Before you bid on a BidChips lot, do four things: set a per-piece ceiling from your own standard cost, read the lot’s date code and packaging, open the White Horse Laboratories report, and check the closing time. Then enter that ceiling as a proxy maximum and stop watching. You will pay one increment over the runner-up, never your full number unless someone pushes you there.
This is the checklist a procurement buyer runs in the five minutes before the first bid. Each item is a check that costs nothing and a mistake that costs a lot.
What should your per-piece target be?
Start from the number you actually pay today — the standard cost on your BOM, not a list price. Broker quotes typically stack 25–75% of margin between you and the part (FAQ); an open auction removes those layers, so the honest comparison is your real landed cost against the lot’s per-piece price plus shipping and duties.
Every price on a lot is shown per piece with a /pc suffix, so the comparison is direct. Write your ceiling down before you look at the current bid. A ceiling set after seeing the bid history drifts upward.
Should you start low?
Yes. There is no penalty for bidding under the current ask, and the reserve on most lots sits low — sellers typically set it at 5–15% of the lowest distribution price and let the bidding find the clearing number (FAQ). When the room is quiet, a low target clears.
The better move is to skip the opening bid entirely and set a proxy max bid at your ceiling. BidChips bids on your behalf, only as high as needed to stay in front of the next bidder, and you pay one increment over them at close. You do not have to watch the clock, and you cannot get carried away in the last minute because your number was fixed in advance. The mechanics are in How Bidding Works on BidChips.
The pre-bid checklist
| Item | What to check | Why |
|---|---|---|
| Per-piece ceiling | Your standard cost minus the margin you need, per piece | The bid is a binding offer; decide the number before the bidding starts |
| Quantity | Pieces on the lot versus your demand | A lot larger than your need is inventory you will carry |
| Date code | The code shown on the lot | Older date codes may need a bake or a re-qualification on your line |
| Packaging | Sealed factory box, factory MBB or reel, opened original, or loose | Factory-original with labels intact is the tier buyers pay most for, and the one with traceability |
| MSL and labels | Moisture-sensitivity level and factory labels shown on the lot | Tells you whether the parts arrive dry-packed and how they were stored |
| Lab report | The White Horse Laboratories report on the lot | Lots without direct traceability are authenticated before they ship |
| Reserve status | Reserve Met or Reserve Not Met on the lot page | A high bid under the reserve does not win |
| Closing time | The lot’s end time and its current status | Accepting Final Bids means confirm your maximum now |
| Landed cost | Shipping from origin, duties, tariffs, taxes | Prices exclude all of them; shipping is FOB origin |
| Payment window | PO within 24 hours of winning, payment within 24 hours of the PI | The clock does not stop at close |
What does the lab report actually tell you?
Lots without direct traceability are authenticated by White Horse Laboratories, a certified third-party lab, before they ship. The inspection covers external visual and marking-permanence checks, which separate genuine parts from remarked or counterfeit ones. Representative sampling is documented in the report, and additional tests such as x-ray or decapsulation may be performed if needed (FAQ).
Read it for three things: the manufacturer and MPN it names, the quantity inspected, and the result. A lot that fails does not ship, so what you are reading is the record of a pass — but the report is what your quality team will file, and the Terms treat that certification as satisfying the limited warranty for the lot it covers. Non-certified lots carry a 30-day limited warranty instead. Know which one you are buying.
The report is tied to the lot and stays on your dashboard after purchase.
When is Buy-It-Now the right call?
When certainty is worth more than the last few cents per piece. Buy-It-Now is a fixed per-piece price that ends the auction for that lot instantly. Use it when a line is down, when a part is on allocation and the franchised channel is dry, or when a ship date is fixed and a lost auction means a missed build.
For a stock buy with no clock behind it, let the proxy max do the work and take the lower clearing price.
What does landed cost include?
Per the Terms, prices exclude shipping, insurance, duties, tariffs, and taxes, and shipping is FOB origin: title and risk of loss pass to you when the lot is handed to the carrier at the shipping point. Lots ship from major continents near where they are tested, and routing is tariff-smart to cut duty exposure and transit time (FAQ) — but the rate is still yours to pay and varies by destination.
Add your estimate for those to the per-piece price before you set the ceiling. A lot that beats your standard cost by 12% and then absorbs 15% in duties did not save anything.
What happens in the 24 hours after you win?
Per the lot terms and the Terms, three things are due fast:
- Your PO, within 24 hours of the winning notification.
- Payment, within 24 hours of receiving the proforma invoice — in advance of shipment unless you hold written credit terms.
- Inspection on receipt, with written notice within 3 calendar days for an apparent nonconformity, backed by a date-stamped photographic Condition Record.
All sales are final; there are no returns for convenience or a change in the market. Have the PO approver and the payment path lined up before you bid, not after you win.
Frequently asked questions
Can I upload a BOM instead of searching lot by lot?
Yes. The buy page takes a CSV or Excel BOM with part numbers, quantities, and your standard cost, cross-matches every line against live excess, and returns per-line savings measured against your real cost. It is free, confidential, and typically turned around in one business day.
Is every lot authenticated?
Lots without direct traceability are authenticated by White Horse Laboratories before shipment. Lots with clear traceability carry their factory labels and date codes on the listing. Read the lot page and the report to see which applies.
What if the lot fails authentication after I win it?
It does not ship. Only lots that pass certified third-party testing are listed and delivered, so a failed lot never reaches your dock.
Do I have to pay my full proxy maximum?
No. You pay one increment over the next-highest bidder. The maximum is only reached if another buyer bids up to it.
Where do I see the lots closing soonest?
Sort the marketplace by Ending Soon. Lots in Accepting Final Bids are the ones to confirm your maximum on first.
The five-minute version
Ceiling from standard cost. Quantity, date code, packaging, MSL. Open the report. Reserve status and closing time. Add duties and shipping. Enter the ceiling as a proxy max, and line up the PO before the close. Then browse the live lots and place the number.
