Dealer Program: How the Bonuses and Fees Work

August 29, 2023

In the past, many dealers have had to deal with unpaid or cancelled orders. It's a frustrating experience, and a waste of your time and energy. That's why we've spent the last few months making buying and selling on Chrono24 even more reliable.

We began by revising your item availability options and introducing handling times. This means that potential buyers know when they can expect to receive their new watch before they place an order, which minimizes misunderstandings regarding delivery times.

Thanks to automatic order confirmation and shorter payment deadlines for reserved items, buyers are encouraged to make prompt payments. If they don’t, the item quickly becomes available again to other buyers. Similarly, if you send someone an offer, the item isn’t reserved until the buyer accepts. That way, they don’t prevent someone else from purchasing the item in the interim.

These updates have resulted in a more positive overall purchasing experience for buyers. As a dealer, you also benefit from a more streamlined sales experience that does away with a lot of time-consuming tasks.

We expanded our program by rewarding conscientious dealers with bonuses and charging additional fees for orders shipped too late for reasons attributable to the seller.

How the Bonuses and Fees Work

Conscientious dealers are rewarded financially: Shipping items on time is rewarded with a bonus. When orders are shipped too late or cancelled after receipt of payment for reasons attributable to the dealer, we’ll be charging additional fees. That way, you can earn a bonus with every sale – or be charged an additional fee.

Situation

Action

Example
Bonuses and penalty fees are always calculated based on the commission fee for a particular sale. This is not, however, a reduction of the commission fee. In this example, the bonus and penalty fees are calculated based on a commission fee of €300.
Order sent on time Bonus of 1% 1% of €300 = bonus of €3
Orders shipped too late:
Delay of up to 20%*		 Additional fee of 3% 3% of €300 = penalty fee of €9
Orders shipped too late: Delay of more than 20%* Additional fee of 5% 5% of €300 = penalty fee of €15
Order cancelled AFTER receipt of payment for reasons attributable to the seller Full commission fee due €300
Order cancelled BEFORE receipt of payment for reasons attributable to the seller 40% of the commission fee due 40% of €300 = €120
*Example: Delay of up to 20% = If you specify a 15-day handling time for an item that “needs to be procured” but don’t ship the watch until 16 days later, that’s a 7% delay. This means you’d be required to pay an additional 3% of the commission fee as a penalty.
  • Important: You'll pay the commission fee as usual, as this amount is only the basis for calculating your bonus or any penalty fees you may incur.
  • Every order counts: The bonuses you earn each month will be offset against the penalty fees incurred (if any) and shown in a separate invoice. Note: Revenue and fees from the sale of accessories are not taken into account.
  • Minimum threshold: We will only issue an invoice if the monthly net sum of your bonuses and fees is greater than €10. Bonuses and fees do not carry over into the next month.
  • Fees are capped at €1,500 per transaction. You'll receive a bonus payment of up to €500 per sale.

Stand Out From the Competition With Dealer Badges

We’ve expanded the Dealer Program with new dealer badges. These badges help potential buyers more easily compare dealers based on their performance, while helping you stand out from competitors and increase your chances of making a sale.

You can find more information on the new dealer badges here.

Extra bonus

The extra bonus previously included in the Dealer Program is being suspended for the time being.

Overview in Your Market Portal

You’ll find an overview of the Dealer Program on the dashboard of your Market Portal. In the “Dealer Program” section of your menu, you’ll also find a dedicated overview page with detailed and up-to-date information about your total overall performance.

Please note that the figures are only estimated bonus and additional fee amounts based on your performance as of that day, and thus are subject to change. The net sum will be reviewed and communicated to you at the end of the month.

Open the overview

How to Avoid Order Cancellations Prior to Payment

We want to motivate dealers to keep their listings on our marketplace up-to-date. Keeping listings up-to-date includes removing listings for items that have been sold elsewhere. We know that it’s hard to keep track of these things. That’s why we offer the option of easily deactivating or deleting listings in our Dealer App, available for your smartphone. The app enables you to manage your inventory on the go, so potential buyers can rely on the availability of the items you list – and you can avoid unnecessary fees that arise from cancelled orders.

But there’s more: In your Market Portal, you can designate the countries you don’t deliver to under “Listing settings.” That way, you won’t receive orders or requests from those countries and will avoid any related cancellations.

If you're already using the Dealer App, you'll need to update it to access all the features.

Enter Accurate Handling Times

If you list an item that needs to be procured, be sure to enter the amount of time you need to ship it. This handling time is binding. If you’re unable to meet this deadline, we recommend adjusting the handling time or setting the item status to “On request.” That way, you’ll also avoid disappointing buyers and additional fees.

Do you have any questions or comments? We'd be happy to help. Please don't hesitate to call or email your personal contact.

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