Auction Deposit Terms & Conditions

These Terms and Conditions (“Terms”) govern the payment and use of the holding deposit required to participate in auctions hosted on  autobid.london . By registering to bid or placing a bid on any vehicle or motorcycle listed on our website, you agree to the following terms.

 –     1. Deposit Requirement  

To participate in any auction on  autobid.london , bidders must pay a  £500 holding deposit (“Deposit”). The Deposit is required to verify your intent to bid and to ensure that only serious buyers participate. By paying this Deposit, you confirm that you agree to these Terms.

 –     2. Payment of Deposit  

    The Deposit must be paid via    card    (Visa, MasterCard, etc.) and will be securely held in your profile dashboard in an  escrow account  for the duration of the auction.

    The Deposit will be applied to your account and will be visible on your autobid.london  profile dashboard .

     One Deposit per car or motorcycle    is required. If you wish to bid on multiple vehicles in the same auction, you must pay a separate Deposit for each vehicle.

    If you do not win the auction, your Deposit will be 100% refundable  immediately after the auction concludes.

 –     3. Winning Bid  

    If you place the    winning bid    for a vehicle or motorcycle, the £500 Deposit will be credited towards the purchase price of the vehicle.

    You are then required to proceed with the full payment as per the terms of the auction.

 –     4. Non-Refundable Deposit  

    If you win the auction but fail to proceed with the full payment or do not complete the purchase as agreed, your £500 Deposit will be non-refundable   .

    This Deposit will be retained by autobid.london  as compensation for the breach of contract and failure to complete the sale.

 –     5. Refund Policy  

    If you do not win the auction, your £500 Deposit will be refunded in full immediately after the auction ends, as long as you have adhered to all auction rules.

    Refunds will be processed back to the original card used for the payment and may take up to 5-10 business days to appear in your account, depending on your bank or payment provider.

 –     6. Using Your Deposit for Other Bids  

    If you do not win the auction, you may choose to use the same £500 Deposit to bid on another vehicle within the same auction or future auctions hosted by  autobid.london .

    If you wish to bid on multiple vehicles simultaneously , you must pay a separate £500 Deposit for each car or motorcycle you wish to bid on.

 –     7. Auction Terms  

     autobid.london  conducts  public auctions. Bidders can be either private individuals  or  businesses   .

    The Deposit does not entitle you to any exclusive rights to the vehicle until you have placed the winning bid and completed the necessary payment.

    The Deposit is required to begin bidding , but it does not automatically guarantee that you will win the auction or purchase the vehicle.

 –     8. Auction Ending and Bidding Process  

    The auction for each vehicle will close at a specific time as outlined on the vehicle’s auction page.

    Once the auction closes, the winning bidder will be notified immediately.

    If your bid is not the highest at the close of the auction, the Deposit will be refunded to your account as outlined in  Section 5  above.

 –     9. User Profile and Escrow Account  

    Your Deposit will remain in escrow within your autobid.london  profile dashboard for the entire duration of the auction, and you can view and manage it at any time.

    The Deposit is non-transferrable between auctions or bids, unless you withdraw it after not winning or use it for another bid in the same auction period.

 –     10. Amendments to Terms & Conditions  

     autobid.london reserves the right to  amend or update these Terms at any time. Any amendments will be communicated to users via email or through updates on the autobid.london  website.

    By continuing to use autobid.london , you accept any changes made to these Terms.

 –     11. General Provisions  

        autobid.london  is not liable  for any losses or damages incurred due to your failure to comply with these Terms, including any issues related to deposit refunds, auction results, or payment processing delays.

    If you have any disputes, they must be resolved in accordance with autobid.london ‘s dispute resolution procedure outlined separately on our website.

   By registering and bidding on autobid.london , you acknowledge that you have read, understood, and agreed to these Auction Deposit Terms & Conditions.