When we get
items from our clients and we list them on PropertyRoom.com, there are a few
different outcomes that can happen. The first result is that the bidder places
the highest bid and wins the item and the transaction is completed with no
The second result
is when the auction doesn’t generate any bids. If this occurs, we review the
item again to see if we can improve the listing description, or re-group it
with other items from that agency to create a “bundle.”
Another outcome would be that the highest bidder gets caught by our fraud specialists and we have to investigate. If there is an issue with the transaction and the bidder information isn’t verified, we will stop the transaction. That asset does not leave our possession. We then cancel the transaction and close that bidder’s account and sometimes even ban the user from the website.
If the item
did not generate any bids or the order was unable to be completed, that asset
is then relisted, and the other bidders have another opportunity to win. In
most cases we don’t send the asset back to the client agency, we auction it
again on our website. We want our agencies to get the highest return for their
assets but not if that return is fraudulent.
client needs an asset released back into their possession, we communicate with
them and facilitate that process as well.