If you’re the highest bidder and the reserve has been met, or the auction has no reserve, you’ll win the auction when the timer ends.
When you win an auction, we’ll automatically take a non-refundable deposit from the card registered to your account to secure the vehicle. The deposit isn’t any extra cost to you, it’s simply a portion of your winning bid amount. Once the deposit is paid, you’ll only be asked to pay the remaining amount into our secure account.
Our deposits are up to 6% + VAT of your winning bid amount, or a minimum deposit amount, whichever is greater.
Our minimum deposit amounts are:
- Cars - £600/€600 + VAT
- Bikes - £420/€400 + VAT
- Plates - £300/€300 + VAT
We’ll email you instructions on how to pay the remaining balance into our secure account via bank transfer. Transfers can take 1 business day to clear from a GBP bank account, or 3-5 business days from international accounts. Please follow the instructions clearly and if you require any assistance, email us at email@example.com and one of the team will be happy to help.
Once the funds arrive in our secure account, we’ll share the seller’s contact details with you and vice versa to arrange the handover. When you’re ready to collect the keys, both you and the seller confirm the handover has taken place by clicking the relevant notifications in your Car & Classic account. The funds will be released as soon as both parties have confirmed.