Non-Profit Partners FAQs
It will be similar, with a few exceptions. The donor will be supporting the NPO of their choice, and the NPO will not necessarily be handling the item.
The donor will receive a qualified charitable donation receipt containing a description of the item(s), the date and signed by a representative of the NPO. The donor will be responsible for assigning a value to the item and maintaining the receipt for tax purposes. The NPO will record the money received from the net proceeds as unassigned cash contributions. Since the NPO is consigning the item with WOW Auction, the proceeds should not be assigned to or attributed to the donor.
Simply stated, none! Some organizations elect to notify their members, donors, etc. of this agreement which allows the donors to further support the NPO. Others may wish to place information about and/or a link to our website on their website. Some may choose only to have the agreement in place should such ongoing opportunities arise. There’s no obligation, but there’s lots of potential!
Yes. For more details, please see our “Sellers” page which has a list of products we do not accept.
No, WOW Auction’s relationship with your organization will be to provide the service of converting your tangible items into cash for your cause. We will not advertise, represent or use your organization’s name without your expressed written consent.
Yes, however, you should be aware that the IRS has passed special laws in the area of cars, boats and other titled vehicles. In addition, donations of items valued at more than $5,000 also require appraisals. These items should be discussed with your tax professionals. Should we receive an item of this nature we will contact you to discuss the matter prior to placing the item up for auction.
Each item consigned with WOW Auction is posted to one of our upcoming, bi-weekly auctions. Once the auction has been completed, the check for your proceeds will be mailed within ten (10) days. Our website contains data relating to the sales price of our current and past auctions, therefore you can anticipate or confirm the amount of your check at any time.
Our consignment fees are as follows:
- Items Delivered to WOW 30% of Sales Price
- Items Picked-Up by WOW 50% of Sales Price
These amounts can be changed if special circumstances exist (i.e. big ticket items), but will not be changed without written consent from the NPO.
With an auction anything is possible; some items will sell for a much higher than the anticipated price, and conversely some will sell for less than expected. It is important to note that the sales price of the item(s) will determine the amount of proceeds forwarded to the NPO, but it will NOT determine the amount of deduction taken by the donor. The donor, in accordance with IRS regulations, will be required to place a value on their donated item and that amount will be used for tax purposes.
WOW Auction cannot provide the NPO with legal or tax advice, however, we can provide you with examples that can be customized to your needs.
That is certainly an alternative, and many organizations have opted to do just that by establishing their own thrift shop. The concern with this is the amount of money, space and volunteer hours that it takes to operate such an endeavor. We have found that the 30-50% consignment rate in most cases is a far less expensive and more efficient option.
WOW Auction is Southwest Florida’s premier online auction house specializing in all types of auctions, including:
Antiques, Appliances, Bankruptcy Auctions, Boats and Vehicles, Business Liquidations, Estate Sales, Furniture, Heavy Equipment and Machinery, Tools, Vacations, and MORE!