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What is the deposit for competitive auctions and when is it paid?

Written by federica mucci

Updated at April 17th, 2024

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The deposit is the amount required to enable bidding in an auction. This amount:

 

  • does not constitute an advance payment towards the winning bid price;
  • For competitive auctions it is not considered as a bid;
  • Is temporarily withheld and then refunded;  
  • For competitive auctions it is valid for bidding on all lots within an auction. 
     

Once the deposit is paid, and you are enabled, you can log in to the website, return to the auction or lot page and you will see that the "Pay deposit" button has been replaced by the "Place bid" button. You will be able to place bids on all lots you wish to bid on in the same auction. 

 

We reccomend not waiting until the last minute to pay the deposit to allow time to seek assistance from our team in case of technical problems. 

Click on "Deposit Receipt" to download the bank details necessary to make the transfer and send us the payment confirmation.

 

payment schedule auction deposit

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