Buying Basics: Common Cancellation Reasons & How to Avoid Them

From not understanding the shipping arrangements to not reading the full manifest of inventory in the lot, there are several reasons why buyers may want to back out of a bid or cancel an order. Typically the top reasons stem from oversight of key descriptions within the auction or…not reading essential pieces of information.

In this post, we will highlight:

• some of the most common cancellation reasons
• how to avoid them important
• details every buyer needs to review prior to bidding.

“I thought the auction title said it all”

While our listings team does its best to describe the contents of the auction lot in the title, it’s difficult to squeeze an entire pallet description (or more) worth of inventory into a couple of lines of text. More often than not, there is more (inventory) than meets the eye. This is where the full manifest comes in. By scrolling down, you will see the manifest with product details of the lot. In fact, there is usually a button to click and download the full manifest. We strongly recommend downloading and looking this over prior to bidding!

“I assumed the inventory I was getting was brand new”

Understanding the retailer’s inventory conditions is key to being a successful buyer on B-Stock. From never used to salvage condition, buyers can find the full spectrum of conditions up for auction to fit their budget and buying needs. And because each retailer has its own standard of conditions, it’s not a one-size-fits-all across our marketplaces. Buyers must read the conditions page for each individual auction they want to bid on. Remember, each retailer grades its conditions a little differently.

“I didn’t realize I had to arrange and pay for shipping”

While many of our marketplaces offer seller-arranges-shipping where the shipping cost is shown underneath the bidding box, some of our marketplaces run on a buyer-arranges-shipping basis. Again, each retailer operates according to its own terms and conditions, there is not a single shipping standard across our marketplaces. Near the bottom of the auction lot page, you will find a section on “Shipping” where it will outline the requirements for receiving that particular lot.

For background on the different shipping terms you will find across B-Stock, visit Buying Basics: Auction Lot Shipping Methods.  

“I mistyped my bid amount”

As the quote says, “To err is human”. And while we understand that human error happens, whether or not a bid will be canceled is ultimately up to the discretion of our B-Stock Customer Service team. Our Customer Service team is usually very understanding that mistakes happen; however, if a bidder continuously requests to cancel bids, there will be a $50 fee for each request. Additionally, bidding privileges will be suspended until the fee is paid.

In order to prevent this from happening, we’ve put systematic measures in place so buyers must do a quick double check prior to submitting their bid:

This is the window that will pop up after a buyer enters their bid for a specific auction and clicks “bid now.” It provides an additional opportunity (and layer of protection) to confirm there are no extra digits prior to pressing “submit my bids.” So while the system will ask multiple times to confirm a bid, please take the time to confirm the bid is typed correctly.

Note: no bids will be canceled within 15 minutes of the auction closing, or if the auction is in popcorn bidding.

“I still want to cancel my bid or order”

Remember, B-Stock considers all bids to be binding contracts and your winning bid is also considered a binding agreement to pay for the product at that price. As a buyer, you are not able to cancel your own bid or order, only a member of our Customer Service team can do that for you.

If you cancel an order you run the risk of being fined a reinstatement fee or permanent suspension from the marketplace. Each seller’s Terms of Purchase and/or FAQ will have those specific details (usually located at the bottom of the page).

Please know that each seller reserves the right to cancel an existing order (see the Terms of Purchase for additional detail). B-Stock understands that the platform only functions if the orders are successfully purchased, and discourages cancellations from both seller and buyer alike.

For any questions regarding canceling a bid or an order, contact our Customer Service team.