We use pre-authorisation to ensure serious, legitimate bidders and to prevent fraud, protecting sellers and buyers alike. It’s a standard procedure that helps to weed out all those pesky scammers and time-wasters in order to cultivate a safe space to transact.
It might sound serious but it really isn't. Pre-authorisation is an amount that is effectively held on your card when you bid on an auction, but we’ll always let you know if we need to pre-authorise your bid.
The amount of the pre-authorisation is equivalent to the service fee that is always displayed prior to bidding or offering, but we won't take a penny unless you win the auction. If you do win, we’ll take that service fee - which acts as the pre-authorisation - from the card on your account as usual and once the payment has cleared we’ll send you clear instructions on how to pay the winning bid amount into our secure escrow account.
If you don’t win, the charge will be cancelled when the auction ends. The cancellation should be immediate, but it can take a few days to appear in your account. No money is taken but the pre-authorisation amount won't be available to you until the auction has ended.
Just so you know, we will always require pre-authorisation for auctions with no reserve, as well as Make an offer listings, regardless of the bid/offer amount but we don't require any pre-authorisation for pre-bids.
We know the financial stuff can seem a little scary sometimes so if you have any concerns or questions then please do not hesitate to contact us by emailing auctions@carandclassic.com.