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Before placing a bid, most people want to know what happens if they win. They want to understand what they may need to pay, and when payment is required.
To participate in an auction, a temporary authorisation hold equal to 10% of the starting bid will be placed on your credit card.
This helps confirm that bidders have a genuine interest in taking part in the auction and discourages non-serious bidding.
If you do not win the auction, the authorisation hold will be released automatically.
If you place the highest bid at the end of the auction, you win the watch.
You will then pay:
Example:
If you win, the authorisation hold is included in the Buyer's Premium payment.
Using the same example:
The RM500 authorisation hold becomes the first part of the Buyer's Premium payment.
The remaining RM100 premium balance will be charged to your credit card after the auction.
The Winning Bid is paid by online bank transfer.
Using the same example:
The next step explains how bidding works, including Save Max Bid and what happens as the auction reaches its end.