Q2 2023 Recap!

Q1 2023 Statistics/Milestones:

Total Auctions Closed: 1,294

Largest Auction by Sales: $954,895 Your Boat Club - Your Boat Club April 2023 Auction - Pontoons, Runabouts & Fishing Boats! https://www.k-bid.com/auction/48392

 Largest Auction by Lots:  1909 Surplus Liquidation Auctions Powerbikes.com E-Bike Final Liquidation Sale  https://www.k-bid.com/auction/48622

Most Watched Items of the Quarter:  

268 Watchers - 1980 Chevrolet Z28 Camaro:  View here
232 Watchers - 1977 Suzuki Mini Pickup:  View here
225 Watchers - John Deere 650 4WD Tractor With Loader -View Here
217 Watchers - 2019 Kubota B2601 4WD Tractor -View Here
211 Watchers 2014 Tesla Model S P85D AWD View Here

Website Statistics:

*unique bidder accounts placing a bid in a given month.  

	Bidder Registrations
	2022	2023
Jan	2,347	2,537
Feb	2,332	2,871
Mar	3,194	2,569
Apr	3,010	3,101
May	3,047	2,460
Jun	2,919	2,872
Jul	3,162
Aug	3,200
Sep	2,935
Oct	2,922
Nov	3,046
Dec	2,390

*all bidder signups, qualified (phone number verified, credit card) and non-qualified.   

	Website Sessions
	2021	2022	2023
Jan	1,043,960	1,014,746	1,105,744
Feb	939,528	956,142	1,016,737
Mar	1,062,515	1,095,367	1,089,277
Apr	1,088,584	1,145,435	1,145,840
May	1,000,205	1,075,358	1,031,753
Jun	974,208	1,071,033	1,087,464
Jul	959,755	1,013,001
Aug	1,008,396	1,102,699
Sep	943,129	1,049,079
Oct	996,803	1,068,170
Nov	930,528	1,120,425
Dec	935,601	1,034,494

*A session is defined as a group of interactions one user takes within a given time frame on your website. Google Analytics defaults that time frame to 30 minutes.

Top 10 Affiliates by Sales for Q1 2023:

	Q1 2023
1	Twin Cities Auctions
2	We Sell Your Stuff Inc.
3	Your Boat Club
4	Surplus Liquidation Auctions
5	NCS Auction Company
6	Estate Sales Minnesota
7	Loretto Equipment
8	KX Real Deals
9	Asset Liquidation Auctions
10	Auction House

What's going on?:

Bidder Reinstatement/Non-paying buyers:  

Time and again we at K-BID encounter bidders whose account has been disabled due to a no show invoice.

Within these encounters, we come across those who cannot understand why they need to pay a reinstatement/penalty fee.  Part of this group of bidders are those who believe this, after speaking with the affiliate from the auction the no show invoice is from.  There have been many times when we have heard “The affiliate said it’s not a problem” or “It’s fine, we’ll just relist the item”.  Unfortunately, these phrases give the bidder false expectations regarding their account being enabled again.

No-shows are a big deal and are a problem, as you know.  A problem that affects every person connected to an auction: the seller, the affiliate, the bidders and K-BID.  You as affiliates are aware of just how much time and effort is utilized to create and run your auctions.  When working with consignors, you hear how important those sales are to them.  When meeting the bidders, you hear how much they wish they could have gotten that one other item.

So, when a time comes that you are speaking with someone who won’t be paying and picking up their items, it’s important the right message is being given.  You appreciate them reaching out to you, you’ll manage the item not being picked up and they need to reach out to K-BID regarding their account.

“Thanks for contacting us to let us know you won’t be picking up.  We’ll go ahead and take care of the item, but you’ll need to contact K-BID about re-establishing your account.”

It's important that we relay the same messaging that is in line with our policies so buyers, sellers, and affiliates know what to expect.  

Maximizing Financial Success:  Accounting Strategies for Auction Companies 

We had the oppurtunity to sit down with Cinda Lavato, former affiliate and accountant, to discuss some hot topics regarding accounting, bookkeeping, sales tax and more.  

Check out our video here:   

If you have bookkeeping needs or questions for Cinda, please see here contact information below: 

[e-mail] 

320-247-4199 

www.bookedandbalancedacctg.com 

K-BID In The News:   

 We've had a number of auctions in the news lately!  Some regionally and some received national attention.  If you have an auction that may be newsworthy, contact us to see if we can help get it featured! 

Auction Pro's Sign auction in KSTP:  

https://kstp.com/kstp-news/top-news/auction-to-feature-signs-from-music-minnesota-history/

JMS My Pillow Auction (can be found in many national news outlets):  

https://www.usatoday.com/story/money/2023/07/11/mypillow-auction-retailers-drop-product/70401229007/ 

Surplus Liquidation Auction - Ebike liquidation 

https://bringmethenews.com/minnesota-business/electric-bike-store-powerbikes-com-closing-in-st-louis-park 

Affiliate Spotlight:  

This month we are spotlighting Southern Minnesota Auctions (formerly NPS Auctions)!  These spotlights will be featured on our social platforms and on our internal blog.  Our goal is to sell you and your services, while also showing the personal side of our business. 

Affiliate Name: Southern Minnesota Auctions

Affiliate Since: 2019

ation: Nicollet, MN

"No day is ever the same!"

"Love working with diverse population."

"When we win, our customers win."

“Everybody’s got something to sell."

Says Kimberly, member of one impressive, fun loving, curious, engaging family business called Southern Minnesota Auctions. The three main members of the Southern Minnesota Auctions team include Kimberly, her husband Jason, and Jason’s Brother, Mike.

The team can be found at their 7,000 square foot warehouse in Nicollet, Minnesota or on-site shooting their next estate or industrial auction. They thrive on consignment items – from the practical riding lawn mower to the unique antique you’ve never seen before (but absolutely NEED to have). They curate their auctions to appeal to bidders like you.

"Nothing better than finding the perfect buyer for something someone is ready to pass on to the next owner,” she says.

While speaking with Kimberly it was apparent this is the perfect lifestyle for she and her family. "Integrity first" she tells me, "and all things fall after that.” Everyone involved with Southern Minnesota Auctions is vetted — important when “running a tight ship.” Kimberly explains that helping others move their things along with respect, compassion, and care has turned into a passion of hers.

"Because we are a small company, we can be agile and focus on specialty items. We like to take the time to learn about the items we are selling. Everything has a story, and we want to give people the best opportunity to learn about what we are selling. For us, it's about relationships. Getting to know people and their stories helps us to provide a positive auction experience. Sometimes, companies are ready to clear the clutter and grow their business. Other times, we’re catching people at a tough time of transition, and they need to get a family member’s assets cleaned out so they can move on with their next stage of life. Whatever the reason, we are confident that our services will help put a positive spin on what tends to be an overwhelming experience."

Kimberly tells me that her company appreciates the K-BID structure, people, support, and huge bidder base. “They’re great to work with and are extremely responsive. Not just to us, but when we have customers that ask a question we can’t answer, the folks at K-BID are willing and able to assist in any way possible.”

Kimberly can be found fishing, reading, drawing, or spending time with Jason and their 13- and 14-year-old daughters in their off hours. In his spare time, Jason can be found working on his 1983 Chevy C10 pickup truck, going to concerts, and cooking. Mike can be found working in his garage, listing on eBay, or watching the latest and greatest movie to keep his movie buff status. The shop dog, Petie, has won the “Best Snuggler” Championship since joining the team in 2018.

See the blog post here:  

 https://www.k-bid.com/blog/151/Affiliate+Spotlight%3A+Southern+Minnesota+Auctions 

If you want to be featured, please let us know!  

Have an idea for a future tip of the month that may be helpful for other affiliates?  Let us know by emailing [e-mail].