still administered through the same core compliance and verification standards used for auction transactions.
4) Platform Fees & Seller Returns
Platform Fee
20%
Payable to Kollect100 from the final completed sale price.
Seller Share
80%
Paid to the seller after completion and payout checks.
Example
If a lot sells for £1,000, platform fee is £200 and seller proceeds are £800 (before any separate agreed adjustments).
5) Shipping & Reimbursement Rules
- Shipping cost is covered and reimbursed by Kollect100 to the seller where policy criteria are met.
- Shipments must be sent signed-for and include a valid tracking number.
- Tracking and dispatch proof may be requested before reimbursement is released.
- Failure to use compliant shipping methods may affect reimbursement eligibility.
6) Seller Payout Timeline
The timeline below is the standard operational guide for completed auction/private sale payouts.
| Stage | Typical Timing | What Happens |
|---|---|---|
| Sale Closes | Day 0 | Winning buyer is confirmed and contacted for payment. |
| Payment Collection | Day 0–2 | Payment is collected and verified by Kollect100. |
| Dispatch & Tracking | Day 1–4 | Seller dispatches signed-for shipment and submits tracking. |
| Compliance Review | Day 3–6 | Kollect100 verifies payment clearance and shipping evidence. |
| Seller Payout Issued | Typically Day 5–10 | Seller net proceeds are released under the 80/20 fee model. |
Payout timing can vary due to banking cut-off times, compliance checks, weekends, holidays, buyer payment delays, or unresolved delivery exceptions.