Wednesday, Sep 14, 2016
by WonderStreet
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10 Wonders of the Week

10 Wonders of The Week is a chance for you to get your artwork in front of hundreds of interested art buyers. Every week we’ll pick five to 10 different artists and showcase a selection of their work. One of the main ways we do this is by allowing members to bid on the artwork via an auction. 10 Wonders of The Week is a fantastic opportunity for you to get your work showcased and to help it stand out from the 30,000+ different items from 1000s of artists listed on WonderStreet.

Getting involved is easy and there’s no cost involved in participating - you’ll only pay a commission (25%) if your work is sold. Even if your work doesn’t sell, it'll still have appeared in front of thousands of potential art buyers. If they decide to buy your artwork later, they’ll still be able to buy it via the normal “buy it now” function.

Getting selected for 10 Wonders Of The Week

There are three simple steps to getting selected for 10 Wonders of the Week.

1. To get selected for 10 Wonders Of The Week you need to be invited to WonderStreet.

2.Once invited, you’ll need to have your showcase set up. This is a simple process and usually only takes two minutes to do. Our team will select the images and setup the showcase. You’ll then be able to approve each of the images in one simple click. You will also retain copyright over all of the images and will be able to delete them at any time.

3. Once your showcase is set up, you can start adding products to your personal WonderStreet store. The only work that’s involved here is adding a price tag and a short description to the products as you will be able to take the images directly from your showcase.

There are two prices that you need to consider: your "Buy it now" price and your "auction starting price".

The “Buy it now” price is your normal price. It's the price a customer will pay if they want to buy your product straight away rather than bidding on it through an auction. To get serious buyers interested, it should be the lowest advertised anywhere, online or offline. To help artists to offer the lowest price on WonderStreet, we from our side also take the lowest commission on the market (25%).

The "auction starting price" is the lowest starting bid you would accept for the auction. When someone bids this amount (or higher), the auction begins. To attract initial interest, we strongly suggest to offer a reasonable reduction compared to the "Buy it now" price. Also, the lower the auction starting price, the more chance you have of getting included in “10 Wonders of the Week”. Note: if a customer doesn't want to lose out in the auction, they can still buy your product at the "buy it now" price. This will also end the auction.

For example: A seller might set a "Buy it now" price of £1,000. At the same time, the seller might set the "auction starting price" (or starting bid) at 70% of the "buy it now price" in order to attract interest from potential shoppers. The "auction price", or the lowest bid to start the auction, would therefore be £700. Note: the "auction price" is simply the lowest auction bid that a seller will accept as a first bid on the product and usually it isn't what the product ends up sell for (often it's considerably more than the "auction price" or first bid). We suggest to set the auction start price at around 50-70% of the "Buy it now" price.

That’s it! Every week our team will select 10 Wonderstreet artists based on the quality of their work, the "Buy it Now" price (which should be the lowest anywhere), and the discount they offer for the starting price of the "10 Wonders of the Week" auctions.

So... Key points to getting selected for 10 Wonders of the Week

Make sure that your "Buy it Now" price on WonderStreet is the lowest advertised anywhere, online or offline. Also make sure that your Auction Start price offers a healthy discount to your "Buy it now" Price. This will create an extra incentive for our team to select your picture as part of Wonders of the Week, and once it's in the selection, the attractive starting price will trigger buyers to start bidding on your auctions.

WonderStreet Commission

Every time a piece of artwork is sold through WonderStreet, we will deduct 25% commission. This commission is on the cost of the artwork and does not include the shipping price. Please note: WonderStreet charges the lowest commission on the market. Charging a commission helps to fund WonderStreet and enables us to reinvest in the running costs of the site and in artist promotion.

Refunds and exchanges

WonderStreet offers a 14 day returns policy. This means that we will arrange for the artwork to be picked up and delivered back to you (regardless of the customer's reason for return) at no cost to you.

VAT

As WonderStreet’s commission is charged for a service provided to our sellers, we are obliged to charge 20% VAT on our commission to UK residents and non-VAT registered members of the European Community. VAT is currently chargeable by WonderStreet in the following circumstances:

1. You are a UK resident

2. You are resident in the EC (not UK) but not VAT registered

VAT is not currently chargeable by WonderStreet to you in the following circumstances:

1. You are resident in the EC (not UK) and VAT registered and have provided us with a valid VAT (or equivalent) registration number together with sufficient other evidence that is acceptable to HM Revenue & Customs and as required under EC law and regulation

2. You are resident outside the UK and the EC

How will you be paid?

By default, payments are sent straightaway to you via your payment method of choice (Paypal or bank transfer)

When will you be paid?

By default, we'll pay you around 14 days after the picture has been delivered. This gives us the room to implement a 14 day return policy. This refund policy allows the buyer to buy with more confidence and is an important incentive for art buyers to buy online through WonderStreet.

Shipping policy

When you log in to your account, you'll be able to specify which countries you are happy to ship to, as well as the shipping costs. You can set costs for your complete store and/or for individual items.

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