How soon after winning do I need to pay the deposit?
I'm planning my first bid and trying to understand the payment timeline. If I win, how quickly is the deposit due? Is it immediate, or is there a grace period? And what payment methods do auctions usually accept?
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asked Jun 12, 2024, 8:57 AM by Tim H.
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The deposit is usually due shortly after winning - often within a day or two - before delivery is arranged. The Sales Agent will give you the exact amount and deadline. Have the funds ready before you bid so there are no delays. The deposit is applied directly to your purchase price.
Confirm the payment methods before the auction starts so you're not scrambling. Some take wire transfers, which can have their own processing time.