Automatic Order Confirmation & New Penalty Fee: How It Works
For Dealers
Beginning in February, orders for items with the status “Item in stock” will be accepted automatically. This means that buyers will be able to pay for the item immediately, and that you only need to send the item and confirm the shipment after the payment has been credited to the escrow account. You will no longer need to manually accept orders for in-stock items.
For Buyers
This will result in a faster and more reliable purchase process for your customers, as they will no longer have to wait until you have accepted the order before making payment.
As previously mentioned, this optimization applies to all in-stock items, which should be ready to ship quickly. It is therefore imperative that all items listed as “in stock” are actually available now, and that you exercise diligence when it comes to managing your handling times.
- You'll find detailed information about handling times here.
We will send you another notification via your Market Portal before the new rule takes effect.
The setting “Confirm order manually” will no longer be available in the Market Portal for items listed as “in stock.” When it comes to orders for items with a processing time of 4 to 30 days, you can continue to choose whether these orders are confirmed manually or automatically. For items with automatic order confirmation, you will receive an email as soon as a buyer places an order.
You also have the option of specifying which countries you do not want to sell your items to.
Your settings will apply to all new requests and orders as of February, but will not apply to open requests or orders. Select your destination countries in your listing settings.
Penalty Fee for Cancelations by the Seller
Unfortunately, dealers on Chrono24 still sometimes cancel orders after a buyer has paid for an item; for example, because the item has to be procured, even though it was listed as “in stock.”
This understandably leads to buyer frustration, which in turn results in negative ratings for the dealer and Chrono24. This also negatively impacts the reputations of Chrono24 dealers who list their orders correctly and reliably.
This is why we’ve decided to impose a penalty fee for orders canceled by the seller after payment. The amount of the fee will be equal to the commission fee that would have been charged had the sale been completed. These fees will apply beginning in February. The new penalty fee replaces the previous fee for cancelations following a shipping delay.
1. Dealer
You sell an item on Chrono24
2. Buyer
The buyer pays for the item
3. Dealer
You cancel the paid order
4. Chrono24
We charge you a penalty fee
1. Dealer
You sell an item on Chrono24
2. Buyer
The buyer pays for the item
3. Dealer
You cancel the paid order
4. Chrono24
We charge you a penalty fee
It is therefore imperative that you check whether you need to adjust the handling time for individual items before the new rule goes into effect. You can avoid penalty fees by not canceling paid orders.
If you need to cancel an order, and thereby incur a penalty fee, we will excuse the first offense. After that, however, the new rule will be enforced.
Important: A penalty fee will only be incurred when an order is canceled for reasons clearly attributable to the seller. The new rule is aimed at dealers who do not create a reliable and binding purchasing experience for their customers. Sellers who adhere to the information in their listings have nothing to worry about.
New Performance Model
In order to make buying and selling on Chrono24 even more reliable, we’re developing a new performance model.
How does it work?
The new model will take a dealer’s adherence to handling times and their number of canceled orders into account. The model will be based on a seller’s total monthly performance on Chrono24, so occasional slip-ups won’t matter very much.
The model doesn’t just penalize unreliable dealers, but aims to financially reward conscientious dealers. If, for example, a dealer’s number of canceled orders is very low, and they adhere to the specified handling time for each item, the dealer will receive a monetary bonus. Dealers who work carefully and conscientiously will therefore benefit from the model.
You will, of course, receive detailed information about our future performance model prior to its roll-out. Until then, the aforementioned penalty fee applies.
We welcome your feedback! Please feel free to call or email your personal contact if you have any questions.
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