Accepting bids on Flippa

16 replies
Hi,
I am currently in the proces of selling my website on Flippa and since it is early in the auction I am just accepting all the bids. But the more research I do I find out Flippa has a lot of fraudulent bidders, who just bid but have no intention to pay.

So that is why I want to ask some advice from experienced sellers on Flippa: Based on what criteria do you accept a bid?

Some info about my auction:
- I expect to to sell between $200 - $500
- I clearly stated that I only accept Escrow

Now most of the bids I got so far are from people with no feedback, no sales/buys and just some bids on other auctions. Should I keep accepting these bids or stricly go with bidders who already have feedback? Ofcourse I am not going to accept bidders who have logged in from different places around the world and look sketchy.

I also believe that for any bid above $200 you need a creditcard verification, so that should also be kind of a security, that most bids above $200 are for real?

Any help is greatly appreciated!
#accepting #bids #flippa
  • Profile picture of the author IMGem
    If you started your price from the price you want to sell or from low price?

    If you started with the price you want to sell then before accepting bids just drop a message to user if he is serious in purchase. If you started with low price then initially you can allow everyone bid but once it reaches near desired price, then you can accept upon verification.

    For the sites that have little or no revenue, i accept everyone. For 10% of the sales, i ended up having payments problems otherwise it always went smooth.
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  • Profile picture of the author Thomas Smale
    At the level you are selling, I doubt you will get many regular buyers with a lot of feedback - they would mainly be buying larger sites. So, I wouldn't let the buyers with little history put you off.

    I would always message them before accepting their bid. If they have no feedback/no history say to them you would like them to send you a quick message confirming they are serious before accepting their bid. Something like:

    "Hi there,

    Thanks very much for your bid on my auction.

    As you are new to Flippa, I would appreciate if you could send me a quick message confirming you are a serious buyer before I can accept the bid.

    I look forward to working with you.

    Regards,
    pietpatat"

    I haven't used Flippa for a few years but that always worked when I sold more regularly. One thing I would add, because you're only accepting Escrow, it will probably put off a few people at that end of the market who are used to using Paypal. Just bear that in mind before accepting people (I would be tempted to accept Paypal if they have an account with history and feedback - they are unlikely to rip you off and lose an established account).

    Good luck!
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  • Profile picture of the author Nick Logan
    At first I accept all bidders. This makes your listing active and more people will see it. At the end of the auction you should be more careful and contact high bidders before it ends. Get to know them better and see how serious they are.
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  • Profile picture of the author brettb
    Is it risky accepting PayPal on Flippa? Or is a seller reasonably safe because you're selling intangible goods?
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    • Profile picture of the author Thomas Smale
      Originally Posted by brettb View Post

      Is it risky accepting PayPal on Flippa? Or is a seller reasonably safe because you're selling intangible goods?
      Paypal isn't safe at all. Only use it for small transactions (<$1k) where the buyer has an established history. If you don't you're running the risk of getting scammed - that's not to say you will every time, but it does happen. Even though Escrow.com is more expensive than Paypal, you'll save money in the long run by not getting ripped off by buyers and avoid disputes.
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    • Profile picture of the author pietpatat
      Thanks for all the comments guys!

      2 more questions about this topic:

      1). If the auction doesn't go thru because the bidder didn't pay, do you have to pay the $19 fee again, or does flippa relist it for free?

      2). Why do people even bid when they are not planning to pay? What are they hoping to get out of this?
      I'm even reading now that there are bots making these fake bids.
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      • Profile picture of the author eric w
        Originally Posted by pietpatat View Post

        Thanks for all the comments guys!

        2 more questions about this topic:

        1). If the auction doesn't go thru because the bidder didn't pay, do you have to pay the $19 fee again, or does flippa relist it for free?

        2). Why do people even bid when they are not planning to pay? What are they hoping to get out of this?

        1). When the bidder doesn't pay, the offer goes to the next highest bidder. If he doesn't pay, then flippa will relist that auction for free. I had this happen to me once out of dozens of sales on flippa.

        2.) Some people just do this. Don't worry about it, it's the nature of the business. Adjust, and move on. Most of my bidders don't have much feedback and I don't have a problem with them paying.

        You definitely should message a bidder before the auction ends that you have doubts about and explain that you only accept serious bidders. i usually tell them that if they don't respond to my message within x amount of time, then I'm not accepting their bid.

        You can't totally prevent it from happening, but you can deter it abit.
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        • Profile picture of the author pietpatat
          Originally Posted by eric w View Post

          1). When the bidder doesn't pay, the offer goes to the next highest bidder. If he doesn't pay, then flippa will relist that auction for free. I had this happen to me once out of dozens of sales on flippa.
          Thanks a lot. I never knew that if the highest bidder doesn't pay it goes to the second highest bidder! In that case I can be a little less strict right, since the chance is rather small that the 2 highest bidders don't pay.
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          • Profile picture of the author eric w
            Originally Posted by pietpatat View Post

            Thanks a lot. I never knew that if the highest bidder doesn't pay it goes to the second highest bidder! In that case I can be a little less strict right, since the chance is rather small that the 2 highest bidders don't pay.
            I've tested both...accepting all bidders and confirming bidders. I still use both situationally (is that even a word?...you all know what I mean).

            For instance, when i'm going to start my site bidding at $1, which I rarely do, then I confirm bidders first.

            Why? because there are people searching flippa to bid on $1 auctions. Once I get a bid, I leave it pending so people still see it as $1. That also generates traffic to your auction.

            Sometimes I'll allow 2 or more bids to pend (???..on a roll with new words).

            I need to save my answers for my upcoming flippa wso
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  • Profile picture of the author brutecky
    PayPal is not safe. The buyer can just do a charge back and claim that someone stole the CC number. Honestly Flippa itself is not a safe site. They hook up a seller with no validation to a buyer and then let them go alone. No transaction assistance at all. Thats insane!
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  • Profile picture of the author mrgoe
    Just accept everything till just below the reserve. That`s what I do
    THen I get a little more picky.
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  • Profile picture of the author xpesos
    At first i also accepted every one
    But last 48 hours are crucial, then i accepted every 24 hours
    Though the successful bidder refused to pay because he was not serious but flippa gives you option to have deal with next highest bidder, so you are pretty safe here
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  • Profile picture of the author brettb
    Thanks - yeah I know PayPal sucks. I joined a membership with a 100% moneyback guarantee, but when they refused to actually honour that guarantee I failed to get my money back on PayPal either.

    So from now on I'll use my credit card where possible.

    Escrow is a good idea but obviously there's yet more costs on top of Flippa's steep fees and it puts off buyers who would rather just use PayPal.
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    • Profile picture of the author Thomas Smale
      Originally Posted by brettb View Post

      Thanks - yeah I know PayPal sucks. I joined a membership with a 100% moneyback guarantee, but when they refused to actually honour that guarantee I failed to get my money back on PayPal either.

      So from now on I'll use my credit card where possible.

      Escrow is a good idea but obviously there's yet more costs on top of Flippa's steep fees and it puts off buyers who would rather just use PayPal.
      Escrow isn't that much more expensive than Paypal.

      On a $1000 transaction it would be $32.50 on Escrow (plus wire fees) or ~$29.30 in Paypal fees. I would rather pay a little more to be safe EVERY time.

      Let's say you do 10 sales via Paypal to save a little money. If you get ripped off 10% of the time (likely scenario on Flippa) then you'll end up with $9k minus fees.

      With Escrow, you wouldn't have been ripped off at all, so you'll end up with $10k minus fees - much more economical and less stressful.
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      I specialize in selling websites over $10,000 in value. No obligation, confidential valuation here.
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      • Profile picture of the author pietpatat
        Ok my auction has 1 more day to go and I'm gonna do it like this: I will make sure either my highest bidder or my second highest bidder have history on flippa ( either sold or bought something on flippa ). This way if the highest bidder doesnt pay I can fall back on the second highest bidder who is most likely to pay since he already did so for other website, but I can still accept a lot of bids to maximize my profit.
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