K-BID’s full disclosure policy requires affiliates to provide lot descriptions and pictures that accurately reflect the condition of the asset being sold. Consequently, the only time it is appropriate to include a stock photo as a lot photo is when the lot is New (defined below):
A lot can only be described as New if it is unused, unopened, undamaged, and is in its original factory sealed packaging. The original manufacturer’s warranty must still apply.
There is one possible exception to the above stock photo policy. If an auction lot doesn’t meet the criteria to be described as New, and it comes disassembled in a box, a stock photo may be used if the item is either too large or too complicated to assemble for a lot photo. However, if a stock photo is used, it is the affiliate’s responsibility to make it extremely clear to bidders that a stock photo has been used and must specifically state how the actual item differs from the stock description/photos, i.e., list missing pieces, describe and photograph any damage or repairs required. Please see the Lot Condition Disclosure Policy for an explanation of lot conditions and criteria.
IMPORTANT: Stock photos are protected by copyright laws. Every stock photo appearing on K-BID.com must be properly licensed and the license agreement must specifically provide legal protection against copyright infringement claims. Affiliates are responsible for ensuring they are licensed to use every stock photo appearing in one of their auctions.
Additional Photo Requirements When Stock Photos are Used
Whenever a stock photo is used for an auction lot, pictures of the actual item being sold must also be included in the lot photos. While a picture of the item being sold won’t be a compelling picture to look at, it does provide bidders with a visual of the condition of the packaging and gives them a good idea what to expect on removal day if they are the winning bidder.
Lot Description Requirements when Stock Photos are Used
Whenever a stock photo is used for an auction lot, the lot description must specifically include the following information:
- Lot Condition – using the terms in the Lot Condition Disclosure Policy.
- Does the lot require assembly?
- A list of missing parts.
- Defects affecting the way the item is intended to function.
AS IS WHERE IS does not apply to lots missing any of the above information.