Auction Sellers FAQ
Who can become auction sellers?
Any user who has registered on Dealite.in can become a seller.
Do I have to separately register for
becoming a seller?
No, as long as you are registered as a user on Dealite.in, you
do not have to register separately to become a seller. However we do require you
to provide bank details, Permanent Account Number (PAN), etc to credit your earnings
directly to your bank account.
Dealite Tip: Make
sure you fill in your
Personal Details to ensure you get your earnings on time.
Do I have to pay anything to become
a seller?
No. At this point, we have waived all joining fees. All you need
is a buzzing social network to be an effective seller.
Do I have to source products to setup
an auction?
No. We manage the sourcing, delivery, payments and customer service.
You can choose any product from our Seller Catalog.
Will auctions by auction sellers be
displayed separately from auctions setup by Dealite?
No. Auctions by auction sellers will be displayed alongside other
auctions by Dealite.
What are the main responsibilities
of auction sellers?
The main responsibilities of auction sellers are to:
- Setup the auction
- Share and invite friends to your auction
- Ensure enough seats get bought before your auction starts
Your primary goal as a seller is to get enough bidders to your
auction. Do I have to pay anything to setup
an auction?
You need to pay a nominal deposit to setup an auction which is
refundable on successful completion of your auction.
Why does Dealite require a deposit
from auction sellers?
We want to provide a positive experience for both our buyers and
sellers. A nominal deposit (refundable on successful completion of your auction)
ensures that a seller is genuine and committed to the success of their auction.
How do I setup an auction?
It’s as easy as 1-2-3 to setup an auction. Step 1: Browse the Seller Catalog and select from any of the products
Step 2: Set the date, time and select seat configuration (number of bidders for
your auction)
Step 3: Pay your nominal deposit to confirm your auction
Dealite Tip: Start inviting
early to ensure your auctions are always housefull. The more seats you fill, the
higher your payout.
Dealite Tip: Only use the
specific Invite Page for your auction and invite options therein to invite your
friends on Facebook, Twitter, Gmail, Yahoo! Mail, etc.
After you setup your auction, you are assigned an invite page for
that auction. Simply use the invite page for your auction to invite your friends
on Facebook, Twitter, Gmail, Yahoo! Mail, etc. Please keep in mind that only invites
sent using the options on the invite page will be tracked.
Dealite Tip: You can find
the invite page for your auction by visiting the Auctions Setup page in your My Account (My Sales) section and clicking
invite.
Dealite Tip: Make sure
you only use the specific Invite Page for your auction and invite options therein
to invite your friends on Facebook, Twitter, Gmail, Yahoo! Mail, etc.
Why do I have to invite friends to
my auctions?
Our proposition is simple. We provide you the platform and take
care of product sourcing, payments, delivery and customer service; all you do is
setup and invite friends to your auctions. All seats for an auction need to be filled
(bought) for the auction to start. The more seats you fill, the higher your payout.
Dealite Tip: An auction
gets cancelled if all seats are not filled (bought) before the auction start time.
If your auction gets cancelled, you have one more chance to setup a make-good auction
on the same deposit.
Auction sellers earn when their auction is successful i.e. 3 days
after the auction is over (when all claims for win & Buy It Now are closed) and
winner claims the item won i.e. pays for the item won.
Please note that your earnings are calculated and eligible/valid
only when the winner claims the item won i.e. pays for the item won. Our system
automatically calculates the ‘gross gains’. Given below is an illustrative working
example for how much you could potentially earn in a successful auction for say
an iPad2 with: - Setup the auction
- Share and invite friends to your auction
- Ensure enough seats get bought before your auction starts
Your primary goal as a seller is to get enough bidders to your
auction. How much do auction sellers earn?
How are the earnings calculated?
Auction sellers earn a percentage of ‘gross gains’ for all successful
auctions depending on percentage of seats filled (‘buy seat’) by the auction seller.
| | |
| 71% and above | 50% |
| 36% to 70% | 30% |
| 30% to 35% | 15% |
* Rounded off to the whole number
Ex. For a 30 seat auction the earnings could be as follows.
| | |
| % | Numbers |
|
| 71% and above | Above 22 of 30 seats | 50% |
| Between 36% to 70% | 11 to 21 of 30 seats | 30% |
| Between 30% to 35% | 9 to 10 of 30 seats | 15% |
Here’s a reference for calculating ‘gross gains’:
Gross Gains = Cost per Bid x(Total bids utilised by participants
to buy seats for your auction + Total bids placed in the auction excluding free
bids) + (Final Item price paid by the winner – Dealite price) + (Item cost paid
by BuyItNowcustomer1 - Dealite price) + (Item cost paid by BuyItNowcustomer2 - Dealite
price) +... (Item cost paid by BuyItNowcustomerN - Dealite price) – taxes as applicable.
Where ‘N’ is number of BuyItNow payments made for that auction.
Please note that your earnings are calculated and eligible/valid
only when the winner claims the item won i.e. pays for the item won. Our system
automatically calculates the ‘gross gains’. Given below is an illustrative working
example for how much you could potentially earn in a successful auction for say
an iPad2 with: - Number of seats: 30
- Cost per seat: 50 Bids
- Dealite Price:
30,000 - Total Number of bids placed (incl. Free bids):
3,000
- Number of Free Bids placed:
1,500
- Final item Price reached and paid by the winner:
3,000
- No Buy It Now claims
Gross Gains = Cost per Bid x (Total bids utilised by participants
to buy seats for your auction + Total bids placed in the auction excluding free
bids) + (Final Item price paid by the winner – Dealite price) + (Item cost paid
by BuyItNowcustomer1 - Dealite price) + (Item cost paid by BuyItNowcustomer2 - Dealite
price) +... (Item cost paid by BuyItNowcustomerN - Dealite price) – taxes as applicable.
Gross Gains =
20 x {(30x50) + (
3,000 -
1,500)} + (
3,000 -
30,000) – taxes as applicable. Gross Gains =
33,000 - taxes Now your earnings will be as follows depending on the number of
seats filled by you (seller) | | |
| % | Numbers | % | Numbers |
| 71% and above | Above 22 of 30 seats | 50% | 
16,500 - taxes |
| Between 36% to 70% | 11 to 21 of 30 seats | 30% |
9,900 - taxes |
| Between 30% to 35% | 9 to 10 of 30 seats | 15% |
4,950 - taxes |
We transfer seller earnings on the second and fourth Tuesdays of
every month. Auction sellers need to accrue a minimum of
1,000 (earnings + deposits) to request a payout. We have a net 30 days ‘cooling’
period before attributing earnings to a seller. This is to adjust earnings for any
charge-backs/ refunds.
We require your bank account information to transfer your earnings
through the NEFT (National Electronic Funds Transfer) system directly to your bank
account.
Dealite Tip: Make sure
you provide us with accurate Personal Details to ensure you get your earnings on time.
If your auction gets cancelled, i.e. all seats were not filled
(bought), all bids paid by users to buy seats are credited back to their user accounts.
You have the option to setup a make-good auction for the same product within 3 days
of auction cancellation. Your deposit from the cancelled auction gets transferred
to your new make-good auction, i.e. you do not have to pay the deposit again.
Dealite Tip: Auction sellers can setup make-good auction from
Auctions Setup in My Account (My Sales) and clicking ‘Setup Again’. Next, simply
set the date, time, select seat configuration (number of bidders) and proceed to
your new invite page for inviting your friends.
What if I don’t set up a make-good
auction after my auction is cancelled?
If you don’t setup a make-good auction with the given period, a
processing charge for platform and payment gateway usage is levied on you and your
deposit gets used for the payment of this processing charge.
What if my make-good auction also
gets cancelled?
If your make-good auction gets cancelled, your deposit gets used
as processing charges for platform and payment gateway usage.
Where can I see and track my auctions?
You can view your auctions in your My Account console in My Sales
section. Here’s an overview: Personal Details: Personal Details page includes information
we need from you to ensure you get your earnings in time.
(Seller) Auctions Setup: (Seller) Auctions Setup page displays
auctions which you host. You can go to your auctions, find your invite page or setup
a make-good auction on this page.
(Seller) In Progress Auctions: (Seller) In Progress Auctions
page displays auctions which are setup by you and are currently in session.
(Seller) My Payout: (Seller) My Payout page displays details
of all successful auctions setup by you. You can request payout and proceed to submit
an invoice for eligible auctions.
(Seller) Auction History: (Seller) Auction History page displays
a history of auctions (completed, cancelled) which you have hosted.
What happens if auction sellers do
not provide PAN (Permanent Account Number) and PAN proof?
If an auction seller does not provide PAN number and submit a copy
of the PAN card, as per applicable law we are required to deduct TDS (Tax Deducted
at Source).
Dealite Tip: If you have
provided us with your PAN number, make sure you send a scanned copy of your PAN
card to sellsupport@dealite.in.
This is a onetime process, unless you update your PAN card details.
Auction sellers can request a payout from (Seller) My Payout in My Account (My Sales) in the ‘Available
for Payout’ section which includes all eligible auctions that are cleared for payout.
Simply click ‘Request Payout’ and proceed to the Payout Request page where you can
submit an invoice without service tax and your payout request is queued in our system.
Dealite Tip: If you have
a service tax number and service tax is chargeable, the earnings will be inclusive
of taxes (chargeable/ collected by you); please contact sellsupport@dealite.in to separately submit
your invoice and service tax proof.