Equip-Bid’s offers an incentive program to reward affiliates and motivate them to grow and improve their auction businesses.
Buyer’s Premium Cap: There is a Buyer’s Premium Cap on large items: Equip-Bid receives a maximum of $1,000 Buyer’s Premium on a single item (the item would have to sell for around $5,555), and the affiliate keeps the rest. For instance, if you sell a tractor for $25,000, the 18% BP on this item would be $4,500. Equip-Bid would only keep $1,000, so the affiliate gets to keep $3,500 from the Buyer’s Premium.
Additional Kickback Programs:
- Monthly Rebate Program
- Million Dollar Club Annual Kickback Program: Once affiliates hit a million dollars in sales for the year, additional incentives begin to apply.
Monthly Rebate Program: Depending on your monthly total sales, you can receive a rebate. The percentages on the right are 1-3% of the entire monthly sales. The middle column of annual sales does not affect this BP rebate but gives you a look at what these monthly sales add up to.
Monthly Sales | Annual Sales | BP Rebate:
- $10,416+ | - | 1.00%$
- 31,250+ | - | 1.50%
- $41,666+ | - | 2.00%
- $62,500+ | - | 2.50%
- $83,333+ | $1,000,000 | 3.00%
Large-Ticket Items: Since Equip-Bid caps large-ticket items’ BP at $1,000, the affiliate is already receiving a kickback in these cases. For this reason, these large-ticket item sales are removed from the total sales for the month when calculating a BP kickback.
Example:
If Affiliate B made $50,000 in sales for the month and sold a vehicle for $18,000:
- This vehicle would produce $3,240 in Buyer’s Premium, $2,240 of which would go straight to the Affiliate.
- The $18,000 is subtracted from the monthly total of $50,000 when calculating the percentage of rebate.
- The new monthly total sales would be $32,000, meaning Affiliate B would be eligible for a 1.5% kickback on $32K, which is $480.
- This is in addition to the $2,240 of BP kept by the affiliate for that vehicle.
Summary of Affiliate Monthly Rebate Program:
- Buyer's Premium: $3,240
- Equip-Bid Cap on BP: (-$1,000)
- Affiliate's BP: $2,240
- Monthly Sales: $50,000
- Subtraction for Large-Ticket Item: -$18,000
- Adjusted Monthly Sales for Rebate Calculation: $32,000
- BP Rebate Percentage: 1.50%
- Rebate Amount: $480
Rules:
To be eligible for this program:
- Affiliates must be in good standing with Equip-Bid.
- Affiliates must be active for the entire month to receive that month's rebate.
- Equip-Bid needs to collect all the BP from the previous month before crediting the rebate on the 15th of the following month.
Have questions? Contact us