When an auction ends successfully (time runs out with a price above reserve or the BIN option is used), the successful buyer will fund escrow.
Once the funds are confirmed in escrow (automatically), the following steps need to be completed:
- The seller needs to reach out to Amazon to authorise the buyers new seller central account to sell their brand/ products. This form can be used: https://s3.amazonaws.com/brandregistryna/application_templates/Amazon+Brand+Registry+Brand+Owner+Authorization+Letter_en_US.pdf The form is from this article (you need to login to Seller Central to view): https://sellercentral.amazon.com/gp/help/200955930
- Once the buyer has the ability to add the products for sale, the Seller needs to send any inventory to the buyer
- When the buyer has the inventory in their account they can then list the product for sale
- The seller needs to put their price up so the buyer gets the 'buy box'
- The seller then needs to withdraw their products from sale and ship the inventory to the buyer
- The seller then needs to reach out to Amazon again and ask them to help transfer brand registry to the buyer. Amazon will explain the process.
When this is complete, the seller will use the escrow interface to request that the buyer release the funds from escrow.
The success fee is collected upon the release of funds from escrow. The Flippa Escrow team will then process the release, which can take a few days. After that, wire transfer times vary and are outside of our control.
Flippa is not a party to the sale, nor do we provide legal guidance. However, you can elect to have your transaction governed by the Default Sale Terms, or you are welcome to modify the Sample Sale Agreement we provide for reference.