While volunteers most often organize fundraisers and charity events, there are still costs involved: venues, advertising, setup, caterers, musicians, decorations, and much more. Another expense is credit card fees. Unfortunately, there is no such thing as free credit card processing, no matter what service, bank, or processor you use. Charging a buyer's premium to offset your expenses is a common practice.
Buyer premiums are becoming commonplace at auctions and will continue to grow. More than 80% of auction houses charge a buyer's premium.
So what exactly is a buyer’s premium? A buyer’s premium is an added charge that a donor pays based on the final bid price or contribution. This becomes the actual price that the buyer is charged for the item when checking out. It is not uncommon for fundraisers to charge between 1-15%. Don't be afraid to pass your expenses to your supporters.
We make checkout for your bidders easy. Whether you use the integrated Stripe or PayPal (credit card processing) checkout or take payments outside the system, we have you covered. After the end of the auction, your bidders receive text and email notifications that they have won their item(s). Depending on your setup, they can either proceed to pay with all major credit cards, or you can choose to take payments via cash or check outside of the system. Simply pull up an invoice and mark it paid.
Our system handles refunds and partial payments, and you can add extra donations during checkout.
Our fees are simple: Let's assume you have a fundraising event, and you want to do a traditional silent and live auction. You may organize your event, preview items on your BiddingOwl website, print bid sheets, sell tickets, and collect donations. You can manage your checkout process and collect payments (Stripe or PayPal processing fees may apply). This is a free service, and we do not charge you.
The only time we charge you 5% performance fee is when you actually run an online/mobile auction (fees for pre-bid auctions are based on the pre-bid amount and not the final bid). Let's assume you have an online item that sells for $100. We will charge you $5 based on the winning bid.
We simply only charge you for items that are "bid" on online. Think about it - BiddingOwl is cheaper than eBay. They charge a final value fee of 9%
Depending on your setup, your supporters can either pay with all major credit cards (Stripe or PayPal) or pay you directly via cash or check outside the system. Just pull up an invoice and mark it paid.
Easily and securely accept payments online with our Stripe or PayPal Payment integration. It's easy to set up with just a few clicks. Stripe and Paypal are secure, they exceed industry security standards and are trusted by thousands of businesses of all sizes across the globe, including many Fortune 500 companies.
Our system handles refunds and partial payments and encourages extra donations during checkout.
With BiddingOwl, you can raise more money for your cause and focus on what matters - helping others.
With BiddingOwl, there is no need to stress. We make fundraising easy and intuitive. We offer first-class customer service and are here to help you every step of the way. We love what we do, and so should you! See what BiddingOwl can do for you during your Auction Event Planning Process.Try us