When a sale on the BidMed Exchange ends, what happens next? How does payment work, how do the buyer and seller get in contact, and how does the buyer receive their new purchase?

Here are the 3 main steps that happen following the close of a listing:
SMS Update | Invoicing + Payment | Pickup + Shipping Logistics

Auction Event closings, while similar to this process, have a few unique differences. Click through to learn more about BidMed Special Event Auction closing.

SMS Update

Buyers

When a listing you have submitted a bid or offer on closes, the listing details will be moved in your SMS portal from Purchases: Current Bids section to the Purchases: History section.

This section includes the platform where the listing was placed (either the event name or the Exchange), the winning ultimate bid or offer, your highest bid or offer, and the closing date for the listing.

Sellers

When a listing of yours closes, it will be moved in your SMS portal from Sales: Active Listings to Sales: Listings History.


Invoicing and Payment

For Sales Under $1000

Buyers and sellers will be connected directly to handle payment for items whose final price is under $1000.

For Sales Over $1000

Buyers will receive an invoice emailed to the address associated with their BidMed account. Payment is due within 48 hours and acceptable forms include cash, wire, cashier’s check, credit card, or PayPal. Further details will be included with your invoice.

Sellers will receive their funds within 48 hours after payment has cleared from buyers, or after funds have cleared escrow, depending on the value of assets sold.


Pickup + Shipping Logistics

Upon receipt of payment, BidMed will release seller details to the buyer, including the pickup address and seller contact information. Buyers are responsible for all de-installation (if applicable), shipping, and handling costs.

Buyers and sellers should communicate directly to coordinate the logistics of transferring equipment.


Questions? Comments? Please let us know below!