How to pay for itemsWere you the highest bidder on a lot at auction? Congratulations! It’s yours. Now it’s time to pay for your item.
Once the auction is over you should contact the auction house to discuss payment and collection of the lot.
Your item will be released to you by the auction house only once you have paid for it, so it is a good idea to get it done quickly.
Even though you will have registered a credit card with the auction house when you signed up for the auction you still need to arrange the actual payment separately.
Usually the auction house will email you with an invoice showing what you have purchased and how much you owe them for the item(s).
Sometimes they will email you a link where you can make a simple online payment.
On other occasions the auction house will send an invoice request for a bank transfer.
Before bidding at auction it’s worth checking which payment methods the auction house will accept so that you know for sure you will be able to easily pay for your items. A few auction houses, for example, do not accept credit cards for payment.
Pay for the item as soon as you can and then arrange to pick it up or have it delivered. If you leave an item at an auction house for too long, they may charge you a storage fee. This is because they have limited space and need to take in new lots for their next sale so a storage fee encourages buyers to pay and pick up quickly.
In any case, who wants to wait a long time to get their hands on their new purchase?