Some of our high value objects need to have a deposit money as a guarantee before joining the bidding to ensure that you are really interested in the product. You will be informed of this by a notification above the bid block on the right-hand side of the auction page that states ‘Deposit bidding needed’.
An extra bidder guarantee requires the user to provide their credit or debit card information so that the bid may be properly confirmed. At this time, it is only possible to secure your bid using the cards mentioned such as MasterCard, VISA or other cards accepted.
For the Deposit Bidding needed the system will hold the amount of USD1,000.
The system is only to secure the amount in question, and it will not be withdrawn from your account, it is only subject to a temporary hold on the funds. The outcome of your deposit is dependent on whether the auction is won, lost or payment is not provided.
If you are the winner of the lot which you have provided the deposit, your credit card will be credited directly towards your open invoice. After this stage you may follow on your payment page all information and will be able to pay the remaining balance on your purchase using our accepted payment methods.
In the event you have provided the deposit but have not won the item being auctioned, the deposit of your bid amount will be removed, and the funds will be made available once again in your account. The amount of time it takes for your funds to be made available depends on your bank or financial institution.
Should you win an item you have provided deposit for, but payment is not provided within the allowed payment period, you will receive notification that the sale has been cancelled due to non-payment. When this has occurred, please contact our Customer Support team so we may set up your refund for the sale. For items which are cancelled due to non-payment, your deposit will be refunded minus the invoiced auction fee of 9% for the transaction.