This article describes what Live.Approvals is and how it impacts bidder registration.
This article contains the following sections:
What is Live.Approvals?
With hundreds of thousands of new bidders joining LiveAuctioneers each month, the opportunity to grow your auction sales has never been greater. As such, we have enhanced your bidder approval process with additional data and insights to help you approve new bidders more easily and confidently. There is no additional cost to access these insights.
Using machine learning, Live.Approvals indicates whether an active bidder would be approved by auction houses who maintain the highest levels of payment success.
The Live.Approvals data made available by LiveAuctioneers are for informational purposes only, and should be considered as one factor, among several, in approving or rejecting a bidder. Additional consideration should be given to factors such as:
- Card on file status
- Past purchase history
- Payment rate
It is the sole responsibility of each auction house to evaluate the content, usefulness, and efficacy of the bidder information and data made available through this program.
LiveAuctioneers does not recommend, endorse, or make any representation about the efficacy, appropriateness, or suitability of any products or services offered by third parties and shall not be liable for any loss, claim, or damages that you may have against any such third party.
How Does Live.Approvals Work?
The Live.Approvals machine learning model is based on a powerful combination of a bidder’s auction history, real-time data collected from millions of bidder transactions, and a sophisticated algorithm modeled from proven best practices employed by top auction houses across the industry.
Viewing Live.Approvals Data
Live.Approvals data will be shown in the bidder's profile information you see on the right side of the Bidder Dashboard.
- If Live.Approvals is listed on the bidder profile, the bidder would likely be approved according to approval practices used by auction houses on LiveAuctioneers who maintain the highest levels of payment success.
- If Live.Approvals is not listed on the bidder profile, there is not enough available bidding history to make an approval assessment for this bidder.