Yes, you must put a deposit down before you can activate any bid. The deposit is either $400 or 10% of your bid amount (whichever is greater). Considering we don’t actually charge your credit card for the deposit amount, we just put a hold on it, the funds never leave your credit card. If we do not use your deposit towards a purchase, the hold will automatically get released within 5 business days back to you credit card. Learn more about Credit Card Hold FAQ. Read more
No, we do not charge anything if we are not able to purchase the item for you. As a matter of fact, we don’t even charge the credit card for the deposit, we just preauthorize it (put it on hold). This way if you don’t win, the hold will automatically get released back to your card within 5 days. Learn more about Credit Card Hold FAQ. Read more
Does my card get charged?
No, but we may put a hold on it for required deposit amount during the Auction period and up-to 5 days. We require the use of a credit card, as this allows us to place a “hold” but not charge the credit card.
How long is the hold placed on my card?
If we are able to purchase a vehicle for you, we can use this amount towards your open invoice. If we do not charge your card and you do not request a refund, the hold will be released within 5 days.
Will the credit card hold be applied towards the final purchase price payment?
Yes, it can be applied towards your open invoice. If you decide to send your full payment by other means (wire transfer, cashier’s check or money order), the hold will be released back to your credit card as soon as your payment clears on our account.
Can I cancel?
No. Once you are identified as the Winning Bidder, you have agreed to purchase the item. All bids are binding and all sales are final. Please review FAQ’s for more rules and information.
Customers with highest active bid are notified of the results from the subsequent Insurance Auction by e-mail. Additionally the results are posted under customer`s ‘My Account’ section. The results are published by 9 PM US EST the day of auction (unless our affiliated dealer is waiting for Insurance Auction approval, which can take up to 5 business days).
Trevose, PA, 19053, U.S.
Phone: +1( 215) 289-0300